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xebay11
14-09-09, 14:24
SINGAPORE, Sept 14 - Singapore will tighten rules on housing loans to make it tougher for people to borrow, National Development Minister Mah Bow Tan said on Monday according to state television.
With the new rules that come into effect immediately, banks and developers will not be allowed to offer housing loans whereby the borrower only pays the interest and defers repayment of the principal to a later date, Channel NewsAsia said.
Home prices in Singapore have soared in recent months, with transactions hitting record monthly highs, as buyers flock to showrooms for new apartments.

Property prices to fall?

bargain hunter
14-09-09, 14:27
woohoo, anti speculation whacking has started. :)



SINGAPORE, Sept 14 - Singapore will tighten rules on housing loans to make it tougher for people to borrow, National Development Minister Mah Bow Tan said on Monday according to state television.
With the new rules that come into effect immediately, banks and developers will not be allowed to offer housing loans whereby the borrower only pays the interest and defers repayment of the principal to a later date, Channel NewsAsia said.
Home prices in Singapore have soared in recent months, with transactions hitting record monthly highs, as buyers flock to showrooms for new apartments.

Property prices to fall?

sabian
14-09-09, 14:34
SINGAPORE, Sept 14 - Singapore will tighten rules on housing loans to make it tougher for people to borrow, National Development Minister Mah Bow Tan said on Monday according to state television.
With the new rules that come into effect immediately, banks and developers will not be allowed to offer housing loans whereby the borrower only pays the interest and defers repayment of the principal to a later date, Channel NewsAsia said.
Home prices in Singapore have soared in recent months, with transactions hitting record monthly highs, as buyers flock to showrooms for new apartments.

Property prices to fall?


You can post the web link?

jonleelk
14-09-09, 14:38
You can post the web link?

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1004850/1/.html

dtrax
14-09-09, 14:41
lol PAP steps in at last

mezo
14-09-09, 14:42
You can post the web link?

Straits Times article :

THE Government has stepped in to temper exuberance in the property market and preempt speculative bubble from forming.
With immediate effect, it will make it tougher for home buyers to borrow by disallowing interest absorption scheme and interest-only loans to prevent excessive speculation, National Development Minister Mah Bow Tan announced in Parliament on Monday.
This means that banks and developers will not be allowed to offer housing loans whereby the borrower only pays the interest and defers
repayment of the principal to a later date.
Mr Mah also announced that the Government will reinstate land sales through its confirmed list system and increase the supply of sites under the "reserve list".
Sale of state land under the confirmed list was suspended for the first half 2009 Government Land Sales (GLS) Programme to help stave off oversupply risk as the property market here was then on a downtrend.
Instead, state land was only made available under the 'reserve' list system for the first half of the year.
Under the reserve list system, the government releases a site for sale only if an interested party submits an application with a minimum price that is deemed acceptable.
By contrast, land parcels under the confirmed list will be tendered according to scheduled dates - which could translate to more residential property launches.
Mr Mah said speculation was trickling back into the property market and the measures were taken to prevent the overheating.
New home sales in Singapore have shot through the roof recently. Resale prices of many popular projects have also risen from the lows early this year.

What is more drastic is that it has disallowed Interest Absorption Scheme. Similar to the ban on the DPS earlier. This will hit a lot of potential buyers and cause them to think twice.

xebay11
14-09-09, 14:45
Showrooms will be empty now.

sabian
14-09-09, 14:48
Thanks all:)

It will not do much as IAS is rather stringent compared to DPS and most buyers lately did not opt for IAS.

But the move (to suspend IAS) itself will be louder than the actual suspension of IAS. It signifies the govt's stand that prices are a little too high.


The high-end hasn't had its day in the sun yet so until that happens...

WolleyDragon
14-09-09, 14:49
Showrooms will be empty now.

doubt so...if you read the fine details, this IAS scheme withdrawal is only applicable to developments launched after today.. existing showrooms offering IAS will still be able to offer this scheme (same as the DPS withdrawal)..

jonleelk
14-09-09, 14:49
Agents for the coming Hundred Trees and The Interlace will be :banghead: .

