new cooling measures effective 8dec 2011

[Nman]

I am surprised to see some singaporeans welcoming the latest measures.....
The Ministry of National Development (MND) has announced that the GLS Programme for 1H 2012 will comprise 27 reserve list sites and 14 confirmed list sites. Alamak over supply...Siow liao la.
I think property price sure drop yr by yr? am I right?

[mcmlxxvi]

capl shouldn't be so severely punished. their main source of income is China, not here.

they kena punished coz investors blame their bedok res hype to drive govt to unleash the latest cm...

[ysyap]

I am surprised to see some singaporeans welcoming the latest measures.....
The Ministry of National Development (MND) has announced that the GLS Programme for 1H 2012 will comprise 27 reserve list sites and 14 confirmed list sites. Alamak over supply...Siow liao la.
I think property price sure drop yr by yr? am I right?

Just reading the papers, there are so so so many 1st timers who have initially been reluctant to buy houses coz of high prices are all stepping forward to buy liao. So if prices are constantly supported by this group of genuine buyers who die die need a roof over their heads, how much can prices come down and how much oversupply can there be? Bedok R is a classic example man... More than 80% locals (not foreigners) though they may not be 1st timers but they most likely do not fall under the targetted group stipulated by the CM yesterday. Wrong target group lah...

[devilplate]

I am surprised to see some singaporeans welcoming the latest measures.....
The Ministry of National Development (MND) has announced that the GLS Programme for 1H 2012 will comprise 27 reserve list sites and 14 confirmed list sites. Alamak over supply...Siow liao la.
I think property price sure drop yr by yr? am I right?

Yes....drop more den 50% and dun dream of recovering back to current peak px....

Wait longer the better....cheap cheaper cheapest! Ocr condo 4xxpsf.....hdb 2xxpsf.....orchard....also gd game.....8xxpsf ....whahahahaha

[Wild Falcon]

So many doomsday predictions. Won't crash 50% lah.

I'm sure most of the people here can tahan a 20% correction lah. No sweat. If market corrects, the load up more lor. I'm sure the ABSD will be removed when the market stabilises. If u think about it, 25% of CCR buyers are foreigners and 7% of OCR/RCR buyers are foreigners. On Singapore average, 19% of buyers are foreigner. Assuming all 19% of the fluffy demand disppear (which is worst case because some foreigners still die die want to buy one), it means prices at worse only correct by 20+%? No one should be overly worried over 20% ups and downs, unless one is over leveraged.

[land118]

Not nonsense lah... Allow me to explain.

Introducing this CM has absolutely no effect on govt but to generate more revenues. Govt already recognised that the local demand is high enough to meet the supply that's already in the pipeline. So if the supply will eventually to snapped up, whether by locals or foreigners, govt just ask for additional stamp duty lor. Imagine 100 000 units PC sold in next few years at only 3% stamp duty (minus $5 600) or they can enjoy 90000 units of PC at 3% stamp duty plus 10000 units of PC at 6% stamp duty?

Selling land parcals at higher price will also generate revenue for our lovely govt.

In short, both are actually singing to the same tune. Why not? So no nonsense lah... in fact, our govt is very screwd and meticulous leh!

Since this year bonus already announced, All men in white happy...; now with this CM, some will have hit their KPIs before the year has started...; solid planning...double confirmed...bonus also in the bag next year..

[mcmlxxvi]

next on list every hse only 1 car and one bicycle......at least bicycle is like convertible....

my development got specialised dedicated lots (holders) for bicycles ok... fully support gahmen

[radha08]

Den y govt still release record gls for sale?

just because release doesnt mean must sell just test mkt like me i just advertised my 2 car on sgcarmart if got buyer at right price i sell N buy faster car...NO buyer LL just continue drive slowly...

[radha08]

Yes....drop more den 50% and dun dream of recovering back to current peak px....

Wait longer the better....cheap cheaper cheapest! Ocr condo 4xxpsf.....hdb 2xxpsf.....orchard....also gd game.....8xxpsf ....whahahahaha

dont forget our dream d15...landed 500psf...

[land118]

So many doomsday predictions. Won't crash 50% lah.

I'm sure most of the people here can tahan a 20% correction lah. No sweat. If market corrects, the load up more lor. I'm sure the ABSD will be removed when the market stabilises. If u think about it, 25% of CCR buyers are foreigners and 7% of OCR/RCR buyers are foreigners. On Singapore average, 19% of buyers are foreigner. Assuming all 19% of the fluffy demand disppear (which is worst case because some foreigners still die die want to buy one), it means prices at worse only correct by 20+%? No one should be overly worried over 20% ups and downs, unless one is over leveraged.

Good point, I also wonder why they don't say revised Buyer Stamp Duties but say "Additional"; give me a sense like you say, maybe be removed..when KBW deemed fit.

