View Full Version : The real effects of the CMs...MY view
I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....:cool:
What are your thoughts....:cool:
It is SO difficult to play property now...unless you have deep pockets:cool:
no more easy access to $$$:cool:
DAMM sianz:doh::doh::doh:
how does the rich get richer from the CMs?
The CM's are put in place by the government to protect the middle class from losing their shirts paying waaay to much for properties. The ultimate cooling measure is the massive supply of properties that will TOP from now to 2017 , when this glut hits and prices go down the government will remove the CM's and keep things from getting too ugly , I think the CM's are the right thing to do and the time to buy is when they are rolled back as this is when the governemnt are signaling prices are at levels they are happy with
proud owner
29-11-13, 16:51
I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....:cool:
What are your thoughts....:cool:
It is SO difficult to play property now...unless you have deep pockets:cool:
no more easy access to $$$:cool:
DAMM sianz:doh::doh::doh:
this is the WORD govt don't want to see ....
thomastansb
29-11-13, 17:00
Don't get you.
A middle class person as first timer can buy a property without SSD.
A rich person who owns multiple condos need to pay 7 or 10% SSD.
I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....:cool:
What are your thoughts....:cool:
It is SO difficult to play property now...unless you have deep pockets:cool:
no more easy access to $$$:cool:
DAMM sianz:doh::doh::doh:
the game, always been, is about access to $$
No $ no talk.
Don't get you.
A middle class person as first timer can buy a property without SSD.
A rich person who owns multiple condos need to pay 7 or 10% SSD.
once middle class by 1 property he is in NO position to multiply his portfolio and buy more unlike the rich who can easily absorb the ABSD...:cool:
this is the WORD govt don't want to see ....
yes u are right:cool:
The CM's are put in place by the government to protect the middle class from losing their shirts paying waaay to much for properties. The ultimate cooling measure is the massive supply of properties that will TOP from now to 2017 , when this glut hits and prices go down the government will remove the CM's and keep things from getting too ugly , I think the CM's are the right thing to do and the time to buy is when they are rolled back as this is when the governemnt are signaling prices are at levels they are happy with
good point....:cool:
how does the rich get richer from the CMs?
basically no more competition from poor and middle class...cos of the cms...what is 70k absd for a 1 million property for someone who is rich....he can continue to build his portfolio while middle and poor class struggle with 1 or 2 properties:cool:
basically no more competition from poor and middle class...cos of the cms...what is 70k absd for a 1 million property for someone who is rich....he can continue to build his portfolio while middle and poor class struggle with 1 or 2 properties:cool:
So the rich sell to who?
Or the rich just accumulate properties and rent them out?
The effect of cooling measure will force people to focus on their business and career instead of dreaming to get rich from flipping property.
walkthetiger
29-11-13, 19:45
I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....:cool:
What are your thoughts....:cool:
It is SO difficult to play property now...unless you have deep pockets:cool:
no more easy access to $$$:cool:
DAMM sianz:doh::doh::doh:
Property possesses full potential if everyone dream to grab multiple properties, while the middle class dream of a retirement living with little bit of rental. With these,the rich can continue to speculate. Everybody wins, but bubble grew, and govt worry.
Now gov stops them, property price appears going over hill. Only left rich sells to another rich, future will be limited. Foreign investor seems cool off as well.
Haha …Li Ka-shing sells, therefore I have decided to cash out.
walkthetiger
29-11-13, 20:07
The effect of cooling measure will force people to focus on their business and career instead of dreaming to get rich from flipping property.
This is correct.
Imagine, every middle class dreams to retire earlier with rental income...that will only lead gov outsources FT to replace them eventually in this nation aka factory produces work. All ended up in a vicious negative circulation again... fall comes earlier this way.
So the rich sell to who?
Or the rich just accumulate properties and rent them out?
bro the richest people in the world have all made their money thru property.....RENTAL.....even if cannot rent do u honestly think a 1 million property bought today will still be worth 1 million in 2030:confused::confused::confused:
bottomline.....property $$$ property$$$ property $$$$
walkthetiger
29-11-13, 21:06
bro the richest people in the world have all made their money thru property.....RENTAL.....even if cannot rent do u honestly think a 1 million property bought today will still be worth 1 million in 2030:confused::confused::confused:
bottomline.....property $$$ property$$$ property $$$$
In Singapore, it may appear a little different... govt here has full control over everything, good or bad debatable, depends you come from which angle.
