Singapore takes new steps to cool housing market

**radha08** · 06-10-12, 00:20

Originally Posted by kane

so who's down at the showroom making last minute purchases for 5th October 2012? lol.

GAME OVER....its 6oct

**kane** · 06-10-12, 00:22

Originally Posted by radha08

GAME OVER....its 6oct

they commit at 23:59:59, OTP generated at 5 October, now they are reading the Terms and Conditions before signing on the dotted line. hypothetical scenario that is.

**radha08** · 06-10-12, 00:30

Originally Posted by kane

they commit at 23:59:59, OTP generated at 5 October, now they are reading the Terms and Conditions before signing on the dotted line. hypothetical scenario that is.

haha....think i will

over it...

**kane** · 06-10-12, 00:35

Originally Posted by radha08

haha....think i will

over it...

and perhaps some are falling asleep reading the Ts and Cs at this hour at the showroom. then after signing go for late night supper.

**phantom_opera** · 06-10-12, 00:40

summary of this thread

as usual CCR/landed low end hardest hit ... can say good bye to SH, PH and TH
as usual shoebox and 1br never die
at OCR developers will launch 2br compact and 3br compact

but animal spirit will return ... Singkapoorean never say die

**Pikachu1245** · 06-10-12, 00:49

Originally Posted by kane

they commit at 23:59:59, OTP generated at 5 October, now they are reading the Terms and Conditions before signing on the dotted line. hypothetical scenario that is.

If there is a will, there is a way
lol

**cnud** · 06-10-12, 00:55

More CM means prices will not crash. Can adjust to provide floor.

But it will be more difficult to make a quick bucks. For own stay still tenable.

**phantom_opera** · 06-10-12, 00:57

Originally Posted by cnud

More CM means prices will not crash. Can adjust to provide floor.

But it will be more difficult to make a quick bucks. For own stay still tenable.

MM can still make quick buck ... but quick as in 4y and less leverage

**zeamybro** · 06-10-12, 00:59

Originally Posted by phantom_opera

summary of this thread

as usual CCR/landed low end hardest hit ... can say good bye to SH, PH and TH
as usual shoebox and 1br never die
at OCR developers will launch 2br compact and 3br compact

but animal spirit will return ... Singkapoorean never say die

Yeps, my 1st thought is that developers will start to launch 2br and 3br compact, since they can't build too many MMs due to the last measure while big units with high quantum won't sell well. With lesser big units means lesser MMs too .... Now, 2br is going to flood the OCR market

**phantom_opera** · 06-10-12, 01:00

new high at HK, 2% above last month ... lower LTV does not change anything there

This Week Previous Week Previous Month
[Centa-City Leading Index]
110.14

+0.30 % +1.99 %

**radha08** · 06-10-12, 01:01

Originally Posted by kane

and perhaps some are falling asleep reading the Ts and Cs at this hour at the showroom. then after signing go for late night supper.

kns turn here turn there cannot sleep thinking of this CM..i am back so any other NEW CM just came out...

**phantom_opera** · 06-10-12, 01:05

STI futures is yawning at MAS new measure

Hong Kong HS42
21089.8
21129.8
+92.8

Singapore Blue Chip
355.00
355.20
+0.45

**zeamybro** · 06-10-12, 01:07

Originally Posted by radha08

kns turn here turn there cannot sleep thinking of this CM..i am back so any other NEW CM just came out...

Radha, this new cm is really targeted at ppl of your age grp (40s) ... Those who already own properties and are loan free or almost loan free ... And is just abt to get comfortable in buying a new one at 80% loan with 30yrs tenure

**phantom_opera** · 06-10-12, 01:09

Originally Posted by zeamybro

Radha, this new cm is really targeted at ppl of your age grp (40s) ... Those who already own properties and are loan free or almost loan free ... And is just abt to get comfortable in buying a new one at 80% loan with 30yrs tenure

yes, forumers forget to mention this CM is targetting HDB market also ... the clever Jedi Master is now forcing you to sell away HDB first b4 u can join the dark side

it makes owning both condo / hdb challenging

so MMs here we come

**kane** · 06-10-12, 01:13

Originally Posted by radha08

kns turn here turn there cannot sleep thinking of this CM..i am back so any other NEW CM just came out...

haha, go downstairs for late night supper.

**phantom_opera** · 06-10-12, 01:14

and the rich gets richer ...

The 1.2 million households whose incomes put them in the top one per cent of the US saw their earnings increase 5.5 per cent last year, according to estimates released last month by the US Census Bureau. Earnings fell 1.7 per cent for the 96 million households in the bottom 80 per cent - those that made less than US$101,583.

