new cooling measures effective 8dec 2011

[Eastboy]

Lucky I signed my option last week...lol. Else I will back out from my 6th property le.

[Geylang OKT]

Lucky I signed my option last week...lol. Else I will back out from my 6th property le.

You will have a hard time finding buyers for the next few years though

[Eastboy]

You will have a hard time finding buyers for the next few years though

No la never intended to sell

[jwong71]

Lucky I signed my option last week...lol. Else I will back out from my 6th property le.

u probably could buy cheaper

[ppty]

SINGAPORE: The Real Estate Developers Association of Singapore (REDAS) has expressed its disappointment over the lack of consultation, following the government's announcement of the latest property cooling measures.

It said the measures came as a surprise, as the current market outlook is uncertain.

REDAS said the good take-up rate in the primary market is driven by the increased number of new launches and unique selling points of certain projects.

It is not indicative of a return to a speculative market.

REDAS believes given that the local economy is expected to slow down next year, the measures are untimely.

- CNA/de

[devilplate]

Where blackjack?

The hope of foreigners coming in droves r gone overnite! Lol

[Eastboy]

u probably could buy cheaper

That's kinda true buti rather pay a bit more now than to be slapped with ABSD. If market crashes, I believe all these CMs will ceast.

[devilplate]

That's kinda true buti rather pay a bit more now than to be slapped with ABSD. If market crashes, I believe all these CMs will ceast.

Honestly, will u still rush to buy tonite after knowing the CM? Buyers got between 8-12pm....a gd 4 hrs to buy.....lol....

[Eastboy]

Honestly, will u still rush to buy tonite after knowing the CM? Buyers got between 8-12pm....a gd 4 hrs to buy.....lol....

I dunno, can't speak for other investors as everyone has diff appetites and beliefs...I don't think I would rush...would go into overseas property instead I think...

[dmonddd]

From what I am reading here, any dip in price will be short-lived.... too many vultures.

dont forget vultures circle in the air for awhile....wait till victims are lifeless.

you can expect the same....from property vultures

[Eastboy]

dont forget vultures circle in the air for awhile....wait till victims are lifeless.

you can expect the same....from property vultures

I have never believed in bargain hunting, at least that's not my investment philosophy in stocks. I feel (and personally have seen many of my peers) who miss the woods for the trees...a lot of opportunity costs when one depends on timing. That's just me la I am one that detests timing.

[smallant]

no GST increase so increase ABSD ? ha ha ..
Will drive more outflow of $ to overseas as singaporeans seek better returns for their $. ha.. may end up getting con buying what they thought cheap overseas properties.. example .. 6 USA FH properties for 200k only !
Wonder why now ? when the mkt have start to cool ?

[DaytonaSS]

Citizens now got privileges liao. less foreigner buy = more pple rent?

Is PAPs helping Singaporeans become landlords? if property price drop 50%. I am quiet sure someone will lose their remaining 60% ****.

now PR status is very expensive liao lor. Can get 10% discount on property! invest 10m and get 10% discount when u buy a holiday home!

[dmonddd]

I have never believed in bargain hunting, at least that's not my investment philosophy in stocks. I feel (and personally have seen many of my peers) who miss the woods for the trees...a lot of opportunity costs when one depends on timing. That's just me la I am one that detests timing.

Let's see
I'm sure majority buyer will hold back or not?
Why- hold back as no one knows whats and when's the next cooling measure

Maybe not - quickly grab before more measures introduced. This may not hold since more downsides.

A $ 100psf down for 1000 sq ft = $100,000 alot of money.

[jwong71]

Let's see
I'm sure majority buyer will hold back or not?
Why- hold back as no one knows whats and when's the next cooling measure

Maybe not - quickly grab before more measures introduced. This may not hold since more downsides.

A $ 100psf down for 1000 sq ft = $100,000 alot of money.

definately hold back.

SSD + ABSD + ????? what's next..

message loud and clear.. will monitor the situation

dont think pple wanna get stuck in a sticky situation

[Eastboy]

Actually yup I do think the prices will drop...for those waiting, I hope I get your dream property soon! Some say 2012, some say 2013. But it's true there's no need to rush...I don't see any reasons why prices will go up! Lol

[Eastboy]

definately hold back.

SSD + ABSD + ????? what's next..

message loud and clear.. will monitor the situation

dont think pple wanna get stuck in a sticky situation

What's next? DBWPESSD = developer's bay window/pes stamp duty! Developers will be taxed for wasting space. Haha!

