New property cooling measure!

[Felipe]

me in similiar position. Disgusted with the "pro-family" policy that discriminates against single citizens but opens up doors (literally) for PRs. Even resale flat prices have climbed to such heights it makes affordability an real issue for singles (being single income.... )

 

for the past 3 years, ppty prices increased at a higher rate than my income & savings rate. How to afford?

 

a few of my peers (who are also single and <35 yo) decided to plunge into the private ppty mkt in 2011/12 due to fears of unaffordability in the near future. But they had to max out loans, risking over-leveraging themselves, hoping for job stability (but in the face of a gloomy global economy??) and low interest rates. I have no wish to expose myself to that risk.

 

IMO they will not allow singles to buy BTOs as that is inflationary in nature. Might be hard to swallow. They wld rather "encourage" guys n gals to plunge into rushed marriages and risk runaway brides (reference the other thread on runaway brides)

 

I hope to be able to afford a place i can call "home" in Johor/msia before prices there escalate to dizzying heights too. Seems the state of johor is alrdy looking into foreign demand pushing up prices... pricing locals out of the mkt. Maybe have to look further north...

 

your friends made the right decision as long as they can go back to parents home in the event they lose their job. they can simply rent out their private property to cover loan. anyway, property is a long term plan and it's still one of the best investments as long as don't speculate.

[Felipe]

2mil EC saboking... other devt. sure angwy

rem election coming. miw must act now. but funny cos i think their latest policy affect punggoloids.

 

but it may backfire as punggol got many hdb owners. may be they are upset they now have to sell hdb to buy pte property. we'll see.

[Songsong]

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?

[Shibadog]

your friends made the right decision as long as they can go back to parents home in the event they lose their job. they can simply rent out their private property to cover loan. anyway, property is a long term plan and it's still one of the best investments as long as don't speculate.

 

 

yup but it's a big assumption on the rentals... lots of private ppty gonna TOP in the next 2-3 years. I'm not convinced the mkt can soak it all up.

[Thaiyotakamli]

So can anyone please share some light on property seminars: "How to Invest with Little or No Money"

 

How do these guys do it?

if little money or no money, can try REIT, pooling at least no need big capital plus handled by professionals

[Thaiyotakamli]

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 pte, bank loan same like first timer LTV. stamp duty? based on new rule u gotta pay 7%

http://www.iras.gov.sg/irashome/page04.aspx?id=12832

[Felipe]

yup but it's a big assumption on the rentals... lots of private ppty gonna TOP in the next 2-3 years. I'm not convinced the mkt can soak it all up.

 

simply rent cheap. we are a cosmopolitan city. there will always be FT here. unless govt put a stop.

[Felipe]

can buy pte, bank loan same like first timer LTV. stamp duty? based on new rule u gotta pay 7%

http://www.iras.gov.sg/irashome/page04.aspx?id=12832

 

ABSD 7%. means 10% total inclusive of 3% standard BSD.

 

u buy a million dollar condo. pay 100k more in cash, but can claim back CPF later i think.

[Felipe]

if little money or no money, can try REIT, pooling at least no need big capital plus handled by professionals

 

monday panic selling or REITs?

[Thaiyotakamli]

ABSD 7%. means 10% total inclusive of 3% standard BSD.

 

u buy a million dollar condo. pay 100k more in cash, but can claim back CPF later i think.

unless property price drop more than 10%, then it will considered 'cooled'

[themagi]

unless property price drop more than 10%, then it will considered 'cooled'

 

Although property prices went up more than 10% since 2009, depending on location. Cooled but not really that cooled.

[Thaiyotakamli]

Although property prices went up more than 10% since 2009, depending on location. Cooled but not really that cooled.

at least it should go back to the normal price and the cool here ensure that price will not go up in this year.

[Thaiyotakamli]

is the cooling of property will mean people less buy and with more money in hand, its either they turn into neighbour market and or buy car (hike up the COE price)?

[Ngck]

the dream was to rent out the HDB cos it fetches the best rental yield for residential at the moment. I won't say dream burst. Just see whether u want to pay 10% stamp duty.

 

imo, if the govt is serious, HDB should only be for occupiers, not rentals, as the priority has always been to give affordable housing to Sporeans, not as rental space for FT.

 

but govt is like that, a lot of times things are for show. This is the latest show.

 

they serious until rent out all the blocks targeted for SERS...

 

like that can earn money faster. You ask them to stop renting? hehe

[Ngck]

what cooling measures also no use unless supply and demand problem solve..

 

either you up supply or you reduce demand.

[Unitek]

* rich property investors will not hold back with the ABSD increase.

* HDB up-grader not affected. But their flat need to sell off, meaning a steady supply of HDB flats. So i guess HDB flats prices should stablize.

* First time HDB buyer no affected. In fact, there should be more options and available units now.

 

I personally favor such ruling. It should curb those pte owner taking huge loan for their second pte housing. If this continue, we could face what the americans are suffering today.

 

[Unitek]

Go invest in bonds and reits lor.

 

is the cooling of property will mean people less buy and with more money in hand, its either they turn into neighbour market and or buy car (hike up the COE price)?

 

[Myxilplix]

me in similiar position. Disgusted with the "pro-family" policy that discriminates against single citizens but opens up doors (literally) for PRs. Even resale flat prices have climbed to such heights it makes affordability an real issue for singles (being single income.... )

 

for the past 3 years, ppty prices increased at a higher rate than my income & savings rate. How to afford?

 

a few of my peers (who are also single and <35 yo) decided to plunge into the private ppty mkt in 2011/12 due to fears of unaffordability in the near future. But they had to max out loans, risking over-leveraging themselves, hoping for job stability (but in the face of a gloomy global economy??) and low interest rates. I have no wish to expose myself to that risk.

 

IMO they will not allow singles to buy BTOs as that is inflationary in nature. Might be hard to swallow. They wld rather "encourage" guys n gals to plunge into rushed marriages and risk runaway brides (reference the other thread on runaway brides)

 

I hope to be able to afford a place i can call "home" in Johor/msia before prices there escalate to dizzying heights too. Seems the state of johor is alrdy looking into foreign demand pushing up prices... pricing locals out of the mkt. Maybe have to look further north...

 

Same same bro. Last year they announced a BTO for singles scheme is under review but since then no news about it.