The real effects of the CMs...MY view

[radha08]

I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....

What are your thoughts....

It is SO difficult to play property now...unless you have deep pockets

no more easy access to $$$

DAMM sianz

[hopeful]

how does the rich get richer from the CMs?

[catsick]

The CM's are put in place by the government to protect the middle class from losing their shirts paying waaay to much for properties. The ultimate cooling measure is the massive supply of properties that will TOP from now to 2017 , when this glut hits and prices go down the government will remove the CM's and keep things from getting too ugly , I think the CM's are the right thing to do and the time to buy is when they are rolled back as this is when the governemnt are signaling prices are at levels they are happy with

[proud owner]

I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....

What are your thoughts....

It is SO difficult to play property now...unless you have deep pockets

no more easy access to $$$

DAMM sianz

this is the WORD govt don't want to see ....

[thomastansb]

Don't get you.

A middle class person as first timer can buy a property without SSD.

A rich person who owns multiple condos need to pay 7 or 10% SSD.

I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....

What are your thoughts....

It is SO difficult to play property now...unless you have deep pockets

no more easy access to $$$

DAMM sianz

[ichigo55]

the game, always been, is about access to $$
No $ no talk.

[radha08]

Don't get you.

A middle class person as first timer can buy a property without SSD.

A rich person who owns multiple condos need to pay 7 or 10% SSD.

once middle class by 1 property he is in NO position to multiply his portfolio and buy more unlike the rich who can easily absorb the ABSD...

[radha08]

this is the WORD govt don't want to see ....

yes u are right

[radha08]

The CM's are put in place by the government to protect the middle class from losing their shirts paying waaay to much for properties. The ultimate cooling measure is the massive supply of properties that will TOP from now to 2017 , when this glut hits and prices go down the government will remove the CM's and keep things from getting too ugly , I think the CM's are the right thing to do and the time to buy is when they are rolled back as this is when the governemnt are signaling prices are at levels they are happy with

good point....

[radha08]

how does the rich get richer from the CMs?

basically no more competition from poor and middle class...cos of the cms...what is 70k absd for a 1 million property for someone who is rich....he can continue to build his portfolio while middle and poor class struggle with 1 or 2 properties

[hopeful]

basically no more competition from poor and middle class...cos of the cms...what is 70k absd for a 1 million property for someone who is rich....he can continue to build his portfolio while middle and poor class struggle with 1 or 2 properties

So the rich sell to who?
Or the rich just accumulate properties and rent them out?

[Ringo33]

The effect of cooling measure will force people to focus on their business and career instead of dreaming to get rich from flipping property.

[walkthetiger]

I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....

What are your thoughts....

It is SO difficult to play property now...unless you have deep pockets

no more easy access to $$$

DAMM sianz

Property possesses full potential if everyone dream to grab multiple properties, while the middle class dream of a retirement living with little bit of rental. With these,the rich can continue to speculate. Everybody wins, but bubble grew, and govt worry.

Now gov stops them, property price appears going over hill. Only left rich sells to another rich, future will be limited. Foreign investor seems cool off as well.

Haha …Li Ka-shing sells, therefore I have decided to cash out.

[walkthetiger]

The effect of cooling measure will force people to focus on their business and career instead of dreaming to get rich from flipping property.

This is correct.
Imagine, every middle class dreams to retire earlier with rental income...that will only lead gov outsources FT to replace them eventually in this nation aka factory produces work. All ended up in a vicious negative circulation again... fall comes earlier this way.

[radha08]

So the rich sell to who?
Or the rich just accumulate properties and rent them out?

bro the richest people in the world have all made their money thru property.....RENTAL.....even if cannot rent do u honestly think a 1 million property bought today will still be worth 1 million in 2030

bottomline.....property $$$ property$$$ property $$$$

[walkthetiger]

bro the richest people in the world have all made their money thru property.....RENTAL.....even if cannot rent do u honestly think a 1 million property bought today will still be worth 1 million in 2030

bottomline.....property $$$ property$$$ property $$$$

In Singapore, it may appear a little different... govt here has full control over everything, good or bad debatable, depends you come from which angle.

[radha08]

In Singapore, it may appear a little different... govt here has full control over everything, good or bad debatable, depends you come from which angle.

very true but if u are in the right political camp shld not be a problem

[minority]

once middle class by 1 property he is in NO position to multiply his portfolio and buy more unlike the rich who can easily absorb the ABSD...

Maybe can tell us where in three world rich have to issues generating more wealth regardless or good market or poor market?

When market crashed the middle class kana burn to death then will it be government fault again? Then perhaps then those get burn will ask when government never warn them..

