View Full Version : Heard there might be a CM8 on this Friday is it true ?
:doh: Yesterday heard one of my FRD receiving saying -- they might be expecting an announcement this Friday by IRAS on mortgage service ratio (MSR). Currently at 40% of income to service housing loan . Anyone know about this ?
Maybe Reduce to 30% of income like what they are doing for HDB
Each time there is a CM, it's effective the next day. So those who have the letter of offer from banks (pending acceptance ), will be safe from this possible measure?
bargain hunter
06-03-13, 10:27
the speculation is so rife that now i think its unlikely haha.
its too soon after the Jan measures, yet to see impact yet.
thomastansb
06-03-13, 10:34
I think highly unlikely. Firstly, it seems too soon to come out with another CM. Secondly, the number of transactions are really very very low so it has somewhat cooled. Thirdly, DSR can be tweaked via MAS regulations to banks. No need for CM.
Anyway, HDB flats are already subjected to 30% DSR if I am not wrong. Still, if this friday they announce, then I really foresee the number of transactions will drop below 500.
:doh: Yesterday heard one of my FRD receiving saying -- they might be expecting an announcement this Friday by IRAS on mortgage service ratio (MSR). Currently at 40% of income to service housing loan . Anyone know about this ?
the speculation is so rife that now i think its unlikely haha.
its too soon after the Jan measures, yet to see impact yet.
i think the whole singapore heard of this rumours, because i oso heard of it this morning (being the least informed among my friends).
some agent spread rumours to speed up sales izit?
buttercarp
06-03-13, 10:37
:doh: Yesterday heard one of my FRD receiving saying -- they might be expecting an announcement this Friday by IRAS on mortgage service ratio (MSR). Currently at 40% of income to service housing loan . Anyone know about this ?
Do you know whether it will be limited to HDB, or applied to all housing loan?
I think there is a possibility of this CM, since Tharman said
property prices are not yet at an acceptable level.
Do you know whether it will be limited to HDB, or applied to all housing loan?
I think there is a possibility of this CM, since Tharman said
property prices are not yet at an acceptable level.
resale hdb already 30%.
I think too soon for another CM bah
Why not? When you have at least 3 properties, Triliq, Sennett R, and another at mount vernon, hitting the market this month?
Why is Tharman hurting the agents?
Rumored to extend the 30% msr cap on hdb to private. That's a killer. Even if you have savings to pay for down payment and absd, u may not earn enough monthly to fall within this cap.
phantom_opera
06-03-13, 10:58
CCR die pain pain if that is the case
thomastansb
06-03-13, 11:25
CCR already die pain pain with CM7. With 40% DSR, I think should have no transaction at all.
CCR die pain pain if that is the case
Dont waste time on this lah. there will be no CM this coming friday.
Happy property shopping bro and sis. Dont need to worry
already u said it's rumour mah .. juz like last time pp rumoured abt some big figure kicked the bucket prior to national b-day .. aiyo
Highly unlikely? Government already give hint... Price of property is not at an acceptable range.... I believe property cooling is one of the key point that government is doing to keep operation cost low in Singapore. Lower property price = Lower rental = Lower cost of operation.
MAS will not leak out information like this for sure. Even if they do, it wont be so soon lah. CM7 just announce in Jan and we had that CNY break. You think they will be so smart to come out with CM8 so soon meh.
Lets wait lah, CM8 will come when the market lease expected it.
bargain hunter
06-03-13, 12:08
5, still got urban vista and d'nest.
Why not? When you have at least 3 properties, Triliq, Sennett R, and another at mount vernon, hitting the market this month?
bargain hunter
06-03-13, 12:10
thurs sales starts for trilliniq and sennett so they spread rumour that cooling measures on friday to speed up the sales? :D :simmering: highly likely.
i think the whole singapore heard of this rumours, because i oso heard of it this morning (being the least informed among my friends).
some agent spread rumours to speed up sales izit?
bargain hunter
06-03-13, 12:26
yes, there may be further cooling but prob not this friday.
Highly unlikely? Government already give hint... Price of property is not at an acceptable range.... I believe property cooling is one of the key point that government is doing to keep operation cost low in Singapore. Lower property price = Lower rental = Lower cost of operation.
Property must be so boring that people are trying to anticipate the next CM. Lol.
The implementation date is rumor. The measure is not..
http://www.btinvest.com.sg/personal_finance/home-loan/more-checks-go-private-home-loans-20130209/
Jokers, market already freeze. Can still cool meh? "Mah Tu Liao" also went hiding liao coz it is too cold here already
Maybe Reduce to 30% of income like what they are doing for HDB
u are actually quite rite.
bargain hunter
06-03-13, 12:38
yup, in particular:
"When contacted, MAS would not comment on whether it has any impending plan to extend a prescriptive MSR cap to private home mortgages (like the one it imposed on HDB flats as part of last month's property cooling measures). However, it confirmed advising financial institutions (FIs) that they should also consider applying the MSR to loans and refinancing facilities for private residential properties. "In addition to applying a MSR for HDB flats, MAS expects FIs to continue to be prudent in assessing the repayment ability of borrowers for all residential property loans," it added.
Talk in some circles is that MAS could roll out a more prescriptive cap on MSR for private home loans after it reviews an audit of banks' home mortgages portfolio conducted late last year."
bro, since u r in the home loan biz, assuming the 30% MSR is implemented. does that mean asset based financing is dead? surely pay 50% downpayment and borrow 50% is already very very safe for the banks?
The implementation date is rumor. The measure is not..
http://www.btinvest.com.sg/personal_finance/home-loan/more-checks-go-private-home-loans-20130209/
CCR already die pain pain with CM7. With 40% DSR, I think should have no transaction at all.
depeg sibor from US and up int rate! then CCR will have durian to pick.
Why is Tharman hurting the agents?
coz everyone complain house expensive mah. agents enjoyed 5yrs of boomed. time for them to take a break go holiday and get some sun in Maldives.
depeg sibor from US and up int rate! then CCR will have durian to pick.
If they up rates, hot money will flow in here faster than we can shout huat leh. Then the inflation could be problematic.
assuming MAS implement the MSR one of the immediate impact I presume will be rental hike across all property sector as rental income will be consider as income I presume?
If they up rates, hot money will flow in here faster than we can shout huat leh. Then the inflation could be problematic.
eh, don't bother talking deep stuff with that moron. doesn't usually end well.
if they do up the MSR, then not only buyers are screwed. banks will be screwed as well.
got money but so hard to loan out. then how banking sector earn money? seek riskier bets on equities market?
The impact might be marginal. Most of the investors kenna sidelined somewhere from CM6 or 7 onwards. It works as a protection for the bank rather than targeted at buyers.
:doh: Yesterday heard one of my FRD receiving saying -- they might be expecting an announcement this Friday by IRAS on mortgage service ratio (MSR). Currently at 40% of income to service housing loan . Anyone know about this ?
yes, i heard it too yesterday. and its not from any tom,dick harry.
30% of income.
If they up rates, hot money will flow in here faster than we can shout huat leh. Then the inflation could be problematic.
property and assest have so many restriction. if this happen most of the $ will run to equity. I think the government also want to make sure the $ in the system go to something productive. too much $ in property and assest are not productive.
yes, i heard it too yesterday. and its not from any tom,dick harry.
30% of income.
well people wish for price to drop. but in real reality price drop dont mean they can enter the market.
So dont wish for something u cannot handle. ;)
The impact might be marginal. Most of the investors kenna sidelined somewhere from CM6 or 7 onwards. It works as a protection for the bank rather than targeted at buyers.
as long as the banks don't provide loans indiscriminately, there should be fine. their performance won't look good when they sit on piles of cash and not getting good yield in return.
yes, i heard it too yesterday. and its not from any tom,dick harry.
30% of income.
if its true this fri, then ur not tom dick n harryy can be trusted for advice next time haha.
luckily i secured my loan last mth. heng ah!
this will also impact people refinancing... 30% MSR
DSR coming indeed. Shoot to kill.
http://pbr38.photobucket.com/albums/e142/kysterama/DSR_Texture.jpg
property and assest have so many restriction. if this happen most of the $ will run to equity. I think the government also want to make sure the $ in the system go to something productive. too much $ in property and assest are not productive.
