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Private Property prices......still up or down? Part II

RadX

By RadX,
in Property Buzz

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therock

therock

Supersonic

U have to pay upfront 12% then wait for govt refund after u sell. So for 1.5 mil, u got 180k upfront cash to park with govt?

It's a huge sum of money just to be taken away when u need to fulfill deposit requirement etc.

 

I'm in this quandary now. Its a no brainer, u need to sell first before buying.

 

It cuts into the ammunition folks have to spend.. but it doesn't affect those flush with cash from the en bloc sales.. not very fair.. they benefit since the prices may go down, and they don't take loans..

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Sadan

Sadan

6th Gear
(edited)

Do take note other than the increase ABSD, the Loan-to-Value will also drop from 80% to 75% after midnight for the 1st housing loan.

Edited by Sadan
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Lala81

Lala81

Hypersonic

Can. Your agt can do magic I think. If cannot I do for u ð¤£

If I remember correctly, once you sell your OTP for selling, you can sign your buying OTP w/o paying ABSD. Do check with ur agt.

Yup that's my understanding as well. So have to do concurrently...

Not sure if anyone realised this..

 

Probably a partial move by govt to discourage hdb owners from holding on to both hdb and getting private.

 

Its likely hdb will see more owners selling off their flats to decouple and get 2 condos instead. May see upward pressure for smaller private units in future and slight downward pressure for bigger hdb units.

Imo, the 7 percent absd already took care of that. Now its just the final nail.
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Sadan

Sadan

6th Gear

Yup that's my understanding as well. So have to do concurrently...

Imo, the 7 percent absd already took care of that. Now its just the final nail.

Yup.. if not alot of cash/CPF will be involved
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therock

therock

Supersonic

This current initiative by the government has far more implications on the property market than previous moves..

There will be plenty to analyse in days to come.. 

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LPPL

LPPL

6th Gear
(edited)

All the huaters caught in the balls by the latest measure lol

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LPPL

LPPL

6th Gear

If only people knew how much the government is paying civil servants. I am not even talking about the PAP ministers/MPs.

 

Really is Govt Huat ah.. there is a huge imbalance now

You referring to those jiak liao bi permanent secretaries? They are taking the lead to fight corruption by overpaying themselves first... lol
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Ignissport

Ignissport

4th Gear

Thats why we have what they call a world class government..all the best brains working to make this a truly wonderful country for all... ESPECIALLY THE RICH WHO SEEM TO BE GETTING RICHER......

Just look at the massive ques at showroom tonite you know who many rich people there are buy property like buying underwear no need to think one...

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Sturtles

Sturtles

6th Gear

All the huaters caught in the balls by the latest measure lol

 

 

Bro, huaters already bought without or with lower ABSD rates, and continue to huat with rental income.

 

There may be short term price correction, but in the long term, will prices continue to stay low? If not, they also continue to huat.

 

Those loosing out are marginal owners, and those who want to enter, but was undecided.

 

Their balls are nicely caught out

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No_worries

No_worries

6th Gear

Do take note other than the increase ABSD, the Loan-to-Value will also drop from 80% to 75% after midnight for the 1st housing loan. ð

May affect EC prices too. For a 1million EC, the amount of down payment goes up from 200k to 250k in one night. For first time EC buyers, may need papa and mama to help on down payment , same goes for HDB flats bought on bank loans too.
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Sdf4786k

Sdf4786k

Twincharged
(edited)

Procrastinators already missed few boats, one during the downturn when psf cheaper, now another when absd tax was lower.

"Why increase?" As mention always, ahgong happy to collect more taxes. COE keep dropping which means less taxes collected, have to find another ave to cover? ;) [laugh]

 

LOL ... now the absd tax(12%) even higher than the 15Q downturn (11.6%) total!

With high GLS/Enbloc bids/high new launch sell psf, and now with even higher absd, it just got even more expensive to buy.

