Ronleo 6th Gear September 4, 2013 Share September 4, 2013 Before the announcement, the mkt is already moderating due to lower loan ratio as well as higher subsidies and a much higher asking price. Already hdb is sold 5-10% higher than last year, so the 0 COV just means that the prices as stablised. I believe that 3yr restriction does not has much effect as much effect on the resale mkt as the other 2. Whether or not prices supply has caught up with demand, will depend on the next 3 mths. Likely HDB will fall to a more reasonable level. i.e. 700psm for mature/central area and 500psm for ORC areas. And demand for resale flat will be lesser. Already a few of my single friends are talking abt holding back their purchase and wait for the price to go down before they enter the mkt. Tks for the info. So wat u saying is tat if things goes as per plan, u should see a Dip of ard 12-16% off the current resale price? Btw, if really 700psM, confirm chope I buy the whole floor! ↡ Advertisement Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 4, 2013 Share September 4, 2013 Next time , rolex singapore need model, can find him yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah yah Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 4, 2013 Share September 4, 2013 Tks for the info. So wat u saying is tat if things goes as per plan, u should see a Dip of ard 12-16% off the current resale price? Btw, if really 700psM, confirm chope I buy the whole floor! even if $700psm, you also cant chope whole floor lah , you TPS !!! Link to post Share on other sites More sharing options...
Ronleo 6th Gear September 4, 2013 Share September 4, 2013 even if $700psm, you also cant chope whole floor lah , you TPS !!! Erm... The glare on your watch blinding your view liao... Pass to me, I safeguard for u... Read 700psM, not 700psF... SK average 4 rm flat 93sqm, 1 floor ard 6 units ( $700x93)x6= $390,600. Confirm can afford! Full cash! Anyway, wishful thinking... Back to topic! Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 4, 2013 Share September 4, 2013 (edited) Erm... The glare on your watch blinding your view liao... Pass to me, I safeguard for u... Read 700psM, not 700psF... SK average 4 rm flat 93sqm, 1 floor ard 6 units ( $700x93)x6= $390,600. Confirm can afford! Full cash! Anyway, wishful thinking... Back to topic! not about affording. i think my watch glare blinded you. HDB can buy whole floor meh?? since when? Muayhahahahahaah Edited September 4, 2013 by Throttle2 Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 5, 2013 Share September 5, 2013 Link to post Share on other sites More sharing options...
Altivo 3rd Gear September 5, 2013 Share September 5, 2013 Here it is [sINGAPORE] The Monetary Authority of Singapore says it will keep an eye on "credit practices of FIs (financial institutions) and data trends", and assess if last week's tenure reduction for bank loans for HDB flats should be extended to private home loans. On Aug 27, MAS trimmed the maximum tenure of new home loans for the purchase of HDB flats and refinancing of such facilities granted by FIs, from 35 years to 30 years. At the same time, tighter loan-to-value (LTV) limits which previously applied to new loans with tenures exceeding 30 years now apply to loans of more than 25 years. When asked if MAS plans to extend these to private housing mortgages, its spokesman said that it will "continue to monitor the credit practices of FIs and data trends, and assess if tenure reduction should be extended to loans for the purchase of private properties". Market watchers reckon a key data trend MAS would be tracking is whether loan tenures for private homes have been creeping up towards the maximum 35 years allowed currently. Such a trend would raise the impetus for MAS to extend the loan tenure cut to the private housing sector. However, BT understands the reverse situation has surfaced as borrowers would rather seek shorter-tenure loans than suffer a significantly lower LTV limit - by 20 percentage points - for new private home loans exceeding 30 years or where the loan period extends beyond the borrower's retirement age of 65 years. A banking industry source estimates that the January property cooling measures led to a 20-30 per cent drop in the number of private home loans approved by banks between the first and second quarters of this year. "The introduction of the Total Debt Servicing Ratio (TDSR) in late-June has led to a further decline. "We've also noticed that developers have been launching new private residential projects at prices lower than what they had earlier aimed for, before TDSR was announced. So you may say that the cooling measures/TDSR have been effective," added the source. Ong Choon Fah, chief operating officer, South-east Asia, at property consulting group DTZ, notes that property market activity has "already dropped a lot since TDSR was implemented". "And with the ongoing flow of funds out of the region, markets such as equities and currencies are very volatile. The authorities will want to ensure that we are robust enough to ride through this. They'll watch very carefully before implementing any further measures affecting the