Now I think no more need to submit blank cheque to go look-see during the VVIP preview liao.

xebay11
14-09-09, 14:50
Flippers would be badly affected if prices come down due to this negative sentiment.

xebay11
14-09-09, 14:51
doubt so...if you read the fine details, this IAS scheme withdrawal is only applicable to developments launched after today.. existing showrooms offering IAS will still be able to offer this scheme (same as the DPS withdrawal)..

Yes but flippers would be absent this time, as they would be unsure of where prices will go now.

dtrax
14-09-09, 14:56
there is always 2 sides to everything.. less speculation if it translates to less pple buying properties if they belong to the group (little/no holding power) who can only afford 20% downpayment n balance upon TOP. Developers will be more cautious in pricing their new launches without IAS. I would prefer a healthy growth in property prices rather than sudden escalation in psf in OCR/RCR with peak high prices

On a side note, many recent new launches have also seen pple preferring normal progressive scheme with more discounts like prime properties in Volaris, Sophia - only 20% opt IAS and several other launches. Assuming those buying into properties are cash rich w/o IAS makes no diff if the buying trend continues

dtrax
14-09-09, 14:59
Yes but flippers would be absent this time, as they would be unsure of where prices will go now.

yah agreed flippers who caused prices to go up might probably be gone if they buying with only 20% down

andy
14-09-09, 15:04
Yes but flippers would be absent this time, as they would be unsure of where prices will go now.

Think this is good news to nip any potential "bubble" in the bud. Prices will stablize or appreciate according to real market condition and sentiments.

bargain hunter
14-09-09, 15:20
let's see how many options expire in the months ahead...

sealover
14-09-09, 15:44
The news is anticipated by both developers and buyers as Mah hinted few times already. SGX property counters all very red after the news.

Everyone should agree this is good for long run ....

Let's see whether the developers will lower asking price 2moro :banghead: .....

Laguna
14-09-09, 15:53
Business Times - 14 Sep 2009

S'pore govt acts to cool property market SINGAPORE - Singapore's Minister for National Development Mah Bow Tan has just announced measures for a 'stable and sustainable property market'.
Among other things, his Ministry will resume selling land under the confirmed list in the first half of next year. Such land sales were suspended in October last year in the aftermath of the global financial crash. The Government will also include sites for executive condos, a hybrid between public and private housing, in the confirmed list to offer more housing choices.
Secondly, the Government is banning interest absorption scheme (IAS) and interest-only housing loans (IOL) with immediate effect, ie Sept 14, 2009. This measure will apply to all private residential projects. The only exception will be uncompleted private residential projects where units had already been offered for sale under IAS before Sept 14.
Interest-only housing loans will be disallowed with immediate effect. 'These schemes could encourage property speculation in a buoyant market where prices are rising rapidly, as they are forms of housing loans that entirely eliminate or substantially lower regular instalment payments for property purchasers in the first few years before the properties are completed,' a statement by the government said.
As well, the Government said that measures announced in Budget 2009 in January this year to help stabilise the property market at the time will not be extended when they expire. Most of the measures expire in Jan 2010 while one expires in Jan 2011.
The measures are allowing a one-year extension of project completion period, allowing reassignment of Government Land Sales site and private land owned by foreign developers, giving developers upto four years to dispose of all private residential units in the development, allowing developers to rent out unsold private residential units for a maximum of four years, and allowing upto two years of property tax deferral for land under development.
'We are currently seeing signs of heightened speculative activity, although the level of speculation is not yet extreme,' Mr Mah told Parliament on Monday.
'The current low interest rate environment has also drawn more buyers into the market,' he added.
'It is in everyone's interest to have a steady property market where prices move stably in line with economic fundamentals. If excessive speculation develops and a property bubble forms, eventually a severe correction must take place,' Mr Mah said in his speech.
Property counters retreated after Mr Mah's announcement.
The Government will also increase supply on the reserve list for first half 2010 to meet possible increase in demand. 'With reinstatement of the confirmed list and more sites on the reserve list, the public can be assured that there will continue to be a steady supply of private housing,' Mr Mah said. -- BT NEWSROOM


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lifeisgreat
14-09-09, 15:58
what means by mr. mah ? so price will down as fast as it goes up !? mkt is crazy.... i tot we are in a 30yrs most serious recession...

dormer
14-09-09, 16:24
I hope the remove of IAS can bring good news to the resales market. I don't understand why a lot of current buyers still go for developer units rather than resales units where they can buy at a lower price.

