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Thread: Is this a good strategy? Developer ABSD rebate only for buyers with >=1 properties??

  1. #1
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    Default Is this a good strategy? Developer ABSD rebate only for buyers with >=1 properties??

    What do you guys think?

    That means buyers who have not owned a property (i.e. not affected by ABSD) will not get to enjoy such discount. That means, it is not a gimmicky "ABSD rebate" that many other developers are currently using.

    Heard it might happen at Prince Charles Crescent soon. For a high-end product, guess it might work because those with deeper pockets for a premium product usually would have already owned their first or second or more properties. Relieving them of ABSD might entice them to buy.

    See Jonathan 96882200's dropbox for more info.

  2. #2
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    Price discrimination. Is it even legal? Then is equivalent to Govt removing ABSD. Will it even be allowed?

    Quote Originally Posted by sunboy77 View Post
    What do you guys think?

    That means buyers who have not owned a property (i.e. not affected by ABSD) will not get to enjoy such discount. That means, it is not a gimmicky "ABSD rebate" that many other developers are currently using.

    Heard it might happen at Prince Charles Crescent soon. For a high-end product, guess it might work because those with deeper pockets for a premium product usually would have already owned their first or second or more properties. Relieving them of ABSD might entice them to buy.

    See Jonathan 96882200's dropbox for more info.
    The three laws of Kelonguni:

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

  3. #3
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    Quote Originally Posted by sunboy77 View Post
    What do you guys think?

    That means buyers who have not owned a property (i.e. not affected by ABSD) will not get to enjoy such discount. That means, it is not a gimmicky "ABSD rebate" that many other developers are currently using.

    Heard it might happen at Prince Charles Crescent soon. For a high-end product, guess it might work because those with deeper pockets for a premium product usually would have already owned their first or second or more properties. Relieving them of ABSD might entice them to buy.

    See Jonathan 96882200's dropbox for more info.
    Is it a genuine discount or just another markup with gimmick?

  4. #4
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    Quote Originally Posted by Kelonguni View Post
    Price discrimination. Is it even legal? Then is equivalent to Govt removing ABSD. Will it even be allowed?
    Hmm... isn't this what the government had wanted - to cool prices?

    Anyway, selling an unit that faces the bin centre at a cheaper price over one that is facing the pool is also a kind of price differentiation ma. Different target group, different price.

    It is legal as long as any discounts/ reimbursements/ etc. are declared to Controller of Housing.
    Last edited by sunboy77; 24-05-14 at 16:37.

  5. #5
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    Quote Originally Posted by yowetan View Post
    Is it a genuine discount or just another markup with gimmick?
    Genuine discount. Cos those not paying ABSD will not have such a discount.

  6. #6
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    Quote Originally Posted by sunboy77 View Post
    Genuine discount. Cos those not paying ABSD will not have such a discount.
    It's an excellent idea to level the playing field

  7. #7
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    Quote Originally Posted by yowetan View Post
    Is it a genuine discount or just another markup with gimmick?
    Possible genuine discount. I remembered d.leedon during the launch, also give more discounts for buyers who bought their property from them before, staying within x distance and children studinging around that farrer location, all get additional discounts.

  8. #8
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    Developer should give loyalty card.

  9. #9
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    Quote Originally Posted by sunboy77 View Post
    Hmm... isn't this what the government had wanted - to cool prices?

    Anyway, selling an unit that faces the bin centre at a cheaper price over one that is facing the pool is also a kind of price differentiation ma. Different target group, different price.

    It is legal as long as any discounts/ reimbursements/ etc. are declared to Controller of Housing.
    That means to say second time buyers are not subjected to ABSD, which defeats the purpose of having ABSD to begin with.

    Price differentiation is different from discrimination. What will first time buyers think?
    The three laws of Kelonguni:

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

  10. #10
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    Life is always unfair.
    Quote Originally Posted by Kelonguni View Post
    That means to say second time buyers are not subjected to ABSD, which defeats the purpose of having ABSD to begin with.

