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Why cant SG learn from taiwan over Foreigners buying house.


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Why Taiwan can protect its people by not selling flats to foreigner we can't? All the taiwan 原住民 who own land or houses are exploit by foreigner who buy their land for cheap till government intervene and passes a law saying that no foreigner are allow to buy those land which they owned. what about us here. PR or foreigner can simply buy and sell for profits. See the article below for buying house in Taiwan.

 

 

Foreign nationals, who are resident in Taiwan and hold an Alien Registration Card, are allowed to buy residential property in Taiwan, but only if Taiwan nationals are also entitled to buy property in the foreign national's home country, according to the "reciprocity rule". They are required to apply to the Ministry of Economic Affairs for approval of the intended purchase.

Foreigners are not generally allowed to buy and sell property in Taiwan for profit, only for personal use or investment purposes. Individuals are usually only allowed to buy one piece of real estate.

 

House prices in Taiwan have recently been increasing steadily, and in the third quarter of 2006, the average price of a residential home was TWD5.88 million (approximately US$181,000). Although this is not as high as in many western countries, prices are higher in Taiwan relative to average income. Prices are not expected to increase rapidly in the near future as there is a glut of properties on the market. Around 87% of Taiwan's population already own their own home.

 

Foreign non-residents are subject to 20% tax on their gross income from sub-letting property in Taiwan, as well as an annual house tax of 1.38% of the current value of the property. Capital gains are subject to a tax rate of 20%. Under the Land Act (amended 2001), annual rents from residential property must be limited to 10% of the value of the property.

A change in ownership of property must be registered with the local Land Registration Office.

 

 

this 3 clause i sure will make them rich arse thinking about buying and loan and earning from our land.

 

20% tax on their gross income from sub-letting property in Taiwan, as well as an annual house tax of 1.38% of the current value of the property. Capital gains are subject to a tax rate of 20%

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(edited)

if spore follow taiwan rules ... high network individuals will not come to spore la

you know how much moolah like rich FT facebook saverin brings into spore?

and how many saverins come to spore?

high gdp = attract foreign investments in all corners (left/right/top/bottom)

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.

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it's the other way round bro. if you watch taiwan talk-show, they are joking to send all politicians to spore to learn how to run a country like MNC ... huat ah!

Edited by Wt_know
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Turbocharged
(edited)

because singaporean like to sell to foreigner.. they are the one who are willing to pay high price.

BTW, singapore also dont sell land to foreigner, only on appeal and their land cannot be pass down to their children when they pass away

Edited by Joseph22
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can talk until the cows come home...

Yeah lor, if property prices keep going down as the lease runs lesser, people will also comprain why our property never go up unlike HK? :blink:

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Yeah lor, if property prices keep going down as the lease runs lesser, people will also comprain why our property never go up unlike HK? :blink:

 

tats y not tat im advocating being a quitter or wat.....the master plan for sg is clear and its not possible to reverse that decision now.

 

so one either have to ride on it and plan accordingly or give up and move abroad. i hv many frens living overseas and some of them do miss sg, but i always tell them the sg when u left 5yrs ago is not the same as the one now.

 

but tis is life in an urban society. the me first mentality....

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Why Taiwan can protect its people by not selling flats to foreigner we can't? All the taiwan 原住民 who own land or houses are exploit by foreigner who buy their land for cheap till government intervene and passes a law saying that no foreigner are allow to buy those land which they owned. what about us here. PR or foreigner can simply buy and sell for profits. See the article below for buying house in Taiwan.

 

 

Foreign nationals, who are resident in Taiwan and hold an Alien Registration Card, are allowed to buy residential property in Taiwan, but only if Taiwan nationals are also entitled to buy property in the foreign national's home country, according to the "reciprocity rule". They are required to apply to the Ministry of Economic Affairs for approval of the intended purchase.

Foreigners are not generally allowed to buy and sell property in Taiwan for profit, only for personal use or investment purposes. Individuals are usually only allowed to buy one piece of real estate.

 

House prices in Taiwan have recently been increasing steadily, and in the third quarter of 2006, the average price of a residential home was TWD5.88 million (approximately US$181,000). Although this is not as high as in many western countries, prices are higher in Taiwan relative to average income. Prices are not expected to increase rapidly in the near future as there is a glut of properties on the market. Around 87% of Taiwan's population already own their own home.

 

Foreign non-residents are subject to 20% tax on their gross income from sub-letting property in Taiwan, as well as an annual house tax of 1.38% of the current value of the property. Capital gains are subject to a tax rate of 20%. Under the Land Act (amended 2001), annual rents from residential property must be limited to 10% of the value of the property.

A change in ownership of property must be registered with the local Land Registration Off

 

 

this 3 clause i sure will make them rich arse thinking about buying and loan and earning from our land.

 

20% tax on their gross income from sub-letting property in Taiwan, as well as an annual house tax of 1.38% of the current value of the property. Capital gains are subject to a tax rate of 20%

 

 

 

WE cannot kill this golden goose system lah.....otherwise how to command millions of salary per annum...

 

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Dr M tried to implement heavy taxation for foreigners buying houses in Malaysia in the mid 90s. I think they eventually had to scrapped it cos very few investors wanted to come. Amongst other factors, the housing issue was one of them.

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If Singapore was a profession, its equivalent would be a prostitute. [:p]

at least prostitute have honour! :ph34r::ph34r: and they worked hard to service everyone of their clientele! [laugh][laugh]

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Basically SG needs capital gain tax and also a law for PRs or FTs to sell only to Citizens. If the Citizen Goondu buy high price, no medicine to cure loh...

Of course there is a loophole... they can soompa become citizen and then sell to Foreigners and renounce citizenship...

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they always take the easier way out... if dun wan to tink much for more better solutions, dan pay them millions for wat???!!! Crap...

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