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Singapore Property Scene Discussion

therock

By therock,
in Property Buzz

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Victor68

Victor68

Turbocharged
(edited)

When you have high sale in every new launch and new high, it seems perfect sure win investment. Just like every ah soh buy shares instead of ging to market buy vegetables. All about quantum regardless what, put in min all you got and turn around big profit. I really don't know leh.

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therock

therock

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https://www.straitstimes.com/singapore/courts-crime/property-agents-buyers-jailed-for-evading-69000-in-stamp-duty-by-backdating

Jail... don't play play

SINGAPORE - In the first case of its kind, two property agents and the buyers of a condominium unit were sentenced to jail on Friday (Sept 24) for backdating an option to purchase (OTP) to avoid paying higher additional buyer's stamp duty (ABSD).

The buyers - Daniel Halim and Lee Liu Ying, both aged 44 - were sentenced to six weeks' jail each. The married couple was also ordered to pay a penalty of $276,000 - four times the amount of ABSD evaded.

Their property agent Mu Shen, 50 and the seller's agent Loy Thye Wei, 44, were each handed eight weeks' jail.

All four pleaded guilty to their offences earlier this year.

In sentencing them, district judge Lorraine Ho said: "This is the first case, whether reported or otherwise, where an accused has been charged for intentionally evading the payment of stamp duty."

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Eyke

Eyke

Supercharged
21 minutes ago, therock said:

https://www.straitstimes.com/singapore/courts-crime/property-agents-buyers-jailed-for-evading-69000-in-stamp-duty-by-backdating

Jail... don't play play

SINGAPORE - In the first case of its kind, two property agents and the buyers of a condominium unit were sentenced to jail on Friday (Sept 24) for backdating an option to purchase (OTP) to avoid paying higher additional buyer's stamp duty (ABSD).

The buyers - Daniel Halim and Lee Liu Ying, both aged 44 - were sentenced to six weeks' jail each. The married couple was also ordered to pay a penalty of $276,000 - four times the amount of ABSD evaded.

Their property agent Mu Shen, 50 and the seller's agent Loy Thye Wei, 44, were each handed eight weeks' jail.

All four pleaded guilty to their offences earlier this year.

In sentencing them, district judge Lorraine Ho said: "This is the first case, whether reported or otherwise, where an accused has been charged for intentionally evading the payment of stamp duty."

try and jiak ah gong's marnee some more lah 😄

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t0y0ta

t0y0ta

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35 minutes ago, therock said:

The beauty of HDB from a foreign viewpoint:

 

Malaysia has many many other advantages over little red dot that is not mentioned.

To each their own.

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therock

therock

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Our own Evergrande:

https://www.straitstimes.com/business/property/greatearth-construction-wound-up-with-at-least-70m-debt

 

Quote

SINGAPORE - Several hundred creditors are owed at least $70 million by beleaguered building firm Greatearth Construction, which together with Greatearth Corporation, was wound up on Monday afternoon (Sept 27) because they were unable to continue doing business due to their liabilities. 

This $70 million debt figure does not include anticipated liabilities from the construction projects that could not be completed by Greatearth, which include two public projects, as well as five Build-To-Order (BTO) housing projects comprising a total of 2,982 units, The Straits Times understands.

Greatearth Corporation and Greatearth Construction were the main contractors for Sky Vista @ Bukit Batok, Senja Heights and Senja Ridges in Bukit Panjang, Marsiling Grove in Woodlands and West Coast Parkview in Clementi.

Work at the five projects ground to a halt last month after Greatearth told HDB that it was unable to complete the projects despite government assistance given. Two public projects could be held up as well.

Earlier this month, winding-up proceedings began for Greatearth Corporation, Greatearth Construction and three related companies. Several sub-contractors are now staring at sizeable losses on unpaid fees by Greatearth, while more than 2,900 home buyers are facing long delays.

ST understands that negotiations are taking place on whether some of the unfinished projects can be novated, instead of terminated to minimise delays to their completion. Novation refers to the process where another contractor will step into Greatearth's shoes to complete the projects.

 

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Wt_know

Wt_know

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(edited)

wah .... means no $500K no talk liao ... 

demand > supply 

waiting time goes up

material cost goes up

labour cost goes up

land cost goes up

inflation goes up

construction company likelihood up lorry also goes up [sweatdrop] 

up up and away ... 

Edited by Wt_know
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Throttle2

Throttle2

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21 hours ago, therock said:

https://www.channelnewsasia.com/singapore/hdb-bto-delay-punggol-waterway-sunrise-2-compensate-2232461

 

Compensation... actually I'll suggest vouchers for renovations - help stimulate the economy.. or even electronics store vouchers...

Shiok lah, buy BTO also can get money before getting the BTO.  Yeah! 
Singapore Lang , wan sui!

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Throttle2

Throttle2

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(edited)
On 10/5/2021 at 1:36 PM, Wt_know said:

wah .... means no $500K no talk liao ... 

demand > supply 

waiting time goes up

material cost goes up

labour cost goes up

land cost goes up

inflation goes up

construction company likelihood up lorry also goes up [sweatdrop] 

up up and away ... 

 

they just pass on to buyers right?

this means Banks song song, people must borrow more for longer.      Huat ah!   
 

a guy i know bought an old house not so far from mine.  Building state is trash so basically land only for $3mil.  Already 1 yr liao still cant do any construction.  Many problems resulting from Covid related controls. Cost also inching up for him.  Looks like he may need to buffer 30% more on top of the 30% already buffered and add another 6 mths more on top of the 1 yr construction time.  By then , 2023 already…….   Damn sian man…..

Heng my rebuild completed mid 2019, way before all the shit.  Money is one thing, time and effort is another two.
 


 

 

Edited by Throttle2
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Throttle2

Throttle2

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(edited)

I said it upmteenth times . This time not i say one ah.  Singapore’s biggest bank say one hor..

https://www.todayonline.com/singapore/investing-second-private-property-singapore-yielded-relatively-low-returns-over-past?cid=emarsys-today_TODAY's new morning briefing for Oct 13, 2021 (ACTIVE)_newsletter_13102021_today

Just remember when taking big loan for second property, dont kena retrenched or fired. 🤣😅

TDSR is not to protect you, it is just a bare bones basic to protect the lenders.  😄 
but when you screw up, you screw up…. Muayhahaha

Edited by Throttle2
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