[fclim]

Let's see
I'm sure majority buyer will hold back or not?
Why- hold back as no one knows whats and when's the next cooling measure

Maybe not - quickly grab before more measures introduced. This may not hold since more downsides.

A $ 100psf down for 1000 sq ft = $100,000 alot of money.

Those investing in properties who buy now are 'fools' according to one guy. Those who believed that and waited are greater 'fools'? Must be now.

Message is clear. Property is for living in, not for investment or passive income.

[reuters]

Citizens now got privileges liao. less foreigner buy = more pple rent?

Is PAPs helping Singaporeans become landlords? if property price drop 50%. I am quiet sure someone will lose their remaining 60% ****.

now PR status is very expensive liao lor. Can get 10% discount on property! invest 10m and get 10% discount when u buy a holiday home!

You are so right about this! Some of my foreign friends won't be buying already, given the stamp duty at 10%, but because they need to keep living here and work, they can only rent!
- this move is to protect the rental market.... as long as the rental market is healthy, the owners are not likely needing to sell and this will hold the market steady. I hate to say this but our government is very intelligent!!!

[august]

the speed at which REDAS responded makes me LOL.

[akow]

the speed at which REDAS responded makes me LOL.

Foreigners take up about 19% of total buyers, so 19% drop overnight.
Less buyers, seller will hold in sub-sales, rental market will move.
Investors do not like uncertainties in cooling measures, never know when will be the next round of measures again.
If mass condo pricing remains at $1000psf or more at suburbs, then the resale hdb prices will continue to jump more than 4% every quarter. It's chain reaction.
The high-end property is alreadi international properties, mainly bought by foreigners. It's just matter of time for the mass market condo too... if without any further measures.
Hold cash and wait for the European crisis to deepen, 2012 will be year of property bargain for buyers.

[pmet]

I saw a few agents at Bukit Timah Food Center carpark advertising for Nothinghill yesterday morning. The look on their face was and they were super desperate. I think they already knew what was coming today.

[Laguna]

the speed at which REDAS responded makes me LOL.

When did the govt listen to them?

[ysyap]

When did the govt listen to them?

REDAS is super upset coz this latest CM will further dampen the already dampened housing market. The agents all eat wind and grass for next couple of months or years liao! Those in expert agents in HDB sector must be breathing a sigh of relieve. Those expert agents in private sector must be . Developers and investors too... 2 big CMs within a year is pretty interesting!

[phantom_opera]

Actually for a start, developers can give stamp duty rebate and maintain the price.

Developers of course can absorb the 3% for SC/SPR but it is the loss of confidence in garmen / foreign buyers in the market that kills...properties overall as an asset class is now questionable in Singapore

BTW, Dow futures @ 12,236

The only thing left is non-property-linked high dividend stocks .... cheong ah ...

[radha08]

stay tuned to sgx.com at 9am to c how bad property stocks will be batterred...

[hyenergix]

In the next 1-3 months:

1. It will be very quiet for pte property market in general.

2. Sales of properties in CCR and those in RCR/OCR above $2 million will be decimated.

3. MM apartments will be the least affected since 3% of a smaller quantum is manageable.

4. Developers will dangle more VVVIP discounts of 3% above normal VVIP and VIP discounts.

5. Property agents will switch to become taxi drivers. At least a salary of $3k per month is secured.

6. Re-sale HDB prices will still increase gradually, as people find it more expensive to upgrade to condos.

[phantom_opera]

Really brilliant ... HDB upgraders without any PC will be damn happy

And to think about so many projects will TOP in 2012, this CM timing is superb

[fiat500]

You are so right about this! Some of my foreign friends won't be buying already, given the stamp duty at 10%, but because they need to keep living here and work, they can only rent!
- this move is to protect the rental market.... as long as the rental market is healthy, the owners are not likely needing to sell and this will hold the market steady. I hate to say this but our government is very intelligent!!!

Ya,i think they are too intelligent already..
Imposing 10% additional sd on foreigners is very harsh..
This will wipe out buying interest from indons,malaysians,indians n chinese..
Imagine having to fork out another 120k for nothing for a 1.2m property..who will be so smart to invest here anymore?

[hyenergix]

Ya,i think they are too intelligent already..
Imposing 10% additional sd on foreigners is very harsh..
This will wipe out buying interest from indons,malaysians,indians n chinese..
Imagine having to fork out another 120k for nothing for a 1.2m property..who will be so smart to invest here anymore?

Developers will become landlords renting out unsold properties like FEO...