Will election results affect the housing market?

[devilplate]

With the new mandate given by the people of Tampines (not Singapore), he'll strike off 4 yr SSD and introduce 6 yr SSD.... . He'll add LTV to 40% and lay down a new rule.. no one is to own more than 3 properties in Singapore!!! He'll then have to sell his 3 other properties to meet this new ruling...

Haha vy gd idea.... Tats it for sg

[andy]

The govt should have heard the people loud and clear:
- They want HDB housing prices pegged closer to their costs than so-called "subsidized market rate".
- They want priority to be given for CITIZENS (not their so-called "Singaporeans" that includes PRs (otherwise they should ask PRs to vote for the PAP)) in terms of jobs.
- They want priority to be given for CITIZENS in terms of schools vacancies (e.g. P1 registration, university places etc).
- They want better control of prices for GLCs which are controlling monopoly or duopoly businesses in Singapore (e.g. PUB prices, buses, MRT fares etc).
- They want MPs (regardless of party they are from) who can can serve them, listen, and air their greivance to the govt and see that policies implemented have been robustness debated and which will benefit CITIZENS & not PRs & foreigners.

Above implications means low-level foreigners should be kept out as they compete for jobs directly with the lower and middle-classes Singapore citizens.
High-level foreigners will still be welcomed to come here to live, stay, spend money here, buy properties, set up businesses, create jobs for Singapore citizens, all for the benefits of the economy of Singapore,

What are the implications of above? My take is:
a) HDB prices :- Most likely new HDB prices lower, resale HDB prices stagnant to lower.
b) mass market private condos:- Most likely lower with lower resale HDB prices since less HDB upgraders with increasing gap between HDB and condo prices, less middle-income foreigners here hence lesser demand.
c) prime and luxury market private condos :- Most likely no effect since there are relatively few mass market to luxury market upgraders, high-end foreigners coming in not affected.

I think the fact the opposition is stronger in general means that overall the property price will be more moderate in years ahead since in general opposition represents a more socialist rather than capitalist/investment mindset. Policies like in australia where foreigner owned properties can only be sold to a citizen/PR may be implemented.

As PM says, there is a distinct shift in political landscape and ultimately this will have bearing on the housing market.

[devilplate]

Many failed to distinguise hdb and pte ppty...
Mbt failed too..... He go disturb the rich playground by imposing 4yrs ssd n mabe tats y we see rich folks voting against pap.... One of them cud b teddy

Mbt goto wake up his idea.... Control n implement more policies on hdb resale px rather den pte ppty......

For pte ppty just nid to work on LTV

[teddybear]

He made 2 very deadly mistakes:
1) Didn't control spiralling upwards new HDB prices and grossly insufficient supply (newspaper said about 20% of new voters, potentially people looking to buy their first property as well).
2) Impose 4 yrs SSD and 60% LTV on private properties, making many of the top 20% private property owners voting against him & PAP (as you said) as they scare will lower their private property values?
3) the other 60% existing HDB flats owners are neutral on spiralling property prices but got fed up with forever increasing costs of living (inflation >5%) while their salary stagnanted (heard friends saying salary increase 1% late last year) despite so-called robust economic growth and the Ministers getting about 30% pay rise.

Lose-lose actions!

Many failed to distinguise hdb and pte ppty...
Mbt failed too..... He go disturb the rich playground by imposing 4yrs ssd n mabe tats y we see rich folks voting against pap.... One of them cud b teddy

Mbt goto wake up his idea.... Control n implement more policies on hdb resale px rather den pte ppty......

For pte ppty just nid to work on LTV

[teddybear]

What is the difference between PRs and foreigners? You know as long as you have no criminal record and you bring in a big sum of money (think is $10m?), you can instantly become PR despite now that PR is difficult to get (difficult only for working middle class)? As such, any future policy that favors citizens/PRs and restrict selling to citizen & PR will affect mass market properties badly while neutral effect on prime market properties. It is obvious which sector you should invest in private properties going forward.

I think the fact the opposition is stronger in general means that overall the property price will be more moderate in years ahead since in general opposition represents a more socialist rather than capitalist/investment mindset. Policies like in australia where foreigner owned properties can only be sold to a citizen/PR may be implemented.

As PM says, there is a distinct shift in political landscape and ultimately this will have bearing on the housing market.

