how bad you guys kena hit/squeezed by this new CM ??...

[ikan bilis]

ummm... for me...

- Refinance: cannot refinance my loan liow, it stretched over 65yr old. I will have to stay put with it and is pegged to sor, cannot change to sibor liow...
- Repricing: will have problem to ask bank for any repricing as no negotiation power now...
- Getting another condo unit: Not affected as it will be changing my HDB to a 2nd condo. Hence should have enough for 60% down payment and loan stretching to 75yr old. Anyway, no plan to get a 2nd condo and prefer keeping hdb...
- My condo value: Don't think it will drop much as more sellers will pull condos off from market and keep it for rental income. It is happening in HK now...
- Future plan: Likely will be moving away from residential/condos as that type of investment is having negative cash flow (unless i've too much free $$ which is not likely)... Still not starting eyeing at MM either... Me discouraged, MAS/MND asking everyone don;t play play with residential properties... got their message liow...
- Others: i'm holding some industrial/commercial properties and i believe it will cheong higher again...



=> still not kena too much squeezed.... heng ah!...

[radha08]

for me got to continue go bedok swimming pool to swim cannot buy condo with pool....

[Pikachu1245]

ummm... for me...

- Refinance: cannot refinance my loan liow, it stretched over 65yr old. I will have to stay put with it and is pegged to sor, cannot change to sibor liow...
- Repricing: will have problem to ask bank for any repricing as no negotiation power now...
- Getting another condo unit: Not affected as it will be changing my HDB to a 2nd condo. Hence should have enough for 60% down payment and loan stretching to 75yr old. Anyway, no plan to get a 2nd condo and prefer keeping hdb...
- My condo value: Don't think it will drop much as more sellers will pull condos off from market and keep it for rental income. It is happening in HK now...
- Future plan: Likely will be moving away from residential/condos as that type of investment is having negative cash flow (unless i've too much free $$ which is not likely)... Still not starting eyeing at MM either... Me discouraged, MAS/MND asking everyone don;t play play with residential properties... got their message liow...
- Others: i'm holding some industrial/commercial properties and i believe it will cheong higher again...



=> still not kena too much squeezed.... heng ah!...

Economy slowing and SME/International Company seem to lament cost of doing business in Singapore too high in Singapore when compared to nearbouring ASEAN countries. You sure have guts to go into them.

Even govt land sales for idustrial has been reduced from 99yrs to 60yrs....
Further upside? Will the 'Dark' side come along with potential CM(goodness know what are they until it is announce suddenly like the latest on loan quantum control though read/heard those in banking sector(being privileged) seems not affected).


May the 'positive force' be with you. But be careful of the 'Dark side' as they may come anytime with their 'CM'. Be warned. lol

[Kelonguni]

When you see Straits Times forum deliberately release forum articles complaining about price rises, it signifies the time is ripe for response. The figures released about the gains in pte prices a few days ago also timely.

It's not necessarily a bad thing. even refinancing is covered. It is probably something we all agree is rational, but needs courage to implement.

As MIW says, its time to take medicine. Trust in the greater good.

[auroraborealis]

good idea to reflect this way:

- Refinance: Got at least 1 property can refinance. Bot younger, less aggressive then... so chose 30yr. Such properties are also very much in-the-money in current day.

- Repricing: Will always go for it. No issues with anything I think but will triple confirm with the bank next week. Take the 1st property above as example, when we bot it on very conservative term (30 yr LTV 70%)... the bank repriced for us up my LTV to 80% & kept remaining tenor (i.e. < 30yr) cos it was our 1st property

- Getting another condo unit: Stay low for now. Going by current CM, need to sell 2 to buy 1... not a good idea; better keep to help next generation who can only afford to buy 1 HDB at age 30-35. Imagine ppl who buy 1st HDB at 30... how can they buy private in current times (assume die die don't sell HDB). I think it's impossible cos by the time they fully pay HDB already 40 yrs old!!!

- Future plan: Never sell, just rent out SG residential properties. May look to overseas for opportunities.

- Others: Which countries got political stability, good financial & legal infrastructure and property mkt still at early growth stage... pls tell


Conclusion: also heng ah... acted early; else sian le

ummm... for me...

- Refinance: cannot refinance my loan liow, it stretched over 65yr old. I will have to stay put with it and is pegged to sor, cannot change to sibor liow...
- Repricing: will have problem to ask bank for any repricing as no negotiation power now...
- Getting another condo unit: Not affected as it will be changing my HDB to a 2nd condo. Hence should have enough for 60% down payment and loan stretching to 75yr old. Anyway, no plan to get a 2nd condo and prefer keeping hdb...
- My condo value: Don't think it will drop much as more sellers will pull condos off from market and keep it for rental income. It is happening in HK now...
- Future plan: Likely will be moving away from residential/condos as that type of investment is having negative cash flow (unless i've too much free $$ which is not likely)... Still not starting eyeing at MM either... Me discouraged, MAS/MND asking everyone don;t play play with residential properties... got their message liow...
- Others: i'm holding some industrial/commercial properties and i believe it will cheong higher again...