 

So congrats to those not sold/stay vested with properties no absd/lower absd [thumbsup]

For those who sold/not vested wanna get back in the game ... not so good news, keep waiting! [:p]

 

Huat ah!

 

I suppose if it keeps going up, you will really be buying pigeon holes instead of mickey mouse HDB flats in future.

 

That and the fact that the earning capacity of the middle income ( dont know what range is middle income ) will cause a huge financial impact to the family if there are job losses.

 

Banks may be affected by huge borrowings and subjected to risk as well from the borrowing.

 

At this point in time, many repeated broadcast of enbloc, shifting goal post of norm of PSF. (heard its 1700psf) and the slow climb of Year on year increase has caused some to take a look at how to get that second/ third or even 4th property.

 

It has always been to secure the passive income now rather than later. So a couple may buy one each. Stay in one and rent out the second when they are retired. Else even on a worst case, rent out the bigger unit and stay in a smaller 1200 sqft unit.

 

The 3rd and f4th unit, in essence, is supposed to be gifted to the kid when they pass on.

 

 

Edited by Sdf4786k
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Wind30

Wind30

Turbocharged
(edited)

Bro, huaters already bought without or with lower ABSD rates, and continue to huat with rental income.

 

There may be short term price correction, but in the long term, will prices continue to stay low? If not, they also continue to huat.

 

Those loosing out are marginal owners, and those who want to enter, but was undecided.

 

Their balls are nicely caught out

Interest rates might go up.... I think fed is steadily increasing their rate for some time. Has our interest rate followed ? Not sure how Singapore rates is decided

 

Did rentals move up in the recent run up in property prices?

 

Whatever it is I am just happy that the government acted. Esp on the 5% targeted at Developers buying enbloc. I think enbloc is the problem. They really need to review the enbloc policies.

Edited by Wind30
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Ash2017

Ash2017

Twincharged

Bro, huaters already bought without or with lower ABSD rates, and continue to huat with rental income.

 

There may be short term price correction, but in the long term, will prices continue to stay low? If not, they also continue to huat.

 

Those loosing out are marginal owners, and those who want to enter, but was undecided.

 

Their balls are nicely caught out

 

 

sex discriminator spotted

 

what about those without balls

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Sturtles

Sturtles

6th Gear

Interest rates might go up.... I think fed is steadily increasing their rate for some time. Has our interest rate followed ? Not sure how Singapore rates is decided

 

Did rentals move up in the recent run up in property prices?

 

Whatever it is I am just happy that the government acted. Esp on the 5% targeted at Developers buying enbloc. I think enbloc is the problem. They really need to review the enbloc policies.

 

 

Nice bro, I personally do not dislike the new monetary measures.

 

On the contrary, it helps to keep our property prices sane for new entrants, provided they can cough out the 25+4 % cash for the new purchase.

 

Enbloc helps in urban renewal, so if the market conditions makes sense to do so, why penalise developers for it?

 

They are doing a public favour...

 

Perhaps the disagreement and ill will stems from the 80% majority force selling the 20% minority's home.

 

A simple change in law will benefit everyone, instead of a 5% tax on developers 

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Wt_know

Wt_know

Supersonic
(edited)

every single headline today is ABSD here there everywhere

all the simi expert and analyst said ah gong did well to avoid a "major correction" ... so ah gong don't want correction?

 

last time ask ah gong to control hdb price

then give all kind of simi excuse that let market decide

now don't want market decide for property price?

 

thanks all for ABSD nation building fund ... can cut GST or income tax? [sly]

 

Edited by Wt_know
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RadX

RadX

Moderator
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i would say these are to curb the en bloc buyers as they would be flushed with cash and coming into the system.

 

Furthermore, the cash will be in 1-1.5 yrs down the road.  Put brakes a little first

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therock

therock

Supersonic

Actually as these en bloc buyers are flushed with cash, they happily go on shopping.

Since it’s their first home, the tax doesn’t hit them.

No need for loans and they are happy to see prices go down after things cool ..

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