Singapore Property Scene Discussion

[Ginyu]

43 minutes ago, Showster said:

All we know is you earn your money, buy / sell your Rolex.

Other people have other ways of earning / making / saving money. Whether they can afford it, it’s their business.

If housing is not temporarily supported to tide through Covid for the few who really couldn’t afford (although the support benefits those who could well afford), do you think you have any chance to see positive gains in equities???

You also benefit, although indirectly.

Live and let live.

For those who can well afford it are still eligible for the loan relief. The banks don’t conduct any eligibility assessment.? As for the govt aid support relief; one need to produce ar least 3 months of no income as proof lei.

 

Edited November 18, 2020 by Ginyu

[Mooose]

13 hours ago, therock said:

Bros

Any idea if there is a minimum height for condo / HDB car parks?

Someone I know fell and the the ambulance could not enter so the crew had to push the trolley in, leaving the ambulance at the entrance.. 

 

OR if a car breaks down in a MSCP, and the tow truck can't enter, how do they handle it?

this building requirement may change from time to time so the required min height would depend on the time the building was constructed.

but be assured that whatever the min height was at the time of construction it would have been met because the TOP and CSC would not be issued if it did not.

 

[ToyotaShuttle]

On 11/14/2020 at 8:55 PM, therock said:

Linq is doing well..

FROM 2200 psf... amazing stuff..

Unbelievable. What is the USP for this project? Why so popular? 2200psf doesn't sound cheap for that area right?

On 11/14/2020 at 9:50 PM, Dafansu said:

high sale is one thing, whether can profit is another, good luck to them 😄

Developer already profitted haha.

[ToyotaShuttle]

On 11/15/2020 at 11:50 PM, Wt_know said:

$20 billions nia sup sup water

no $100B no talk!!!

https://www.straitstimes.com/singapore/parliament-9-in-10-applications-to-defer-property-loan-repayments-approved

This is honestly indicative of nothing - anyone who applies will get deferred. I am one of the 26k - I applied to earn the interest rate spread between CPF rate and what the bank is charging me and to improve cashflow.

The stats for the next round of deferments will be more informative because it is only granted to those who can show an impact on their income due to Covid.

[ToyotaShuttle]

11 hours ago, Kopites said:

Sales of balance direct from hdb. 5 rooms. Top 2021 Sept. 

Oh.... it is Malay only so this price might already be discounted?

If chinese can buy, will be worth much more.

[Kopites]

1 hour ago, ToyotaShuttle said:

Oh.... it is Malay only so this price might already be discounted?

If chinese can buy, will be worth much more.

Click chinese it didn't even show any pop up.🤭

Such close to million hdb will be a norm in the not so distance future.

Edited November 18, 2020 by Kopites

[ToyotaShuttle]

16 minutes ago, Kopites said:

Click chinese it didn't even show any pop up.🤭

Such close to million hdb will be a norm in the not so distance future.

The problem is that HDB/URA dropped the ball. Instead of providing affordable housing, they are now profiteering. 

See the BTO availability. The earliest delivery is 2025 with the latest in 2027. Can new couples afford to wait 7 years? Kid go pri school already lo.

[ToyotaShuttle]

3 hours ago, Ginyu said:

For those who can well afford it are still eligible for the loan relief. The banks don’t conduct any eligibility assessment.? As for the govt aid support relief; one need to produce ar least 3 months of no income as proof lei.

 

First round of deferment no need. See how simple the application process is (for OCBC). https://www.ocbc.com/personal-banking/loans/payment-deferment-scheme.page

Quote

 

"This mortgage repayment deferment is granted on an application basis, and MAS has said that lenders will be approving deferment requests “expeditiously” to borrowers who are not in arrears for more than 90 days as at 6 April 2020. There is no need to demonstrate any COVID-19 impact to qualify for deferment." - https://dollarsandsense.sg/need-know-mas-newly-announced-bank-loan-insurance-premium-payment-deferments/

 

2nd round they need to see impact on your income.