=> still not kena too much squeezed.... heng ah!...

[ikan bilis]

for me got to continue go bedok swimming pool to swim cannot buy condo with pool....

bro... your speed boat with cheap ticket gone already... not coming back liow...

monthly cash needed from your pocket will be 2K-3K (or 1.5-2K more than previously)... either you sell or do not sell your hdb...

think only way is to stay in hdb and rent out condo if you refuse to come out more $$ monthly.... but that will be very ....

now boats left with only a small sampan and need to roll yourself...

[Allthepies]

Cannot use parent's name to buy. Ha ha government always one step ahead.

[samuelk]

bro... your speed boat with cheap ticket gone already... not coming back liow...

monthly cash needed from your pocket will be 2K-3K (or 1.5-2K more than previously)... either you sell or do not sell your hdb...

think only way is to stay in hdb and rent out condo if you refuse to come out more $$ monthly.... but that will be very ....

now boats left with only a small sampan and need to roll yourself...

Sad indeed. So the 50% down by 2015 is starting to come alive

[rattydrama]

My last ppty was bou in aug 2011. Not going to buy anymore. Most ex is only 1200psf....Few weeks ago still looking at HDB shops but too little time to act and market change.

Bou some industrial land in Johore and will continue to buy. Better cap appreciation.

loans are on sibor + .7 to .8 perpetual. The rest cannot recall but also..

Ok bah ....

[Ringo33]

ummm... for me...

- Refinance: cannot refinance my loan liow, it stretched over 65yr old. I will have to stay put with it and is pegged to sor, cannot change to sibor liow...

Bro, I think for refinancing age is not a factor, only the tenure cannot exceed 35 years from the first disbursement of loan (which is when you first bought it)

[repanse71]

Hi

Yup, hold on for rental income.
More and more FTs are coming...
Gahmen changing tack now.... No EP, get S pass lah...

Regards

ummm... for me...

- My condo value: Don't think it will drop much as more sellers will pull condos off from market and keep it for rental income. It is happening in HK now...


=> still not kena too much squeezed.... heng ah!...

[radha08]

bro... your speed boat with cheap ticket gone already... not coming back liow...

monthly cash needed from your pocket will be 2K-3K (or 1.5-2K more than previously)... either you sell or do not sell your hdb...

think only way is to stay in hdb and rent out condo if you refuse to come out more $$ monthly.... but that will be very ....

now boats left with only a small sampan and need to roll yourself...

yup bro i realised that,what to do already miss so many boats now no more feeling...for moment i have diverted my funds to share mkt...let the dust settle in the property mkt then i c how...end of day i tell myself as long i can provide my family a roof over our head...still can survive.......i am thankful to be part of condo.singapore forum it has been a good learning ground with all the good bro/sis here...

[PN]

yup bro i realised that,what to do already miss so many boats now no more feeling...for moment i have diverted my funds to share mkt...let the dust settle in the property mkt then i c how...end of day i tell myself as long i can provide my family a roof over our head...still can survive.......i am thankful to be part of condo.singapore forum it has been a good learning ground with all the good bro/sis here...

Sounds like you going to retire from this forum soon

[new2mondrian]

Actually I view this CM quite positively. For the past few years, I realized banks are having a huge risk appetite when it comes to housing loans. I applied for loans not more than 30 years' tenure (being tied to my age at the point of application till I retire at 62), and it was scary how the banks took it upon themselves to up the loan tenure to 40 years upon approval. When I raised it to my RMs, the answer is always the same. Interest is a tax deductible component, why pay down so quickly? After all pay less each month improves my cash flow for the next property purchase. I was like - what?!!! How could my loan commitment extend beyond my retirement age? I am not even sure if I'd be employable right up to 62!!!

As if this is not bad enough, my RMs start calling me up to keep bugging me to take up equity loans on my properties based on their latest valuation. Really scary. Actually banks are huge culprits in heating the property market.

Anyway I am happy with my current properties. Maybe if the pricing is right, I'd get one after I paid off 50% of the existing ones.

[radha08]

Sounds like you going to retire from this forum soon

NevER....

[ikan bilis]

if you look at all the CMs...

CM #1, Sep 2009
- Remove Interest Only Housing loan

CM #2, Feb 2010
- No more LTV of 90%, Max 80% (except HDB)

CM #3, Aug 2010
- SSD of 1-3%
- LTV Max 70% for 2nd Loan

CM #4, Jan 2011
- SSD of 4-16%
- LTV Max 60% for 2nd Loan

CM #5, Dec 2011
- ABSD 3/10%

CM #6, Oct 2012
- Max loan tenure 35yrs
- First 1st Loan, LTV Max 60% if Loan tenure >30yrs or extend beyond 65yr old
- First 2nd Loan, LTV Max 40% if Loan tenure >30yrs or extend beyond 65yr old


=> All CMs' main objectives whacking private residential properties only, though private residential forms only about 25% of total housing
=> Only CM #6 might affects public housing a bit, but HDB all the time had been limiting their loans to <65yr old and max tenure 30yrs
=> All commercial not affected (loans can still be up to 75yr old, LTV max ~70-80% etc, tenure 40yr and etc). Only some slight cooling on industrial GLS reduce to LH30 and unit size min 150sqm.


