With CM7, what should we do now?

[Leeds]

National Development Minister Khaw Boon Wan added: “A large supply of public and private housing – up to 200,000 units in total – will be completed in the coming years. Coupled with the new measures, we will be better placed to ensure that housing remains affordable to Singaporeans.”

1. For 1st timer buyer who urgently need a roof, should you buy on weakness now or buy in 2014/2015?

2. For buyer intending to buy a second property for investment, should you buy on weaknes now or buy in 2014/2015?

3. For multiple PC owvers, should you buy more on weakness now or buy more in 2014/2015? Alternatively, should you sell some now on strength and buy more later?

4. For SPR who are lucky to be able to hold on to both their PC and HDB flat, should you sell your HDB flat or PC or move into HDB flat and rent out your PC?

5. For foreigner, should you buy on weankess now, buy in 2014/2015 or rent and invest elsewhere?

The intent of CM7 is to discourage one to buy now (which will cause further price pressure).

Whoever you are, the right call can make a difference in your investments.

[solsys]

Markets strengthening, that's why need the latest CM to cool coz if there isn't.........price will appreciate even higher and spell more trouble.

Quite hard to reverse the herd mentality in buying frenzy unless market crashes.

The only way to temper the rise is via cooling measure, which means..... still gonna go UP.

[kane]

i am interested to know what is happening at the showroom this weekend.

[DC33_2008]

Multiple PC owners should wait and see till March 2013.

National Development Minister Khaw Boon Wan added: “A large supply of public and private housing – up to 200,000 units in total – will be completed in the coming years. Coupled with the new measures, we will be better placed to ensure that housing remains affordable to Singaporeans.”

1. For 1st timer buyer who urgently need a roof, should you buy on weakness now or buy in 2014/2015?

2. For buyer intending to buy a second property for investment, should you buy on weaknes now or buy in 2014/2015?

3. For multiple PC owvers, should you buy more on weakness now or buy more in 2014/2015? Alternatively, should you sell some now on strength and buy more later?

4. For SPR who are lucky to be able to hold on to both their PC and HDB flat, should you sell your HDB flat or PC or move into HDB flat and rent out your PC?

5. For foreigner, should you buy on weankess now, buy in 2014/2015 or rent and invest elsewhere?

The intent of CM7 is to discourage one to buy now (which will cause further price pressure).

Whoever you are, the right call can make a difference in your investments.

[phantom_opera]

FEO giving 5pc disc today only lol, backdate trick?

[Rosy]

FEO giving 5pc disc today only lol, backdate trick?

I already received it yesterday. You received it again today?

[taggy]

nothing left to do, Coffeeshop Talk threads will increase exponentially

[Rosy]

2014/2015?

Just keep an eye and enter when prices corrected and absd removed.

Stay put and focus on other area of investment.

Leave the property market to the 1st timers now.

[blueangel71]

If owners bought during last 1-2 years, they would have to pay the seller stamp duty now and I think the appreciation of their property is not as high as those who bought 3-4 years ago, i.e. they are stuck. They may have some capital gain but whether it is able to offset the seller stamp duty, interest, buyer stamp duty when they bought it etc, only the owner knows.

What current cooling measures means to me is, I can't buy and sell unless I fork out more cash which is bad news for me. My family is growing and I need more space for my kids. Why am I being overlooked by garmen just because first timers make more noise in the last GE so their grievances are being heard?

Garmen only think of first timer, how about upgrader like myself? I have to pay extra stamp duty (the moment I sign on the dotted line) for a new development as I have to stay at my current place while waiting for new development being built. I need more space as I am growing my family and isn't it garmen policy to encourage S'pore citizens to have more babies?

Garmen claim that these are temporary measures, please, I don't need temporary measures and stop changing the rules every 6-8 months as it is very disruptive for citizens, PRs, foreigners and investment as well not knowing what's next (uncertainity). It got to show you don't understand where's the problem and having to introduce cooling measures 7 times! INTEREST RATE is the culprit and tackle that don't peg it with US rate...

