Page 1 of 5 12345 LastLast
Results 1 to 30 of 135

Thread: Raising ABSD for second homes among new property-cooling measures announced

  1. #1
    Join Date
    Oct 2011
    Posts
    10,829

    Default Raising ABSD for second homes among new property-cooling measures announced

    https://www.channelnewsasia.com/news...oling-10502710

    Raising ABSD for second homes among new property-cooling measures announced

    05 Jul 2018 07:21PM


    SINGAPORE: The Government on Thursday (Jul 5) announced it would raise Additional Buyer Stamp Duty (ABSD) rates and tighten Loan-to-Value (LTV) limits on residential property purchases in an effort to "cool the property market and keep price increases in line with economic fundamentals".

    In a press release jointly sent by the finance and national development ministries, as well as the Monetary Authority of Singapore, the authorities said the ABSD will be raised by 5 percentage points for citizens and permanent residents buying second and subsequent homes, and by 10 percentage points for entities.

    An additional ABSD of 5 per cent, which is non-remittable under the Remission Rules, will also be introduced for developers purchasing residential properties for housing development.

    LTV limits will be tightened by 5 percentage points for all housing loans granted by financial institutions, the release stated.

    The authorities noted that private residential prices increased by 9.1 per cent over the past year.

    "The sharp increase in prices, if left unchecked, could run ahead of economic fundamentals and raise the risk of a destabilising correction later, especially with rising interest rates and the strong pipeline of housing supply," they said.


  2. #2
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,531

    Default

    Congrats to the 10% The Garden Residences buyer, wow.

  3. #3
    Join Date
    Apr 2009
    Posts
    869

    Default

    Wah just before riverfront is launched. R they going to launch it tonite?

  4. #4
    Join Date
    Apr 2009
    Posts
    70

    Default

    what's the likelihood of % drop immediately from earlier rounds of cooling measures?

  5. #5
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,531

    Default

    $50,000 saving just OTP tonight

    Urgent Urgent Announcement!!

    *Announcement 1*
    *Riverfront & Park Colonial*

    is launching today 5th June!!

    1st come 1st Serve!

    *Announcement 2*
    *ALL PropNex Showflats will OPEN until LATE, Bring your buyers*

    LAST CHANCE to Enjoy OLD ABSD and 80% LOAN!!

  6. #6
    Join Date
    Apr 2012
    Posts
    174

    Default

    Quote Originally Posted by Arcachon View Post
    $50,000 saving just OTP tonight

    Urgent Urgent Announcement!!

    *Announcement 1*
    *Riverfront & Park Colonial*

    is launching today 5th June!!

    1st come 1st Serve!

    *Announcement 2*
    *ALL PropNex Showflats will OPEN until LATE, Bring your buyers*

    LAST CHANCE to Enjoy OLD ABSD and 80% LOAN!!
    Bro, it is July already.

  7. #7
    Join Date
    Jun 2009
    Posts
    5,675

    Default

    Stirling also open for emergency sale ha ha.

  8. #8
    Join Date
    Jun 2009
    Posts
    5,675

    Default

    Might see some projects doing write downs later this year i guess.

  9. #9
    Join Date
    May 2018
    Posts
    100

    Default

    as i have mentioned in other posts, the developers should have launched earlier.

    From what I have read, I may be wrong, but JP Morgan was the only research house to warn about additional cooling measures.

    Kudos to JP Morgan!

  10. #10
    Join Date
    May 2018
    Posts
    100

    Default

    congrats to the 10% buyers?

    who's going to buy from them later on? the future buyers who buy from them will have to contend with a 75% loan

  11. #11
    Join Date
    Nov 2008
    Posts
    1,385

    Default

    Quote Originally Posted by Arcachon View Post
    $50,000 saving just OTP tonight

    Urgent Urgent Announcement!!

    *Announcement 1*
    *Riverfront & Park Colonial*

    is launching today 5th June!!

    1st come 1st Serve!

    *Announcement 2*
    *ALL PropNex Showflats will OPEN until LATE, Bring your buyers*

    LAST CHANCE to Enjoy OLD ABSD and 80% LOAN!!
    All the best for tonight sales. Think will be a sold out

  12. #12
    Join Date
    Oct 2011
    Posts
    290

    Default

    I recalled the Echelon and La Fiesta also did the same on the night the last cooling measures were announced.
    Did those that signed that night profit from that decision? I didnt check the transactions but that shld provide a good guide.