:doh: :doh: what's the link between raising interest rates and the flow of hot money into equities?
as long as the banks don't provide loans indiscriminately, there should be fine. their performance won't look good when they sit on piles of cash and not getting good yield in return.
Post Lehman, it is common place for major banks to loan up 50% MSR. This went right up to 2010. Rental income is included for assessment but only at 70% of that income stream.
if its true this fri, then ur not tom dick n harryy can be trusted for advice next time haha.
luckily i secured my loan last mth. heng ah!
he didnt say on this friday, just mention its coming.
thomastansb
06-03-13, 13:20
Yup. CM usually come out without anyone knowing. CM8 (if any) is no exception. From CM1 to CM7, I haven't heard of a single news spreading before the release of the news. Not even 2 hours before the announcement. So I guess MAS is good at keeping secret. Anyway, let's see.
If CM8, there won't be much sales. At 90th percentile, the income is around 7k only. 30% DSR is around 2.1k which translate to about 500k property purchase. That is assuming the person do not have any car loan, no other loan which is unlikely.
Is HDB resale (with bank loan) subjected to 30% DSR? If so, I am wondering how those people buy 850k HDB. They must be earning like > 10k a month and downpayment of 200k.
MAS will not leak out information like this for sure. Even if they do, it wont be so soon lah. CM7 just announce in Jan and we had that CNY break. You think they will be so smart to come out with CM8 so soon meh.
Lets wait lah, CM8 will come when the market lease expected it.
property and assest have so many restriction. if this happen most of the $ will run to equity. I think the government also want to make sure the $ in the system go to something productive. too much $ in property and assest are not productive.
Our equities market doesn't have a lot of depth as compared to the US. Once the sector is flooded, there'll be spillover effect on assets. In fact, financing a construction boom is more productive than investing in equities. Unless new capital is taken by the companies for business expansion, otherwise it's a churning of the equity prices to higher and higher levels.
Yup. CM usually come out without anyone knowing. CM8 (if any) is no exception. From CM1 to CM7, I haven't heard of a single news spreading before the release of the news. Not even 2 hours before the announcement. So I guess MAS is good at keeping secret. Anyway, let's see.
If CM8, there won't be much sales. At 90th percentile, the income is around 7k only. 30% DSR is around 2.1k which translate to about 500k property purchase. That is assuming the person do not have any car loan, no other loan which is unlikely.
Is HDB resale (with bank loan) subjected to 30% DSR? If so, I am wondering how those people buy 850k HDB. They must be earning like > 10k a month and downpayment of 200k.
500k? MM huat ar.....again.
thomastansb
06-03-13, 13:29
MM always huat one.
But only those beside MRT and around 450 to 500 sq ft. Those gave the highest returns and highest appreciation.
Those 300+ sq ft without MRT so so nia. But so so still better than nothing. Like Mr. B.
500k? MM huat ar.....again.
Actually some banks were already exercising the 30% DSR since Jan. At least Citibank did.
These days really difficult to get loans.
Many banks not willing to lend. Even if they do, the checks are very much more stirngent than before.
thomastansb
06-03-13, 14:42
On another thought, if DSR reduced to 40%, who will want to sell? Like seriously, I won't sell unless I have 5 properties and I sell one to realise 100% capital gain. If not, I just hold and collect rental.
Now rental is still strong + I can't buy back (ABSD + 40% DSR), the units on the market will shrink further. I foresee no seller want to sell, no buyer can buy. Hopefully we see 200 units sale in March.
yes, there may be further cooling but prob not this friday.
I just received the information from agent already... Saying MAS considering
phantom_opera
06-03-13, 15:09
yawn ... Temasek's next few years return is going to be close to zero if they kill the developers and banks :doh:
may i know for 100k income, what will 30% DSR like?
If the upcoming projects are priced with 40% MSR expectations during their VVIP launch and then MAS let go the 30% MSR the next weekend...:scared-1:
The first wave of "VVIP" buyers will really bang balls if the developers subsequently lowers pricing after the 30% MSR is announced.
The early bird catches the full weight but the late birdies get the better deals?
Then you know whether Tharman and Mah are actually speaking the same language...
By Romesh Navaratnarajah: The Monetary Authority of Singapore could be about to slash the Mortgage Servicing Ratio (MSR) for private residential properties in a further bid to moderate home prices, PropertyGuru understands. The move, which sources have indicated will be announced imminently, is another bid to moderate home price growth which recorded a spike at the end of last year. The Urban Redevelopment Authority's (URA) overall private-home price index rose 1.8 percent in Q4 2012 compared to the 0.6 percent increase in the previous quarter.Meanwhile, 2,013 private housing units were sold in January this year, a 43 percent increase over the 1,410 units sold in December 2012. This despite a slew of cooling measures introduced during the period to slow down home sales.
Currently, the MSR for private residential properties ranges between 30 percent and 60 percent but that could be revised to between 30 to 40 percent, according to a source familiar with the situation.
He noted that the new ruling may come into effect as early as this Friday or next week.
Back in January, the government lowered the MSR for HDB loans from banks to 30 percent as part of its cooling measures package to moderate price growth and sales transactions targeted at the public housing market.
But attention has now shifted to private property, said the source, adding that the central bank sees a need to expand restrictions in that segment of the market to moderate the private-home price index and control transaction numbers.
He also explained that this could be a way to instil best practices in the banking industry for private home loan assessment.
Private property transactions in the city-state generally accounts for about 60 percent of all home sales on a quarterly basis, noted the source.
Meanwhile, MAS was contacted for comment but had not responded prior to publication. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email
[email protected] Related Stories: New chapter to support property agents launched
Housing prices yet to reach acceptable level: DPM
Govt adopting wait and see approach to property market
I don't think it's true. Too soon. It will not reflect well on MAS and their CM planning.....
Want to buy, buy fast.
Want to sign bank's letter of offer, sign fast.
By Sat will be different, with Pte Pty MSR at 30% (or maybe 35%, then later adjust again).
Possibility of launched project lowering price.
Possibility of new lauches lowering expected price.
5 x EC land bids price (further cautious) will set the stage over the next few months.
These was what I'm being hearing lately.
Want to buy, buy fast.
Want to sign bank's letter of offer, sign fast.
Possibility of launched project lowering price.
Possibility of new lauches lowering expected price.
So your advice is to buy now notwithstanding future price cut?:scared-5:
Is somebody vested spreading the rumor?:beats-me-man:
With ultra loose global monetary policy, the end game is to strenghten the structure of their economy by propping up the value of the shares.
Sg gov also interested in this strategy. The gov don't want us to keep buying properties or cars. They want u to buy shares. Shares now are almost guarantee to go up in value.
With ultra loose global monetary policy, the end game is to strenghten the structure of their economy by propping up the value of the shares.
What's the basis of your assumption?
I'm sure there are many here vested, and some looking/considering vesting.
http://lushhomemedia.com/2013/03/06/strong-rumours-of-further-curbs-to-private-housing-loans/
thomastansb
06-03-13, 16:05
Not much relevance between loose monetary policy and increasing the share prices to strengthen the economy.
With ultra loose global monetary policy, the end game is to strenghten the structure of their economy by propping up the value of the shares.
Sg gov also interested in this strategy. The gov don't want us to keep buying properties or cars. They want u to buy shares. Shares now are almost guarantee to go up in value.
thomastansb
06-03-13, 16:10
100k divide by 12 times 30% = $2500
Then you take interest rate of 4.5% (some banks use 4%, some use different % but usually, between 4 to 4.5%) and 30 years loan (assuming you are below 35) and work out the amount. Most banks use their board rate so I know for OCBC, it is 4.5%.
Based on 100k income, it worked out to $493,400 loan amount or 616k purchase price. A rather low purchase price based on a monthly income of $8,333.
So someone who is on a 90th percentile income or top 10% earner in Singapore (around 7k a month only) cannot even buy a 600k house. That is sad. And 600k can barely get a MM nowadays. Even in OCR.
may i know for 100k income, what will 30% DSR like?
Actually does the calculation include cpf?