[Leeds]

Garmen only think of first timer, how about upgrader like myself? I have to pay extra stamp duty (the moment I sign on the dotted line) for a new development as I have to stay at my current place while waiting for new development being built. I need more space as I am growing my family and isn't it garmen policy to encourage S'pore citizens to have more babies?

...

Yes, you will need to pay for the 7% ABSD first and claim back later if you sell your flat within 6 month of TOP for BUC PC or getting your key for your resale PC.

[Atlantis]

Policies are meant to address the majority unfortunately & as a policy maker, it is not feasible to implement policies that are so "wide" that it covers the minority even. Rather, the minorities should be addressed outside the policies as an "outlier".

[Leeds]

2014/2015?

Just keep an eye and enter when prices corrected and absd removed.

Stay put and focus on other area of investment.

Leave the property market to the 1st timers now.

Absolutely!

However, it will still hurt many first time buyers buying now at this price.

[lajia]

CM 7 is a better approach for them to moderate supply & demand. This eventually is good for everyone. Because dont be too happy now tat you buy without the CM because the situation could turn ugly in 2015/2016. They know it is very dangerous for them to keep releasing lands for bidding and keep increasing the supply of HDBs. Oversupply of HDBs and PC is more headache than all these CMs curbing demand as they can be lifted them anytime.

The CM in Dec 2011 almost froze the market for 3 mths. Activities returned in Apr 2012 if I remember correctly. So did the price correct?? Lets see how long ppl forget and return to the market...

[taggy]

Just as many get caught by cm7 by surprise,
Any chance garmen give all a surprise 3 mth later by removing cm7?

[proud owner]

If you are a first time buyer, and if the over cost is lower than before CM7, then just buy

Even if it later corrects 10 - 15 pct in the next 12 months, it still beat inflation over the long haul. In any case you won't sell for the next 4 years unless you are forced to right?


If you are buying a 2nd prop then you need the cash first which you can claim back part of the cost after you sell your first, if you are an upgraded

But if you are buying 2nd to invest, then you really need to have money power, otherwise don't play

So I think the latest CM is not bad , at least to weed out the weaker investors.

If you cant afford to play, don't. This game is not for you. This is the message many have been telling everyone in this forum for a long time.

[blueangel71]

Well, developer don't take 6months to build a new devlopement but 3 years

[Leeds]

CM 7 is a better approach for them to moderate supply & demand. This eventually is good for everyone. Because dont be too happy now tat you buy without the CM because the situation could turn ugly in 2015/2016. They know it is very dangerous for them to keep releasing lands for bidding and keep increasing the supply of HDBs. Oversupply of HDBs and PC is more headache than all these CMs curbing demand as they can be lifted them anytime.

The CM in Dec 2011 almost froze the market for 3 mths. Activities returned in Apr 2012 if I remember correctly. So did the price correct?? Lets see how long ppl forget and return to the market...

DPM Therman was quoted saying that the CM would be lifted once prices slowed (corrected). KBW already stated that the government would hold some inventory even after supply meeting demand to be able to better control prices in future.

Looks like there is some certainty in the future if the government could meet its objectives. The million dollar question is what is consider affordable price?

[Rosy]

Absolutely!

However, it will still hurt many first time buyers buying now at this price.

I hope the more prudent ones will either go for EC or Hdb Bto.

It is a good time to shop for resale hdb flats instead if young couples need a home urgently.

[Rosy]

Just as many get caught by cm7 by surprise,
Any chance garmen give all a surprise 3 mth later by removing cm7?

When prices corrected for 10% or more.

[teddybear]

You already answered your question isn't it?
Affordable price is Toa Payoh / Tiong Bahru 5RM HDB flat is about 1 Million dollars in 2014/2015.

DPM Therman was quoted saying that the CM would be lifted once prices slowed (corrected). KBW already stated that the government would hold some inventory even after supply meeting demand to be able to better control prices in future.

Looks like there is some certainty in the future if the government could meet its objectives. The million dollar question is what is consider affordable price?

[blueangel71]

If you are a first time buyer, and if the over cost is lower than before CM7, then just buy

Even if it later corrects 10 - 15 pct in the next 12 months, it still beat inflation over the long haul. In any case you won't sell for the next 4 years unless you are forced to right?


