COE Bidding – August 2022

[Silverkris]

2 hours ago, 13177 said:

No wonder rich people will get richer and richer. While poor people like me would remains as poor or become even more poorer. 😪

A tweet by Elon Musk earns him some USD50M in a couple of hours, sucking others $$$ who believe he will buy MU and bought into the shares, while he sell out when prices are high enough. 

[inlinesix]

8 minutes ago, Mkl22 said:

thats why you need to drive a lao pok car during the weekend and just ram... 😁

Like Mustank Musso

😂

[13177]

1 hour ago, Vratenza said:

TBH, with a salary of $3-4K to start with, almost impossible to have any other sort of passive income that requires large amount of savings to invest eg. second property

unless the job really is very free, allow him/her to do sidelines business from home etc.

Most cases, should be lau peh lau buh got money.

You might be surprise some people who earn $3-4k could have other sort of passive income. The person could have some sidelines or some really have rental income. Esp for those who is married. I have colleague salary not say very high all the while, and yet got rental income for years. Cause rent out their HDB while go stay with parents.

[13177]

21 minutes ago, Dilemma said:

Basically foreigners can buy everything including companies. So they will probably buy a company or register a new company in sg then use that company to buy the property. So yes. Foreigners can do whatever they want in sg. 

Think if got tons and tons of money, you can do and buy many things in sg. Foreigners or not doesnt matter.

[inlinesix]

8 minutes ago, 13177 said:

Think if got tons and tons of money, you can do and buy many things in sg. Foreigners or not doesnt matter.

For landed, you can't. 

Even the rich registered the property under local, the local was penalised.

[Vratenza]

9 minutes ago, 13177 said:

You might be surprise some people who earn $3-4k could have other sort of passive income. The person could have some sidelines or some really have rental income. Esp for those who is married. I have colleague salary not say very high all the while, and yet got rental income for years. Cause rent out their HDB while go stay with parents.

Usually the sidelines at most cover 1-2K more  and sidelines are not passive. Self running business and rental is passive.

Stay with parents rent out own HDB is also lau peh lau bu got money lah.

I wish I can do that for the 1st 10 yrs of my working life, that would have given me a head start in life....maybe now I could be driving a 911?

[Ingenius]

41 minutes ago, 13177 said:

Think if got tons and tons of money, you can do and buy many things in sg. Foreigners or not doesnt matter.

This applies to any other countries too.

[Ct3833]

2 hours ago, Vratenza said:

oh and if buying Sentosa Cove....you will have fast track approvals

https://sharonanngoh.com/buy-sell/sentosa-special-scheme/

 

That's why you see Sentosa is the playground for the rich to park their money....

Partly Sentosa Cove is 99 years, not 999 or FH. There are probably 5% of FH and 999 landed in sgp 

 

2 hours ago, Vratenza said:

A foreign person who wishes to purchase a landed residential property is required to seek approval under the Residential Property Act. All applications have to be submitted online here.
 

WHO IS CONSIDERED A FOREIGN PERSON UNDER THE RESIDENTIAL PROPERTY ACT?

A foreign person means any person who is not any of the following:

• Singapore citizen;
• Singapore company*;
• Singapore limited liability partnership*; or
• Singapore society*.

*Please see FAQs on Clearance Certificate for purchase of landed residential property 
 

WHAT ARE THE CRITERIA FOR APPROVAL?

Each applicant is assessed on a case-by-case basis, taking into consideration, including but not limited to, the following factors:

You should be a permanent resident of Singapore for at least five years; and

You must make exceptional economic contribution to Singapore. This is assessed taking into consideration factors such as your employment income assessable for tax in Singapore.

 

TYPES OF PROPERTY FOR WHICH A FOREIGN PERSON MUST SEEK APPROVAL TO PURCHASE UNDER THE RESIDENTIAL PROPERTY ACT

• Vacant residential land;
• Terrace house;
• Semi-detached house;
• Bungalow/detached house;
• Strata landed house which is not within an approved condominium development under the Planning Act (eg. townhouse or cluster house);
• Shophouse (for non-commercial use);
• Association premises;
• Place of worship; and
• Worker’s dormitory/serviced apartments/boarding house (not registered under the provisions of the Hotels Act).

 

TYPES OF PROPERTY FOR WHICH A FOREIGN PERSON CAN PURCHASE WITHOUT APPROVAL UNDER THE RESIDENTIAL PROPERTY ACT

• Condominium unit;
• Flat unit;
• Strata landed house in an approved condominium development;
• A leasehold estate in a landed residential property for a term not exceeding 7 years, including any further term which may be granted by way of an option for renewal;
• Shophouse (for commercial use);
• Industrial and commercial properties;
• Hotel (registered under the provisions of the Hotels Act); and
• Executive condominium unit, HDB flat and HDB shophouse. (For this category, you may wish to find out more information on HDB eligibility guidelines at hdb.gov.sg or email HDB at [email protected].

https://www.sla.gov.sg/property-boundary-n-ownership/foreign-ownership-of-property

Thanks. It states the rules but did not state why, the why in my last post was  my own assumption.

[Vratenza]

4 minutes ago, Ct3833 said:

Partly Sentosa Cove is 99 years, not 999 or FH. There are probably 5% of FH and 999 landed in sgp 

 

Thanks. It states the rules but did not state why, the why in my last post was  my own assumption.

Yeah, my guess to the rationale is the same.....easier for the govt to make sure that they don't wake up one day and the whole of Bukit Timah becomes part of China/Indonesia.....

 

[SLing]

Importing wealth may be useful in some ways but you cannot build a nation / national identity doing this.  The rich may come.  They can also leave just as quickly.  Little wonder there is no national pride, just national snobbery & arrogance 

[darviathan]

PMS ad lai liao

 

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[Ginyu]

5 hours ago, Vratenza said:

Most I find weekend driving more stressful from all the weekend drivers, OPC plates,  rental cars coming out to play. 

They are either indecisive and dangerous or reckless and dangerous. 

Referring to those become unemployed not those on off days, the car still can keep for other use, not necessary need to let it go because one is no longer working 😂 

[Sdf4786k]

6 hours ago, inlinesix said:

For landed, you can't. 

Even the rich registered the property under local, the local was penalised.

No leh … GCB can register but leychay to apply 

btw I think this is COE bidding n not TOP leh 

Edited August 18, 2022 by Sdf4786k

[inlinesix]

1 minute ago, Sdf4786k said:

No leh … GCB can register but leychay to apply 

Need to apply before buying.