In Singapore, it may appear a little different... govt here has full control over everything, good or bad debatable, depends you come from which angle.
very true but if u are in the right political camp shld not be a problem:cheers1:
once middle class by 1 property he is in NO position to multiply his portfolio and buy more unlike the rich who can easily absorb the ABSD...:cool:
Maybe can tell us where in three world rich have to issues generating more wealth regardless or good market or poor market?
When market crashed the middle class kana burn to death then will it be government fault again? Then perhaps then those get burn will ask when government never warn them..
Wat irony.
basically no more competition from poor and middle class...cos of the cms...what is 70k absd for a 1 million property for someone who is rich....he can continue to build his portfolio while middle and poor class struggle with 1 or 2 properties:cool:
Lol . Market good rich mike. Market bad rich still can make. But wat abt those rich that over leverage n die one leh?
When lehmen happen May rich also die wat. Don't. Mean they can buy.
But this cm now open the door for those who mtb to enter the market. Which is fair.just don't be greedy. How can u expect garmen make each person super rich? Coz when all are rich the will feel same same no feeling they are rich.
Which is the problem now. Just take a typical Singaporean with the typical counter part in Asia.
property is the MOST UNPRODUCTIVE investment
same unit
same location
same size
there is nothing productive come out from the investment
unlike investment to R&D to develop new technology & new product, investment to grow business, etc
nonetheless, property investment is perceived sure-win long-term investment that every tom, dick and harry want to get their hands on
hence, price goes higher-n-higher ... building castle in the air
yes, rich does get richer because only rich can play & flip property
poor want to have a roof
middle class want to upgrade and pay through their nose with savings and pension (aka cpf)
CMs are helping to limit peasants paying through their noses or at least not through their bones
no such big head don't wear such big hat ...
It is a fallacy that once govt remove CMs, it can cure the oversupply.
Either the CMs are wrong or the oversupply are wrong, I don't believe both are correct at the same time.
The CM's are put in place by the government to protect the middle class from losing their shirts paying waaay to much for properties. The ultimate cooling measure is the massive supply of properties that will TOP from now to 2017 , when this glut hits and prices go down the government will remove the CM's and keep things from getting too ugly , I think the CM's are the right thing to do and the time to buy is when they are rolled back as this is when the governemnt are signaling prices are at levels they are happy with
walkthetiger
29-11-13, 21:38
very true but if u are in the right political camp shld not be a problem:cheers1:
In long run, I still have faith in Singapore property...but need to be careful when re-entering...... as I am choosing the right time…......have already set aside some millions.
I don't study economy using in-depth theories or some big time complex philosophies, but I just monitor market sentiment using layman’s theory, good enough to multiply my millions already.
It is not that difficult, but many are blind with greed or fear. Human's altitude never change.
Property possesses full potential if everyone dream to grab multiple properties, while the middle class dream of a retirement living with little bit of rental. With these,the rich can continue to speculate. Everybody wins, but bubble grew, and govt worry.
Now gov stops them, property price appears going over hill. Only left rich sells to another rich, future will be limited. Foreign investor seems cool off as well.
Haha …Li Ka-shing sells, therefore I have decided to cash out.
Li Ka-shing Says Land Prices in China, Hong Kong Deter Purchases
By Kelvin Wong
November 28, 2013 4:31 AM EST
Asia’s Richest Man Li Ka-Shing
Li Ka-shing, Asia’s richest man, said his companies have slowed land purchases in Hong Kong and China as prices have escalated to a high level.
“Land prices in Hong Kong are high, and already showing signs of an unhealthy situation,” Li said, according to a statement from Cheung Kong Holdings Ltd., his flagship developer. “Land prices in China have surged, and we’re unable to win auctions for land.”