Thomas calculation is quite right. it depends on bank's interpretation of your income breakdown. if most of income is from basic salary, it should be recognised in full. if your income is mostly comm-based, abt 70% of it will be recognised. if self-employed and little declaration, then die la.. acknowledgement of rental income also depends on bank.
anw, note that this is about MSR.. there is still a DSR criteria. But if u die at MSR stage, then sure die la..
imagine those high sales income folks.. suddenly they also cant fulfill the MSR criteria to buy high quantum prop.
yup, in particular:
"When contacted, MAS would not comment on whether it has any impending plan to extend a prescriptive MSR cap to private home mortgages (like the one it imposed on HDB flats as part of last month's property cooling measures). However, it confirmed advising financial institutions (FIs) that they should also consider applying the MSR to loans and refinancing facilities for private residential properties. "In addition to applying a MSR for HDB flats, MAS expects FIs to continue to be prudent in assessing the repayment ability of borrowers for all residential property loans," it added.
Talk in some circles is that MAS could roll out a more prescriptive cap on MSR for private home loans after it reviews an audit of banks' home mortgages portfolio conducted late last year."
bro, since u r in the home loan biz, assuming the 30% MSR is implemented. does that mean asset based financing is dead? surely pay 50% downpayment and borrow 50% is already very very safe for the banks?
IMO, its safe.. but u can still fail MSR!! imagine those average-income folks who make lots of $ from stocks. cant buy too. got 500k for deposit, pay 7% absd, but salary 5k, also LL.
bargain hunter
06-03-13, 16:41
for these individuals, they will need to incorporate a company. then need to pay 80% downpayment and can only borrow 20%?
IMO, its safe.. but u can still fail MSR!! imagine those average-income folks who make lots of $ from stocks. cant buy too. got 500k for deposit, pay 7% absd, but salary 5k, also LL.
Not much relevance between loose monetary policy and increasing the share prices to strengthen the economy.
To keep USD valuable it must be backed by something valuable. At this moment the fed is printing so much money. The only way to keep the demand for USD is to inflate share prices denominated in USD. The fed will make sure Dow Jones goes higher for years to come.
I think this time they let out the wind as no scared people go and buy... As this is a killer blow... Even if u sell your hdb and have cash but low salary, u still cannot buy.
This is the killer blow, even property agent just email me saying forget it...
Now if want to buy is for those high income high cash families...
will push buyers to foreign properties.. is that in the interest of spore? lol
phantom_opera
06-03-13, 17:10
How is MSR of 30% different from LTV of 40-50% for 2nd loan?
So MSR 30% will only affect if it is the first loan isn't it?
Does that mean HDB upgraders with family income about 100k+ with fully paid up HDB loan will not be able to upgrade to a 2br OCR condo?
Then for those staying in condo/landed with family median income > 15k ... this group of ppl will then be able to grep another condo after a correction of 10% ?? :beats-me-man:
IS this a political suicide?
phantom_opera
06-03-13, 17:51
I think recent Bernanke's speech in congress really make MAS uncomfortable ... Pimco even suggests low int rate to sustain to 2030 :scared-1: :scared-1: :scared-1: :scared-1: :banghead: :banghead: :banghead: :banghead:
It sounds like Japan II
http://media.pimco.com/PublishingImages/Asset_Allocation_Focus_Feb2013_Fig4.PNG
I think recent Bernanke's speech in congress really make MAS uncomfortable ... Pimco even suggests low int rate to sustain to 2030 :scared-1: :scared-1: :scared-1: :scared-1: :banghead: :banghead: :banghead: :banghead:
It sounds like Japan II
http://media.pimco.com/PublishingImages/Asset_Allocation_Focus_Feb2013_Fig4.PNG
Petro dollar policy is losing its potency. What we are looking at now is the replacing flow of funds from US treasuries into US shares. The aim of course to keep the demand for USD intact.
thomastansb
06-03-13, 21:46
MSR is directly proportionate to your income.
LTV is proportionate to your cash at hand.
If you have cash, you can still downpay 60% and buy as many as you want.
If you have income (eg: 1M salary a year), MSR or DSR don't affect you because you can down 20% and borrow the rest.
So bottom line.......
If you have cash but no income, you can't borrow because your DSR doesn't meet 30% of income. But you can pay in full if you have that much cash.
If you have income but no cash, you can't buy because LTV doesn't pass.
If you have no cash, no income, then go for BTO :D
How is MSR of 30% different from LTV of 40-50% for 2nd loan?
So MSR 30% will only affect if it is the first loan isn't it?
Does that mean HDB upgraders with family income about 100k+ with fully paid up HDB loan will not be able to upgrade to a 2br OCR condo?
Then for those staying in condo/landed with family median income > 15k ... this group of ppl will then be able to grep another condo after a correction of 10% ?? :beats-me-man:
IS this a political suicide?
100k divide by 12 times 30% = $2500
Then you take interest rate of 4.5% (some banks use 4%, some use different % but usually, between 4 to 4.5%) and 30 years loan (assuming you are below 35) and work out the amount. Most banks use their board rate so I know for OCBC, it is 4.5%.
Based on 100k income, it worked out to $493,400 loan amount or 616k purchase price. A rather low purchase price based on a monthly income of $8,333.
So someone who is on a 90th percentile income or top 10% earner in Singapore (around 7k a month only) cannot even buy a 600k house. That is sad. And 600k can barely get a MM nowadays. Even in OCR.
So assuming a couple than can borrow up to 1.2m
:doh: :doh: what's the link between raising interest rates and the flow of hot money into equities?
Wat cock u talking? I talking MSR. Small boy don't know pls don't act smart.
yawn ... Temasek's next few years return is going to be close to zero if they kill the developers and banks :doh:
They still have dividends mah. Heh
thomastansb
07-03-13, 00:18
I mean if the couple salary is 200k combined, then logically, can buy a 1.2 million house with 80% loan. This is based on 30% DSR as what everyone is talking now.
If Government wants to be funny, they can always lower to 20% DSR, up the ABSD, lower the LTV. That will be CM8, 9, 10 etc... If 20% DSR + 25% ABSD + 20% LTV, even the most bullish of the bullish will turn bear immediately.
So assuming a couple than can borrow up to 1.2m
phantom_opera
07-03-13, 06:45
I mean if the couple salary is 200k combined, then logically, can buy a 1.2 million house with 80% loan. This is based on 30% DSR as what everyone is talking now.
If Government wants to be funny, they can always lower to 20% DSR, up the ABSD, lower the LTV. That will be CM8, 9, 10 etc... If 20% DSR + 25% ABSD + 20% LTV, even the most bullish of the bullish will turn bear immediately.
that effectively means majority of HDB upgraders cannot upgrade to PC ... ;)
median family household income for those staying at 5r / bigger is around 9k only (i.e. 108k pa) ... they will have to make sure this group of ppl can still upgrade
if too drastic, not only HDB upgraders not happy, developers and banks can kiss good bye and STI will crash below 3k immediately as the 3 local banks + developers has a lot of weightage
for these individuals, they will need to incorporate a company. then need to pay 80% downpayment and can only borrow 20%?
Cannot ba.. new rules: LTV for companies only 20%, plus 15% ABSD
buttercarp
07-03-13, 07:26
For pte property, the owner does not need to be the borrower of the home loan, ie someone can borrow the loan on the owner's behalf.
So if the MSR is implemented, does it mean the owner cannot get someone to borrow on his behalf, if the owner's salary is low or has no salary?
95% cash that would mean. Ha. Assume cpf maxed out.
there will be more CMs....else who is going to buy the properties in JB?:D
For pte property, the owner does not need to be the borrower of the home loan, ie someone can borrow the loan on the owner's behalf.
So if the MSR is implemented, does it mean the owner cannot get someone to borrow on his behalf, if the owner's salary is low or has no salary?
It is going to get get tougher and tougher to borrow in the future. The key message from the higher echelon is "prudence".
Did you cash out on your property??? Do it only if you know how to invest. If not, please be contented. Hahahahahaha
if you are owning a few it maybe time to cash out 1 or 2 for better return than rental.
