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Thread: Do you like your property value to goes up while you have no plan to move.....

  1. #1
    I am new here...

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    Default Do you like your property value to goes up while you have no plan to move.....

    Was discussing about property tax while having lunch today with a few colleagues of mine who stay in private condo and most of them own only 1 property and they do not expect to move in near term.

    Apparently, most of them received their property revalued upward by IRA around Feb/Mar, right after garment announced this year budget.

    Conclusion by this group of kakis: With property price at all time high and coupled with high rental market thus resulting in hiking in property tax, it seem like counter-benefit to those own-stay private condo owners now unless they exit private condo and downgrade to HDB.

    What your take on this?
    Daft, Dafter, Dafterest!!!!

  2. #2
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    Quote Originally Posted by westman
    Was discussing about property tax while having lunch today with a few colleagues of mine who stay in private condo and most of them own only 1 property and they do not expect to move in near term.

    Apparently, most of them received their property revalued upward by IRA around Feb/Mar, right after garment announced this year budget.

    Conclusion by this group of kakis: With property price at all time high and coupled with high rental market thus resulting in hiking in property tax, it seem like counter-benefit to those own-stay private condo owners now unless they exit private condo and downgrade to HDB.

    What your take on this?
    IMO, own stay concession rate (which you need to apply for) is still reasonable unless the value of your properties is worth hell lot of money.

  3. #3
    Singapore = $ingapore

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    whatever it is... longterm stay or shortterm stay.....
    your owned property price go up, feel shiok mah....
    everyone remain happy, yes ?

  4. #4
    Junior

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    Quote Originally Posted by westman
    Was discussing about property tax while having lunch today with a few colleagues of mine who stay in private condo and most of them own only 1 property and they do not expect to move in near term.

    Apparently, most of them received their property revalued upward by IRA around Feb/Mar, right after garment announced this year budget.

    Conclusion by this group of kakis: With property price at all time high and coupled with high rental market thus resulting in hiking in property tax, it seem like counter-benefit to those own-stay private condo owners now unless they exit private condo and downgrade to HDB.

    What your take on this?
    yes, our valuation has been raised by more than 10%.

  5. #5
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    Quote Originally Posted by stalingrad
    yes, our valuation has been raised by more than 10%.
    likewise property tax...
    If no plan to move, price up also no use... later kena price correction, everything back to square yet we have already paid up those taxes...

    Unless profit take else value high means nothing.... agree?
    Daft, Dafter, Dafterest!!!!

  6. #6
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    Quote Originally Posted by iwantgizmos
    whatever it is... longterm stay or shortterm stay.....
    your owned property price go up, feel shiok mah....
    everyone remain happy, yes ?
    Feeling shiok and need not to pay more tax, ok.
    Feeling shiok but need to pay more tax, KNN.... where got shiok...
    Daft, Dafter, Dafterest!!!!

  7. #7
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    Quote Originally Posted by Jadey
    IMO, own stay concession rate (which you need to apply for) is still reasonable unless the value of your properties is worth hell lot of money.
    Agree with you that concession rate still reasonable. However, the fundamental issue here is: you are not moving and how do you feel about paying more tax given current market condition and worst, you are not cashing out... It seem like we have LL accept...
    Daft, Dafter, Dafterest!!!!

  8. #8
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    So when calculating rental yield, include property tax, rental income tax, agent fee and maintenance fee to ensure that you are taking note of what you are paying for. No exact figure but an estimate is also a better feel of your rental yield than not including those figures.
    Last edited by ysyap; 28th July 2011 at 03:27 PM.

  9. #9
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    If you need to, the property can be revalued and refinanced with some cash returns

    I know some people who did that so as to monetise the price appreciation and used the cash to finance kids overseas education. Cheaper and easier than to apply for a personal loan or study loan.

  10. #10
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    Quote Originally Posted by ysyap
    So when calculating rental yield, include property tax, rental income tax, agent fee and maintenance fee to ensure that you are taking note of what you are paying for. No exact figure but an estimate is also a better feel of your rental yield than not including those figures.
    Bro, I've no problem to pay more property tax if rental or resales value going north. Problem is: it's for own stay and u are not moving and yet property price n rental market keep going up thus resulting an increase in property tax , how?
    Daft, Dafter, Dafterest!!!!

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