Punggol East By-Election coming ? MP steps down
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3Boys:
Just read this (so hard to catch up with all these fast moving threads!!)...Sidestepped every single pertinent question posed to her, taken the very narrow view of a property investor/speculator who will of course derive benefit from a frothy property market. Harping continuously on ABSD benefiting foreigners.
What complete bull!
If you are a first time buyer, are you affected by ABSD?
If you are a prudent buyer with 500K, would you bankrupt yourself by shooting for a 2nd property valued at $1M?
If you are a rich foreigner, who has made his money buy being prudent and careful with dollars, the ABSD is meaningless to you? Hint - The rich don't get rich by throwing money away.
Made all sorts of wild assumptions, and in the meantime, berated Singaporeans for not being 'risk taking'.
Take what risk? Just to put money into speculators pockets? The poor chap who saved 300K over 10 years for his dream investment, just to watch it lose value?
Jannette, people have read the same motives about you that I have, only that not many have said it directly to you.
The property market is a continuous one, from the topline $3000 psf condo down to the HDB 3-room. There is a continuum of prices, how can there not be? The only other alternative is a 2-tier market where private properties are completely disconnected from HDB. Don't you get it? Then how do HDB owners upgrade?
Look at it from the point of view of first-time buyers and upgraders, the nett effect for them is a general lowering (or capping) of prices, and they are not so much affected by LTV or ABSD issues. Which it the INTENT, and a good one!
:goodpost: -
limlim:
I thought she'd know and she'll share mah :heresmyfish:
Why mention it if you're not gonna share freely..Harlequin:
@limlim: yap, outstanding loan amount, typed that a few times for her and this time got tired of typing so just put loan amount; effectively, it's not wrong to say loan amount too.
United Square? You pay me and I will tell you, money makes the world go round :boogie:
It's not exactly a top classified anyway, had expected she'd know given her savviness. -
toddles:
If I am wrong about your intentions, then I apologise and I take back the comment. However, explain your comment about risk taking? Juxtaposed against everything else you have been posting here, a logical conclusion is that you are egging people on to take excessive risks with their finances. You keep going on and on about the $1m house example when numerous people here (both PAP and Oppo supporters) are united in their opinion that you are wrong!3Boys:
[quote=\"JannettLee\"]Can you please stop making such baseless accusations? I am totally disgusted with attitude of people like you, who will start to resort to making personal attack as though it is real and true. I really don't know what to say about such people like you....
JannettLee:
Is it just me? Or does she sound like a real estate agent to anyone else too?
Next time, if you have such as good lobang, please IM me. If successful, I can even offer you good commission. I'm only interested in D1,9,10 &11.Harlequin:
Every weekend there are many properties being auctioned by the banks.
Everytime I read news articles (under the guise of \"commentaries\") on the ppty market by real estate folks, it's just so blatantly obvious that they are trying to buoy/talk the market up! E.g. oh there is genuine demand, these cooling measures will have no effect, ppty market still heading up up up! :siao:
Totally self-interested! Wonder why they continually get published. Should be classified with Big Bold Header as \"ADVERTORIAL\".
Tragedy is that the man on the street might actually lend credence to their words when what they're saying is totally self serving.[/quote]Wai, wai, wai, abang Toddles, I am the buyer of D'Leedon hor, not seller hor.. Also am not a property agent hor :heresmyfish: -
sleepy:
3Boys:
[quote=\"sleepy\"] can't exactly sell at profit and then sleep under the bride right? So the purchase price (loan amount) is of utmost importance to most people whom I presume only own one roof.
I don't mind sleeping under the bride.....
Or can we sell the bride for a profit instead......
ๅๅ่ฎจๅ
:rotflmao: :rotflmao:[/quote]Couldn't help myself
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Hi, hi, Iโm just an ordinary citizen who bought my 1st HDB and have stayed there ever since. Know nuts about property and investment. I welcome the recent cooling measures but at the same time, do find some sense about this JannettLee comment about people hogging HDB flats after they got the 2nd private property.
My elder brother had to return his HDB flat at a loss as he was unable to sell it off within 6 mths after he got his condo many years back. What was the reason for the change of policy where HDB dwellers are able to retain their flats even after they got a 2nd property? Is it to reduce cases of people selling at a loss like what happened to my brother, or to encourage people to venture into property investment if they have enough cash? Kindly share your views and knowledge. Thanks. -
toddles:
Wah, Irrelevant suddenly so charitable? After being so mean to poor ol' me?