[land118]

dont forget our dream d15...landed 500psf...

Ask you landlord to sell you the house u r renting now. Tell him can sell with tenancy at cheap price..

[ysyap]

Good point, I also wonder why they don't say revised Buyer Stamp Duties but say "Additional"; give me a sense like you say, maybe be removed..when KBW deemed fit.

Agreed... this is just a measure they intro to test market. If it doesn't achieve its desired result, they can always remove it whenever they deem fit...

[DC33_2008]

Wonder how many 1st time buyers or even buyers with a home will really purchase a unit given the uncertainty in Euro, US and of course their job next year? KBW and TM may have anticipated that funds will be coming in and out of Singapore too swiftly that will upset Singapore's property market.

Just reading the papers, there are so so so many 1st timers who have initially been reluctant to buy houses coz of high prices are all stepping forward to buy liao. So if prices are constantly supported by this group of genuine buyers who die die need a roof over their heads, how much can prices come down and how much oversupply can there be? Bedok R is a classic example man... More than 80% locals (not foreigners) though they may not be 1st timers but they most likely do not fall under the targetted group stipulated by the CM yesterday. Wrong target group lah...

[teddybear]

Then how to make money? Remember, almost all policies to be introduced has to satisfy 1 criteria: Got money to make or not?

No car allowed better la...go green mah....build so many mrt lines and ended up poor ridership leh.....forced singkies to go green and take mrt lor.....whahahaha

[SpinCity]

So many doomsday predictions. Won't crash 50% lah.

I'm sure most of the people here can tahan a 20% correction lah. No sweat. If market corrects, the load up more lor. I'm sure the ABSD will be removed when the market stabilises. If u think about it, 25% of CCR buyers are foreigners and 7% of OCR/RCR buyers are foreigners. On Singapore average, 19% of buyers are foreigner. Assuming all 19% of the fluffy demand disppear (which is worst case because some foreigners still die die want to buy one), it means prices at worse only correct by 20+%? No one should be overly worried over 20% ups and downs, unless one is over leveraged.

This is a very wrong assumption, I may say.
20% decrease in demand cannot translate into 20% correction in price

[radha08]

Ask you landlord to sell you the house u r renting now. Tell him can sell with tenancy at cheap price..

my landlord is a TYCOON who owns an investment/development company with a few landed property in his hands...hope he is all right....

[devilplate]

Then how to make money? Remember, almost all policies to be introduced has to satisfy 1 criteria: Got money to make or not?

Better den empty train stations rite?

[SpinCity]

Agreed... this is just a measure they intro to test market. If it doesn't achieve its desired result, they can always remove it whenever they deem fit...

That's the danger of it. A convenient solution can cause more harm than good.

[devilplate]

my landlord is a TYCOON who owns an investment/development company with a few landed property in his hands...hope he is all right....

If so rich y so gancheong and rent to u at only 3.xk? Whahahahahaha

And ya, i noe some coy haf been buying ppty under coy name.....hohohoho

[radha08]

for those looking to buy 4d this weekend...can try 2727....STI present level...

[devilplate]

This is a very wrong assumption, I may say.
20% decrease in demand cannot translate into 20% correction in price

And its cfm more den 20% reduction in demand.....

Firstly, 20% foreigners cfm gone.....

Den, pr and singkie likely to have more den half pulling handbrake......hahaha

Left wif prolly 40% demand......which translates to 60% px correction! Hohoho

[Wild Falcon]

Of course. But gut feel is around 20% thereabouts correction. Remember, the SINGAPOREANS are not affected and foreign buying in certain segments are low. And CCR price correction also cannot be excessive because there is always HDB and mass market to support. And remember yields in HDB and mass market are fairly strong, so 50% correction will make yields too attractive to dismiss. If you apply this logic, then a 50% correction is near impossible, unless the EU zone really collapse.

Of course pple are free to feel it should be closer to 50%.

This is a very wrong assumption, I may say.
20% decrease in demand cannot translate into 20% correction in price

[HP65]

Den y govt still release record gls for sale?

Because Redas say genuine demand mah....so mnd say, ok, since you closer to the ground then me, let me sell you the land to build the houses to sell. If really can sell, then I believe you and done nothing wrong by selling you my land at record prices.

True genuine demand do not care if prices goes up or down. Speculators do. If there is even the slightest hint that by holding for 4-5 years (eg to wait out the ssd while awaiting construction to finish and current economic crisis to blow over) that prices will go up, every speculators will still buy. But once it becomes uncertain, speculators will retreat.

As for me, I have reached/ exceeded the local quota and recently rebalanced my portfolio by shifting from D10 to D15. While I will not be happy if prices fall coz I have 3 ppties in Sg, I'm of the view prices are really beyond the affordability of the young. This I'm very sure coz even when I recently reduce my staff's salary by 5%, they were quite happy with it coz they can still keep their jobs as they need to pay their mortgage for the next 30-35 years!!