Cactus72
14-09-09, 16:52
CDL share dropped drastically this afternoon. I think it is due to this news as they are launching 100 trees but with this rule kicks in, I believe there will be less sales.

esurprise
14-09-09, 16:52
[quote=dormer]I hope the remove of IAS can bring good news to the resales market. I don't understand why a lot of current buyers still go for developer units rather than resales units where they can buy at a lower price.[/quote


For investors, the resales units looks cheaper mainly because developers have been pushing the price up since there are demand. for example (1)speculators swamping showflats (2)Give blank cheques? no problem, (3)Loan shceme via IAS, pay interest only loan (4) Aiya, anyway since TOP in 3yrs time, alot of time to sub-sales.

So with this attitude, buyer love to buy new units rather than ready units. Anyway, rental market is still soft, what for buy ready unit?


With this news kick-in, developer going to adjust/drop price accordingly, that means its not going to be good news for open market, why? because resales market also need to adjust/drop price accordingly otherwise how to competite with developer new units? plus rental market is still at bottom. what is there for investors?

Correct or not?


MY comment is based from investor point of view. For owner-occupiers intention, open makret/resales market/sub-sales market/preview/VVIP preview/official launch, anytime also can buy as long as one like it.

Correct or not?

matadorepy
14-09-09, 17:10
[quote=dormer]I hope the remove of IAS can bring good news to the resales market. I don't understand why a lot of current buyers still go for developer units rather than resales units where they can buy at a lower price.[/quote


For investors, the resales units looks cheaper mainly because developers have been pushing the price up since there are demand. for example (1)speculators swamping showflats (2)Give blank cheques? no problem, (3)Loan shceme via IAS, pay interest only loan (4) Aiya, anyway since TOP in 3yrs time, alot of time to sub-sales.

So with this attitude, buyer love to buy new units rather than ready units. Anyway, rental market is still soft, what for buy ready unit?
Like that property counters may see another 15%-20% slide. My gut feel is that STI per se would down 5-10% this October Liao :sleep:

With this news kick-in, developer going to adjust/drop price accordingly, that means its not going to be good news for open market, why? because resales market also need to adjust/drop price accordingly otherwise how to competite with developer new units? plus rental market is still at bottom. what is there for investors?

Correct or not?


MY comment is based from investor point of view. For owner-occupiers intention, open makret/resales market/sub-sales market/preview/VVIP preview/official launch, anytime also can buy as long as one like it.

Correct or not?

wkang1970
14-09-09, 18:02
CDL share dropped drastically this afternoon. I think it is due to this news as they are launching 100 trees but with this rule kicks in, I believe there will be less sales.

so this project will price around 700psf? :)

moneyspinner
14-09-09, 20:18
[quote=dormer]I hope the remove of IAS can bring good news to the resales market. I don't understand why a lot of current buyers still go for developer units rather than resales units where they can buy at a lower price.[/quote


For investors, the resales units looks cheaper mainly because developers have been pushing the price up since there are demand. for example (1)speculators swamping showflats (2)Give blank cheques? no problem, (3)Loan shceme via IAS, pay interest only loan (4) Aiya, anyway since TOP in 3yrs time, alot of time to sub-sales.

So with this attitude, buyer love to buy new units rather than ready units. Anyway, rental market is still soft, what for buy ready unit?


With this news kick-in, developer going to adjust/drop price accordingly, that means its not going to be good news for open market, why? because resales market also need to adjust/drop price accordingly otherwise how to competite with developer new units? plus rental market is still at bottom. what is there for investors?

Correct or not?


MY comment is based from investor point of view. For owner-occupiers intention, open makret/resales market/sub-sales market/preview/VVIP preview/official launch, anytime also can buy as long as one like it.

Correct or not?