Top Global adjusts condo prices in response to cooling measures (http://www.todayonline.com/business/top-global-adjusts-condo-prices-response-cooling-measures)
SINGAPORE — Real estate group Top Global has made a 10 to 15 per cent downward adjustment to the prices of its two soon-to-be-launched condominiums in response to the recent slew of property cooling measures, and further changes may be made according to demand.
The freehold residential developments — R Maison and E Maison — are situated at Braddell Road and Somerville Walk, and are targeted at mid- to high-income earners. After the reductions, the 175 units at the two complexes, which are together called The Maisons, have an anticipated price range of between S$1,350 and S$1,450 per square foot.
“Given that The Maisons are among the first developments rolled out after the recent Additional Buyer’s Stamp Duty (ABSD), our pricing strategy will factor in the additional cost of home purchases,” said Mr Hano Maelo, Chief Executive Officer of Top Global.
The ABSD, which was one of the additional property cooling measures announced by the Government on Jan 11, applies to second homes for Singaporeans and first homes for permanent residents.
Ms Jennifer Chang, Chief Operating Officer and Executive Director of Top Global, added that the company will adapt its pricing and marketing strategy after seeing the response to R Maison, which is due to be launched by the end of the month. E Maison is scheduled to launch early next month.
Top Global is upbeat about prospects for the two developments despite the cooling measures.
“Our main selling points are value and location … as long as interest rates remain low and buyers continue to enjoy ample liquidity, we envisage a healthy demand,” Mr Maelo said.
The full impact of the cooling measures has yet to be seen. The most recent property sales data indicated that demand has stayed robust, but market watchers have cautioned that it might not be until this month or the next before a true picture emerges of how the measures have affected sales and prices.
Deputy Prime Minister Tharman Shanmugaratnam said in an interview with Bloomberg last week that there is still “some ways to go” before property prices are at an acceptable level.
thomastansb
07-03-13, 10:08
Can. But that someone has got to know his LTV will be reduce to 50% the next time he buys if that is his first property as borrower. Or if it is his second, he can only get 50% loan. Usually, people don't do it unless it is a close friend/family member because the risk is on the borrower.
For pte property, the owner does not need to be the borrower of the home loan, ie someone can borrow the loan on the owner's behalf.
So if the MSR is implemented, does it mean the owner cannot get someone to borrow on his behalf, if the owner's salary is low or has no salary?
After a while...people will run out of children and other relatives whose name can be "borrowed" for getting a housing loan.
In any case MSR makes it difficult to use other peoples' names anyway. The banks will have to run v. stringent checks on borrowers from now on. Cannot anyhow declare income. They will check and double check.
Goodness gracious.....Govt already send signal not to touch property unless you have the cash.....don't get the message ah?
1350-1450psf, sounds kike fair value. No one sensible would touch it at their prediscounted price.
phantom_opera
07-03-13, 10:34
in China ... couples rush to divorce to avoid capital gain tax
Singapore still early in the games lah
If you own any OCR condo bought below 1kpsf ... even say you already make 80% (1800psf) who wants to sell now ... kiqiu :p
bear in mind M3 is up 82% since 2007 and we are not living in an isolated island ... Beijing MNC pay already matching Singapore level ... China M2 growth target is 13% in 2013 vs 13.8% in 2012
MP3 already proposing 1,500 as min wage, with WCS (Wage Credit Scheme) ... inflation will raise its ugly head again
bottomline what does the govt want....population increase to 6.9m...but dont want people to buy...or they want to give priority to 1st timers...:confused:
bottomline what does the govt want....population increase to 6.9m...but dont want people to buy...or they want to give priority to 1st timers...:confused:
Govt wants us to realize they are always right n we should listen to them in the first place. Don't kpkb. so they are thinking to crash the market, crash the economy to prove to us the govt are right from the beginning. See if we dare to be champion whinner next time.
if you are owning a few it maybe time to cash out 1 or 2 for better return than rental.
Top Global adjusts condo prices in response to cooling measures (http://www.todayonline.com/business/top-global-adjusts-condo-prices-response-cooling-measures)
SINGAPORE — Real estate group Top Global has made a 10 to 15 per cent downward adjustment to the prices of its two soon-to-be-launched condominiums in response to the recent slew of property cooling measures, and further changes may be made according to demand.
The freehold residential developments — R Maison and E Maison — are situated at Braddell Road and Somerville Walk, and are targeted at mid- to high-income earners. After the reductions, the 175 units at the two complexes, which are together called The Maisons, have an anticipated price range of between S$1,350 and S$1,450 per square foot.
“Given that The Maisons are among the first developments rolled out after the recent Additional Buyer’s Stamp Duty (ABSD), our pricing strategy will factor in the additional cost of home purchases,” said Mr Hano Maelo, Chief Executive Officer of Top Global.
The ABSD, which was one of the additional property cooling measures announced by the Government on Jan 11, applies to second homes for Singaporeans and first homes for permanent residents.
Ms Jennifer Chang, Chief Operating Officer and Executive Director of Top Global, added that the company will adapt its pricing and marketing strategy after seeing the response to R Maison, which is due to be launched by the end of the month. E Maison is scheduled to launch early next month.
Top Global is upbeat about prospects for the two developments despite the cooling measures.
“Our main selling points are value and location … as long as interest rates remain low and buyers continue to enjoy ample liquidity, we envisage a healthy demand,” Mr Maelo said.
The full impact of the cooling measures has yet to be seen. The most recent property sales data indicated that demand has stayed robust, but market watchers have cautioned that it might not be until this month or the next before a true picture emerges of how the measures have affected sales and prices.
Deputy Prime Minister Tharman Shanmugaratnam said in an interview with Bloomberg last week that there is still “some ways to go” before property prices are at an acceptable level.
Smart marketing ploy with free press coverage and media exposure. Dont even need to spend on advertising.
Probably the large units at those psf. Its not an mmful project.
100k divide by 12 times 30% = $2500
Then you take interest rate of 4.5% (some banks use 4%, some use different % but usually, between 4 to 4.5%) and 30 years loan (assuming you are below 35) and work out the amount. Most banks use their board rate so I know for OCBC, it is 4.5%.
Based on 100k income, it worked out to $493,400 loan amount or 616k purchase price. A rather low purchase price based on a monthly income of $8,333.
So someone who is on a 90th percentile income or top 10% earner in Singapore (around 7k a month only) cannot even buy a 600k house. That is sad. And 600k can barely get a MM nowadays. Even in OCR.
TOPd one or soon only SG smallest mm 258sf asking 500k.
Else launching soon Treasures @ G20 420sf 490k still have.
Yup. CM usually come out without anyone knowing. CM8 (if any) is no exception. From CM1 to CM7, I haven't heard of a single news spreading before the release of the news. Not even 2 hours before the announcement. So I guess MAS is good at keeping secret. Anyway, let's see.
If CM8, there won't be much sales. At 90th percentile, the income is around 7k only. 30% DSR is around 2.1k which translate to about 500k property purchase. That is assuming the person do not have any car loan, no other loan which is unlikely.
Is HDB resale (with bank loan) subjected to 30% DSR? If so, I am wondering how those people buy 850k HDB. They must be earning like > 10k a month and downpayment of 200k.
i got a fren earning 6k+ and loan rejected, bank only allow 350k loan. i think he was buying a hdb costing 590k. that's quite funny because at 2% i/r, repayment per mth is $1,300 (30 years), which is 21% only. either he was not telling me the truth, or the banks have gotten really stringent.
Does that mean HDB upgraders with family income about 100k+ with fully paid up HDB loan will not be able to upgrade to a 2br OCR condo?
IS this a political suicide?
if they allow a bridging period to sell the hdb, i think shld be ok bah? actually LTV is intertwined with DSR.. if you have a low enuff LTV you can stretch the loan long enuff (assuming you are not too old), then the DSR become palateable right?
i got a fren earning 6k+ and loan rejected, bank only allow 350k loan. i think he was buying a hdb costing 590k. that's quite funny because at 2% i/r, repayment per mth is $1,300 (30 years), which is 21% only. either he was not telling me the truth, or the banks have gotten really stringent.
