DEVELOPER CANNOT ABSORB EXTRA 10% STAMP DUTY

[DC33_2008]

Property developers

countering govt policy

From

Edwin Lim

The extra stamp duty of 10 per cent

was introduced in December to curb

excessive foreign investment in private

residential property. This cooling

measure has failed. New private home

sales last month were the strongest in

nearly three years.

One possible reason is the increasingly

common practice by property

developers to absorb the extra stamp

duty as part of their marketing strategy,

visibly offered as a carrot to potential

buyers in their advertisements

of property launches.

If a government policy could be

circumvented this easily, then it has

lost its effectiveness. The Government

should make it illegal for property developers

to absorb any stamp duty.

[Laguna]

这就是所谓的
上有政策
下有对策

道高一尺
魔高一丈

[roly8]

lol...you cannot turn back already..

govt. sibei clever to create this kind of scenario.

[DC33_2008]

If developer cannot sell their new launches, where to find money to buy more land from the garment. Garment is the winner!

[Allthepies]

when majority of buyers now r sin and spr, of course no effects la..

[roly8]

when majority of buyers now r sin and spr, of course no effects la..

wait for spain to get burst..

we might see more spainish ladies on our island

[DC33_2008]

It may apply to those multiple property owners too.

when majority of buyers now r sin and spr, of course no effects la..

[Allthepies]

It may apply to those multiple property owners too.

the author is putting the blames on the excessive foreign buying

[DC33_2008]

Knew that.

the author is putting the blames on the excessive foreign buying

[TheOnlyGayInTheVillage]

wait for spain to get burst..

we might see more spainish ladies on our island

Probably u see Spanish flies here first. We alreadynhave a Spanish Village.

[TheOnlyGayInTheVillage]

Technically you cant stop them giving whatever form of rebates to buyers as long as buyers willing to fork out first for the legal paperwork to go thru.

People dont get sued for giving extra fishball or belacan with your noodles.Or rather, giving you 20cent discount for being loyal customer.

[DC33_2008]

You are not wrong. The problem with developer is they will mark up and give you the 5%+3+2...discount. They still win.

Technically you cant stop them giving whatever form of rebates to buyers as long as buyers willing to fork out first for the legal paperwork to go thru.

People dont get sued for giving extra fishball or belacan with your noodles.Or rather, giving you 20cent discount for being loyal customer.

[TheOnlyGayInTheVillage]

You are not wrong. The problem with developer is they will mark up and give you the 5%+3+2...discount. They still win.

Correct. No matter what measures the govt n dev always win.

[TheOnlyGayInTheVillage]

这就是所谓的
上有政策
下有对策

道高一尺
魔高一丈

I think they need to add a LIKE thumbs up icon to the forum...

[radha08]

if trend continues more and more unhappy sporeans will shift to HOUGANG...

[bakasa2002]

if trend continues more and more unhappy sporeans will shift to HOUGANG...

Or Aljunied.

[TheOnlyGayInTheVillage]

Or Aljunied.

This said GRC has a lot of D19 MM new launches. Mai tu liao

[roly8]

if trend continues more and more unhappy sporeans will shift to HOUGANG...

just stay on and make your current GRC under opposition team in the next election lor..

so easy..

[DKSG]

I think you all are mistaken.

For every KPKB person shouting, there are 100 more happily watching their property prices escalating. Though these people also join in the complain, but they certainly fear that government really listen and crash the property market.

Just ask yourself la! For the property u are calling home now, if price goes up 10%, even if u cannot sell, wont u be happier ?

Remember : There are MORE property owners in Singapore THAN property wannabeowners.

DKSG

[Allthepies]

I think you all are mistaken.

For every KPKB person shouting, there are 100 more happily watching their property prices escalating. Though these people also join in the complain, but they certainly fear that government really listen and crash the property market.

Just ask yourself la! For the property u are calling home now, if price goes up 10%, even if u cannot sell, wont u be happier ?

Remember : There are MORE property owners in Singapore THAN property wannabeowners.

DKSG

thumbs up these property wanabeowners will become property owners in future .they also wont want their own properties to crash.

[ysyap]

It may apply to those multiple property owners too.

Singaporeans 3% ABSD is not as frightening as 10% so some locals might still be willing to pay for it.

[amazon777]

At 10% ABSD, foreigners can just parked their $ in mass market project. Not necessary to be in $$$ district 9,10,11

[DKSG]

I never understand this thread!

If they dont absorb stamp duty, then they give furniture vouchers, NTUC vouichers, Cold Storage vouchers, etc.

Why so entrenched just because they call it "absorb" stamp duty ?

They can also "abosrb" your current credit card bills up to the amount of stamp duty also can! Like that you happier ?

DKSG