**zeamybro** · 06-10-12, 01:14

End of the day the folks who suffer the most are agents ...

Those who initially wanna buy now but can't afford to buy just don't buy and life goes on

Those who initially wanna sell and reinvest in bigger units now wont sell now cos of lowered LTV ..... Life goes on too

**kane** · 06-10-12, 01:16

the supply of resale should shrink further.

**zeamybro** · 06-10-12, 01:18

Originally Posted by kane

the supply of resale should shrink further.

Yes, with low interest rates, owners will keep for renting, esp when the rental market is still doing fine now.

Agents shld stop queuing up at showflats but turn to do rentals instead

**kane** · 06-10-12, 01:20

Originally Posted by zeamybro

Yes, with low interest rates, owners will keep for renting, esp when the rental market is still doing fine now.

Agents shld stop queuing up at showflats but turn to do rentals instead

comms not as chunky perhaps?

**Super** · 06-10-12, 01:23

This is from MAS web site @ http://www.mas.gov.sg/News-and-Publi...roperties.aspx

New rules on loan tenure

9 The new MAS rules impose an absolute limit of 35 years on the tenure of all loans for residential property. This will apply to loans to both individual and non-individual borrowers, as well as refinancing loans, from 6 October 2012.2

This one is clear. Both Individual and non-individual borrowers cannot loan more than 35 years.

10 In addition, MAS will lower the LTV ratio for new residential property loans to borrowers who are individuals, if:

the tenure exceeds 30 years; or
the loan period extends beyond the retirement age of 65 years.
For these loans, the LTV limit will be:

40% for a borrower with one or more outstanding residential property loans; and
60% for a borrower with no outstanding residential property loan.

See if my understanding is correct.....

Individuals taking loan > 30 years can only loan 60% for 1st property and 40% of 2nd property.

Individuals taking loan extends beyond the retirement age of 65 year can only loan 60% for 1st property and 40% of 2nd property.

Individuals taking loan < 30 years can still loan 80% for 1st property and 60% of 2nd property.

Individuals taking loan that DOES NOT extends beyond the retirement age of 65 year can still loan 80% for 1st property and 60% of 2nd property.

11 MAS will also lower the LTV ratio for residential property loans to non-individual borrowers from 50% to 40%.

This one I don't get it. This one seems to apply to non-individual borrower? Does non-individual borrower means >= 2 buyers or names for 1 property? Can someone explain this?

**august** · 06-10-12, 01:33

Originally Posted by Super

This one I don't get it. This one seems to apply to non-individual borrower? Does non-individual borrower means >= 2 buyers or names for 1 property? Can someone explain this?

refers to company.

**Super** · 06-10-12, 01:36

Originally Posted by august

refers to company.

Orh. Thanks.

**Pro888** · 06-10-12, 01:38

Protecting sporean from over leverage. So no $$$, please stay in HDB.

Pte apts/condos are for foreigners with bags of $$$. We need to welcome them.

Correct or cor-wrong?

**radha08** · 06-10-12, 01:38

Originally Posted by zeamybro

Radha, this new cm is really targeted at ppl of your age grp (40s) ... Those who already own properties and are loan free or almost loan free ... And is just abt to get comfortable in buying a new one at 80% loan with 30yrs tenure

yup bro u are right big brother love people of my age group want us to pay off one house and retire peacefully no need to huat another property and become rich and everyday eat curry fish head...they want us just live one house and everyday eat porridge can liao...

**radha08** · 06-10-12, 01:39

Originally Posted by kane

haha, go downstairs for late night supper.

see this cm already sianzz...eat maggi mee can liao...

**radha08** · 06-10-12, 01:41

Originally Posted by Pro888

Protecting sporean from over leverage. So no $$$, please stay in HDB.

Pte apts/condos are for foreigners with bags of $$$. We need to welcome them.

Correct or cor-wrong?

correct and by the way sorry to singapolean for inconvenience for asking u go army do ns....run here run there

**fclim** · 06-10-12, 02:08

Cool market is short term. Real intention is to force people to marry younger (hopefully have children younger) and get their BTO flat early so that can upgrade to condo before 35 yo. Hahaha...

**blackjack21trader** · 06-10-12, 05:59

Originally Posted by PN

You staying in Bungalow why bother looking at landed in East Coast?

because the agents are making the prices of terraces unreachable for me to take over

I wanna build nice affordable terraces for young people leh.

**ysyap** · 06-10-12, 07:03

Originally Posted by radha08

ya bro now all i can do is dim the lights have a beer listen music and stare at the 4 walls of my hdb apt...

Why must dim lights? Most condos also have 4 walls but some with 2 walls and 2 windows!!! Nothing spectacular lah...

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