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Thread: More measures to cool market

  1. #1
    Junior

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    Default More measures to cool market

    [FONT=Verdana, Arial, Helvetica, sans-serif]
    The Government on Thursday announced more measures to cool the property market.

    [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]The holding period for imposition of Seller's Stamp Duty (SSD) will be increased from the current three years to four years.
    The SSD rates will be raised to 16 per cent, 12 per cent, 8 per cent and 4 per cent of consideration for residential properties which are bought on or after January 14, 2011, and are sold in the first, second, third and fourth year of purchase respectively;
    The government will also lower the Loan-To-Value (LTV) limit to 50 per cent on housing loans granted by financial institutions regulated by the Monetary Authority of Singapore (MAS) for property purchasers who are not individuals.
    And for property purchasers who are individuals with one or more outstanding housing loans at the time of the new home, the LTV limit on housing loans granted by financial institutions regulated by MAS will be lowered from 70 per cent to 60 per cent.
    The measures will take effect on January 14, 2011.
    [/FONT]

  2. #2
    Go for Smallest Unit

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    Quote Originally Posted by Lovelle
    [FONT=Verdana, Arial, Helvetica, sans-serif]
    The Government on Thursday announced more measures to cool the property market.

    [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]The holding period for imposition of Seller's Stamp Duty (SSD) will be increased from the current three years to four years.
    The SSD rates will be raised to 16 per cent, 12 per cent, 8 per cent and 4 per cent of consideration for residential properties which are bought on or after January 14, 2011, and are sold in the first, second, third and fourth year of purchase respectively;
    The government will also lower the Loan-To-Value (LTV) limit to 50 per cent on housing loans granted by financial institutions regulated by the Monetary Authority of Singapore (MAS) for property purchasers who are not individuals.
    And for property purchasers who are individuals with one or more outstanding housing loans at the time of the new home, the LTV limit on housing loans granted by financial institutions regulated by MAS will be lowered from 70 per cent to 60 per cent.
    The measures will take effect on January 14, 2011.
    [/FONT]
    U beat me to it!

  3. #3
    Exalted

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    Quote Originally Posted by Lovelle
    [FONT=Verdana, Arial, Helvetica, sans-serif]
    The Government on Thursday announced more measures to cool the property market.

    [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]The holding period for imposition of Seller's Stamp Duty (SSD) will be increased from the current three years to four years.
    The SSD rates will be raised to 16 per cent, 12 per cent, 8 per cent and 4 per cent of consideration for residential properties which are bought on or after January 14, 2011, and are sold in the first, second, third and fourth year of purchase respectively;
    The government will also lower the Loan-To-Value (LTV) limit to 50 per cent on housing loans granted by financial institutions regulated by the Monetary Authority of Singapore (MAS) for property purchasers who are not individuals.
    And for property purchasers who are individuals with one or more outstanding housing loans at the time of the new home, the LTV limit on housing loans granted by financial institutions regulated by MAS will be lowered from 70 per cent to 60 per cent.
    The measures will take effect on January 14, 2011.
    [/FONT]
    looks like 50% LTV for non individuals will put Enbloc to a STOP....

    60% LTV....kind of expected...

    the SSD machiam like capital gain tax!.....if market downturn how....those who sold at a loss still kena 4-16% SSD!!! wow....i tink SSD more jialat den cap gain tax leh....

    now really small is beauitful liao......sianz.....more MMs to come

  4. #4
    Junior

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    That's it ... end of the bull run liao

  5. #5
    Exalted

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    Quote Originally Posted by jitkiat
    That's it ... end of the bull run liao
    small units within 1mil will still run.....

  6. #6
    Junior

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    hi kingkong,

    1 time only,,,,this capital gain tax like Australia right ?

    How like that ?

  7. #7
    Senior

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    Default official release from URA website

    [URL="http://www.ura.gov.sg/pr/text/2011/pr11-07.html"]http://www.ura.gov.sg/pr/text/2011/pr11-07.html[/URL]

  8. #8
    Exalted

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    the SSD really HIONG hor....

    if downturn nvr surface within next 2-3yrs...den there will be very few firesale in future liao....

    who will sell their ppty within first 3 yrs....4th yr at 4% to me also ALOT!

    subsale will be dead....agts earn lesser....lol

  9. #9
    Exalted

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    BUY MORE STOCKS!!!!!!!!!!!

    COLLECT ANGBAOS

  10. #10
    Junior

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    Forced holding for 3-4y is definitely too risky from an investment perspective ... what if US 10y bond yield went to 8% 2y later Anything can happen in 4 years !!!

    Pity those who bought > 1kpsf for Jurong Lake District story ... caught at the peak already

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