Ouch! Yes, Sir! (Ma'am), I should spend some time in introspection and contemplation. :oops: -
Harlequin:
Wai, wai, wai, abang Toddles, I am the buyer of D'Leedon hor, not seller hor.. Also am not a property agent hor :heresmyfish:
Hiyah Harlequin, I am talking abt mrs savvy lah!! -
JannettLee:
Discussion has gone cold, but anyway, for good measure.......Next, he has to ask himself why there are CM7 altogether! It's a genuine demand and none of the previous CMs had managed to curb and you still can see the restrictions have very little impact on the private property prices. To the point that you are giving a lot of discounts to rich foreigners now as most Singaporeans are no longer able to afford and and free up the demand to foreigners and foreigners can now pick up good deals. The ABSD is no longer material to them.
http://www.iproperty.com.sg/news/6306/Cooling-Measures-may-Force-Foreigners-to-Pack-up-and-Leave
Given the increase in the Additional Buyerโs Stamp Duty (ABSD) after the introduction of the seventh round of cooling measures, the number of foreigners purchasing private homes is likely to fall in the first half of this year, say industry insiders.
In 2012, only 6.3% of private home purchases were by foreigners without permanent residency, markedly lower than the 17.6% recorded in 2011, and the lowest since 2003.
Analysts believe the falling numbers in 2012 were due to the 10% ABSD enforced on non-PR foreigners in December 2011. With the ABSD increased to 15% this year, the number of transactions by foreigners is likely to see an even larger decrease to about 5% of the total.
The affected foreigners might choose to shift to the more affordable suburban areas, or the outside central region. This is a trend that has already taken root in 2012, and which is predicted to continue this year.
So much for \"The ABSD is no longer material to them.\"
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shine:
So that the HDB flat can be rented out to the FTs mah... if not the millions of FTs, where are they going to stay??Hi, hi, Iโm just an ordinary citizen who bought my 1st HDB and have stayed there ever since. Know nuts about property and investment. I welcome the recent cooling measures but at the same time, do find some sense about this JannettLee comment about people hogging HDB flats after they got the 2nd private property.
My elder brother had to return his HDB flat at a loss as he was unable to sell it off within 6 mths after he got his condo many years back. What was the reason for the change of policy where HDB dwellers are able to retain their flats even after they got a 2nd property? Is it to reduce cases of people selling at a loss like what happened to my brother, or to encourage people to venture into property investment if they have enough cash? Kindly share your views and knowledge. Thanks.
And SCs will be happy mah, money making leh, who won't like? Win-win situation!
The only losers are the young couples trying to get a new flat to stay because of the sky rocketing price. -
Why private drop HDB will drop? I don't understand & can't see any logic. can explain?
Given that it is the heartland condos that has gone up by much larger % vs those in traditional prime district, it seem to be HDB upgraders pushing up prices after seeing their HDB doubling & tripling in prices?Strparent:
Pirate already explained the current situation very clearly.JannettLee:
Resale HDB flats transacting at $800k-900k, isn't this a bubble or genuine demand? A bubble in HDB property market right? Are we seeing real effective cooling measures being implemented for HDB property market? The answer is obviously no. So why no? they are sleeping? Trying to put out \"perceived\" fire in 20% private property market when in fact fire is ragging in the 80% HDB property market!
[quote=\"pirate\"]The foreigners are not coming in to buy in any numbers. The softest segment of the market is the upmarket segment in the central districts and district 15. The strongest demand is for developer sales in the suburbs. Why? Because one only needs to plonk down 20% and then wait for the developers to build. Most of the buyers don't even know what they are buying. Wait till they get their keys then they will know. :evil:
Private resale market of completed units is not particularly strong.
The market is now perceived as genuine demand when it is in fact a bubble. If it is genuine demand, the restrictions on financing for 2nd and subsequent properties will have no impact on the market.
regarding your question on why no cooling measures for HDB and only on pte property ? Isn't it obvious ?
any cooling of pte property prices will naturally lead to cooling of HDB prices, its a dominos effect..... and it does not work both ways proportionally.[/quote]
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