idea 4 CM6:Foreigners shld be restricted to properties above S$1 Million/1000 Sq Ft

[PropertyNewbie]

Sibeh tulan always kena told by agents at RCR launches that

1. 1 + S sold out
2. 2 bedders sold out
3. Left those 1200, 1300 sq ft 3 bedder u want? (i want but no money la sibeh tulan)

All because of added demand from foreigners and speculators.

I wanna propose that foreigners can only buy private properties above S$1 million and/or 1000 Sqft and stop buying cheaper/smaller apartments that I want to buy. Afterall, we want to attract high net worth people to our shores, no? This will allow more Singaporeans to be landlords by owning more 1bdrm and 2bdrm apartments which are in demand by tenants, and restrict upward pricing pressures due to demand from foreigners to the segment above S$1 million/1000 Sq Ft.

This way property prices will be more stable for citizens due to less influence from external demand. Families are becoming smaller in SG due to many couples having 1 or 2 kids, so a 1+S or 2 bdrm apartment would be comfortable for many upgraders.

By the way this should apply immediately to both new and resale transactions. Any thoughts on this?

[felicia_sg]

$1m limit too low I think. Foreigners including PRs should be ban from buying property below $1.5m!
Also, this limit must be adjusted up at 2-3% every year to cater for inflation!

Sibeh tulan always kena told by agents at RCR launches that

1. 1 + S sold out
2. 2 bedders sold out
3. Left those 1200, 1300 sq ft 3 bedder u want? (i want but no money la sibeh tulan)

All because of added demand from foreigners and speculators.

I wanna propose that foreigners can only buy private properties above S$1 million and/or 1000 Sqft and stop buying cheaper/smaller apartments that I want to buy. Afterall, we want to attract high net worth people to our shores, no? This will allow more Singaporeans to be landlords by owning more 1bdrm and 2bdrm apartments which are in demand by tenants, and restrict upward pricing pressures due to demand from foreigners to the segment above S$1 million/1000 Sq Ft.

This way property prices will be more stable for citizens due to less influence from external demand. Families are becoming smaller in SG due to many couples having 1 or 2 kids, so a 1+S or 2 bdrm apartment would be comfortable for many upgraders.

By the way this should apply immediately to both new and resale transactions. Any thoughts on this?

[Alan Shearer]

I propose foreigners including PRs should be limited to buying private properties up to a maximum of 1.5 million. In this way citizens can only blame themselves for high prices and will hopefully stop their puerile whinging.

[Rosy]

Foreigners already stop buying.

Local buyers are competing the MM units with you actually.

[roly8]

Foreigners are already very rich..

[maisonjai]

With 40% dp, SSD & ABSD speculators long gone.

[hopeful]

Sibeh tulan always kena told by agents at RCR launches that

1. 1 + S sold out
2. 2 bedders sold out
3. Left those 1200, 1300 sq ft 3 bedder u want? (i want but no money la sibeh tulan)

All because of added demand from foreigners and speculators......

isnt this the main cause of you not being able to buy?
you didnt go for VVVVIP preview? can get watertown cheap price. why you take so long to make up your mind? by the time you make up your mind, all the more affordable units long gone.
why blame others instead of yourself?
work and invest harder and smarter. and stop making Geylang OKT rich.

[Mr.Keh]

The problem is when you need to sell ur 1+s unit in future, you will not be able to sell it to a foreigner too. Can you accept that? After you have bought your condo, you will not suggest this type of rules which only benefits local buyers and sabo owners.

[flagship74]

isnt this the main cause of you not being able to buy?
you didnt go for VVVVIP preview? can get watertown cheap price. why you take so long to make up your mind? by the time you make up your mind, all the more affordable units long gone.
why blame others instead of yourself?
work and invest harder and smarter. and stop making Geylang OKT rich.

That's y this lampar kia tulan mah

[irisng]

Sibeh tulan always kena told by agents at RCR launches that

1. 1 + S sold out
2. 2 bedders sold out
3. Left those 1200, 1300 sq ft 3 bedder u want? (i want but no money la sibeh tulan)

All because of added demand from foreigners and speculators.

I wanna propose that foreigners can only buy private properties above S$1 million and/or 1000 Sqft and stop buying cheaper/smaller apartments that I want to buy. Afterall, we want to attract high net worth people to our shores, no? This will allow more Singaporeans to be landlords by owning more 1bdrm and 2bdrm apartments which are in demand by tenants, and restrict upward pricing pressures due to demand from foreigners to the segment above S$1 million/1000 Sq Ft.

This way property prices will be more stable for citizens due to less influence from external demand. Families are becoming smaller in SG due to many couples having 1 or 2 kids, so a 1+S or 2 bdrm apartment would be comfortable for many upgraders.

By the way this should apply immediately to both new and resale transactions. Any thoughts on this?

