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Thread: Honestly will 7% ABSD STOP you...???

  1. #1
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    Default Honestly will 7% ABSD STOP you...???

    I know somewhere down the road when my bullets are enough i would like to buy another SMALL apt...but the thought of 7% ABSD really puts me OFF...having to pay hard earned $$$$ to the BIG BROTHER....but in todays singapore NO choice...then again $500k plus 1 bedder i guess $35k to $40k ABSD is reasonable i guess....

    Whats are YOUR thoughts...will it REALLY STOP people...
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

  2. #2
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    Quote Originally Posted by radha08
    I know somewhere down the road when my bullets are enough i would like to buy another SMALL apt...but the thought of 7% ABSD really puts me OFF...having to pay hard earned $$$$ to the BIG BROTHER....but in todays singapore NO choice...then again $500k plus 1 bedder i guess $35k to $40k ABSD is reasonable i guess....

    Whats are YOUR thoughts...will it REALLY STOP people...
    500k in Geylang ?

  3. #3
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    Quote Originally Posted by radha08
    I know somewhere down the road when my bullets are enough i would like to buy another SMALL apt...but the thought of 7% ABSD really puts me OFF...having to pay hard earned $$$$ to the BIG BROTHER....but in todays singapore NO choice...then again $500k plus 1 bedder i guess $35k to $40k ABSD is reasonable i guess....

    Whats are YOUR thoughts...will it REALLY STOP people...
    The word ABSD already put me off, irregardless of %

  4. #4
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    Quote Originally Posted by radha08
    I know somewhere down the road when my bullets are enough i would like to buy another SMALL apt...but the thought of 7% ABSD really puts me OFF...having to pay hard earned $$$$ to the BIG BROTHER....but in todays singapore NO choice...then again $500k plus 1 bedder i guess $35k to $40k ABSD is reasonable i guess....

    Whats are YOUR thoughts...will it REALLY STOP people...
    For a plan buying 10 MM, the pain is by 10 times more. How to thank them?

  5. #5
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    For those already bought a lot, do not be too greedy.

    Leave some space for the market to stabalize.

    Long term, those ignoring ABSD may not lose. but for a window of years, who knows.

  6. #6
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    wait for the B prophecy and chiong ?
    or
    get seller to sell 7% less?

  7. #7
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    Just think of it as paying coe. Coe last only 10yrs. House will be your working servant earning rental for 96yrs.

  8. #8
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    even KenoBiWan can't stop the onslaught, as evident by the ever rising prices. buyers aren't scared of ABSD (or they aren't affected)

  9. #9
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    for someone who comes from country with GST 17.5% and income tax at 40%, 7% ABSD sounds like a peanut lol

    even in China, income tax is much higher

    and remember developer gives u 7% extra discount
    Ride at your own risk !!!

  10. #10
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    Quote Originally Posted by radha08
    I know somewhere down the road when my bullets are enough i would like to buy another SMALL apt...but the thought of 7% ABSD really puts me OFF...having to pay hard earned $$$$ to the BIG BROTHER....but in todays singapore NO choice...then again $500k plus 1 bedder i guess $35k to $40k ABSD is reasonable i guess....

    Whats are YOUR thoughts...will it REALLY STOP people...
    you mean take it as COV or something like that? if that happens then after a while ppl will just accept it lor.

  11. #11
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    Frankly, I just hate paying money to the government. So yes, 7% ABSD is quite a turn-off. It's like paying traffic fines - may not be a lot but still a deterrent. And not forgetting those SSDs as well. Having said that, if it's a good deal will still buy lah. Just that, now where got good deals?

  12. #12
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    Those under $1000psf still good deal.

  13. #13
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    ABSD stopped me. now i have more time for other things in life. thank u absd.

  14. #14
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    Quote Originally Posted by bargain hunter
    ABSD stopped me. now i have more time for other things in life. thank u absd.
    Yah, I agree. I thank MND for considering our obsession and decline in productivity. With the tax, no need to think, can move on and save more before thinking.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  15. #15
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    The responses explained why there have been so many decouplings...

  16. #16
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    I think ABSD is starting to bite liao. March overall resale price down 2% , suburb price down 3%.

  17. #17
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    It won't stop me. But the LTV will kill me.

    If citylights studio now 700k, 7% ABSD is what? But it is hard to fork out 400k in cash.





    Quote Originally Posted by radha08
    I know somewhere down the road when my bullets are enough i would like to buy another SMALL apt...but the thought of 7% ABSD really puts me OFF...having to pay hard earned $$$$ to the BIG BROTHER....but in todays singapore NO choice...then again $500k plus 1 bedder i guess $35k to $40k ABSD is reasonable i guess....

    Whats are YOUR thoughts...will it REALLY STOP people...

  18. #18
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    7% is no big deal if under $1M
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
    ― Martin Luther King, Jr.