100 pct correct. That's the precise reasons why new launches are so popular. Unless rental market pick up, which is rather unlikely in the foreseeable future, 2ndary market will remain in the doldrums unless you are buying to stay!:tongue3:

Lucas
14-09-09, 20:32
Did Mr Mah said how many % of recent launches went for IAS? From news reports, I got the impression that those majority who can afford will go for the progressive payment which is cheaper.:p

kurby
14-09-09, 20:41
I think we overlooked the message that MBT is trying to bring across. What is the objectives that MBT is trying to achieve?

I believe the government think property prices has run ahead of income/GDP growth and hence may not be sustainable. So to prevent a bubble from forming, they introduce measures to contain the price increase.

So think about it....what will happen if say prices continue to soar? Will MBT introduce more measures?? Removing the IAS is just a tool to achieve his objective...which is to contain the price, allow gradual increase in price...

august
14-09-09, 20:43
CDL share dropped drastically this afternoon. I think it is due to this news as they are launching 100 trees but with this rule kicks in, I believe there will be less sales.

Want healthy sales? lower prices lor hehe ~

august
14-09-09, 20:46
I think we overlooked the message that MBT is trying to bring across. What is the objectives that MBT is trying to achieve?

I believe the government think property prices has run ahead of income/GDP growth and hence may not be sustainable. So to prevent a bubble from forming, they introduce measures to contain the price increase.

So think about it....what will happen if say prices continue to soar? Will MBT introduce more measures?? Removing the IAS is just a tool to achieve his objective...which is to contain the price, allow gradual increase in price...

I am more interested to see what he is going to do about HDB prices. Afterall HDB is public housing, and thanks to the pap govt has right now become the most expensive public housing in the world. He must do something, or there may be political price to pay.

wqmai
14-09-09, 20:53
I am more interested to see what he is going to do about HDB prices. Afterall HDB is public housing, and thanks to the pap govt has right now become the most expensive public housing in the world. He must do something, or there may be political price to pay.

The only thing they can do is just to stablise the price but it would remain as the most expensive public housing. If they do more than that by causing the price to come down, they would have to pay a bigger price.

xtink
14-09-09, 21:29
one of the ways to cool off the HDB resale mkt is to increase the salary celing AND increase the supply at the same time. e.g. if ceiling is increased from current 8k to hypothetical 10k, those whom are currently in this bracket would be able to apply as 1st timer for brand new HDB. With this, this group of buyers would not have to look at the resale HDB mkt (since they could think that they are still not there yet to afford a pvt property). However supply must increase in tandem, else those who are really low income owners would be forced out of competition. (but then, real low income group is already protected somehow if they are looking at smaller flats direct from HDB, since higher income group are not eligible for <3 rooms if i'm not wrong)

Alternatively, introduce tier-level kind of subsidy for different income groups, e.g. no subsidy for those earning 8-10k bracket, though you can still buy from HDB 1st hand.

:2cents: thoughts.

echotrain
14-09-09, 21:36
I hope the remove of IAS can bring good news to the resales market. I don't understand why a lot of current buyers still go for developer units rather than resales units where they can buy at a lower price.

Maybe, now the resale market will get more share of the action since the IAS is stopped.

echotrain
14-09-09, 21:40
Now now... I am sure there are people waiting to snap up bargains as you guys expect the prices to fall.

But remember those who has missed the boat, not to miss it AGAIN this time. Don't wait too long.

I'll be looking out...

proud owner
14-09-09, 21:52
Flippers would be badly affected if prices come down due to this negative sentiment.

even if prices dont come off ... they will have hard time finding buyers... cos developers may not offer IAS to subsale buyers ..

unless these buyers have cash .. chances are prices will dip ..

chenjdd
14-09-09, 21:53
why always talk down HDB flat?

We own an HDB flat, as most Singaporean do, I don't like it to depreciate!