He may have car loan, personal loans, study loans, whatever outstanding or a bad credit history.
where is the smallest MM unit in sg? :scared-5:
Wow...new measures will spoilt dreams of owners trying to own 2 properties.
thomastansb
07-03-13, 14:22
For HDB, different story. That one by law 30% DSR. Actually, for banks, 30% DSR is very safe already. Most don't mind 50% DSR one, if they can. So I see no reason why banks don't lend.
Anyway, he/his wife might have other loans. Like car loan for example. You buy a 130k Vios, one month repay about 1.3k for a 100% 10 years loan.
1.3k out of say 6.5k = 20% liao. Left 10% income to service debt.
And also other loans like renovation loan, personal loan, education loan etc.
Lastly, credit worthiness also. If he miss any credit cards/credit lines more than 30 days, that record will be there for the next 3 years. Btw, paying minimum sum is considered as missing payment. So if you have a 1k credit card bill, you pay $100 and the remaining $900 roll over to next month, your credit worthiness just went down. This also applies to loans. You miss $1 payment for 30 days, then your rating will go down for 3 years.
i got a fren earning 6k+ and loan rejected, bank only allow 350k loan. i think he was buying a hdb costing 590k. that's quite funny because at 2% i/r, repayment per mth is $1,300 (30 years), which is 21% only. either he was not telling me the truth, or the banks have gotten really stringent.
where is the smallest MM unit in sg? :scared-5:
Guillemard rd.
Guillemard rd.
258
not the address, its floor area.
ok managed to find out its Suites@ Gulliemard. :)
For HDB, different story. That one by law 30% DSR. Actually, for banks, 30% DSR is very safe already. Most don't mind 50% DSR one, if they can. So I see no reason why banks don't lend.
Anyway, he/his wife might have other loans. Like car loan for example. You buy a 130k Vios, one month repay about 1.3k for a 100% 10 years loan.
1.3k out of say 6.5k = 20% liao. Left 10% income to service debt.
And also other loans like renovation loan, personal loan, education loan etc.
Lastly, credit worthiness also. If he miss any credit cards/credit lines more than 30 days, that record will be there for the next 3 years. Btw, paying minimum sum is considered as missing payment. So if you have a 1k credit card bill, you pay $100 and the remaining $900 roll over to next month, your credit worthiness just went down. This also applies to loans. You miss $1 payment for 30 days, then your rating will go down for 3 years.
not sure about the specific circumstances. but it is a single with no car, frugal lifestyle, civil service job. sounds to be like super safe borrower.
Anyway, he/his wife might have other loans. Like car loan for example. You buy a 130k Vios, one month repay about 1.3k for a 100% 10 years loan.
1.3k out of say 6.5k = 20% liao. Left 10% income to service debt.
And also other loans like renovation loan, personal loan, education loan etc.
The cash flow is so tight.
There goes the dream of car, condo out of the window.
The "sandwich" class just got made into toast.
:hell-hath-no-fury:
There will be many unhappy people in similar situation. Next election PAP has just lost some more supporters for their CMs. Do you think this group of people can see the "perceived" advantage of these CMs for the overall benefit of the economy as a whole? What they see is that it hurts their pockets and dashes their aspirations.
thomastansb
07-03-13, 16:46
I heard many civil servants are getting into trouble with credit cards/lines. But anyway, 30% DSR is fixed and really have to ask him why banks don't want to lend him the money. Only he knows best.
not sure about the specific circumstances. but it is a single with no car, frugal lifestyle, civil service job. sounds to be like super safe borrower.
thomastansb
07-03-13, 16:50
Actually I feel it is the other way round. Most people earn less than 4k and they usually stay HDB. CM actually brighten up their day because it give them hope that one day, prices will drop and they can buy. That is a big majority of citizens in Singapore.
The small minority of rich people votes won't affect much. Also, rich people know best who to vote for :D
The cash flow is so tight.
There goes the dream of car, condo out of the window.
The "sandwich" class just got made into toast.
:hell-hath-no-fury:
There will be many unhappy people in similar situation. Next election PAP has just lost some more supporters for their CMs. Do you think this group of people can see the "perceived" advantage of these CMs for the overall benefit of the economy as a whole? What they see is that it hurts their pockets and dashes their aspirations.
Actually I feel it is the other way round. Most people earn less than 4k and they usually stay HDB. CM actually brighten up their day because it give them hope that one day, prices will drop and they can buy. That is a big majority of citizens in Singapore.
The small minority of rich people votes won't affect much. Also, rich people know best who to vote for :D
How much can 4k per month person loan if 30% MSR? And if price is to fall, all scared to buy.. Just like 2009 stock market so cheap no one buy, now STI so high all rushing in to buy... People normally buy on up trend.. If price going south no one will buy even can afford
Actually I feel it is the other way round. Most people earn less than 4k and they usually stay HDB. CM actually brighten up their day because it give them hope that one day, prices will drop and they can buy. That is a big majority of citizens in Singapore.
The small minority of rich people votes won't affect much. Also, rich people know best who to vote for :D
With the MSR and car loan % tightening, they STILL can't buy.
Yes.. Last time can borrow money and buy.. So even don't have money also can buy.. Now with all the cooling and restriction on loan, those who earn a lot and have cash wins
If I were in the PAP, I would fear for the next GE. Despite so many measures, but it hasn't really improved the lot of the "majority" who live in HDB flats. Now it's even harder to buy a car and upgrade the next property.
How much can 4k per month person loan if 30% MSR? And if price is to fall, all scared to buy.. Just like 2009 stock market so cheap no one buy, now STI so high all rushing in to buy... People normally buy on up trend.. If price going south no one will buy even can afford
aiyah for the group they will never buy up or down. up run away prices. down.. fear. its those who brave the fear buy only. no guts no glory.
If I were in the PAP, I would fear for the next GE. Despite so many measures, but it hasn't really improved the lot of the "majority" who live in HDB flats. Now it's even harder to buy a car and upgrade the next property.
ah kong only can gurantee help on roof. want car want condo all these are considered luxury. must work for it. nothing fall from sky 1.
Yes.. Last time can borrow money and buy.. So even don't have money also can buy.. Now with all the cooling and restriction on loan, those who earn a lot and have cash wins
anywhere in the world those with lots of cash always win. any time also win. not just here.
Govt is making it difficult for the laymen people from investing in some instrument that has the best long term value with all the cooling measures!
So much so for the betterment and for the goodness of the people! :doh::p
After a while...people will run out of children and other relatives whose name can be "borrowed" for getting a housing loan.
In any case MSR makes it difficult to use other peoples' names anyway. The banks will have to run v. stringent checks on borrowers from now on. Cannot anyhow declare income. They will check and double check.
Goodness gracious.....Govt already send signal not to touch property unless you have the cash.....don't get the message ah?
Shin MIN news also got rumours on cm8 :scared-4:
izit coming so fast ???
thomastansb
07-03-13, 20:40
I don't think majority of the people want to buy a car and upgrade to condo. Those earning below 4k form the majority so it is hard to service a car and a condo at the same time. It is quite impossible. But some people will never be happy. They buy a car, buy a condo, they will be complaining they not enough $ to buy a yacht.
If I were in the PAP, I would fear for the next GE. Despite so many measures, but it hasn't really improved the lot of the "majority" who live in HDB flats. Now it's even harder to buy a car and upgrade the next property.
Fake one lah, where got cooling measures announcement give us hint?
Usually will be a surprise shocked to us.
PropertyNewbie
07-03-13, 20:47
Any bookie accepting bets on whether this CM will come out tomorrow evening? :p
This red eye syndrome is getting ridiculous. Everyone should be thinking hard about upgrading themselves or thinking of ways to increase their earning power instead of asking the govt to artificially suppress prices so they can afford one. There's already the ECs for that.
Anyway, now that this CM looks like its imminent, let's now talk about the effects this coming CM will have.
My guess, CCR not affected unless additional foreign ABSD kicks in.
RCR takes a pounding and overnight asking prices to reduce 10-15%.
OCR neutral or might even see an upward tick as suddenly everyone can only afford OCR.
thomastansb
07-03-13, 20:54
If I am the PAP, I will be doing my best. If I lose, seriously, I don't really care. If I am the MP, my allowance is already 1.2M in 5 years. If I am the minister, my salary is in the region of 10M and above. If people vote me out despite me doing my best, then I say good luck and good bye. With 1M, I can take citizenship almost anywhere I like.