The comments by Li, who controls Hong Kong’s biggest developer Cheung Kong, underline concerns that governments in China and in the city are struggling to tame an asset bubble fueled by cheap credit. New home prices in October jumped in all but one of the 70 Chinese cities tracked, the National Bureau of Statistics said Nov. 18. In Hong Kong, home prices remain more than twice as expensive as five years ago, even though they are little changed this year.
“In China’s first-and-second-tier cities, land prices are definitely too high,” said Lee Wee Liat, Hong Kong-based analyst at BNP Paribas SA. “But there’s no short-term solution as it’ll take time for land supply to increase. Cheung Kong (1) is probably waiting for prices to come down before they’ll buy again.”
Cheung Kong’s statement confirms comments Li made in an interview with Southern Metropolis Weekly.
Prices in China have escalated to a level that people are struggling to cope with and developers need to be cautious, Li told the newspaper. Li said he’s optimistic about the market and will continue investing if prices are reasonable.
Record Prices
Evergrande Real Estate Group Ltd. this month paid 5.14 billion yuan ($844 million) for a land site in Beijing, a record for the Chinese capital, The Standard newspaper reported. In September, Sun Hung Kai Properties Ltd., Hong Kong’s second-biggest builder, bought a site in Shanghai for 21.8 billion yuan in an auction, a record for the city.
Property sales in Hong Kong by Li’s companies, which include Hutchison Whampoa Ltd., reached HK$4 billion ($516 million) this year, the lowest in 13 years, because of a lack of government approval, the newspaper reported as Li saying.
Hong Kong’s government has since 2010 introduced extra property taxes and tightened mortgage lending in its attempt to curb home prices that are now the highest among major global cities according to a Savills Plc report in March.
Li, 85, said any suggestion that his companies are withdrawing investments from Hong Kong is “a big joke” and that asset sales are driven by “business reasons,” according to the Cheung Kong statement.
Victor’s Kidnapping
In an interview with Nanfang Daily newspaper published today, Li said his elder son Victor, who has worked with him for almost three decades, is ready to take over the running of his companies. Li said Victor is financially prudent and detail oriented, while younger son Richard is smart and nimble.
Li also told the Southern Metropolis Weekly he paid HK$2 billion in ransom after Victor was kidnapped by Hong Kong gang boss Cheung Tze-keung, nicknamed “Big Spender,” in 1996.
Li said he regretted not having enough security measures in place and that he told Cheung to take the money, flee Hong Kong and “be a decent man.” He said Cheung called him again later and told him he’s gambled all the money away.
Cheung was sentenced to death in 1998 after being tried by authorities in the southern Chinese city of Guangzhou for a series of crimes including the kidnapping of Walter Kwok, then chairman of Sun Hung Kai.
Li, with a fortune of $29 billion, according to the Bloomberg Billionaires Index, expanded his empire even as Hong Kong weathered crises ranging from rioting in the 1960s, a run on the currency in the 1980s, a property collapse in the late 1990s and the outbreak of the SARS virus in 2003.
He stepped up investing in Hong Kong real estate in 1967, after rioting incited by the Cultural Revolution depressed prices. He correctly forecast in 2007 that China’s stock-market bubble would burst and in 2009 predicted the rally in Hong Kong home prices.
http://www.bloomberg.com/news/2013-11-28/li-ka-shing-says-land-prices-in-china-hong-kong-deter-purchases.html
It is a fallacy that once govt remove CMs, it can cure the oversupply.
Either the CMs are wrong or the oversupply are wrong, I don't believe both are correct at the same time.
pty market is sentiment driven. Bad sentiment remove CMs people will also not buy... govt doesnt seem to understand this.
walkthetiger
29-11-13, 22:43
Li Ka-shing Says Land Prices in China, Hong Kong Deter Purchases
He stepped up investing in Hong Kong real estate in 1967, after rioting incited by the Cultural Revolution depressed prices. He correctly forecast in 2007 that China’s stock-market bubble would burst and in 2009 predicted the rally in Hong Kong home prices.
http://www.bloomberg.com/news/2013-11-28/li-ka-shing-says-land-prices-in-china-hong-kong-deter-purchases.html
Mr li surely understand that politics is the forerunner of all things, except when SARs happened.