I bought my first property in 2000, it's a resale HDB flat, no grant, -- our income exceeds 8000 since the first day we got married. Never mind, price went a bit down for a few years, then slowly appreciate, so far only about 30% up after so many years.
I find such pace very very reasonable (you can say low!) for a growing market! If property price can't go up, the country will be in big trouble!
Why now people are complaining? you have to start at a time and build up,--the point is to have it up, why have to suffer existing owners benefit by government putting up all measures to depress those 80% population's properties?

esurprise
14-09-09, 22:02
I think we overlooked the message that MBT is trying to bring across. What is the objectives that MBT is trying to achieve?

I believe the government think property prices has run ahead of income/GDP growth and hence may not be sustainable. So to prevent a bubble from forming, they introduce measures to contain the price increase.

So think about it....what will happen if say prices continue to soar? Will MBT introduce more measures?? Removing the IAS is just a tool to achieve his objective...which is to contain the price, allow gradual increase in price...

Yes, Yes. removing the IAS is just one tool. Remember he tried to ask buyers to think, think, think? and warn buyer don't overcommit? since it doesn't work, finally, he has to do something.

If it still doesn't work ........... well, you can be sure more remedy will be in line. anything can happen, the sky the limit ..... what about the government to develop private housing and thus has a direct hand to set the market pricing?

Allthepies
14-09-09, 22:03
why always talk down HDB flat?

We own an HDB flat, as most Singaporean do, I don't like it to depreciate!

I bought my first property in 2000, it's a resale HDB flat, no grant, -- our income exceeds 8000 since the first day we got married. Never mind, price went a bit down for a few years, then slowly appreciate, so far only about 30% up after so many years.
I find such pace very very reasonable (you can say low!) for a growing market! If property price can't go up, the country will be in big trouble!
Why now people are complaining? you have to start at a time and build up,--the point is to have it up, why have to suffer existing owners benefit by government putting up all measures to depress those 80% population's properties?

becos HDB flat is to provide a roof over our head, not to speculate and earn money, if HDB keep rising like crazy, then new couples will not be able to afford, then HDB has failed in her duty.... :2cents:

hkching
14-09-09, 22:51
I am more interested to see what he is going to do about HDB prices. Afterall HDB is public housing, and thanks to the pap govt has right now become the most expensive public housing in the world. He must do something, or there may be political price to pay.

What's wrong with that? Because of PAP, 80% of singaporean have an asset that are appreciating all the time.

hkching
14-09-09, 22:56
becos HDB flat is to provide a roof over our head, not to speculate and earn money, if HDB keep rising like crazy, then new couples will not be able to afford, then HDB has failed in her duty.... :2cents:

HDB duty is to provide housing for its citizens. It is for those who needs it. There are plenty of choices for everyone. If people cannot afford the flat at Toa Payoh, then there are more at Sembawang, Punggol or Jurong West. But people just like to complain that there's no flat. When the was excess flats during the last recession, people also complain govt build too much. For everyone who wants government to increase the 8000 income limit, there is 5 needy people who hope the limit stays where it is.

dunatos
14-09-09, 22:58
becos HDB flat is to provide a roof over our head, not to speculate and earn money, if HDB keep rising like crazy, then new couples will not be able to afford, then HDB has failed in her duty.... :2cents:

But we are also a greying nation where most poeple will be retiring in HDB flats. So we will be facing an even greater danger if HDB depreciates.

chenjdd
14-09-09, 23:00
becos HDB flat is to provide a roof over our head, not to speculate and earn money, if HDB keep rising like crazy, then new couples will not be able to afford, then HDB has failed in her duty.... :2cents:

my point is 3% p.a. resale vs resale gain is very reasonable as public sector houses. Those people who complain are self considered, once they buy then they will expect price to go up or not?!
even in current market i am sure every ordinary ones in Singapore can find affordable roof to buy, but you can't say you want all good factors but don't want to pay for them
for those bought directly from government or received grants, they make more profits but that's what government intends to do, right?

xtink
14-09-09, 23:02
is this really happen.. 1st thing i do is SHORT BIG BIG on property counters...


what about the government to develop private housing and thus has a direct hand to set the market pricing?

kurby
14-09-09, 23:11
HDB duty is to provide housing for its citizens. It is for those who needs it. There are plenty of choices for everyone. If people cannot afford the flat at Toa Payoh, then there are more at Sembawang, Punggol or Jurong West. But people just like to complain that there's no flat. When the was excess flats during the last recession, people also complain govt build too much. For everyone who wants government to increase the 8000 income limit, there is 5 needy people who hope the limit stays where it is.