That is why I hear a lot of people say PAP fear you. I am like huh? Why fear? It is a tough job. Cannot go luxury restaurant, cannot smoke, cannot go Geylang, cannot eat "Mango", cannot this, cannot that. And salary also not really that fantastic. I mean look at George Yeo. He is enjoying his life and earning millions as well and now, he go Geylang also no one can say anything. He has nothing to lose and all to gain. The losers are Singaporeans who lost a good foreign minister.
You want a Government that give you cheap car, cheap condo, rent out HDB to service your condo, high salary, work life balance? Let me know where because I also want.
If I were in the PAP, I would fear for the next GE. Despite so many measures, but it hasn't really improved the lot of the "majority" who live in HDB flats. Now it's even harder to buy a car and upgrade the next property.
bargain hunter
07-03-13, 21:33
ok, sennett sold 50% of all units within 5 hours from 5pm today. maybe there's a chance tomorrow 5pm could see cooling measures. LOL!
If I am the PAP, I will be doing my best. If I lose, seriously, I don't really care. If I am the MP, my allowance is already 1.2M in 5 years. If I am the minister, my salary is in the region of 10M and above. If people vote me out despite me doing my best, then I say good luck and good bye. With 1M, I can take citizenship almost anywhere I like.
That is why I hear a lot of people say PAP fear you. I am like huh? Why fear? It is a tough job. Cannot go luxury restaurant, cannot smoke, cannot go Geylang, cannot eat "Mango", cannot this, cannot that. And salary also not really that fantastic. I mean look at George Yeo. He is enjoying his life and earning millions as well and now, he go Geylang also no one can say anything. He has nothing to lose and all to gain. The losers are Singaporeans who lost a good foreign minister.
You want a Government that give you cheap car, cheap condo, rent out HDB to service your condo, high salary, work life balance? Let me know where because I also want.
good foreign minister? maybe to you... thankfully not all sporeans think the same as u. :)
thomastansb
07-03-13, 21:42
Then at least we have low unemployment, stability, good security, affordable food, affordable housing. And shitty transport but not everything can be perfect sometimes. So these are things being taken for granted by a lot of people and I think that is a great achievement for a country without natural resources.
good foreign minister? maybe to you... thankfully not all sporeans think the same as u. :)
Then at least we have low unemployment, stability, good security, affordable food, affordable housing. And shitty transport but not everything can be perfect sometimes. So these are things being taken for granted by a lot of people and I think that is a great achievement for a country without natural resources.
low unemployment does not mean gainful employment
stability does not mean a resilient society
can afford housing does not mean housing is affordable
and affordable food is not something people even mention in years past, to do so now suggests a regression.
as for public transport no one is asking for perfection bcos there is no such thing as perfection.
without a doubt the benefits of growth and progress of recent decade has eluded the large majority. The ruling party's report card is dismal as evidenced in recent ballot results.
low unemployment does not mean gainful employment
stability does not mean a resilient society
can afford housing does not mean housing is affordable
and affordable food is not something people even mention in years past, to do so now suggests a regression.
as for public transport no one is asking for perfection bcos there is no such thing as perfection.
without a doubt the benefits of growth and progress of recent decade has eluded the large majority. The ruling party's report card is dismal as evidenced in recent ballot results.
Conclusion- depends on your own means of affordability, don't depends on others like govt aids etc.
Conclusion- depends on your own means of affordability, don't depends on others like govt aids etc.
conclusion - without accountability, the incompetents can still look competent.
I can't see how it benefit the economy as a whole since the so-called risk to bank is over-rated and like shouting "wolf wolf wolf" since 70% LTV is already super safe for banks for own stay! Furthermore, why is there a need for a cap of 30 years loan for investment properties since these properties are supposed to be self-generating revenue and can be rented our for 99 years?! May be for own stay cap at 30 years and for investment property should be able to loan 99 years? :D
Anyway, regardless of whatever excuses, I only see $$$ into govt coffers! :p
The cash flow is so tight.
There goes the dream of car, condo out of the window.
The "sandwich" class just got made into toast.
:hell-hath-no-fury:
There will be many unhappy people in similar situation. Next election PAP has just lost some more supporters for their CMs. Do you think this group of people can see the "perceived" advantage of these CMs for the overall benefit of the economy as a whole? What they see is that it hurts their pockets and dashes their aspirations.
Govt is making it difficult for the laymen people from investing in some instrument that has the best long term value with all the cooling measures!
So much so for the betterment and for the goodness of the people! :doh::p
The US goverment didn t stop their people from investing during the parties of 03-07. Neither did the Spanish government. Neither did the Japanese government in the 80s. Look at what happened to all of them. More importantly, look at how long the after effects lasted.
Think "accountability" should be clearly spelled out objective "Key Performance Indicators". It is strange that the govt are strong advocators of KPIs and yet they don't have any clearly and objectively spelled out for themselves for all people to see at the beginning of each year?! :beats-me-man:
conclusion - without accountability, the incompetents can still look competent.
That is because their govt allows 100% loan for properties with no principle repayment is OK and a loan tenure the lifespan of the properties, just like your Singapore govt allows 100% loan for cars and allowed a loan tenure that is the same as the life span of the cars (which is 10 years)! Isn't it strange that they just realize about it?! :scared-1:
The US goverment didn t stop their people from investing during the parties of 03-07. Neither did the Spanish government. Neither did the Japanese government in the 80s. Look at what happened to all of them. More importantly, look at how long the after effects lasted.
thomastansb
07-03-13, 23:22
Good things can be twisted to bad things also. As shown below.
Anyway, ballot result can mean 2 things. The ruling party is bad. The people are getting daft. I leave this open but I know which one I will choose. Greece is a good example where people don't vote with their brains. But again, this is subjective.
low unemployment does not mean gainful employment
stability does not mean a resilient society
can afford housing does not mean housing is affordable
and affordable food is not something people even mention in years past, to do so now suggests a regression.
as for public transport no one is asking for perfection bcos there is no such thing as perfection.
without a doubt the benefits of growth and progress of recent decade has eluded the large majority. The ruling party's report card is dismal as evidenced in recent ballot results.
thomastansb
07-03-13, 23:25
You mean you can't see the KPI? Like job statistics, salary, housing affordability index, inflation etc.
Anyway, people will choose what to see and what not to see. They will say their salary not high enough to buy a ferrari. They will say COE is for the rich (ya, that is the hard truth). They will complain they cannot buy a luxury condo in Sentosa and is reserved for rich foreigners. When the lift breakdown, they blame PAP and say vote for opposition because PAP has made a small tiny mistake somewhere. And ignoring 90% of the good things.
Think "accountability" should be clearly spelled out objective "Key Performance Indicators". It is strange that the govt are strong advocators of KPIs and yet they don't have any clearly and objectively spelled out for themselves for all people to see at the beginning of each year?! :beats-me-man:
You mean you can't see the KPI? Like job statistics, salary, housing affordability index, inflation etc.
Anyway, people will choose what to see and what not to see. They will say their salary not high enough to buy a ferrari. They will say COE is for the rich (ya, that is the hard truth). They will complain they cannot buy a luxury condo in Sentosa and is reserved for rich foreigners. When the lift breakdown, they blame PAP and say vote for opposition because PAP has made a small tiny mistake somewhere. And ignoring 90% of the good things.
Some people lao sai, also blame pap and their policy.
Some people cannot shit, also blame pap and their policy.
either way, mickey mouse, donald duck, ben ten, batman, superman, hulk, oron man, spiderman, jack the ripper, shaun the sheep, goofy, pluto, homer, WP, are better than pap.
thomastansb
08-03-13, 00:45
We have to be objective. If housing is affordable and you twist it become unaffordable, then I think you are really daft. Somemore without any statistics. Worse still, these daft idiots like to pick a few cases and make it big without thinking that there are many cases which are good.
To me, all bullshit and nonsense.
Some people lao sai, also blame pap and their policy.