Quote

Helping Individuals with Loan Commitments (see Annex A for details)

Reduced Instalment Plans for Property Loans

5   Individuals with residential, commercial and industrial property loans who are unable to resume making full loan repayments may apply to their respective bank or finance company to make reduced instalment payments pegged at 60% of their monthly instalment, for a period of up to 9 months. For most individuals, the 60% reduced monthly instalment will cover interest and partial principal payments. This will ease individuals’ cashflow, while still allowing borrowers to pay down their principal amount.

6   This option is available to individuals who can provide proof of income impact of at least 25%, with property loan payments that are not more than 90 days past due, regardless of whether they have taken up payment reliefs previously. Individuals who meet these criteria can apply for assistance from 9 November 2020 till 30 June 2021. Individuals who are unable to service the reduced payments under this programme should approach their lenders early to discuss alternative repayment options.

https://www.mas.gov.sg/news/media-releases/2020/mas-and-financial-industry-extend-support-for-individuals-and-smes

 

[Showster]

5 minutes ago, ToyotaShuttle said:

First round of deferment no need. See how simple the application process is (for OCBC). https://www.ocbc.com/personal-banking/loans/payment-deferment-scheme.page

2nd round they need to see impact on your income.

 

Exactly. It's people's choice whether they want to take the money. I didn't apply though. Happy to continue to pay down.

[Kopites]

34 minutes ago, ToyotaShuttle said:

First round of deferment no need. See how simple the application process is (for OCBC). https://www.ocbc.com/personal-banking/loans/payment-deferment-scheme.page

2nd round they need to see impact on your income.

 

7 years! Wow that is long.

[ToyotaShuttle]

15 minutes ago, Kopites said:

7 years! Wow that is long.

I think you quoted the wrong post. But yes, 7 years is nuts especially if you think about how one will be dating 1-2 years before even being sure they want to apply bto with the other party. After applying also can't be one shot one kill - imagine waiting 9 mths before you can apply for your flat.

All in all, you might already be 35 by the time you get your flat assuming you are ready to apply 2 years after graduation.

If halfway break off or change partner then die liao. Maybe 40 years old get your bto flat.

[Wt_know]

51 minutes ago, Showster said:

Exactly. It's people's choice whether they want to take the money. I didn't apply though. Happy to continue to pay down.

it’s ah gong screw up that allow people to take advantage just like JSS and Skillsfuture. 

[ToyotaShuttle]

6 minutes ago, Wt_know said:

it’s ah gong screw up that allow people to take advantage just like JSS and Skillsfuture. 

I think that's way different. 

Can you quantify the loss when I take up this scheme?

The bank still gets their interest. CPF gets to keep my money for a cheap cheap 2.5% and they can invest it in the next ant financial and make better returns.

So who loses? The opportunistic bloodsuckers looking to pick up cheap foreclosed properties from poor people that lost their job?

[Showster]

23 minutes ago, Wt_know said:

it’s ah gong screw up that allow people to take advantage just like JSS and Skillsfuture. 

Definitely not a screw up. 

Although a tiny proportion benefits despite not needing it, a large proportion also benefits from the buffer arrangement. 

Not forgetting the many sectors and revenues that housing supports. We need more funds to fight Covid-19, if collect less the whole system will collapse faster. No point as well as salaries have continued to go up especially the upper quadrant. 

[therock]

https://www.straitstimes.com/singapore/singapore-drops-two-spots-to-become-14th-most-expensive-city-globally-for-expats-despite

Life has become less expensive - more money for buying houses?
:) 

[Wt_know]

5 minutes ago, therock said:

https://www.straitstimes.com/singapore/singapore-drops-two-spots-to-become-14th-most-expensive-city-globally-for-expats-despite

Life has become less expensive - more money for buying houses?
🙂

unacceptable .... we must be lumberrr 111111 

[Showster]

Stocks up, COEs up, houses up.

what has gone down?

[Wt_know]

5 minutes ago, Showster said:

Stocks up, COEs up, houses up.

what has gone down?

everything up except salary down ... that's NATURAL order of things ... 

Edited November 18, 2020 by Wt_know