New HDB ruling-COV figures no longer part of nego process

[Strata]

With this new ruling, it is very obvious that government is trying to tweak the property market becoming a buyers market. This will further soften the resales price further for sure....how does this impact you?

Any comments?

[Arcachon]

To further promote the resale public housing market, the “Mortgage Loan
Financing Scheme” was revised in April 1993. This scheme allows resale
public housing purchasers to obtain mortgage loans of up to 80% of the
purchase price or the market value of a housing unit, whichever is lower.
Before this policy revision, the amounts of mortgages available for resale
public housing were pegged at the HDB’s “posted prices,” which were fixed
at historical values and priced very much below transacted prices. This
change in mortgage loan financing has therefore provided a great boost to
the public housing resale market, as purchasers are now able to obtain much
larger mortgage amounts.

http://epmesc.umac.mo/fba/irer/paper...15_132Sing.pdf

Do you want HDB to go back to pre 1993 HDB’s “posted prices,”

[Arcachon]

How to get HDB valuation for SGD 1.

Just get TOM, DICK or Harry to sign the option, after valuation just let it expire.

Purchase Price $ 1,000,000 ("Purchase Price")

Option Fee (Up to a maximum of $1,000) $ 1 ("Option Fee")

http://services2.hdb.gov.sg/webapp/B...4SPdfConverter

7. Non-Exercise of Option

If the Buyer does not exercise this Option in the manner stated in this Option, and provided the Seller has met the requirement in Clause 3.1 ----

(a) the Seller is entitled to retain the Option Fee SGD 1; and

(b) neither party will have any claim against the other.

[oops]

Many hdb families are facing cash flow problems these few years.. credit cards and loans.. As such many of them will need cash out even at below value. Even more with the shortage of buyers.

[blackapple]

Many hdb families are facing cash flow problems these few years.. credit cards and loans.. As such many of them will need cash out even at below value. Even more with the shortage of buyers.

So bad mah!!! How come I did not feel or hear this problem...

But I know many waiting to buy second pty..

[LiveYoung]

Many hdb families are facing cash flow problems these few years.. credit cards and loans.. As such many of them will need cash out even at below value. Even more with the shortage of buyers.

The situation you described sounds more like an extreme case. HDB is meant to be affordable and to hold not to speculate for normal HDB families. If a family even has problem paying their HDB loans, selling their HDB property wouldn't save them in the long run and they will lose probably the biggest asset in their life.

[Arcachon]

So bad mah!!! How come I did not feel or hear this problem...

But I know many waiting to buy second pty..

Depend on whether you are the Ang mo or the Singaporean.

[Arcachon]

https://www.dropbox.com/s/qz4lkgmr5x...%20Housing.pdf

To further promote the resale public housing market, the “Mortgage Loan
Financing Scheme” was revised in April 1993. This scheme allows resale
public housing purchasers to obtain mortgage loans of up to 80% of the
purchase price or the market value of a housing unit, whichever is lower.
Before this policy revision, the amounts of mortgages available for resale
public housing were pegged at the HDB’s “posted prices,” which were fixed
at historical values and priced very much below transacted prices. This
change in mortgage loan financing has therefore provided a great boost to
the public housing resale market, as purchasers are now able to obtain much
larger mortgage amounts.