    Price differentiation is different from discrimination. What will first time buyers think?

  11. #11
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    Quote Originally Posted by Kelonguni View Post
    That means to say second time buyers are not subjected to ABSD, which defeats the purpose of having ABSD to begin with.

    Price differentiation is different from discrimination. What will first time buyers think?
    Like Werther had mentioned, some developments give different discounts to different buyers - what work distance discount la, proximity discount la, distance from kids' school discount la, loyalty discount la.

    This is really no different.

    I guess this developer knows that most people who buy this product are mainly the 2nd or 3rd or more timers...

  12. #12
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    Quote Originally Posted by sunboy77 View Post
    Like Werther had mentioned, some developments give different discounts to different buyers - what work distance discount la, proximity discount la, distance from kids' school discount la, loyalty discount la.

    This is really no different.

    I guess this developer knows that most people who buy this product are mainly the 2nd or 3rd or more timers...
    Honestly I don't mind since I also benefit.

    But unlikely to materialise. Developers have to fork out in advance and this will affect their cash flow.

    When it comes to that, it means developers are desperate...
    The three laws of Kelonguni:

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

  13. #13
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    Quote Originally Posted by Kelonguni View Post
    But unlikely to materialise. Developers have to fork out in advance and this will affect their cash flow.
    No, developer will not pay for the buyer first. Likely to be done using the method of 'reimbursement'.

  14. #14
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    I see. In that case it is just like a discount of 7% disguised and targeted for second time buyers. But turn off for first time buyers that's what I mean.
    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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    Just indicate absorb stamp duty and absd..... so all buy at same price...... no a price discrimination, coz actual outlay of all buyers the same

  16. #16
    OCR properties going to crash!

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    ABSD itself is introduction of discrimination, like discriminate against non-first time buyers, discriminate against PRs, discriminate against foreigners!

    Quote Originally Posted by Kelonguni View Post
    That means to say second time buyers are not subjected to ABSD, which defeats the purpose of having ABSD to begin with.

    Price differentiation is different from discrimination. What will first time buyers think?

  17. #17
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    Quote Originally Posted by teddybear View Post
    ABSD itself is introduction of discrimination, like discriminate against non-first time buyers, discriminate against PRs, discriminate against foreigners!
    Wah teddy! This is so well-said!!!
    *Where is the LIKE button?*

  18. #18
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    Quote Originally Posted by teddybear View Post
    ABSD itself is introduction of discrimination, like discriminate against non-first time buyers, discriminate against PRs, discriminate against foreigners!
    There is an articulable rationale for ABSD, primarily to help first time buyers and prevent runaway prices. If discount for all still ok. But if remove only for second time buyers it seems to undo the plan... Isn't it helping the rich to get richer? Very kelong leh.
    The three laws of Kelonguni:

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

  19. #19
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    Quote Originally Posted by Kelonguni View Post
    There is an articulable rationale for ABSD, primarily to help first time buyers and prevent runaway prices. If discount for all still ok. But if remove only for second time buyers it seems to undo the plan... Isn't it helping the rich to get richer? Very kelong leh.
    Rationale for ABSD not so clear cut. It is a money spinner for gahment. Also, Like all other forms of taxes, this introduces deadweight loss to the society.

  20. #20
    OCR properties going to crash!

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    ABSD + TDSR together helps to eliminate many people from buying and helps the rich to get richer anyway (because only they have fire-power to buy more through re-mortgaging or through company loans and many other financing means) since ABSD+TDSR will cause property prices to drop or even crash.............

    This is the same as saying implementing and raising GST is to help the poor because the rich will pay more in GST BUT rationale and in-depth calculation will show otherwise when top tier income tax has been reduced from 30% to 20/18%......................

    Quote Originally Posted by Kelonguni View Post
    There is an articulable rationale for ABSD, primarily to help first time buyers and prevent runaway prices. If discount for all still ok. But if remove only for second time buyers it seems to undo the plan... Isn't it helping the rich to get richer? Very kelong leh.

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