[andy]

What is the difference between PRs and foreigners? You know as long as you have no criminal record and you bring in a big sum of money (think is $10m?), you can instantly become PR despite now that PR is difficult to get (difficult only for working middle class)? As such, any future policy that favors citizens/PRs and restrict selling to citizen & PR will affect mass market properties badly while neutral effect on prime market properties. It is obvious which sector you should invest in private properties going forward.

PR have more vested interest to buy and invest for longer term. For instance, right now many foreigners are buying because interest rate is so low and to them it is like renting for free. 3M property for 30K interest a year. If foreigner can only sell to PR or citizen then he will think twice since when he need to leave Spore and sell, he may not get back all the capital he invested since there will be a lower buyer base.

[DC33_2008]

They can make more $ when they sell with the strong SGD.

PR have more vested interest to buy and invest for longer term. For instance, right now many foreigners are buying because interest rate is so low and to them it is like renting for free. 3M property for 30K interest a year. If foreigner can only sell to PR or citizen then he will think twice since when he need to leave Spore and sell, he may not get back all the capital he invested since there will be a lower buyer base.

[devilplate]

PR have more vested interest to buy and invest for longer term. For instance, right now many foreigners are buying because interest rate is so low and to them it is like renting for free. 3M property for 30K interest a year. If foreigner can only sell to PR or citizen then he will think twice since when he need to leave Spore and sell, he may not get back all the capital he invested since there will be a lower buyer base.

U failed to distinguish between hdb n pte....

Who dare to complain if they cant afford to upgrade to condo? Ppl r only worried for the 1st timer for not being able to get a hdb flat

Aussie dun hf so call subsidize flats for their citizens ... Tats y they got more rules to curb on the ppty..

[land118]

Many failed to distinguise hdb and pte ppty...
Mbt failed too..... He go disturb the rich playground by imposing 4yrs ssd n mabe tats y we see rich folks voting against pap.... One of them cud b teddy

Mbt goto wake up his idea.... Control n implement more policies on hdb resale px rather den pte ppty......

For pte ppty just nid to work on LTV

Ya, agree, basic fundamentals, he failed to distinguish..., maybe he also got caught up in the craze..., maybe they should made all key people involved in MBT ministry including himself declare property transactions at certain time period before any new policies is made, like 3 mths before measures is implemented, they cannot buy or sell properties, if they do, they should declare, like listed companies directors, they need to declared vested interest, etc.

[teddybear]

Well, you are right. Only middle-class foreigners sell (the mass market properties). The real rich usually don't sell (their prime & luxury properties) as they like to maintain many different properties in many different countries which they can use at any time. Properties are part of their investment and diversification strategy as getting cash back is worse in the face of rapid depreciation of paper money.

PR have more vested interest to buy and invest for longer term. For instance, right now many foreigners are buying because interest rate is so low and to them it is like renting for free. 3M property for 30K interest a year. If foreigner can only sell to PR or citizen then he will think twice since when he need to leave Spore and sell, he may not get back all the capital he invested since there will be a lower buyer base.

[amk]

...property price will be more moderate in years ahead since in general opposition represents a more socialist rather than capitalist/investment mindset

Not so fast yet... PAP is still in full control... The principle of gradual asset appreciation is not wrong. The current problem is just misguided policies, which can be adjusted. Just a few more loud voices in parliament are not going to influence policy makers.

[kingkong1984]

Superb growth muted.

Normal growth expected.

Deliberate regressive prices expected in short term.

How to do it right?

Wait and see.

[JuzMe]

Take profit while you can!!!!!!!

[Geylang OKT]

I think the fact the opposition is stronger in general means that overall the property price will be more moderate in years ahead since in general opposition represents a more socialist rather than capitalist/investment mindset. Policies like in australia where foreigner owned properties can only be sold to a citizen/PR may be implemented.

As PM says, there is a distinct shift in political landscape and ultimately this will have bearing on the housing market.

I agree and I say the direction going forward for the property market is down

[ysyap]

I agree and I say the direction going forward for the property market is down

It will only go down if MBT introd CM5. Otherwise, unlikely lah...

[kingkong1984]

The votes are cm5

Wake up wake up

[devilplate]

The votes are cm5

Wake up wake up

if only Sti is red and the rest is green tmr.....den we really goto repent for 5yrs

[bargain hunter]

seems like sg and rest of asia still seeing fund outflows so prossibly all red tomorrow. LOL.

if only Sti is red and the rest is green tmr.....den we really goto repent for 5yrs

[Wild Falcon]

Waterfront proposal means more nonsensical construction for the next 5 years that may not benefit you. Look at Bishan Park now. Used to be a nice park where everyone including dogs can enjoy. Ever since they started building a $1.2 billion artificial river, the place now look horrible and worse still, cause so much flooding in Bishan. Think twice before u embrace every single "upgrading" projects - some are complete waste of money and only increase conservancy charges.

