Analysts expect shift in housing policy?

[Roh96]

With the floodgate for foreigners still open wide, i don't expect housing prices to come down. If KBW can bring down prices by 5-10% over the next 2 yr consider very good liao. Just look at China and HK, no matter how hard their gov tries the prices still remain stubbornly high.

[Moredhel]

erh i think 60-100 you quoted is purely the internal material cost and does not include the external shared facilities like lift landing, stair case, car park, etc right?

 

Inclusive.

 

^^

 

Everything in.

[Latka]

With the floodgate for foreigners still open wide, i don't expect housing prices to come down. If KBW can bring down prices by 5-10% over the next 2 yr consider very good liao. Just look at China and HK, no matter how hard their gov tries the prices still remain stubbornly high.

 

Don't think re-sale prices will be affected. If they increase household income to 10k per month, re-sale mkt may boom.

Its the prices of flats direct fm HDB that citizens are not happy with.

[Kwchan]

may be they should follow HK, whereby the buy/sell of government housing is controlled to ensure that the price will not shoot up

 

also, rental of government housing is not followed in HK

 

this prevent pple from buying cheap house from government and rent out for profits.

[Ben5266]

erh i think 60-100 you quoted is purely the internal material cost and does not include the external shared facilities like lift landing, stair case, car park, etc right?

Still need to add cost like XO, 3 hour or over night,....

[Kangadrool]

Don't think re-sale prices will be affected. If they increase household income to 10k per month, re-sale mkt may boom.

Its the prices of flats direct fm HDB that citizens are not happy with.

 

spot on. The reason why they have pegged new flat direct from HDB to resale market value is jealous to see us profiting from sale of our HDB flats.

[Blackyv]

FT..

 

Sinkies not so stupid unless no choice.

 

yup, sold to a KL boy and he is a housing agent...must know something we don't or like that unit soooo much......

[Toyo]

i think my bil smart... sold his 4-rm flat at buangkok for $535K last week and plan to sit on the fence, wait for timing to go in again.......

 

 

half a million!!! wow!

[Toyo]

i just got my queue number for latest BTO after 5 failed attempts in balloting....

 

hope the new policies can quickly implemented

 

i doubt so. I also managed to get a queue no. after 4 or 5 attempts and just selected a unit last yr

not easy getting a queue no. so just quickly grap one and worry later

Edited May 20, 2011 by Toyo

[Kangadrool]

$535K - $200K = $335K profits. Unfortunately, that's what they hate to see and that's why new flats are pegged to resale market value and sold at that price to you even when you buy DIRECT.

Edited May 20, 2011 by Kangadrool

[Jasonjst]

Great lor , hope this time round FTs got burn jia lat , teach them a lesson not to play play here !

[Samshio]

It's a difficult situation, lower the flat prices too much, then the queue for new flats will be longer. resale flat demand will drop, thus propety prices drop in general.

 

perhaps if they lower the prices of new flats, there might be additional restrictions on selling or put a sales levy/tax when selling, or can only sell back to hdb at discount

[Blackyv]

half a million!!! wow!

 

to be precise, more than half a million....

[Moredhel]

With the floodgate for foreigners still open wide, i don't expect housing prices to come down. If KBW can bring down prices by 5-10% over the next 2 yr consider very good liao. Just look at China and HK, no matter how hard their gov tries the prices still remain stubbornly high.

 

Their govt not trying hard enough.

 

 

1) HDB Flats can only be bought by Citizens or a Singaporean in the ownership nucleus.

2) BTO System to be scrapped. Build flats ahead of forecasted demand for the next 2-3 years based on records and statistics.

3) With regards to HDB housing, PRs are only allowed to rent until they become a citizen.

4) New Flats to be given up to 40% Actual Subsidy of the median of resale house prices in the surrounding area min stay 12 yrs (central/high demand districts to be pegged to national average valuation + land cost)

5) Areas to increase value based on developments in the area.

6) COV to be taken out of calculation the median price of the flat sold(only valuation amount is taken into consideration)

 

 

My explanation:

 

1) Restrict SG public housing to the actual Singaporean public. No frying of the market by external monies.

2) Ensure enough surplus - straight forward enough.

3) Reinforcement of pt 1 and safety net to ensure Singaporeans are not being taken for a ride by foreigners.