If you are buying a 2nd prop then you need the cash first which you can claim back part of the cost after you sell your first, if you are an upgraded

But if you are buying 2nd to invest, then you really need to have money power, otherwise don't play

So I think the latest CM is not bad , at least to weed out the weaker investors.

If you cant afford to play, don't. This game is not for you. This is the message many have been telling everyone in this forum for a long time.

I am buying for my growing family not investment. I wanted to buy a new development which I like not those under construction or TOP already. It takes 3 years to build not 6 months. So if I were to sell now, where do I stay? I got to rent? No one knows whether it will drop 10-15 pct, that's anybody guess. The last cooling measure, many say so it will drop and so does the previous cooling measure.

Whether this is a game for the rich, I am not interested. I am only interested in getting a place for my family without paying extra to garmen

[Leeds]

You already answered your question isn't it?
Affordable price is Toa Payoh / Tiong Bahru 5RM HDB flat is about 1 Million dollars in 2014/2015.

Politically, it is quite a challenge.

[taggy]

I am buying for my growing family not investment. I wanted to buy a new development which I like not those under construction or TOP already. It takes 3 years to build not 6 months. So if I were to sell now, where do I stay? I got to rent? No one knows whether it will drop 10-15 pct, that's anybody guess. The last cooling measure, many say so it will drop and so does the previous cooling measure.

Whether this is a game for the rich, I am not interested. I am only interested in getting a place for my family without paying extra to garmen

hi angel...
If the second property is an uncompleted unit, the ABSD refund will be given if the first property is disposed within six months of the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC) date of the second property, whichever is earlier.

[Rosy]

I still do not understand what is the main motivation to buy new launches for own stay? Paying high prices for new launches and yet have to wait 3years to complete?

Hdb bto is cheaper than resale flats that still make it worthwhile to wait. Same applies to new EC.

[phantom_opera]

Kenobi wan happy with eC 770psf, figure it out yourself what OCR condo price should be

[Leeds]

Kenobi wan happy with eC 770psf, figure it out yourself what OCR condo price should be

We should try to read between the lines with politicians. He also cannot said that he is not happy right?

[Rosy]

We should try to read between the lines with politicians. He also cannot said that he is not happy right?

Fundamentally, we should take cues from bto prices for public housing.

[lajia]

770psf too general le...near MRT or not?
So it's 770 + 200 (for PC) + 200 (those near MRT) + 150 (for matured estate) = 1320 psf

Kenobi wan happy with eC 770psf, figure it out yourself what OCR condo price should be

[Lovelle]

Go JB liao

[minority]

If owners bought during last 1-2 years, they would have to pay the seller stamp duty now and I think the appreciation of their property is not as high as those who bought 3-4 years ago, i.e. they are stuck. They may have some capital gain but whether it is able to offset the seller stamp duty, interest, buyer stamp duty when they bought it etc, only the owner knows.

What current cooling measures means to me is, I can't buy and sell unless I fork out more cash which is bad news for me. My family is growing and I need more space for my kids. Why am I being overlooked by garmen just because first timers make more noise in the last GE so their grievances are being heard?

Garmen only think of first timer, how about upgrader like myself? I have to pay extra stamp duty (the moment I sign on the dotted line) for a new development as I have to stay at my current place while waiting for new development being built. I need more space as I am growing my family and isn't it garmen policy to encourage S'pore citizens to have more babies?

Garmen claim that these are temporary measures, please, I don't need temporary measures and stop changing the rules every 6-8 months as it is very disruptive for citizens, PRs, foreigners and investment as well not knowing what's next (uncertainity). It got to show you don't understand where's the problem and having to introduce cooling measures 7 times! INTEREST RATE is the culprit and tackle that don't peg it with US rate...

quit complaining lah. just sell ur current place lor. and buy a new 1 u are treated as 1st timer wat.

mean time move in with ur in laws or something.

pepople these days keep complaining..

what abt those who need to retire? they need a 3rd house to invest to retire. why why garmen also over look them .. why why why??