Wat irony.

[minority]

basically no more competition from poor and middle class...cos of the cms...what is 70k absd for a 1 million property for someone who is rich....he can continue to build his portfolio while middle and poor class struggle with 1 or 2 properties

Lol . Market good rich mike. Market bad rich still can make. But wat abt those rich that over leverage n die one leh?

When lehmen happen May rich also die wat. Don't. Mean they can buy.

But this cm now open the door for those who mtb to enter the market. Which is fair.just don't be greedy. How can u expect garmen make each person super rich? Coz when all are rich the will feel same same no feeling they are rich.


Which is the problem now. Just take a typical Singaporean with the typical counter part in Asia.

[wt_know]

property is the MOST UNPRODUCTIVE investment

same unit
same location
same size

there is nothing productive come out from the investment
unlike investment to R&D to develop new technology & new product, investment to grow business, etc

nonetheless, property investment is perceived sure-win long-term investment that every tom, dick and harry want to get their hands on
hence, price goes higher-n-higher ... building castle in the air

yes, rich does get richer because only rich can play & flip property
poor want to have a roof
middle class want to upgrade and pay through their nose with savings and pension (aka cpf)

CMs are helping to limit peasants paying through their noses or at least not through their bones
no such big head don't wear such big hat ...

[teddybear]

It is a fallacy that once govt remove CMs, it can cure the oversupply.
Either the CMs are wrong or the oversupply are wrong, I don't believe both are correct at the same time.

The CM's are put in place by the government to protect the middle class from losing their shirts paying waaay to much for properties. The ultimate cooling measure is the massive supply of properties that will TOP from now to 2017 , when this glut hits and prices go down the government will remove the CM's and keep things from getting too ugly , I think the CM's are the right thing to do and the time to buy is when they are rolled back as this is when the governemnt are signaling prices are at levels they are happy with

[walkthetiger]

very true but if u are in the right political camp shld not be a problem

In long run, I still have faith in Singapore property...but need to be careful when re-entering...... as I am choosing the right time…......have already set aside some millions.

I don't study economy using in-depth theories or some big time complex philosophies, but I just monitor market sentiment using layman’s theory, good enough to multiply my millions already.

It is not that difficult, but many are blind with greed or fear. Human's altitude never change.

[ecimbew]

Property possesses full potential if everyone dream to grab multiple properties, while the middle class dream of a retirement living with little bit of rental. With these,the rich can continue to speculate. Everybody wins, but bubble grew, and govt worry.

Now gov stops them, property price appears going over hill. Only left rich sells to another rich, future will be limited. Foreign investor seems cool off as well.

Haha …Li Ka-shing sells, therefore I have decided to cash out.

Li Ka-shing Says Land Prices in China, Hong Kong Deter Purchases

By Kelvin Wong
November 28, 2013 4:31 AM EST

Asia’s Richest Man Li Ka-Shing
Li Ka-shing, Asia’s richest man, said his companies have slowed land purchases in Hong Kong and China as prices have escalated to a high level.

“Land prices in Hong Kong are high, and already showing signs of an unhealthy situation,” Li said, according to a statement from Cheung Kong Holdings Ltd., his flagship developer. “Land prices in China have surged, and we’re unable to win auctions for land.”

The comments by Li, who controls Hong Kong’s biggest developer Cheung Kong, underline concerns that governments in China and in the city are struggling to tame an asset bubble fueled by cheap credit. New home prices in October jumped in all but one of the 70 Chinese cities tracked, the National Bureau of Statistics said Nov. 18. In Hong Kong, home prices remain more than twice as expensive as five years ago, even though they are little changed this year.

“In China’s first-and-second-tier cities, land prices are definitely too high,” said Lee Wee Liat, Hong Kong-based analyst at BNP Paribas SA. “But there’s no short-term solution as it’ll take time for land supply to increase. Cheung Kong (1) is probably waiting for prices to come down before they’ll buy again.”

Cheung Kong’s statement confirms comments Li made in an interview with Southern Metropolis Weekly.

Prices in China have escalated to a level that people are struggling to cope with and developers need to be cautious, Li told the newspaper. Li said he’s optimistic about the market and will continue investing if prices are reasonable.

Record Prices

Evergrande Real Estate Group Ltd. this month paid 5.14 billion yuan ($844 million) for a land site in Beijing, a record for the Chinese capital, The Standard newspaper reported. In September, Sun Hung Kai Properties Ltd., Hong Kong’s second-biggest builder, bought a site in Shanghai for 21.8 billion yuan in an auction, a record for the city.