I cannot agree more...i bought a hdb in 2000 too...and guess what...I am gonna fully pay it off in 2010....affordable? Hell yes...much more affordable than the 1000psf that will take me a good 30 years to finish paying off...

And here we have people in a condo forum complaining hdb is expensive hahahaha....

august
14-09-09, 23:45
What's wrong with that? Because of PAP, 80% of singaporean have an asset that are appreciating all the time.


if HDB prices keeps going up, then naturally pte condo will also keep going up
if HDB prices comes down, pte condo prices will also moderate and become more affordable mah ..

kurby
14-09-09, 23:52
I tend to think otherwise....

Private property prices moved first before hdb prices move....it is because private property prices are so high that people start to look to resale hdb for upgrades...

august
15-09-09, 00:02
I tend to think otherwise....

Private property prices moved first before hdb prices move....it is because private property prices are so high that people start to look to resale hdb for upgrades...

actually this time round, it is because HDB prices are so high that ppl notice "hey pay a bit more get condo liao!" and hence why they say this little rally is due to mass mkt upgraders ~

jlrx
15-09-09, 01:23
I cannot agree more...i bought a hdb in 2000 too...and guess what...I am gonna fully pay it off in 2010....affordable? Hell yes...much more affordable than the 1000psf that will take me a good 30 years to finish paying off...

And here we have people in a condo forum complaining hdb is expensive hahahaha....

Where got people in condo forum complaining hdb is expensive? :confused:

It is only those people in the Straits Times forum who complained that hdb is expensive, and our webmaster cut and paste their articles over here.

mogyi
15-09-09, 14:27
ye ye ye !!! price will crash! can buy 2 more units then... thks Mr Mah

greenhorn
15-09-09, 16:26
Those of you waiting for prices to crash...can wait long long or pray hard hard.


MBT already said that the aim of the announced measures are to stabilise the market and ensure sustainability of the property market inline with economic fundamentals. This means no repeat of steep price increases and mad rush to buy we had seen over past 2-3 months but to achieve a more measured crawl up the scale. Overall a win-win for everyone, from first-timers to investors to voters.

Knee jerk reaction to this will be a cooling off period where we will see all players and buyers pause, cool down, think clearly... wait for the next move.:spliff2:

lancelot
15-09-09, 16:57
why always talk down HDB flat?

We own an HDB flat, as most Singaporean do, I don't like it to depreciate!

I bought my first property in 2000, it's a resale HDB flat, no grant, -- our income exceeds 8000 since the first day we got married. Never mind, price went a bit down for a few years, then slowly appreciate, so far only about 30% up after so many years.
I find such pace very very reasonable (you can say low!) for a growing market! If property price can't go up, the country will be in big trouble!
Why now people are complaining? you have to start at a time and build up,--the point is to have it up, why have to suffer existing owners benefit by government putting up all measures to depress those 80% population's properties?
Yah, I hope people like you will start a rival petition to Mah Bow Tan not to interfere with the open market transactions of HDB flats. Some first time buyers are unhappy that they are not able to buy the apartments they want, at the location they want, for the price they want and at the bank loan level they want. So they are writing a petition hoping to get 1,000 signatures to tell MBT, "I wan, I wan, I wan..."

Meanwhile the silent majority - HDB owners who have enjoyed or are enjoying gains from seeing their investments go up - are contentedly sitting on the sidelines. As a result, we hear only voices from one side querulously asking why is Singapore property market is in such a big mess. Maybe if some of them live in US, UK or Spain they might know what is pain, when homeowners lose their pants from plunging property prices.

ipspassion
15-09-09, 21:15
let's see how many options expire in the months ahead...

Who make the money if the options expire?

jlrx
15-09-09, 22:03
Yah, I hope people like you will start a rival petition to Mah Bow Tan not to interfere with the open market transactions of HDB flats. Some first time buyers are unhappy that they are not able to buy the apartments they want, at the location they want, for the price they want and at the bank loan level they want. So they are writing a petition hoping to get 1,000 signatures to tell MBT, "I wan, I wan, I wan..."

Meanwhile the silent majority - HDB owners who have enjoyed or are enjoying gains from seeing their investments go up - are contentedly sitting on the sidelines. As a result, we hear only voices from one side querulously asking why is Singapore property market is in such a big mess. Maybe if some of them live in US, UK or Spain they might know what is pain, when homeowners lose their pants from plunging property prices.

I help to draft a rival petition to Mr. Mah Bow Tan.


Dear Minister Mah,

You should know which side your bread is buttered and who put you in power, it is we the 80% of Singaporeans who own HDB flats!!!

Just because we have been the silent majority doesn't mean you can take us for granted and listen to those who make lots of noise.

We want HDB flat prices to be HIGH-HIGH-HIGH!!!

We want Cash Over Valuation (COV) to be HIGH-HIGH-HIGH!!!

So that we feel RICH-RICH-RICH!!!

Yours truly,

Your Heartland Voters

cher
15-09-09, 22:10
Who make the money if the options expire?

The developers. And they get to resell the unit again.:D

echotrain
15-09-09, 23:00
Yah, I hope people like you will start a rival petition to Mah Bow Tan not to interfere with the open market transactions of HDB flats. Some first time buyers are unhappy that they are not able to buy the apartments they want, at the location they want, for the price they want and at the bank loan level they want. So they are writing a petition hoping to get 1,000 signatures to tell MBT, "I wan, I wan, I wan..."

Meanwhile the silent majority - HDB owners who have enjoyed or are enjoying gains from seeing their investments go up - are contentedly sitting on the sidelines. As a result, we hear only voices from one side querulously asking why is Singapore property market is in such a big mess. Maybe if some of them live in US, UK or Spain they might know what is pain, when homeowners lose their pants from plunging property prices.

I don't own HDB. But I feel for the current owners which are the silent majority like you said. If prices of HDB don't rise, how can they upgrade?

You can't have your cake and eat it. If the more central flats are unaffordable, there are plenty at the fringes of the island that are, just whether you take the bite. Just leave the market alone. No buyer where got seller?

cheerful
16-09-09, 14:42
I don't own HDB. But I feel for the current owners which are the silent majority like you said. If prices of HDB don't rise, how can they upgrade?

You can't have your cake and eat it. If the more central flats are unaffordable, there are plenty at the fringes of the island that are, just whether you take the bite. Just leave the market alone. No buyer where got seller?

Actually, it's all about timing lah ... which generation u belong to ... juz like some of us may complain abt not having arrived into this world a decade or two earlier, so now the younger generations may feel the same way lor ..

teddybear
16-09-09, 17:10
The younger generations cannot afford central area properties, particularly private properties so they complain? Wait long long lah. It is every country's govt desire to aim for 3% steady inflation rate because this will make the people feel good, particularly those older age people and own assets like properties which they can then trade-down to cash out and have money to retire (don't forget, they are making up of bigger and bigger percentage of the population and their votes are heavier than the younger generation). If the youngs cannot afford property in central area, those young generations can go buy in Jurong West, Punggol or Sengkang or Woodlands HDB flats, still cheap. If they still not happy and they are so capable, migrate lor (still got many foreigners want to come in here). No point keep complaining as their votes are getting forming smaller and smaller percentage.


I don't own HDB. But I feel for the current owners which are the silent majority like you said. If prices of HDB don't rise, how can they upgrade?

You can't have your cake and eat it. If the more central flats are unaffordable, there are plenty at the fringes of the island that are, just whether you take the bite. Just leave the market alone. No buyer where got seller?

cheerful
16-09-09, 17:23
yah mann ... betta buy when it's still cheap mann .. else, wait some more really no more (cheap) ... cheong ahh!!


If the youngs cannot afford property in central area, those young generations can go buy in Jurong West, Punggol or Sengkang or Woodlands HDB flats, still cheap. If they still not happy and they are so capable, migrate lor (still got many foreigners want to come in here). No point keep complaining as their votes are getting forming smaller and smaller percentage.