Some people cannot shit, also blame pap and their policy.
either way, mickey mouse, donald duck, ben ten, batman, superman, hulk, oron man, spiderman, jack the ripper, shaun the sheep, goofy, pluto, homer, WP, are better than pap.
bargain hunter
08-03-13, 07:51
Earlier yesterday, SMSes from property agents were flying furiously about an impending imposition of a prescriptive 30 to 40 per cent mortgage servicing ratio (MSR) cap for private homes supposedly to be effective as early as today.
The Council for Estate Agencies (CEA) confirmed last night that it had received one complaint about a property agent who had sent an SMS to his clients. CEA has approached the estate agency to which he belongs to tell him not to do so.
"Under the Estate Agents Act, sales persons are required to provide factually correct information to their clients," said a CEA spokesman.
Separately, BT understands that the government is not planning to introduce a prescriptive MSR cap for private home purchases in the immediate future.
If I were in the PAP, I would fear for the next GE. Despite so many measures, but it hasn't really improved the lot of the "majority" who live in HDB flats. Now it's even harder to buy a car and upgrade the next property.
i have a banker fren who used to be staunch PAP supporter. b4 the latest car cooling measure, me and her used to argue everyday about politics. with the recent CM1 on cars and other CMs on houses, i just met her this week. suddenly the tone all different. she says why PAP keep pushing out all these measure, they are killing their own votes, killing all the SME (her SME clients all being affected and some have to close down). she suddenly feel that PAP is not doing the right thing anymore.
and she is upset not even becoz she need to buy car and now cannot buy. that is not a big issue to her. but seeing her clients being wiped out one by one by govt... is something unacceptable to her.
by the way she is one good banker. really helped my co alot during financial crisis.
Lol. Sounds like a vicious rumor from the beginning.:doh:
We will find out if it's true today.:)
Anyway, people will choose what to see and what not to see. They will say their salary not high enough to buy a ferrari. They will say COE is for the rich (ya, that is the hard truth). They will complain they cannot buy a luxury condo in Sentosa and is reserved for rich foreigners. When the lift breakdown, they blame PAP and say vote for opposition because PAP has made a small tiny mistake somewhere. And ignoring 90% of the good things.
talk about ferrari, i thikn the greatest joke is those online who lambast saw phiek hua for driving ferrari. why are they blaming her??? the Board appointed her as CEO and paid her due salary. she is free to enjoy her money. if blame, blame the board for not sacking her when they should have long ago.
this is so red-eye syndrome lor.
suddenly the tone all different. she says why PAP keep pushing out all these measure, they are killing their own votes, killing all the SME (her SME clients all being affected and some have to close down). she suddenly feel that PAP is not doing the right thing anymore.
Sometime I feel like a lab rat in PAP's grand laboratory of social experiment.:scared-5:
phantom_opera
08-03-13, 08:18
Sometime I feel like a lab rat in PAP's grand laboratory of social experiment.:scared-5:
all of us are worker ants, PAP is the Queen ... a few Mini-males to serve her :p
i had a chuckle when i read about my MP commenting that the wage schemes are better than having "minimum wage structure", as proposed by various academics.
if PAP actually sought to better the "minimum wage" proposal, isn't it shooting itself in the foot since it argued that it will be detrimental to companies and cause businesses to be uncompetitive?
and all the while, they are still not addressing the issues contributing to escalating business costs. e.g. when a food stall owner needs to pay $15k in a foodcourt, guess how much will our teh O kosong costs?
conclusion - without accountability, the incompetents can still look competent.
Referring to your previous post? :cheers6:
i have a banker fren who used to be staunch PAP supporter. b4 the latest car cooling measure, me and her used to argue everyday about politics. with the recent CM1 on cars and other CMs on houses, i just met her this week. suddenly the tone all different. she says why PAP keep pushing out all these measure, they are killing their own votes, killing all the SME (her SME clients all being affected and some have to close down). she suddenly feel that PAP is not doing the right thing anymore.
and she is upset not even becoz she need to buy car and now cannot buy. that is not a big issue to her. but seeing her clients being wiped out one by one by govt... is something unacceptable to her.
by the way she is one good banker. really helped my co alot during financial crisis.
if they voted for PAP, then they deserve whatever PAP dishes out to them. LOL
thomastansb
08-03-13, 10:17
Cars CM is PAP brought it upon themselves one. In the first place, the 7 years, 70% should stay. Once you give, it is difficult to take back.
Housing CM is 50% caused by PAP and 50% caused by excess liquidity. They underbuild HDB from 2006 till 2009 despite people saying that there are not enough flats for them.
SME is killed by oppositions and some singaporeans. They pushing for less foreigners so they have their wish lor.
i have a banker fren who used to be staunch PAP supporter. b4 the latest car cooling measure, me and her used to argue everyday about politics. with the recent CM1 on cars and other CMs on houses, i just met her this week. suddenly the tone all different. she says why PAP keep pushing out all these measure, they are killing their own votes, killing all the SME (her SME clients all being affected and some have to close down). she suddenly feel that PAP is not doing the right thing anymore.
and she is upset not even becoz she need to buy car and now cannot buy. that is not a big issue to her. but seeing her clients being wiped out one by one by govt... is something unacceptable to her.
by the way she is one good banker. really helped my co alot during financial crisis.
thomastansb
08-03-13, 10:20
Minimum wage is bad I would say. I wouldn't recommend MWS. I feel our scheme is better where the government co-pay.
But for hawker, they should stop leasing out to private entity. This one is no brainer.
A hawker should stay as it is. PAP is shooting themselves again :doh:
i had a chuckle when i read about my MP commenting that the wage schemes are better than having "minimum wage structure", as proposed by various academics.
if PAP actually sought to better the "minimum wage" proposal, isn't it shooting itself in the foot since it argued that it will be detrimental to companies and cause businesses to be uncompetitive?
and all the while, they are still not addressing the issues contributing to escalating business costs. e.g. when a food stall owner needs to pay $15k in a foodcourt, guess how much will our teh O kosong costs?
It is amazing to know 10 resale hdb flats has done deal of at least $900k after the last CM. What is KBW doing about it? They can say 80 plus percent is staying in HDB flats. A detailed study may show that more are staying in condo and renting out hdb flats. :doh:
Minimum wage is bad I would say. I wouldn't recommend MWS. I feel our scheme is better where the government co-pay.
But for hawker, they should stop leasing out to private entity. This one is no brainer.
A hawker should stay as it is. PAP is shooting themselves again :doh:
personally, i am not too sure about the co-funding of wage increments. after 3 years of co-subsidies, the firms are screwed.
and teh O kosong is easily more than a dollar nowadays, depending on location! :scared-3: :scared-3:
for the record if i were to buy a car and a house today under new ruling i DO NOT think i can afford the dp....:cool:....god bless younger sporeans...:2cents:
It is amazing to know 10 resale hdb flats has done deal of at least $900k after the last CM. What is KBW doing about it? They can say 80 plus percent is staying in HDB flats. A detailed study may show that more are staying in condo and renting out hdb flats. :doh:
last month hdb resale transactions PLUNGED to 750 units...half that of a year ago...:cool:
You did not see the trend that the richer ones can purchase them while the rest just have to stay put.
last month hdb resale transactions PLUNGED to 750 units...half that of a year ago...:cool:
You did not see the trend that the richer ones can purchase them while the rest just have to stay put.
just like all the data in spore always got loophole for the rich...money is KING:doh:
That is why have been accumulating bullets since the 2nd CM.
just like all the data in spore always got loophole for the rich...money is KING:doh:
That is why have been accumulating bullets since the 2nd CM.
Bro, accumulating bullet is one thing.... if you already have assets generating passive income, your bullet automatically reload....
Hahahahahahaha
Bro, accumulating bullet is one thing.... if you already have assets generating passive income, your bullet automatically reload....
Hahahahahahaha
It is so true. Building the first tap is always the most difficult.
Yes. Different avenues of generating income. From a small bullet to a 155 laden gun ammunition. Can fire a long way.
Bro, accumulating bullet is one thing.... if you already have assets generating passive income, your bullet automatically reload....
Hahahahahahaha
That is why have been accumulating bullets since the 2nd CM.
Accumulating bullets is good.
But the target board seems to keep moving further and further away with each cm passed, while our vision gets poorer and poorer as the years go by.
Accumulating bullets is good.