Potong Pasir prices will go up now with a new waterfront proposal. Too bad this must have won a lot of the new residents in this area.

[Wild Falcon]

Just ban PR from buying HDBs. I'm sure prices will moderate.. But those who own HDB better not kpkb.

Many failed to distinguise hdb and pte ppty...
Mbt failed too..... He go disturb the rich playground by imposing 4yrs ssd n mabe tats y we see rich folks voting against pap.... One of them cud b teddy

Mbt goto wake up his idea.... Control n implement more policies on hdb resale px rather den pte ppty......

For pte ppty just nid to work on LTV

[devilplate]

Just ban PR from buying HDBs. I'm sure prices will moderate.. But those who own HDB better not kpkb.

if MBT is smart....he wud just do so and explain it nicely tat he listens to the people and opposition teams proposals......den nobody can kpkb

[phantom_opera]

Ban PRs from HDB? Then PRs still cannot afford condos, then PRs rent HDBs, rental goes up, Singaporeans become happy landlord ??

[devilplate]

Ban PRs from HDB? Then PRs still cannot afford condos, then PRs rent HDBs, rental goes up, Singaporeans become happy landlord ??

yes.....win-win

nobody will complain about receiving higher rental wat....only complain resale px too high

and if PR finds the rental too high....they can always balek kampong

less PR, less overcrowding of MRT.....all happy

[azeoprop]

Ban PRs from HDB? Then PRs still cannot afford condos, then PRs rent HDBs, rental goes up, Singaporeans become happy landlord ??

Only Singaporeans can be landlord. Welcome all FT in and they work for us, we collect rent shake legs at home haa haa...

[DC33_2008]

Did not know the project has caused so much inconvenience to people in Bishan. Why they did not vote MIW out?

Waterfront proposal means more nonsensical construction for the next 5 years that may not benefit you. Look at Bishan Park now. Used to be a nice park where everyone including dogs can enjoy. Ever since they started building a $1.2 billion artificial river, the place now look horrible and worse still, cause so much flooding in Bishan. Think twice before u embrace every single "upgrading" projects - some are complete waste of money and only increase conservancy charges.

[DC33_2008]

MBT has already relaxed the rule on this to allow HDB dwellers to make some pocket $. Otherwise, the result at Tampines could have been worst.

Only Singaporeans can be landlord. Welcome all FT in and they work for us, we collect rent shake legs at home haa haa...

[devilplate]

MBT has already relaxed the rule on this to allow HDB dwellers to make some pocket $. Otherwise, the result at Tampines could have been worst.

more can be done....

listen to people! ban PR from buying resale flat! convert den buy lor....hahaha

we only want real talents(RT) to come to SG and not FAKE TALENTS(FT)

those Faked talents come over here to fight for 2-4k jobs shd be clamped

only allow 5k++ foreigner to come over....push up pte condo!! HUAT ARGH!

[DC33_2008]

RT with higher rental budget too! Huat Ah!

more can be done....

listen to people! ban PR from buying resale flat! convert den buy lor....hahaha

we only want real talents(RT) to come to SG and not FAKE TALENTS(FT)

those Faked talents come over here to fight for 2-4k jobs shd be clamped

only allow 5k++ foreigner to come over....push up pte condo!! HUAT ARGH!

[irisng]

Quoted by teddybear :
"Above implications means low-level foreigners should be kept out as they compete for jobs directly with the lower and middle-classes Singapore citizens.
High-level foreigners will still be welcomed to come here to live, stay, spend money here, buy properties, set up businesses, create jobs for Singapore citizens, all for the benefits of the economy of Singapore."

Not only they compete for jobs, they also snatch people's husband, so S'pore should only welcome true talent and high-level foreigners. Don't know what is their actual motive, a 23 yrs old girl willing to go with a 46 yrs old married man, thus causing people's family to breakoff, the most pitiful is their children. I think the girl might want to make use of the man to get the PR and then after getting it, kick him out. So stupid!!!!

[teddybear]

This is golden rule in Econ theory & will always be followed (except communist countries). Almost all countries practice it.

Not so fast yet... PAP is still in full control... The principle of gradual asset appreciation is not wrong. The current problem is just misguided policies, which can be adjusted. Just a few more loud voices in parliament are not going to influence policy makers.