Visit the showroom at the area you like, leave your contact number and email address. Have some conversation with the agent and tell him/her that you are looking around for 1 or 2 bedrooms apartments, if possible let him/her know your budget. So even if you don't buy now, the agent will try to sms or email you whenever there are new projects coming up, make an appointment with them, maybe you will be able to get a unit that you want, that's my .

[Allthepies]

Sibeh tulan always kena told by agents at RCR launches that

1. 1 + S sold out
2. 2 bedders sold out
3. Left those 1200, 1300 sq ft 3 bedder u want? (i want but no money la sibeh tulan)

All because of added demand from foreigners and speculators.

I wanna propose that foreigners can only buy private properties above S$1 million and/or 1000 Sqft and stop buying cheaper/smaller apartments that I want to buy. Afterall, we want to attract high net worth people to our shores, no? This will allow more Singaporeans to be landlords by owning more 1bdrm and 2bdrm apartments which are in demand by tenants, and restrict upward pricing pressures due to demand from foreigners to the segment above S$1 million/1000 Sq Ft.

This way property prices will be more stable for citizens due to less influence from external demand. Families are becoming smaller in SG due to many couples having 1 or 2 kids, so a 1+S or 2 bdrm apartment would be comfortable for many upgraders.

By the way this should apply immediately to both new and resale transactions. Any thoughts on this?

yo pls chk ur data properly before u grumble. now the majority of buyers for cute small units r by sing buyers. to really stop demand for this sector, LTV max 40% for mickey unit with below 600sqft, 50% for unit below 700sqft, this will force developers to build proper size units and lower the psf. look at watertown u will know

[stiook]

yo pls chk ur data properly before u grumble. now the majority of buyers for cute small units r by sing buyers. to really stop demand for this sector, LTV max 40% for mickey unit with below 600sqft, 50% for unit below 700sqft, this will force developers to build proper size units and lower the psf. look at watertown u will know

In the end, many will still be priced out... which is not entirely wrong.

[Jadey]

Sibeh tulan always kena told by agents at RCR launches that

1. 1 + S sold out
2. 2 bedders sold out
3. Left those 1200, 1300 sq ft 3 bedder u want? (i want but no money la sibeh tulan)

All because of added demand from foreigners and speculators.

I wanna propose that foreigners can only buy private properties above S$1 million and/or 1000 Sqft and stop buying cheaper/smaller apartments that I want to buy. Afterall, we want to attract high net worth people to our shores, no? This will allow more Singaporeans to be landlords by owning more 1bdrm and 2bdrm apartments which are in demand by tenants, and restrict upward pricing pressures due to demand from foreigners to the segment above S$1 million/1000 Sq Ft.

This way property prices will be more stable for citizens due to less influence from external demand. Families are becoming smaller in SG due to many couples having 1 or 2 kids, so a 1+S or 2 bdrm apartment would be comfortable for many upgraders.

By the way this should apply immediately to both new and resale transactions. Any thoughts on this?

Barking at the wrong tree lah. It's people like you who snaps up those smaller units.

Not all foreigners are rich. Many are just here to make a living not speculate on property.

[DC33_2008]

It is driven by demand. I believe quite a lot of people can afford a $500k PC with 20% downpayment at low interest rate. Not sure when interest rate goes up.

yo pls chk ur data properly before u grumble. now the majority of buyers for cute small units r by sing buyers. to really stop demand for this sector, LTV max 40% for mickey unit with below 600sqft, 50% for unit below 700sqft, this will force developers to build proper size units and lower the psf. look at watertown u will know

[howgozit]

Well said.....

When a person wants to buy, he wants all the restrictions to be there to depress the prices but when he wants to sell he will want them to be lifted....

The problem is when you need to sell ur 1+s unit in future, you will not be able to sell it to a foreigner too. Can you accept that? After you have bought your condo, you will not suggest this type of rules which only benefits local buyers and sabo owners.

[flagship74]

Well said.....

When a person wants to buy, he wants all the restrictions to be there to depress the prices but when he wants to sell he will want them to be lifted....

That's "Ren"

[stiook]

That's "Ren"

So true...like those who dont own car will kpkb about COE, saying shiuld have more... those who own car will kpkb about COE... why so many cars on the road

[teddybear]

Yah loh, pay so much for COE and yet getting jam on the road?
Isn't COE suppose to control the vehicle population to ensure no over-population of vehicles and hence smooth traffic in the first place?

So true...like those who dont own car will kpkb about COE, saying shiuld have more... those who own car will kpkb about COE... why so many cars on the road

[DKSG]

This thread really reflects the ignorance of the person who started it.

Foreigners are already restricted. Those buying now are Singaporeans and reflect the true demand. As demand is more than supply, prices goes up.

Look at caveats lodged for D9, 10, 11 for Dec and Jan, they are already down. So, if there is a price decrease, it will be for D9,10,11. BUt then these are worth 1,500 psf and above. If decrease also got limit.

All the best for your dream for 20% crash!

DKSG
Stay Calm and Cool