But the target board seems to keep moving further and further away with each cm passed, while our vision gets poorer and poorer as the years go by.
Bro, you already have assets giving you constant bullets... Think of those who accumulate bullet only to have the target doubled. Which means bullet not enough, and accumulate and process repeated...
The once who suffered are the ones who did not buy additional....
:scared-4::scared-4:
Now one to buy also cannot... So the money they saved cannot provide sufficient bullets (passive income) and comes with higher risk - they now need to dabble in other equities. Hopefully, wont get burnt.:(
Properties will now become commodities in the journey towards a perfect home.
Trade up every 4 years (or 5 if its hdb). Repeat for 2 to 3 cycles and one should be within reach of the dream house. Er sorry hor, one house only ok.
Investment yields are becoming a thing of the good old days with dwindling returns due to higher cost of goods and services, shorter lifespan of fixtures and fittings, as well as increased taxes that keep gnawing at whatever thin profit margins left alongside general inflation and wage freezes.
Bro, you already have assets giving you constant bullets... Think of those who accumulate bullet only to have the target doubled. Which means bullet not enough, and accumulate and process repeated...
The once who suffered are the ones who did not buy additional....
:scared-4::scared-4:
Now one to buy also cannot... So the money they saved cannot provide sufficient bullets (passive income) and comes with higher risk - they now need to dabble in other equities. Hopefully, wont get burnt.:(
Haha. DJ and STI upping much recently rite?
Your target open for interest liao i think. Welcum to MMWorld.
Accumulating bullets is good.
But the target board seems to keep moving further and further away with each cm passed, while our vision gets poorer and poorer as the years go by.
Thats why you better have a team of snipers. Or make sure you use a machine gun. But it needs a lot of bullets lor. Well at least you 'bao chiak'.
thomastansb
08-03-13, 11:18
Resale flats benefit Singaporeans. They buy low sell high.
KBW don't need to do anything. HDB has 250k BTO flats but if you choose to buy 900k flat, then either you are rich or you are daft.
But I agree that HDB flats shouldn't be allowed to lease out fully. 1 room still ok. Whole flat is nonsense.
It is amazing to know 10 resale hdb flats has done deal of at least $900k after the last CM. What is KBW doing about it? They can say 80 plus percent is staying in HDB flats. A detailed study may show that more are staying in condo and renting out hdb flats. :doh:
thomastansb
08-03-13, 11:20
House is cheap. I still don't understand why people are saying they can't afford downpayment.
Car is a luxury. Might as well you say I don't have DP for a yacht as well.
for the record if i were to buy a car and a house today under new ruling i DO NOT think i can afford the dp....:cool:....god bless younger sporeans...:2cents:
Regulators
08-03-13, 11:21
then hdb landlords can still lock one room and lease out whole flat under room rental contract. bottomline is hdb cannot control where people should or should not stay
Resale flats benefit Singaporeans. They buy low sell high.
KBW don't need to do anything. HDB has 250k BTO flats but if you choose to buy 900k flat, then either you are rich or you are daft.
But I agree that HDB flats shouldn't be allowed to lease out fully. 1 room still ok. Whole flat is nonsense.
Quickly get into shares now! Cash from potential buyers for properties, cars will flow there...
thomastansb
08-03-13, 11:28
Like in army, do anything you want but don't get caught.
then hdb landlords can still lock one room and lease out whole flat under room rental contract. bottomline is hdb cannot control where people should or should not stay
wow this rumor is so real, CAPL/CIT tumbles 2-3% already... :scared-5:
With the advancement in technology, things are getting smaller just like nanotechnology. There are always ways to shot it. It is always first mover advantage.
Accumulating bullets is good.
But the target board seems to keep moving further and further away with each cm passed, while our vision gets poorer and poorer as the years go by.
wow this rumor is so real, CAPL/CIT tumbles 2-3% already... :scared-5:
wah double income from selling house and the stock market..
*salute* to the person starting this rumour.
bargain hunter
08-03-13, 14:10
even wing tai is down. but if the rumours r true, why r the banks so strong? hee.
wow this rumor is so real, CAPL/CIT tumbles 2-3% already... :scared-5:
propertychap
08-03-13, 16:01
no news mean good news?should be just rumours.its barely 2 months after the last round
even wing tai is down. but if the rumours r true, why r the banks so strong? hee.
Bank of course strong la.. So much loan on their balance sheet for the next 30 years.. Just need to sit back and collect interest...
the highly anticipated cm8 turned out to be the theme for MAS annual d&d, COME MAKAN @8 today.
No news leh, who wants to report police? Catch that person?
Didnt check the news yesterday evening. What was the CM?
The closest semblence to a CM is the setting of quota for non citizens renting hdb flats.
thomastansb
09-03-13, 08:35
Cheating measures. 50% of Senett and Trilliq sold.
Didnt check the news yesterday evening. What was the CM?
phantom_opera
09-03-13, 09:07
Cheating measures. 50% of Senett and Trilliq sold.
lol new launch best tactics, buy now b4 it is too late
lol new launch best tactics, buy now b4 it is too late
This CM rumour works so well for Senett Residences. Sold about 80% on first weekend launch!
DKSG
Have cooling measures become heating measures?
I can only see with more cooling measures, it will wipe out more people who can barely come up with the ABSD for their 2nd/3rd properties.
Either those group buy now at the high price or wait till the cooling measures forbid them from buying.
:cheers6:
Or wait for the unwinding of the cooling measures which nobody can tell when that will happen.
Or wait until such times when property prices cools off and then adding the ABSD that time will be like the current prices... :beats-me-man:
Cheating measures. 50% of Senett and Trilliq sold.
This CM rumour works so well for Senett Residences. Sold about 80% on first weekend launch!
Sorry to ask.. Information I gathered from other bros here is that Senett sold around 200 units while Trilliq managed to sell around 100+ unit. That is abit far from 50% for Trilliq and 80% for Senett. You guys have the latest figures?
there are a large group of hdb owners who bought BTO and fulfilled their MOP and currently looking into buying a 2nd properties.
These group of people will made up of the demand for pte ppty assuming they are keeping their hdb to rent out.
They are currently racing time with the govt, either they raise cash fast enough to fulfill their dream of staying in PC and rent out hdb or govt release new cooling measures to at least keep them away for a few years.
:cheers6: :cheers6:
Can they raise substantial amounts of cash in a matter of weeks or months?
rattydrama
11-03-13, 21:31
This CM rumour works so well for Senett Residences. Sold about 80% on first weekend launch!
DKSG
i think the entry price is about right.. heard just around $1350 psf!! layout is good as well.
good location and right entry price, buyer will snatch despite cooling measures.
i think the entry price is about right.. heard just around $1350 psf!! layout is good as well.
good location and right entry price, buyer will snatch despite cooling measures.
6months ago, i wouldn't have imagined the market finding potong pasir at $1,350psf palatable.
Can they raise substantial amounts of cash in a matter of weeks or months?
There are such facilities call "cash line" " easy credit":spliff2:
There are such facilities call "cash line" " easy credit":spliff2:
cash line to flip properties back then when it was allowed maybe still can, but cash line to go for the long term hold? isn't that like inviting trouble to your own door step?
rattydrama
11-03-13, 21:41
6months ago, i wouldn't have imagined the market finding potong pasir at $1,350psf palatable.
its not potong pasir, its potong pasir mrt!! see the magic word?? haha
its not potong pasir, its potong pasir mrt!! see the magic word?? haha
my bad, i should put on my reading glasses. lol.
Yes.. The location is good... Next to MRT and near to town also...
After MIW win back the area, of course price will raise there, benefit those who stay at that area :cool:
6months ago, i wouldn't have imagined the market finding potong pasir at $1,350psf palatable.
then they should announce a suburban mall there. then the residents there really ho say liao.
got to wait for Concept Plan 2013, maybe there will be pot of land use to build a big mall? Really Happy for my friends who stay there.
'They' will do anything they can to show case how well this area are taken care by them after win back in 2011, which is good.
but they got to let go other area "don't belong" to them anymore, to show the differ.
if not, everyone will vote "A" to serve, but want "B" to serve them too.
Wait long long, no more such thing.
then they should announce a suburban mall there. then the residents there really ho say liao.
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