Property sales in Hong Kong by Li’s companies, which include Hutchison Whampoa Ltd., reached HK$4 billion ($516 million) this year, the lowest in 13 years, because of a lack of government approval, the newspaper reported as Li saying.

Hong Kong’s government has since 2010 introduced extra property taxes and tightened mortgage lending in its attempt to curb home prices that are now the highest among major global cities according to a Savills Plc report in March.

Li, 85, said any suggestion that his companies are withdrawing investments from Hong Kong is “a big joke” and that asset sales are driven by “business reasons,” according to the Cheung Kong statement.

Victor’s Kidnapping

In an interview with Nanfang Daily newspaper published today, Li said his elder son Victor, who has worked with him for almost three decades, is ready to take over the running of his companies. Li said Victor is financially prudent and detail oriented, while younger son Richard is smart and nimble.

Li also told the Southern Metropolis Weekly he paid HK$2 billion in ransom after Victor was kidnapped by Hong Kong gang boss Cheung Tze-keung, nicknamed “Big Spender,” in 1996.

Li said he regretted not having enough security measures in place and that he told Cheung to take the money, flee Hong Kong and “be a decent man.” He said Cheung called him again later and told him he’s gambled all the money away.

Cheung was sentenced to death in 1998 after being tried by authorities in the southern Chinese city of Guangzhou for a series of crimes including the kidnapping of Walter Kwok, then chairman of Sun Hung Kai.

Li, with a fortune of $29 billion, according to the Bloomberg Billionaires Index, expanded his empire even as Hong Kong weathered crises ranging from rioting in the 1960s, a run on the currency in the 1980s, a property collapse in the late 1990s and the outbreak of the SARS virus in 2003.

He stepped up investing in Hong Kong real estate in 1967, after rioting incited by the Cultural Revolution depressed prices. He correctly forecast in 2007 that China’s stock-market bubble would burst and in 2009 predicted the rally in Hong Kong home prices.

http://www.bloomberg.com/news/2013-1...purchases.html

[august]

It is a fallacy that once govt remove CMs, it can cure the oversupply.
Either the CMs are wrong or the oversupply are wrong, I don't believe both are correct at the same time.

pty market is sentiment driven. Bad sentiment remove CMs people will also not buy... govt doesnt seem to understand this.

[walkthetiger]

Li Ka-shing Says Land Prices in China, Hong Kong Deter Purchases

He stepped up investing in Hong Kong real estate in 1967, after rioting incited by the Cultural Revolution depressed prices. He correctly forecast in 2007 that China’s stock-market bubble would burst and in 2009 predicted the rally in Hong Kong home prices.

http://www.bloomberg.com/news/2013-1...purchases.html

Mr li surely understand that politics is the forerunner of all things, except when SARs happened.

[radha08]

interesting views...i guess govt has an obligation to protect citizens that might over leverage themselves hence the numerous cms...

can sense some stability in the mkt now especially the hdb market...anyway come 2016 election results will show whether cms have done good or bad to the MAJORITY

[玉格格]

I feel that all these CM have resulted in a property market where the rich will get richer the middle class will struggle and the lower class will be poor forever.....

What are your thoughts....

It is SO difficult to play property now...unless you have deep pockets

no more easy access to $$$

DAMM sianz

assets rich oso cant play leh. wif tdsr n CMs, nid to be cash rich.

[auroraborealis]

actually not necessarily so... read N645 carefully
but need to be private banking customer, heard consumer banks not doing becos scare

assets rich oso cant play leh. wif tdsr n CMs, nid to be cash rich.

[walkthetiger]

interesting views...i guess govt has an obligation to protect citizens that might over leverage themselves hence the numerous cms...

can sense some stability in the mkt now especially the hdb market...anyway come 2016 election results will show whether cms have done good or bad to the MAJORITY

This thread is giving me another opportunity to sense the market sentiment. The many real rich investors chose to remain silent here; despite fully aware of the situation, many are regular formers here. If in HK, reactions from these people to those CMs will not happen like here, I can give you full guarantee. These people can influence nation policies in HK.

The formers from middle class are leaning toward to support gov policy, clearly show how successful this nation is, gov aka the CEO of this factory is still worth supported by middle class afterall. Although some middle “higher” class chose to KPKB, as unfortunately they are still holding well their multiple properties dreaming of retirement with uncertain rental income twenty years later.

Uniquely Singapore.

[walkthetiger]

Although some middle “higher” class chose to KPKB, as unfortunately they are still holding well their multiple properties dreaming of retirement with uncertain rental income twenty years later.

Uniquely Singapore.

This group could the our future asset rich but cash poor people on the street....I guess.