    OUT WITH THE SHIT TRASH

    https://www.facebook.com/shutdowntrs

  19. #19
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    Quote Originally Posted by imjason
    500k in Geylang ?
    so many la bro new launch ocr 500k plus can get 1 bedder...d nest...parc olympia...etc etc...my thoughts are a car will cost u 100k for 10 years....1 bedder 500k for 99 years...what is better
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

  20. #20
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    i'd rather pay 70k more in cash than 49k to the gahmen though.

    Quote Originally Posted by thomastansb
    It won't stop me. But the LTV will kill me.

    If citylights studio now 700k, 7% ABSD is what? But it is hard to fork out 400k in cash.

  21. #21
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    honestly absd wun stop me, but it will affect the amount tat I am willing to pay.

    Eg b4 absd, my target price for a 1 bedder at a particular location is $600k. With ABSD, I am oni looking at $550k.

    So as long as the price is attractive, I will still buy, regardless it is at cm20 or cm100.

    do note tat the more absd the govt implements, the more discount developer is gonna give. hence net impact to buyer is actually not really tat much.

    at the end of the day, the diff is only a matter of whether the profit is earned by govt or developer.

  22. #22
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    Quote Originally Posted by mermaid
    honestly absd wun stop me, but it will affect the amount tat I am willing to pay.

    Eg b4 absd, my target price for a 1 bedder at a particular location is $600k. With ABSD, I am oni looking at $550k.

    So as long as the price is attractive, I will still buy, regardless it is at cm20 or cm100.

    do note tat the more absd the govt implements, the more discount developer is gonna give. hence net impact to buyer is actually not really tat much.

    at the end of the day, the diff is only a matter of whether the profit is earned by govt or developer.
    ABSD is paid upfront, or am I mistaken?

    If factored in loan can borrow. If pay upfront, must smash piggy bank - no point lah.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  23. #23
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    Quote Originally Posted by avo7007
    I think ABSD is starting to bite liao. March overall resale price down 2% , suburb price down 3%.
    Figures wrong leh... CCR prices down 3%, RCR prices down 2%, Suburb stable.

    Overall resales prices down 2%.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  24. #24
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    Quote Originally Posted by Kelonguni
    ABSD is paid upfront, or am I mistaken?

    If factored in loan can borrow. If pay upfront, must smash piggy bank - no point lah.
    absd is due around 1/2- 1 mth after u sign the OTP.

    wat's the big deal abt smashing piggy bank? I smashed my fixed deposits n lost my interest. anyway interest revenue is too negligible.

    btw, yr piggy bank no interest one hor

  25. #25
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    Quote Originally Posted by thomastansb
    It won't stop me. But the LTV will kill me.

    If citylights studio now 700k, 7% ABSD is what? But it is hard to fork out 400k in cash.
    when ABSD was 3% and LTV was 60%, I was still wanting to buy a yet-to-launch project... Then my plan got altered on 11-jan-2013...
    today mark the 3 month anniversary of cm7

  26. #26
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    Quote Originally Posted by Kelonguni
    ABSD is paid upfront, or am I mistaken?

    If factored in loan can borrow. If pay upfront, must smash piggy bank - no point lah.
    u can't put ABSD into the total loan amount. if it can be done, condo sales would be rocketing into stratospheric levels and KenoBiWan would be unleashing CM 101 by now.

  27. #27
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    Quote Originally Posted by mermaid
    absd is due around 1/2- 1 mth after u sign the OTP.

    wat's the big deal abt smashing piggy bank? I smashed my fixed deposits n lost my interest. anyway interest revenue is too negligible.

    btw, yr piggy bank no interest one hor
    Must also leave a few months's worth of salary for emergency funds mah. Not that rich to keep buying - building ammunition now. But even if saved enough must consider before committing. It's a large amount to tax - I would rather pay for a COE first.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  28. #28
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    Quote Originally Posted by Kelonguni
    Must also leave a few months's worth of salary for emergency funds mah. Not that rich to keep buying - building ammunition now. But even if saved enough must consider before committing. It's a large amount to tax - I would rather pay for a COE first.
    It is prudent to set aside at least 6mths worth of pay to stand by for sudden loss of job to ensure that the loan can be repaid.

    diff ppl hv different interpretation & priorities.
    to me ppty is an asset while car is an expense

  29. #29
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    If no 7% absd sg will be like jkt now, price increase every month. Now the folks on the sideline are buying anything they can. Everybody pretty much fast forward their buying plan.

  30. #30
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    Quote Originally Posted by mermaid
    It is prudent to set aside at least 6mths worth of pay to stand by for sudden loss of job to ensure that the loan can be repaid.

    diff ppl hv different interpretation & priorities.
    to me ppty is an asset while car is an expense
    It depends on how you use it. 水能载舟,也能覆舟. You can use it to more than recoup the expenditure by saving time, earning more and also developing skills. But not everyone is receptive to how it is done.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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