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MAS Restricts Loan Tenure for Residential Properties

Duckduck

By Duckduck,
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Fourth

Fourth

2nd Gear

This rule favours the rich and foreigners who do not depend much on loans. The rich will become richer.

 

Those with existing homes will be reluctant to sell their homes if the new new purchases will mean much higher installments. So with resale supply drying up how on earth will this CM reduce prices? It may just have the opposite impact while widening the gap between the rich & middle income

 

The objective is to stem possible housing bubble, not to let property price drop. No garmen wants to let property prices to drop.

 

Agree that it will widen the gap.

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Brendon1980

Brendon1980

Neutral Newbie

Unless our income can keep pace with the increasing rising property prices, if not prices will tumble in time to come, just waiting to see who is the last in queue.

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Wind30

Wind30

Turbocharged

Live and spend within your means instead of trying to keep up with the Joneses...

 

ya lor. I thought the policy is pretty good.

 

It WILL NOT affect younger generation as they still can take 30 year loans. I really don't see the point of having more than 30 year loans.... if you need more than 30 years you should buy something cheaper.

 

This new policy will help everyone to live within their means. It will also stop a 45 year old from getting a 30 year old loan....

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Jasonjst

Jasonjst

3rd Gear

I think this is a fair move by MAS.

 

Banks should have kept it to 30 years in anycase.

 

What a fark type of cooling measure? More like driving the poor (who need to longer term to pay our expensive HDB) onto the streets.

These kind of cooling measure where got effect on the rich and FTs? News paper / agents will tell you cash rich PRC come with cash to buy up properties, they cant be border to take loan!

Tell me how does 100K COE effect the rich when these people are buying AUDI and BMs . While the poor can even afford to buy a QQ even if you give him a free COE . :angry:

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Icedbs

Icedbs

Turbocharged

IMO, this rule will somehow make shoebox-small apartments appreciate even more!

 

First, they curb the supply of shoeboxes. Now, with this loan ruling, more buyers will go for lower quantum flats so that the loan is more affordable.

 

Both pointing towards increase demand for shoebox-small apartments.

 

If I have $$$ now, I will quickly grab a shoebox and sit it out.

 

 

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Icedbs

Icedbs

Turbocharged

What a fark type of cooling measure? More like driving the poor (who need to longer term to pay our expensive HDB) onto the streets.

These kind of cooling measure where got effect on the rich and FTs? News paper / agents will tell you cash rich PRC come with cash to buy up properties, they cant be border to take loan!

Tell me how does 100K COE effect the rich when these people are buying AUDI and BMs . While the poor can even afford to buy a QQ even if you give him a free COE . :angry:

 

With US printing money non stop, there is no way you can prevent rich FTs from putting their money here. Singapore, like Swiss, is considered as a "safe haven" for investors.

 

MAS can only protect as much as possible, preferably the middle class. This measure help our middle class locals from over-investing into properties.

 

Yes, maybe some of our locals cannot buy that "upgrade" that they wanted now. But perhaps one day they will be thankful that they didn't buy it after all.

 

 

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Felipe

Felipe

3rd Gear

The best cooling measure would be to restrict number of FT coming in. Confirm property price cool. Govt just try to make it look cool, but it ain't cool, we all know. Lucky election still another 4 years to go.

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Icedbs

Icedbs

Turbocharged

The best cooling measure would be to restrict number of FT coming in. Confirm property price cool. Govt just try to make it look cool, but it ain't cool, we all know. Lucky election still another 4 years to go.

 

They can buy from overseas. They don't have to come in.

 

 

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Jasonjst

Jasonjst

3rd Gear
(edited)

With US printing money non stop, there is no way you can prevent rich FTs from putting their money here. Singapore, like Swiss, is considered as a "safe haven" for investors.

 

MAS can only protect as much as possible, preferably the middle class. This measure help our middle class locals from over-investing into properties.

 

Yes, maybe some of our locals cannot buy that "upgrade" that they wanted now. But perhaps one day they will be thankful that they didn't buy it after all.

 

Precisely, you should make these rich FTs pay thru the roof if their sole intention is to speculate and park money here! Why prevent poor from acquiring a simple HDB. 1rm to 3rm HDB should be exempted .

In Malaysia the poor citizen don

Edited by Jasonjst
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Icedbs

Icedbs

Turbocharged

Precisely, you should make these rich FTs pay thru the roof if their sole intention is to speculate and park money here! Why prevent poor from acquiring a simple HDB. 1rm to 3rm HDB should be exempted .

In Malaysia the poor citizen don

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Jasonjst

Jasonjst

3rd Gear

I don't think first timer to HDB will be impacted. Assuming most of those in this group is below 30 years old, they can still stretch the loan all the way to 35 years.

 

Now a day got lots of old widows and ah pek SINGLEs above 35 buying BTO [laugh]

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Icedbs

Icedbs

Turbocharged
(edited)

Now a day got lots of old widows and ah pek SINGLEs above 35 buying BTO [laugh]

 

If they are single, how can they buy BTO? They can only buy resale.

Edited by Icedbs
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Twinturbo

Twinturbo

Neutral Newbie

Hdb and condo not only meant for 1st time buyers. The honest middle income upgraders now cannot give family better place to stay. Worse still existing people >40 yrs old with only home maybe cannot refinance or else must top up. This targeting wrong people. Good only for rich. If truly all rich FTs still come in to buy, then middle class singaporeans can kiss their dreams good bye forever.

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Jasonjst

Jasonjst

3rd Gear

If they are single, how can they buy BTO? They can only buy resale.

 

I see, buying resale lagi jialat , need high COV , need longer loan as not un common for 3rm going for abv 500K . [:p]

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