4) Actual subsidy to ensure young Singaporeans can pay off the loan amounts taken at maximum of 20 years within price bracket

5) Actual market forces to much value of HDB and not artificial forces like COVs

6) COV is artificial inflation and should be taken out of the equation. Only official valuations should be taken.

 

 

What results I hope to see from these:

 

Remove 100% foreign monies in ownership/lease of HDBs hence stabalizing the maket to local conditions.

Ensure sufficient and affordable housing for Singaporean families starting a famil, hence contributing to the high profile birth rate problem.

40% subsidy should be covered by inflation and actual developments in 12 years to bring it up to actual market value.

On selling, the said amount should be paid back to CPF account to develop retirement funds for economical and social stability(no cash profits other than COV)

If Singaporean decides to migrate, 40% + accrued interest would be removed from final drawn cpf amount entitlement.

 

 

Long term results:

 

Stable and Afforable new housing

Sustainable growth for current ownership

Less brain drain

Happier and more gracious society

More SG children

Less possibility of a property bubble

 

 

Short term effects:

 

GDP would be affected due to cut off from foreign funds and artificial inflation

Total value of reserves would be lowered to gaurantee success of this plan(not substantially though)

Spike in Private home market prices which might price potential private upgraders out of the market

Difficulty in bridging current and future COV amounts.

 

 

Comments?

[Blackyv]

$535K - $200K = $335K profits. Unfortunately, that's what they hate to see and that's why new flats are pegged to resale market value and sold at that price to you even when you buy DIRECT.

 

 

to be more precise, it should be $535K - ~$175K = $360K...

[Acemundo]

Inclusive.

 

^^

 

Everything in.

 

 

not likely in singapore la....see soya also share my views

[Acemundo]

Still need to add cost like XO, 3 hour or over night,....

 

that's why i stand by my estimate.

 

i dont think 60-100psf is achievable.

[Jasonjst]

Their govt not trying hard enough.

 

 

1) HDB Flats can only be bought by Citizens or a Singaporean in the ownership nucleus.

2) BTO System to be scrapped. Build flats ahead of forecasted demand for the next 2-3 years based on records and statistics.

3) With regards to HDB housing, PRs are only allowed to rent until they become a citizen.

4) New Flats to be given up to 40% Actual Subsidy of the median of resale house prices in the surrounding area min stay 12 yrs (central/high demand districts to be pegged to national average valuation + land cost)

5) Areas to increase value based on developments in the area.

6) COV to be taken out of calculation the median price of the flat sold(only valuation amount is taken into consideration)

 

 

My explanation:

 

1) Restrict SG public housing to the actual Singaporean public. No frying of the market by external monies.

2) Ensure enough surplus - straight forward enough.

3) Reinforcement of pt 1 and safety net to ensure Singaporeans are not being taken for a ride by foreigners.

4) Actual subsidy to ensure young Singaporeans can pay off the loan amounts taken at maximum of 20 years within price bracket

5) Actual market forces to much value of HDB and not artificial forces like COVs

6) COV is artificial inflation and should be taken out of the equation. Only official valuations should be taken.

 

 

What results I hope to see from these:

 

Remove 100% foreign monies in ownership/lease of HDBs hence stabalizing the maket to local conditions.

Ensure sufficient and affordable housing for Singaporean families starting a famil, hence contributing to the high profile birth rate problem.

40% subsidy should be covered by inflation and actual developments in 12 years to bring it up to actual market value.

On selling, the said amount should be paid back to CPF account to develop retirement funds for economical and social stability(no cash profits other than COV)

If Singaporean decides to migrate, 40% + accrued interest would be removed from final drawn cpf amount entitlement.

 

 

Long term results:

 

Stable and Afforable new housing

Sustainable growth for current ownership

Less brain drain

Happier and more gracious society

More SG children

Less possibility of a property bubble

 

 

Short term effects:

 

GDP would be affected due to cut off from foreign funds and artificial inflation

Total value of reserves would be lowered to gaurantee success of this plan(not substantially though)

Spike in Private home market prices which might price potential private upgraders out of the market

Difficulty in bridging current and future COV amounts.

 

 

Comments?

 

Great , I think so too !

If only they can listen to us on such things ..