[fclim]

Not nonsense lah... Allow me to explain.

Introducing this CM has absolutely no additional effect on govt than to generate more revenues. Govt already recognised that the local demand is high enough to meet the supply that's already in the pipeline. So if the supply will eventually be snapped up, whether by locals or foreigners, govt just ask for additional stamp duty lor. Imagine 100 000 units PC sold in next few years at only 3% stamp duty (minus $5 600) or they can enjoy 90000 units of PC at 3% stamp duty plus 10000 units of PC at 6% stamp duty?

Selling land parcals at higher price will also generate revenue for our lovely govt.

In short, both are actually singing to the same tune. Why not? So no nonsense lah... in fact, our govt is very screwd and meticulous leh!

Wat if future GLS all very low bids. Will gahmen reject? They have set a precedence. If reject, then wat? lesser supply in the market which will defeat the gahmen's aim. Developers should all bid low low for future GLS and see wat happens.

Anyway, this ABSD is just the appetizer. The main course is reserved for Singaporeans..just wait and see more CM coming.. whahaha...

[fiat500]

the citizen cheong to buy cos they thought if they dont buy pr and foreigner will cheong to buy so u cheong i cheong everybody cheong...govt angry give everybody tight slap.......but citizen/pr not so tight cos still need ur vote....

with the exception of BR,nobody cheong to buy anything mah!
BR is popular due to its location n many singaporeans like that area,thats y its selling so well!
y no one cheong to buy riviera38? in fact,only selected projects in good location are doing well.
aiya,come to think of it,they are just after $$$$..they also dont wana miss out a slice of the pie.

[devilplate]

Because Redas say genuine demand mah....so mnd say, ok, since you closer to the ground then me, let me sell you the land to build the houses to sell. If really can sell, then I believe you and done nothing wrong by selling you my land at record prices.

True genuine demand do not care if prices goes up or down. Speculators do. If there is even the slightest hint that by holding for 4-5 years (eg to wait out the ssd while awaiting construction to finish and current economic crisis to blow over) that prices will go up, every speculators will still buy. But once it becomes uncertain, speculators will retreat.

As for me, I have reached/ exceeded the local quota and recently rebalanced my portfolio by shifting from D10 to D15. While I will not be happy if prices fall coz I have 3 ppties in Sg, I'm of the view prices are really beyond the affordability of the young. This I'm very sure coz even when I recently reduce my staff's salary by 5%, they were quite happy with it coz they can still keep their jobs as they need to pay their mortgage for the next 30-35 years!!

I tink u got confused liao.....

We got hdb for 1st timers.....pte ppty is for renting to expats and high income earners

[gn108]

Won't reject low bids - objective is to lower land cost and thus launch prices. Then secondary market also fall inline.

(Paya Lebar site was a commecial site = so they rejected that. Now on Reserve = so got RP to be triggered)

Wat if future GLS all very low bids. Will gahmen reject? They have set a precedence. If reject, then wat? lesser supply in the market which will defeat the gahmen's aim. Developers should all bid low low for future GLS and see wat happens.

Anyway, this ABSD is just the appetizer. The main course is reserved for Singaporeans..just wait and see more CM coming.. whahaha...

[SpinCity]

Of course. But gut feel is around 20% thereabouts correction. Remember, the SINGAPOREANS are not affected and foreign buying in certain segments are low. And CCR price correction also cannot be excessive because there is always HDB and mass market to support. And remember yields in HDB and mass market are fairly strong, so 50% correction will make yields too attractive to dismiss. If you apply this logic, then a 50% correction is near impossible, unless the EU zone really collapse.

Of course pple are free to feel it should be closer to 50%.

Actually, I guess before the correction reaches 30% in general, this ABSD will be removed I reckon, and Singaporeans may happily to buy again.
I have to say this again and again, it is not about the price correction, but foreigners may be cautious when making investment in Singapore. Policy risk overnight increases by a lot!

[Wild Falcon]

Won't lah. Must think BROADER implications.

If drop 60%, then the OCR rental yield will increase to >10%. And when the foreigners are not buying, more will rent right? Rental yield >10%, I will certainly enter the market, because no more downside risk already. In short, once drop 20% - 30%, I'm sure some will start entering the market.

And its cfm more den 20% reduction in demand.....

Firstly, 20% foreigners cfm gone.....

Den, pr and singkie likely to have more den half pulling handbrake......hahaha

Left wif prolly 40% demand......which translates to 60% px correction! Hohoho

[ysyap]

Anyway, this ABSD is just the appetizer. The main course is reserved for Singaporeans..just wait and see more CM coming.. whahaha...

So those Singaporeans who owns 3 or more properties will kana both the appetizer and the main course?