So, private residential properties owners must form some association/union liow … if not always kena makan-ed by developers or govt’s policies…
WE MUST FIGHT BACK !!....

[carbuncle]

good summary , I copy n email to myself

thx

[Pikachu1245]

if you look at all the CMs...

CM #1, Sep 2009
- Remove Interest Only Housing loan

CM #2, Feb 2010
- No more LTV of 90%, Max 80% (except HDB)

CM #3, Aug 2010
- SSD of 1-3%
- LTV Max 70% for 2nd Loan

CM #4, Jan 2011
- SSD of 4-16%
- LTV Max 60% for 2nd Loan

CM #5, Dec 2011
- ABSD 3/10%

CM #6, Oct 2012
- Max loan tenure 35yrs
- First 1st Loan, LTV Max 60% if Loan tenure >30yrs or extend beyond 65yr old
- First 2nd Loan, LTV Max 40% if Loan tenure >30yrs or extend beyond 65yr old


=> All CMs' main objectives whacking private residential properties only, though private residential forms only about 25% of total housing
=> Only CM #6 might affects public housing a bit, but HDB all the time had been limiting their loans to <65yr old and max tenure 30yrs
=> All commercial not affected (loans can still be up to 75yr old, LTV max ~70-80% etc, tenure 40yr and etc). Only some slight cooling on industrial GLS reduce to LH30 and unit size min 150sqm.


So, private residential properties owners must form some association/union liow … if not always kena makan-ed by developers or govt’s policies…
WE MUST FIGHT BACK !!....

Interesting. From your info, seems like, min 1 CM to max 2 CM per year , since 2009.

So, for this year , it seems like, the most 1 more CM if required?

[kane]

Interesting. From your info, seems like, min 1 CM to max 2 CM per year , since 2009.

So, for this year , it seems like, the most 1 more CM if required?

this year only 2.5 months left. another CM will make them look very desperate.

[blackjack21trader]

u guys tok like end of the world. wahpiang eh..let my third eye tells you who the real targets in this CM are..of cos is my own personal opinion only:

they are those in age group 55 to 65 years old trying to borrow huge from the banks to buy many properties la. this group are too highly leveraged for comfort liao.

[blackjack21trader]

u guys tok like end of the world. wahpiang eh..let my third eye tells you who the real targets in this CM are..of cos is my own personal opinion only:

they are those in age group 55 to 65 years old trying to borrow huge from the banks to buy many properties la. this group are too highly leveraged for comfort liao.

now you know who are the hiong ones: your aunties and uncles ( your parents brothers and sisters around 60 years old england educated ones la.)

[Laguna]

u guys tok like end of the world. wahpiang eh..let my third eye tells you who the real targets in this CM are..of cos is my own personal opinion only:

they are those in age group 55 to 65 years old trying to borrow huge from the banks to buy many properties la. this group are too highly leveraged for comfort liao.

so, ur below 55.....
why u said that?

[blackjack21trader]

so, ur below 55.....
why u said that?

becos this group BUY properties TOO HIONG ( means too fierce ) liao la. some can buy 5 properties all 90% loans hor.

if i can know, MIW will know better hor.

[blackjack21trader]

becos this group BUY properties TOO HIONG ( means too fierce ) liao la. some can buy 5 properties all 90% loans hor.

if i can know, MIW will know better hor.

many of them stay in Bukit Timah one hor.

[blackjack21trader]

u know who u are, some lurking in this forum.now u believe i got third and fourth eyes liao bo?

[cartman]

ummm... for me...

=> still not kena too much squeezed.... heng ah!...

from your post, you don't seem like an ikan bilis, more like whale shark

[blackjack21trader]

tomm or Monday read Newspaper la, maybe some smart reporter will do a proper writeup on this.

[Laguna]

becos this group BUY properties TOO HIONG ( means too fierce ) liao la. some can buy 5 properties all 90% loans hor.

if i can know, MIW will know better hor.

if the LTV was 90%, that means there should be before 2006....
up >100%, why wori for them

[leesg123]

Thanks to the recent reportings at new launches, the uncles and aunties so hiong, buying for children...and say cheap.

[blackjack21trader]

if the LTV was 90%, that means there should be before 2006....
up >100%, why wori for them

see what bro leesg said above la.. i dun wan to elaborate further. if u say is before 2006, then before lor...maybe you should read some chinese papers la. more info sometimes.