interesting views...i guess govt has an obligation to protect citizens that might over leverage themselves hence the numerous cms...:2cents:
can sense some stability in the mkt now especially the hdb market...anyway come 2016 election results will show whether cms have done good or bad to the MAJORITY:cheers1:
I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....:cool:
What are your thoughts....:cool:
It is SO difficult to play property now...unless you have deep pockets:cool:
no more easy access to $$$:cool:
DAMM sianz:doh::doh::doh:
assets rich oso cant play leh. wif tdsr n CMs, nid to be cash rich.
auroraborealis
30-11-13, 10:27
actually not necessarily so... read N645 carefully
but need to be private banking customer, heard consumer banks not doing becos scare :)
assets rich oso cant play leh. wif tdsr n CMs, nid to be cash rich.
walkthetiger
30-11-13, 11:45
interesting views...i guess govt has an obligation to protect citizens that might over leverage themselves hence the numerous cms...:2cents:
can sense some stability in the mkt now especially the hdb market...anyway come 2016 election results will show whether cms have done good or bad to the MAJORITY:cheers1:
This thread is giving me another opportunity to sense the market sentiment. The many real rich investors chose to remain silent here; despite fully aware of the situation, many are regular formers here. If in HK, reactions from these people to those CMs will not happen like here, I can give you full guarantee. These people can influence nation policies in HK.
The formers from middle class are leaning toward to support gov policy, clearly show how successful this nation is, gov aka the CEO of this factory is still worth supported by middle class afterall. Although some middle “higher” class chose to KPKB, as unfortunately they are still holding well their multiple properties dreaming of retirement with uncertain rental income twenty years later.
Uniquely Singapore.
walkthetiger
30-11-13, 13:45
Although some middle “higher” class chose to KPKB, as unfortunately they are still holding well their multiple properties dreaming of retirement with uncertain rental income twenty years later.
Uniquely Singapore.
This group could the our future asset rich but cash poor people on the street....I guess.
condoinvestor
30-11-13, 13:55
The real effect of CM.... Govt collects more money....period
The CMs do not work......period
TDSR......now that is like unleashing a wild animal that scares everyone whether you are already in the market or about to jump in.
I am disappointed with MAS and PAP.....period.
walkthetiger
30-11-13, 14:08
The CMs do not work......period
CMs can't solve the fundamental issue, Singapore is too small, and price has to go up. CMs are like an erected wall, put a stop temporary to the middle class, eventually this group will overcome the CMs.
It is segregating the rich and middle group. They have different playground.
CMs can't solve the fundamental issue, Singapore is too small, and price has to go up. CMs are like an erected wall, put a stop temporary to the middle class, eventually this group will overcome the CMs.
It is segregating the rich and middle group. They have different playground.
exactly:cheers1::cheers1::cheers1:
walkthetiger
30-11-13, 20:25
It is segregating the rich and middle group. They have different playground.
Assume you are correct, and then we will only see the rich buying from another rich. The type of property attracts the rich, we all knew.
Few years back before CM, there were too many middle class jumps in to grab lots of "half baked" properties; these properties potential may be affected, if you are correct.
The real effect of CM.... Govt collects more money....period
The CMs do not work......period
TDSR......now that is like unleashing a wild animal that scares everyone whether you are already in the market or about to jump in.
I am disappointed with MAS and PAP.....period.
Hmm so what should have been done. given now everyone have the advantage of hind sight.?
http://www.skyscrapercity.com/showthread.php?t=1650487
30 years later Money in hand is just a piece of paper, so is it now.
Paper value is smaller for sure. Those grandparents who owns FH land are the fortunate ones. Some may not be cash rich now but at least asset rich. Can liquidate, if needed. I believe quite a lot of people here are hoping to do. This works well in a small place like Singapore. :)
http://www.skyscrapercity.com/showthread.php?t=1650487
30 years later Money in hand is just a piece of paper, so is it now.
In Singapore context property will never go wrong no matter where is your entry point, if wrong timing just wait a while longer and collect rental in the meantime...
With inflation at 3%, in 20 years time, prices would have almost doubled... so grab freehold
If you buy insurance annuity or cpf life, when you die, the money left for your children or money left is small, but for property after collecting rental all your life you property is still there
If asset rich but cash poor then, rent out your property and rent a 3 room hdb in the same town as your property or even better, rent a 3 room hdb further away, you easily can have positive cash flow of 1k to 2k per month, that should be enough for basic retirement living
So I really believe that no other investment class force the discipline the discipline into the investor to grow their $$$ and also provide returns and also still ur asset will appreciate...
The risk is much much lower than stocks for singapore context, the chances for a company to go bankrupt or mismanaged is much much higher than for singapore to go bankrupt, so I place all my bets on singapore property
No need to buy islander now as well, it has gone up too much, if want to retire there, wait for the time your are going to retire there before you buy, if the prices go up there, so will singapore prices, so no loss to you but cut out the risk
walkthetiger
01-12-13, 09:52
http://www.skyscrapercity.com/showthread.php?t=1650487
30 years later Money in hand is just a piece of paper, so is it now.
For me, money cashed out now, I can choose to dump it in other areas/things/fields where money can still grow or multiple (if lucky), I also can choose to hold and wait for better time to re-enter. I maybe an old man now, but as along as I am breathing, my investment will carry on, I should be still breathing 20 years later.
In another word, I have full options, but some investors can only hold and pray for the best.
My world is not limited to property; I don't want waiting to be slaughtered by current market sentiment....Good luck to all.
equity and property are inter twined. when equity is on a run u see the property also go up. typical lag of 6mth. If equity slump u will also see property slump.
So maybe it might end up better hold cash? but inflation will erode it way.
i feel the best option is till hold some property with equity and a portion in cash so in a black swan event can go in to swoop up some of each.
Property investment is one very powerful instrument. Look at the no. of tycoons with property portfolio. They have reached such level with the power of "leveraging".
In Singapore context property will never go wrong no matter where is your entry point, if wrong timing just wait a while longer and collect rental in the meantime...
With inflation at 3%, in 20 years time, prices would have almost doubled... so grab freehold
If you buy insurance annuity or cpf life, when you die, the money left for your children or money left is small, but for property after collecting rental all your life you property is still there
If asset rich but cash poor then, rent out your property and rent a 3 room hdb in the same town as your property or even better, rent a 3 room hdb further away, you easily can have positive cash flow of 1k to 2k per month, that should be enough for basic retirement living
So I really believe that no other investment class force the discipline the discipline into the investor to grow their $$$ and also provide returns and also still ur asset will appreciate...
The risk is much much lower than stocks for singapore context, the chances for a company to go bankrupt or mismanaged is much much higher than for singapore to go bankrupt, so I place all my bets on singapore property
No need to buy islander now as well, it has gone up too much, if want to retire there, wait for the time your are going to retire there before you buy, if the prices go up there, so will singapore prices, so no loss to you but cut out the risk
Diversification of personal portfolio is important. It really depends on age, level of wealth, etc. :) Have seen people completely move out from property investment and into commodities, equity, etc.
equity and property are inter twined. when equity is on a run u see the property also go up. typical lag of 6mth. If equity slump u will also see property slump.
So maybe it might end up better hold cash? but inflation will erode it way.
i feel the best option is till hold some property with equity and a portion in cash so in a black swan event can go in to swoop up some of each.
walkthetiger
01-12-13, 12:12
Mr li surely understand that politics is the forerunner of all things, except when SARs happened.
Many years back, the Gov here had advised the middle class not to jump in, but they didn't care. Understandable, as Gov policies were not helping them that time, Gov's support became lowest.
The group turns to property for help and dreaming of retirement with rental income as well, it becomes too hard to resist with all developers helped singing the same tune…. Plus the worry when everybody buys but you don’t, well reflected human’s herd mentality
That was best opportunity, even “half baked” stuffs can like hot cake, and I didn’t miss….
One Word. GREED.
Its the GREED that kills.
One Word. GREED.
Its the GREED that kills.
Yes, of course, we got a good example recently with the 3 musketeer stocks. The people behind it could have made enough money to last 3 life times, but now probably risk bankruptcy, and maybe even the possibility of having to eat Changi curry rice.
