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Qualifying income ceiling will be raised from $8k to $10k


Fattychubby
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Speaking at the National Day Rally, Prime Minister Lee Hsien Loong said that this move was due to young couples' incomes increasing recently.

 

 

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wow, you so efficient and fast.

I will not apply for a new flat.

Price still too high.

Wait for it to drop.

Why not? With gov controlling the prices with the BTO system I don't see flat prices falling as we have seem at the last recession which was 1 of the worse Singapore had faced but flat prices continue to rise? Unless got depression coming but no one knows as no one in Singapore had encountered 1 before.

Edited by Fri13th
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I believe price won't drop cos those who bought high previously will stand to loose out. I dun think they will let that happen. What they will do is let the price become stagnant for a while before it starts to creep upwards.

 

If you are waiting for price to drop dan you have to wait for some global economic crisis to hit(eg like in '97/'98) dan the price will drop drastically. If you have the money to buy that will be the best time. But dan a lot of ppl will lose their job during a crisis and won't commit into buying a flat.

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Huh huh, my current 4 room fully paid up.

 

It is not a need to buy for me.

 

Rather keep my hard earn CPF in my account rather then enslave it to bank.

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it will not drop for sure. If the govt wants it to drop, they will not raise the ceiling to 10k. IMO, by raising to 10k, they will allow more ppl to buy the flats AT THE HIGH PRICE THEY ARE CURRENTLY SELLING. If the BTO price remains high, there is no way resale market price to drop.

 

Waiting time for BTO=3 years , Resale = 3mths.

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Turbocharged

wow, you so efficient and fast.

I will not apply for a new flat.

Price still too high.

Wait for it to drop.

They just invited partof the EC crowd to come compete with the <8k crowd. You think it will drop??

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Dun tink will drop. Maybe stagnant.

 

US still keeping interest rate near to zero for next two years and the additional demand from those newly qualified applicants in the 8-10K category will add nicely to the equation.

 

Private suburbs mass condo however is another thing altogether.

 

 

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Huh huh, my current 4 room fully paid up.

 

It is not a need to buy for me.

 

Rather keep my hard earn CPF in my account rather then enslave it to bank.

Ooh ok I thought u got no flat yet...anyway Cpf also cannot touch until 1 leg in coffin use for housing ok mar...

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with the increase, all the prices of new ec and dbss, which are available in the 1st hand market now, will not drop. in fact, will maintain or even increase! :huh:

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Income ceiling raised = more ppl can afford to pay more for resale HDB = price increase somemore.....

 

 

There is no income ceiling unless you are applying for CPF Housing Grant and/or an HDB Loan.

 

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also include ec: http://www.channelnewsasia.com/stories/sin...1146987/1/.html

 

SINGAPORE: The government will raise the qualifying income ceilings of households for HDB's Build-To-Order (BTO) flats and Executive Condos (EC), said Prime Minister Lee Hsien Loong in his National Day Rally speech on Sunday evening.

 

The qualifying income ceilings of households for BTO flats will be increased from the current S$8,000 to S$10,000, and for ECs from the current S$10,000 to S$12,000.

 

Prime Minister Lee said HDB will also build another 25,000 BTO flats next year to meet demand and keep prices of new flats stable and affordable.

 

The government will also be adding 7,000 rental units over the next two years and postponing demolition of some SERS blocks to be used as temporary rental units.

 

Mr Lee said the moves will ease the waiting time for needy Singaporeans who require rental flats.

 

The prime minister also made the commitment to keep housing available and affordable for Singaporeans.

 

- CNA/al

Edited by Mustank
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Some estimated the USD to SGD exchange rate will remain at 1.2 range for the next 2 years.

 

If they dive, it may be even lower than that?

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