Greatbirdlegend 1st Gear January 14, 2011 Share January 14, 2011 The newest attempt to cool the property market and stop short term speculation. From what I understand - Loan to Valuation lowered to 60%, 40% cash or CPF. Seller stamp duty raised to 16% on the 1st year sale, 12%, 8% and then 4% on subsequent years. Pretty big changes in the short term. http://www.mnd.gov.sg/newsroom/newsrelease...ews13012011.htm ↡ Advertisement Link to post Share on other sites More sharing options...
Sgnick 1st Gear January 14, 2011 Share January 14, 2011 Hope this forces the new property launches to lower their selling price.....significantly. Link to post Share on other sites More sharing options...
V200 Neutral Newbie January 14, 2011 Share January 14, 2011 The middle class or sandwiched class will suffer. Link to post Share on other sites More sharing options...
Jman888 Moderator January 14, 2011 Share January 14, 2011 The middle class or sandwiched class will suffer. Why leh? Link to post Share on other sites More sharing options...
Unfair 3rd Gear January 14, 2011 Share January 14, 2011 Why leh? The rich people can afford the 40% cash. Especially so many middle class pple priced out. I know of such people that can buy 7 units of a condo for flipping.... The middle class people cannot afford the 40%, thus they will not be able to earn from property... Likely never to become rich this way. As usual, MIW loves the elite and hates the rest of us. Link to post Share on other sites More sharing options...
Mydotcom 1st Gear January 14, 2011 Share January 14, 2011 The middle class or sandwiched class will suffer. yah... Link to post Share on other sites More sharing options...
Sgnick 1st Gear January 14, 2011 Share January 14, 2011 (edited) This new rule don't affect genuine upgraders, only affect people who buys additional properties, or people who wants to buy and make quick sale for profit. For the middle class who wants to invest in additional properties, faster finish pay off their existing loan lor, then the new loan can be 80%. Or save up enough for the 40% downpay. Edited January 14, 2011 by Sgnick Link to post Share on other sites More sharing options...
Roh96 6th Gear January 14, 2011 Share January 14, 2011 The latest measures should weed out flippers who are looking for quick profit. I think prices will stablize especially private property but i don't think it will crash. The demand for housing is still strong if you look at the take up rate of BTO and EC of recent launch. Those are genuine buyers looking for house to stay and not speculate. Link to post Share on other sites More sharing options...
Yipsy1 Neutral Newbie January 14, 2011 Share January 14, 2011 I remember during those hey days of 1995, long queues were seen in many of the private property launches. The same thing is happening yet again.. humans never learn from history. Property prices have surpassed the 1996 peak. How much upside can there be? Very limited I can assure you. And when property prices drop eventually.. Singaporeans will blame the government for not being proactive in curbing speculation. Damn if you do, damn if you don't. Whiners are everywhere... "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful." - Warren Buffett Link to post Share on other sites More sharing options...
Karu 6th Gear January 14, 2011 Share January 14, 2011 Message is clear... Middle class dun day dream & hope to get rich fast. Be happy with the property u are staying. Link to post Share on other sites More sharing options...
Karu 6th Gear January 14, 2011 Share January 14, 2011 Dun think there are many flippers left after the last cooling measure. So don't think these measures will be very effective. Bulk of the market will be foreigners & up-graders. Let's see how the market will react. Link to post Share on other sites More sharing options...
Sgnick 1st Gear January 14, 2011 Share January 14, 2011 I remember during those hey days of 1995, long queues were seen in many of the private property launches. The same thing is happening yet again.. humans never learn from history. Property prices have surpassed the 1996 peak. How much upside can there be? Very limited I can assure you. And when property prices drop eventually.. Singaporeans will blame the government for not being proactive in curbing speculation. Damn if you do, damn if you don't. Whiners are everywhere... "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful." - Warren Buffett Investors need these people to chase up the property prices before they can sell for big profit. If everyone don't want to buy, price stagnant don't go up don't go down, cannot buy low sell high, earn what? So be thankful got these people, don't call them whiners. Link to post Share on other sites More sharing options...
Trex101 3rd Gear January 14, 2011 Share January 14, 2011 I remember during those hey days of 1995, long queues were seen in many of the private property launches. The same thing is happening yet again.. humans never learn from history. Property prices have surpassed the 1996 peak. How much upside can there be? Very limited I can assure you. And when property prices drop eventually.. Singaporeans will blame the government for not being proactive in curbing speculation. Damn if you do, damn if you don't. Whiners are everywhere... "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful." - Warren Buffett The differences between 1997 crash and now is supply is low and demand high due to massive immigrant influx. Don't think 1997 will happen again, cos the gov has learned from it (restrict supply and boost up demand), that why the massive importation of new immigrant. Link to post Share on other sites More sharing options...
Kyrios Turbocharged January 14, 2011 Share January 14, 2011 Election coming lah..that's why so many changes lately... COE also the same..soon 50% downpayment... Cash is now king..I suspect there will be more people like the gentlemen in the SLA case...$$ pressures....singaporeans will be priced out by the richly paid FTs Link to post Share on other sites More sharing options...
Gearoil 1st Gear January 14, 2011 Share January 14, 2011 Implementing concrete measure to halt or impede certain bad trends on some issue, should not be due to whether election is coming or not. This measure is to stop flipping and those who invest in many properties, in the hope to net higher and higher rental. Those who need housing for own stay are unlikely to be affected much. Those who 'limit their vested interest' in properties for rental is also quite safe. Only those who chiong and are purely speculators are to be slowed down. Gov should also not entirely bear the blame for property speculation or those who are idiots and have a mindest...'buy now or else will increase further'. The best moto is : You buy, you and only you bear the risks and rewards be it ..UP or Down or stay stagnant for years. Link to post Share on other sites More sharing options...
Altivo 3rd Gear January 14, 2011 Share January 14, 2011 Election coming lah..that's why so many changes lately... COE also the same..soon 50% downpayment... Cash is now king..I suspect there will be more people like the gentlemen in the SLA case...$$ pressures....singaporeans will be priced out by the richly paid FTs yup... we're priced out by the rich FTs. The ang moh next to me is renting a B&W bungalow from SLA... monthly rental is 25k! Link to post Share on other sites More sharing options...
Darthrevan Supercharged January 14, 2011 Share January 14, 2011 The message is clear, buy what you can afford and for your own stay, leave the speculation to the rich! Link to post Share on other sites More sharing options...
Freestylers09 5th Gear January 14, 2011 Share January 14, 2011 The rich people can afford the 40% cash. Especially so many middle class pple priced out. I know of such people that can buy 7 units of a condo for flipping.... The middle class people cannot afford the 40%, thus they will not be able to earn from property... Likely never to become rich this way. As usual, MIW loves the elite and hates the rest of us. thats is why pple speculate property and cause the price now not about who can afford or not, it's to control those who try to speculate if talking about HDB, rich pple already not into the picture, i tot they cant hold what 2 housing kind and muz sell 1 of it in recent measures also? anyway condo etc no effect ,if middle class,needless to say to own 1..so leave it to the rich ↡ Advertisement Link to post Share on other sites More sharing options...
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