  13. #13
    Join Date
    May 2008
    Posts
    9,279

    Default

    there's a stampede at riverfront resi. still waiting to see other pics from other showflats hehehe. pretty entertaining.

  14. #14
    Join Date
    Oct 2011
    Posts
    290

    Default

    Any pricing to share? Or just get OTP and fill in price later?

  15. #15
    Join Date
    Mar 2014
    Posts
    28

    Default

    Quote Originally Posted by bargain hunter View Post
    there's a stampede at riverfront resi. still waiting to see other pics from other showflats hehehe. pretty entertaining.
    Can share some pic pls? Thanks

  16. #16
    Join Date
    Jun 2009
    Posts
    100

  17. #17
    Join Date
    May 2008
    Posts
    9,279

    Default

    https://www.facebook.com/Propertygur...type=3&theater

    not good at pasting photos, so gotta paste the fb links for now.

  18. #18
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by Khng8 View Post
    Any pricing to share? Or just get OTP and fill in price later?
    no discount information heard. i can imagine the late comers signing on a blank OTP first then later decide to buy or tear lol.

  19. #19
    Join Date
    Oct 2012
    Posts
    1,163

    Default

    Quote Originally Posted by bargain hunter View Post
    no discount information heard. i can imagine the late comers signing on a blank OTP first then later decide to buy or tear lol.
    Tomorrow developers and banks stock market price drop.

  20. #20
    Join Date
    May 2018
    Posts
    100

    Default

    don't see what's the rush...
    for first time buyers, just pay 5% more in cash and take up less borrowings

  21. #21
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by sginvestor View Post
    don't see what's the rush...
    for first time buyers, just pay 5% more in cash and take up less borrowings
    but their choice units would be gone to the second ppty purchases if they don't join the stampede.

  22. #22
    Join Date
    Jun 2009
    Posts
    100

  23. #23
    Join Date
    Oct 2011
    Posts
    290

    Default

    I can understand why the rush as who wants to pay more to the government?
    The earlier ABSD is already a huge disincentive already.

  24. #24
    Join Date
    Oct 2012
    Posts
    1,163

    Default

    Last chance to buy 2nd property. This is the final chance. Want to be landlord is very hard after this. CPF money will be trapped until 55yrs old. Very smart move.
    Last edited by star; 05-07-18 at 22:04.

  25. #25
    Join Date
    Oct 2012
    Posts
    1,163

    Default

    For those who have more than 1 property once u sell away 1 it is not possible to buy again.

  26. #26
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by star View Post
    For those who have more than 1 property once u sel away 1 it is not possible to buy again.
    this is the same issue as previous cooling measures rite? people keep thinking cooling measures will crash the market low enough to buy but it doesn't happen.

  27. #27
    Join Date
    Mar 2014
    Posts
    28

    Default

    It did kill transaction volume and did dampen the prices for a while, until the enbloc frenzy happened in nov 2017

  28. #28
    Join Date
    Oct 2012
    Posts
    1,163

    Default

    Actually resale prices did not go up much. Only new launches went up alot. Y dampen the resale market?

  29. #29
    Join Date
    Apr 2011
    Posts
    295

    Default

    The writing is on the wall when Vancouver cooling measures went into overdrive

    https://www.google.com.sg/amp/s/www....ticle38195805/
    Just Do It! 要拼才会赢!

  30. #30
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by star View Post
    Actually resale prices did not go up much. Only new launches went up alot. Y dampen the resale market?
    precisely. need bro kelonguni's insight. i really dun understand why now.

Similar Threads

  1. Luxury homes untouched by latest property cooling measures for now
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 19-01-22, 09:41
  2. Singapore parents skirt property cooling measures by buying homes in children's names
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 31-07-19, 12:35
  3. More property cooling measures announced
    By Ringo33 in forum Singapore Private Condominium Property Discussion and News
    Replies: 471
    -: 15-01-13, 04:31
  4. Cooling measures likely to boost sales of sub-$1.5m homes
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 19-11-12, 17:21
  5. Some measures for shoeboxes announced
    By bargain hunter in forum Singapore Private Condominium Property Discussion and News
    Replies: 137
    -: 07-09-12, 11:42

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •