new cooling measures effective 8dec 2011

[HP65]

Perfect storm lai liao

I think so....cm by itself will not crash mkt and usually behind the curve. But it's some other global vents which will trigger the crash. That's why it's naive to think prices will rise in straight line. It's always zig-zag. If an economy is doing fine and managed well, overall still up. But if the people jiak liao bee....think of welfare, think of easy $ like ppty speculations, sure die. Dats why I always always say Singapore must 'produce' something the world wants.....

[radha08]

Lol tan kuku

Wait till ur tenants run away wif all ur tv, sofa etc and balek kampong

bro u seem like an expert in rental have you really heard this kind of thing happening just curious...

[ysyap]

bro u seem like an expert in rental have you really heard this kind of thing happening just curious...

Its been discussed in this forum before... somebody cited his/her own experience even...

[phantom_opera]

5kg Royal umbrella rice at ntuc up to 15.80 now was 8.5 in 2006, soon government must imPose 10% ABSD to foreigners and restrict SCs to only 2 packs of rice, 3rd pack 3% ABSD applies, this is on top of existing 7% GST, no consultation due to it's market sensitive

[PN]

Gahmen has just increased hdb pty tax, I have a feeling not too long down the road, they will do the same for pte

They do this automatically. When the market changes, you will receive the letter from IRAS. Usually is up for those I received.

All my ppty tax up oredi....zzzzzz

Got rebate anot when my ppty px drop? Zzzzzzz

Property tax is computed based on Annual Value & AV is the estimated yearly rental of the property. Propery price drop does not means that your tax will goes down.

So now with ABSD. The question is will the rental goes up because of higher demand for rent? If it does goes up, I can only foresee us paying more property tax.

Rebate? Have we gotten any rebate for private before? I can't recall any.

[kane]

5kg Royal umbrella rice at ntuc up to 15.80 now was 8.5 in 2006, soon government must imPose 10% ABSD to foreigners and restrict SCs to only 2 packs of rice, 3rd pack 3% ABSD applies, this is on top of existing 7% GST, no consultation due to it's market sensitive

Don't get me started on this. On the weekend, the 10kg royal umbrella was $28. Last night it was up to $30! What the?!

[avo7007]

Good news for some:

Dec 9 (Reuters) - Citizens of five countries, including the United States and Switzerland, could avoid paying the additional stamp duty when they purchase a property in Singapore due to tax treaties with the city-state, the Straits Times reported on Friday.
Similar treatment will also be accorded to citizens of Liechtenstein, Norway and Iceland, who will be treated the same as Singapore citizens, the paper quoted the tax department as saying.
Singapore announced new measures on Wednesday to cool its housing market, saying foreigners who buy private homes will have to pay an additional stamp duty equal to 10 percent of the property value.
Many Singaporeans have blamed an influx of foreigners from China and other locations for driving up the costs of living in Singapore.
Foreigners accounted for 18 percent of new home units sold in Singapore in the third quarter this year, exceeding the previous peak of 15 percent in 2007, Citigroup said in a research note.

[kane]

Like that also can? So will they even avoid the 3% that citizens have to pay?

[devilplate]

Unlikely developers will down prices so quickly lah... still have many 1st timers PRs and locals, plus 2nd timer locals waiting to enter the market. It only means they will take slightly longer to complete their sales... if govt measure is targetted at this larger group of buyers, then yes, sure down price with immediate effect...

u can always hope for the best

[avo7007]

Like that also can? So will they even avoid the 3% that citizens have to pay?

No they can't. Citizen from these 5 countries will have the same tax status as a Singaporean....

[devilplate]

I think so....cm by itself will not crash mkt and usually behind the curve. But it's some other global vents which will trigger the crash. That's why it's naive to think prices will rise in straight line. It's always zig-zag. If an economy is doing fine and managed well, overall still up. But if the people jiak liao bee....think of welfare, think of easy $ like ppty speculations, sure die. Dats why I always always say Singapore must 'produce' something the world wants.....

very nice.....EU bubble cause 30% drop......coupled wif CM add another 20% and accelerate the rate of crash

bestest xmas gift for all fellow bros here with itchy finger syndrome

[phantom_opera]

Does not help la, CityDev fell to $9 liao, those who bought CAPL/CityDev earlier and haven't sold, 10% profit evaporated overnight

FTSE real estate:

[devilplate]

bro u seem like an expert in rental have you really heard this kind of thing happening just curious...

got

they even turn ur hse into gambling den

[buttercarp]

Like that also can? So will they even avoid the 3% that citizens have to pay?

It says that they "will be treated the same as Singapore citizens",


so probably 3rd property then have to pay ABSD.

Dec 9 (Reuters) - Citizens of five countries, including the United States and Switzerland, could avoid paying the additional stamp duty when they purchase a property in Singapore due to tax treaties with the city-state, the Straits Times reported on Friday.
Similar treatment will also be accorded to citizens of Liechtenstein, Norway and Iceland, who will be treated the same as Singapore citizens, the paper quoted the tax department as saying.

[yaozong7]

Looks like got to pay more attention to Parliament proceedings from now on. KBW did mention MND was considering new measures on foreign purchases but din elaborate due to "market sensitive" news. Next up will be Vivian curbing transfer of hawker stalls liao, i foresee....

Bro Devilplate, I have some (albeit limited) knowledge of Boleh Land JB properties, having bought 1 for in-laws retirement in May 2011 under Phase 1. Now, the Phase 2 launch is 30% higher than Phase 1! Boleh Land govt linked property companies anyhow price their launch 1, unlike listed co developers... But no gains for me lah since its for in-law self-stay. Damn...

[devilplate]

5kg Royal umbrella rice at ntuc up to 15.80 now was 8.5 in 2006, soon government must imPose 10% ABSD to foreigners and restrict SCs to only 2 packs of rice, 3rd pack 3% ABSD applies, this is on top of existing 7% GST, no consultation due to it's market sensitive

ya la...wat we singkie really want is such policies leh.....

zzzzzzzzzzzzzzzzzzzzzzzz

latest CM r protecting the foreigners from buying our super high ppty and lure more singkies into buying their 2nd ppty

all fellow singkies, all pls dun buy ok

[devilplate]

No they can't. Citizen from these 5 countries will have the same tax status as a Singaporean....

no nid to serve NS and yet same status

zzzzzzzzzzzzzzzzzzzzzz

[rattydrama]

Looks like got to pay more attention to Parliament proceedings from now on. KBW did mention MND was considering new measures on foreign purchases but din elaborate due to "market sensitive" news. Next up will be Vivian curbing transfer of hawker stalls liao, i foresee....

Bro Devilplate, I have some (albeit limited) knowledge of Boleh Land JB properties, having bought 1 for in-laws retirement in May 2011 under Phase 1. Now, the Phase 2 launch is 30% higher than Phase 1! Boleh Land govt linked property companies anyhow price their launch 1, unlike listed co developers... But no gains for me lah since its for in-law self-stay. Damn...

difficult to make profit imho. which areas you referring? How much is your purchase price?

[devilplate]

Bro Devilplate, I have some (albeit limited) knowledge of Boleh Land JB properties, having bought 1 for in-laws retirement in May 2011 under Phase 1. Now, the Phase 2 launch is 30% higher than Phase 1! Boleh Land govt linked property companies anyhow price their launch 1, unlike listed co developers... But no gains for me lah since its for in-law self-stay. Damn...

congrats!!! boleh land is the way to go

very soon JB ppty will be on par wif Sg ppty px.....time will tell

[avo7007]

no nid to serve NS and yet same status

Look on the bright side, your tax status in these 5 countries are also like their own citizen. They pay high tax, you pay high tax.

[kane]

No they can't. Citizen from these 5 countries will have the same tax status as a Singaporean....

These countries citizens aren't very keen to overweight property in their asset allocation.

[phantom_opera]

No use one lah, majority of foreign buyers are Indonesians, Chinese, Taiwanese, Malaysians, you see selling pressure continue in property stocks this morning, will be glad if CityDev can hold at $9, market is always right

Shanghai futures sign of breaking down today, technically very bearish... perfect storm coming

[devilplate]

Shanghai futures sign of breaking down today, technically very bearish... perfect storm coming

great!

tharman gona take the blame for causing a 50% drop in ppty px

whahahahahaha

[rattydrama]

congrats!!! boleh land is the way to go

very soon JB ppty will be on par wif Sg ppty px.....time will tell

cannot be, if price increase, boleh will just build and build. there are plenty of vacant land available.

the price adjustment in JB right now is partly due to more PR in SG buying houses back in JB or Sprean buying as well and the construction cost went up.

[devilplate]

cannot be, if price increase, boleh will just build and build. there are plenty of vacant land available.

the price adjustment in JB right now is partly due to more PR in SG buying houses back in JB or Sprean buying as well and the construction cost went up.

last time policeman wear shorts.....now wear long pants liao

anything is possible

[rattydrama]

great!

tharman gona take the blame for causing a 50% drop in ppty px

whahahahahaha

good rite? time to go in if drop and the next thing you know is gov remove all cms cos of the drop and the price move back again.

[devilplate]

good rite? time to go in if drop and the next thing you know is gov remove all cms cos of the drop and the price move back again.

of coz happy

but i will scale down on my SG exposure oredi.......this CM will leave a perm scar on foreign investors

there is a very high chance tat our current ppty px marks the peak of next century

initially i tot EU bubble burst will cause 30% drop....den we buy in and can expect px to hit higher den today's peak px.....but now not the case

so i expect to drop 50% at least den got some meat to sell at next up cycle which maybe below 20-30% below of current px

[avo7007]

the price adjustment in JB right now is partly due to more PR in SG buying houses back in JB or Sprean buying as well and the construction cost went up.

Don't know leh, JB Iskander seems more and more like Dubai everyday complete with the fan shape island houses. A little overbuilt for my taste...

[sh]

no nid to serve NS and yet same status

zzzzzzzzzzzzzzzzzzzzzz

go over to the 5 countries and buy their property lah!

buy iceburg from iceland

[buttercarp]

Btw, I have never heard of Liechtenstein.

I google search and found this form wikipedia:

The Principality of Liechtenstein (i/ˈlɪktənstaɪn/ lik-tən-styn; German: Fürstentum Liechtenstein, German pronunciation: [ˈfʏʁstn̩tuːm ˈlɪçtn̩ʃtaɪn][8]) is a doubly landlocked alpine country in Central Europe,[9] bordered by Switzerland to the west and south and by Austria to the east. Its area is just over 160 square kilometres (62 sq mi), and it has an estimated population of 35,000. Its capital is Vaduz. The biggest town is Schaan. Liechtenstein has the second highest gross domestic product per person in the world when adjusted by purchasing power parity,[10] and has the world's lowest external debt. Liechtenstein also has the second lowest unemployment rate in the world at 1.5% (Monaco is first).