The question is how much is enough? When the stock rose from 1 cent to $1, is the profit enough? Apparently, it's not enough. Then the stock rose to nearly $3. Is it enough?
Problem is money is never enough.
if one is renting and waiting for price to lower, I think it is a wrong move. the only reason he should wait longer is he needs to build up cash for down payment. as for multiple property investors, one need to think which cooling measure is likely to be removed and by when. I do think the 7% absd for singaporeans are likely to be removed soon. it will be worth the wait. cash can be invested in high yields investment products in the meantime.
if one is renting and waiting for price to lower, I think it is a wrong move. the only reason he should wait longer is he needs to build up cash for down payment. as for multiple property investors, one need to think which cooling measure is likely to be removed and by when. I do think the 7% absd for singaporeans are likely to be removed soon. it will be worth the wait. cash can be invested in high yields investment products in the meantime.
CM 7%ABSD is a revenue generator.:D
CM TDSR is not a revenue generator.:sleep:
CM 7%ABSD is a revenue generator.:D
CM TDSR is not a revenue generator.:sleep:
It's no longer abt generating revenue a at all expense. 60% TDSR is an existing practice. It's the creative borrowing methods that is killing the mkt. let's wait for 2 years to see what happen to these creative folks who took up board rates.
CM 7%ABSD is a revenue generator.:D
CM TDSR is not a revenue generator.:sleep:
Tax the Rich mah. have $ buy 2nd unit means rich liao. Coz those cannot afford 2nd unit 1 will be jealous. At least see people kana tax happy.
walkthetiger
01-12-13, 22:35
Tax the Rich mah. have $ buy 2nd unit means rich liao. Coz those cannot afford 2nd unit 1 will be jealous. At least see people kana tax happy.
Be fair to them, they have a role in the food chain, if you chase them out, you are not to enjoy life here either.
Be fair to them, they have a role in the food chain, if you chase them out, you are not to enjoy life here either.
I am all for Rich to be here. I understand the eco system. I am just echoing the many people KPKB voice mah. COM PLAIN COM PLAIN mah. coz jealous mah.
walkthetiger
01-12-13, 22:44
I am all for Rich to be here. I understand the eco system. I am just echoing the many people KPKB voice mah. COM PLAIN COM PLAIN mah. coz jealous mah.
Try to appreciate all the goods and bad happened, to allow it widen your vision.
Try to appreciate all the goods and bad happened, to allow it widen your vision.
ok ok EYES WIDE WIDE.. :cool::cool::cool::cool:
I love property.....There is no better feeling than owning a house....
Unfortunately, growing the property portfolio is now almost impossible for the middle class...
The only way is to invest in overseas properties....
But there is nothing like SG property:rolleyes:
I love property.....There is no better feeling than owning a house....
Unfortunately, growing the property portfolio is now almost impossible for the middle class...
The only way is to invest in overseas properties....
But there is nothing like SG property:rolleyes:
you are absolutely right it is IMPOSSIBLE:(
auroraborealis
03-12-13, 13:05
read MAS notice 645 again; approach a private bank or try to get a consumer bank to start the ball rolling
you are absolutely right it is IMPOSSIBLE:(
walkthetiger
03-12-13, 14:10
read MAS notice 645 again; approach a private bank or try to get a consumer bank to start the ball rolling
As for now, i feel most of them are giving up, but they could be back when paycheck get bigger years later.
Private bank comes some risks which the middle class may not dare. MAS should though about this earlier on too.
condoinvestor
05-12-13, 20:28
Hmm so what should have been done. given now everyone have the advantage of hind sight.?
Hi minority,
Wish I knew that answer...I know I sounded a little blunt in my post but over regulation is certainly not the way.
If MAS wants to control the market, control the HDB flats. Go to the root of the problem.
They did not do anything all this time and have suddenly woke up to realize that they were behind the curve and so are now over reacting.
