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New property cooling measure!

Thaiyotakamli

By Thaiyotakamli,
in Property Buzz

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Roadie

Roadie

1st Gear

They should reward those who report to the authority, say 10k for every successful conviction. then no one will dare to do that. Imagine your tenant, neighbour, even property agent can sabo you...

 

 

Have to be careful with that because a lot of PR also rent unapproved flats from Singaporeans.

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Felipe

Felipe

3rd Gear

HDB price increase is due to supply and pte properties hike. Otherwise, why would KBW need to pacify all by releasing more land for HDB?

 

With the new measure and new leases of HDB flats, this is the way to go. First timer and upgrader are the one left behind during this property hype.

Then again, it probably came too late. Nothing is really affordable for this groupies now.

But as u can see, increasing supply doesn't solve the problem. What's needed is more regulation on hdb side, like sublet n cov.

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Felipe

Felipe

3rd Gear

COV is on willing buyer willing seller basic. You can't do anything to it. If you cap it, buyer just pay the seller using under-table way. Then, seller will sell his flat to buyer who give the most undeclared under table money. <_<

Impose harsh penalties on undertable. Like cea clamp down on property agent who did undertable last time.

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Jman888

Jman888

Moderator

COV is on willing buyer willing seller basic. You can't do anything to it. If you cap it, buyer just pay the seller using under-table way. Then, seller will sell his flat to buyer who give the most undeclared under table money. <_<

 

 

like some say impose penalty for those who deal under table, even of some manage to escape, at least no one dare to announce publicly of the record breaking COV, and the other owners would not compete to up the COV.

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Fourth

Fourth

2nd Gear

Impose harsh penalties on undertable. Like cea clamp down on property agent who did undertable last time.

 

You siao ah? Owners refuse to sell unless they get target cov, you want gov to force owners to sell?

Under table money for agent is unethical, but owners asking for cov is not. It is their property anyway.

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Fourth

Fourth

2nd Gear

I dont see much cooling measures but i see a lot of pocket lining measures ...... [rolleyes]

 

Likewise COE doesnt control traffic much and neither does ERP, but it does add billions to [;)]

 

*yawn*

 

Looks like only peanuts left for property owners. Most of the money goes to... :wacko:

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Felipe

Felipe

3rd Gear

You siao ah? Owners refuse to sell unless they get target cov, you want gov to force owners to sell?

Under table money for agent is unethical, but owners asking for cov is not. It is their property anyway.

No la, I mean if got rules about cov, then dun do undertable cos It's wrong

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Felipe

Felipe

3rd Gear

Looks like only peanuts left for property owners. Most of the money goes to... :wacko:

Miw big winner at the end of the day. Really admire them, can make ppl think black is white

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Vtim

Vtim

3rd Gear

if one spouse is new citizen and the other is PR consider as PR family or citizen family?

 

Should be citizen right?

 

 

here's the info:

 

6) However, ABSD relief will be provided for joint purchases by married couples with at least one Singaporean spouse (i.e. a married couple with a Singaporean spouse and PR / foreigner spouse). Such purchases will not be subject to ABSD, as long as both spouses do not own any other property at the time of purchase. This relief facilitates their purchase of a matrimonial home, and puts them in the same position as a married couple with both Singaporean spouses who are purchasing their first residential property.

 

7) ABSD relief will also be provided to eligible married couples with at least one Singaporean spouse, who have purchased a second private residential property and will dispose their existing residential property.

 

(i) The ABSD paid will be refunded if these Singaporean married couples dispose their first property within six months of the purchase of the second property, if the latter property is a completed unit.

 

(ii) If the second property is an uncompleted unit, the refund will be given if the first property is disposed within six months of the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC) date of the second property, whichever is earlier.

 

(iii) These Singaporean couples must also not acquire any other residential property before the disposal of the first residential property, if they wish to avail themselves of the refund on ABSD paid on the second property.

 

 

See attachment for full press release

 

Press_Release_Cooling_Measures_11012013.pdf

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Vtim

Vtim

3rd Gear

Question???

 

I now have a HDB, fully paid and no personal debts. Where do i stand? can buy private? how much stamp duty? How much can bank loan?

 

 

Can buy private but pay 3% BSD + 7% ABSD as it is consider 2nd residential property

 

Since HDB fully paid up, the LTV limit remains 80%, or 60% if the loan tenure exceeds 30 years or the loan period extends beyond the borrower

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Turret

Turret

Clutched

so many rounds of CM

 

but interest rate still virgin

 

:D

 

 

Our interest rates are closely tied with that of the US interest rates. As long as the US interest rates are kept low.... Singapore will follow suit. But this may not be the case coming next year 2014, where it is expected to creep up slowly as the US economy recovery gains momentum. Even the FED Reserves has hinted that it will not be introducing any QEIII measures.

 

The current US periodic economic data bear testament that its economy is on the right track (ranging from US consumer data, employment benefits, unemployment rates, housing price) to recover.

 

Coupled with these latest round of cooling measure, the upward price trend in the local property market will be muted in the coming few years, especially when interest rates rise- those mortgages with floating interest rates will be hit hard..

 

let's wait n c

 

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