property market," she added. On Aug 27, the government announced that new loans granted by FIs for the purchase of HDB flats with tenures exceeding 25 years or where the loan period extends beyond the borrower's 65-year retirement age are subject to tighter LTV limits. Where a borrower has no outstanding housing loan, the applicable LTV limit will be 60 per cent, instead of 80 per cent. Where the borrower has one outstanding housing loan, the LTV limit will be 30 per cent, instead of 50 per cent. And if the borrower has two or more outstanding housing loans, the LTV limit will be 20 per cent, instead of 40 per cent. At present, these tighter LTV limits also apply to new loans for the purchase of private homes but only where the loan tenure exceeds 30 years or stretches past the borrower's retirement age. Currently the maximum tenure allowed for private home loans (both new loans and refinancing cases) is 35 years. BT understands that private home buyers have been seeking shorter-tenure loans since last October, when the authorities introduced the 35-year maximum loan tenure for all residential property loans and lowered the LTV ratio on new housing loans if their tenure exceeds 30 years or the loan period stretches past the borrower's 65-year retirement age. "Anecdotally, customers are maximising LTV instead of maximising tenure. A borrower that does not have any outstanding home mortgage qualifies for up to 80 per cent LTV for a private home purchase if the loan tenure is up to 30 years, but a lower 60 per cent LTV for a loan of more than 30 years. To a borrower, this 20-point difference in LTV is more significant than being able to enjoy additional years in the duration of the private home loan," noted a financial industry player. The trend of borrowers preferring shorter loan tenures for private home purchases is said to have gained momentum following the January cooling package, which further tightened LTV limits on individual borrowers with at least one outstanding home loan. At the same time, the minimum cash downpayment for this group was raised from 10 per cent to 25 per cent. Link to post Share on other sites More sharing options...
Staff69 Hypersonic September 5, 2013 Share September 5, 2013 How will affect bto loan or not Link to post Share on other sites More sharing options...
Takumi21 2nd Gear September 5, 2013 Share September 5, 2013 HDB issues a new rule issued on the 27th Aug 2013 and effective on the 28th Aug 2013. Under this new rule, Singapore Permanent residents who will need to wait 3 years before they can purchase a HDB. This will be welcome news for most young Singaporean couples as less competition will mean more controlled prices. In line with the government Link to post Share on other sites More sharing options...
Wt_know Hypersonic September 5, 2013 Share September 5, 2013 (edited) MSR of 30% + 25 years loan tenure is to stop people to take advantage of the cheap BTO and extra grants to buy bigger flats TDSR of 60% is a blanket rule to financial prudence A couple cannot even borrow $480,000 for HDB but they can borrow $800,000 for Private property or Executive Condominium. How is financial prudence served this way? Edited September 5, 2013 by Wt_know Link to post Share on other sites More sharing options...
Enye Hypersonic September 5, 2013 Share September 5, 2013 Erm... The glare on your watch blinding your view liao... Pass to me, I safeguard for u... Read 700psM, not 700psF... SK average 4 rm flat 93sqm, 1 floor ard 6 units ( $700x93)x6= $390,600. Confirm can afford! Full cash! Anyway, wishful thinking... Back to topic! $400K full cash are u sabbie? Link to post Share on other sites More sharing options...
Ronleo 6th Gear September 5, 2013 Share September 5, 2013 $400K full cash are u sabbie? Heard of this name before... Nope, I am not sabbie. Some of the guys here call me Nicole. Link to post Share on other sites More sharing options...
BlueOldMan 1st Gear September 5, 2013 Share September 5, 2013 $400K full cash are u sabbie? 400 cash tio sabbie? Then MCF alot sabbie lo My fren Ron cfm not sabbie hor, he's not my type de Nicole la But got a darling ger staff69, that pple call him sabbie You see he sabbie or sadist ok Link to post Share on other sites More sharing options...
BlueOldMan 1st Gear September 5, 2013 Share September 5, 2013 How will affect bto loan or not When your time comes, you may need to buy COE before you get your BTO Liao Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 8, 2013 Share September 8, 2013 Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 8, 2013 Share September 8, 2013 HDB good lah, no need condo Link to post Share on other sites More sharing options...
Jp66 5th Gear September 8, 2013 Share September 8, 2013 HDB good lah, no need condo agree. some new hdb's landscape is better than condo Link to post Share on other sites More sharing options...
Latio2005A Turbocharged September 8, 2013 Share September 8, 2013 agree. some new hdb's landscape is better than condo ya, and with all the tacky fancy names to boot! ↡ Advertisement Link to post Share on other sites More sharing options...
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