Regulating the private market has had very little effect so far, they have to put more stringent rules on HDB, eg
1. Cannot be rented out, part or whole, only for own use
2. only for SG, resale included
3. If you own private residential property , you must sell HDB within a year
4. PRs who have purchased HDB can only sell to SG,
5. If you want to buy private property, must sell HDB within a year of purchase
These are some examples I can think of that might help, the wave of CMs and TDSR has not achieved much at all. It has just made the govt collect more.
Hi minority,
Wish I knew that answer...I know I sounded a little blunt in my post but over regulation is certainly not the way.
If MAS wants to control the market, control the HDB flats. Go to the root of the problem.
They did not do anything all this time and have suddenly woke up to realize that they were behind the curve and so are now over reacting.
Regulating the private market has had very little effect so far, they have to put more stringent rules on HDB, eg
1. Cannot be rented out, part or whole, only for own use
2. only for SG, resale included
3. If you own private residential property , you must sell HDB within a year
4. PRs who have purchased HDB can only sell to SG,
5. If you want to buy private property, must sell HDB within a year of purchase
These are some examples I can think of that might help, the wave of CMs and TDSR has not achieved much at all. It has just made the govt collect more.
HDB resale prices are already dropping, you still wanna implement more measures?
condoinvestor
05-12-13, 20:57
HDB resale prices are already dropping, you still wanna implement more measures?
Well if I had my way, I will not implement anything except to keep that class of properties for SG and for own use only. Not as investment or rental property. It's ridiculous that I know so many PRs enjoying great returns from their HDBs while some Singaporeans cannot even afford them or are not eligible to buy them.
Btw why is HDB prices dropping? Has it anything to do with CMs or TDSR? Or is it demand vs supply?
Hi minority,
Wish I knew that answer...I know I sounded a little blunt in my post but over regulation is certainly not the way.
If MAS wants to control the market, control the HDB flats. Go to the root of the problem.
They did not do anything all this time and have suddenly woke up to realize that they were behind the curve and so are now over reacting.
Regulating the private market has had very little effect so far, they have to put more stringent rules on HDB, eg
1. Cannot be rented out, part or whole, only for own use
2. only for SG, resale included
3. If you own private residential property , you must sell HDB within a year
4. PRs who have purchased HDB can only sell to SG,
5. If you want to buy private property, must sell HDB within a year of purchase
These are some examples I can think of that might help, the wave of CMs and TDSR has not achieved much at all. It has just made the govt collect more.
a very high % of VOTING population live in HDB if u control too much u know what will happen:cool:
Well if I had my way, I will not implement anything except to keep that class of properties for SG and for own use only. Not as investment or rental property. It's ridiculous that I know so many PRs enjoying great returns from their HDBs while some Singaporeans cannot even afford them or are not eligible to buy them.
Btw why is HDB prices dropping? Has it anything to do with CMs or TDSR? Or is it demand vs supply?
TDSR and many many bto
So any 3xxk or 4xxk condos coming in the pipeline soon? :cool:
So any 3xxk or 4xxk condos coming in the pipeline soon? :cool:
got...iskandar:D:D:D
Well if I had my way, I will not implement anything except to keep that class of properties for SG and for own use only. Not as investment or rental property. It's ridiculous that I know so many PRs enjoying great returns from their HDBs while some Singaporeans cannot even afford them or are not eligible to buy them.
Btw why is HDB prices dropping? Has it anything to do with CMs or TDSR? Or is it demand vs supply?
Singaporean go buy BTO lah. wah lau. Singaporean cannot afford? $1000pm get u a HDB liao. how cheap u want free?
HDB for own use? u are going to create a getto class in singapore. where these folks are decouple from the country growth.
once middle class by 1 property he is in NO position to multiply his portfolio and buy more unlike the rich who can easily absorb the ABSD...:cool:
can't agree more
a very high % of VOTING population live in HDB if u control too much u know what will happen:cool:
i don t think it matters so much to them. Usually the HDB is their only property. Sell high buy high sell low buy low. What they re probably more worried about is how their children can afford housing in the future, and the latest measures helps that. On the contrary i think the ruling party will have a great year in 2016.
So that is the real reason? Bubble in HDB resale prices, but CMs for private condos?! :beats-me-man:
a very high % of VOTING population live in HDB if u control too much u know what will happen:cool:
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