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Charlie258

Alfrescian
Loyal
Hi,

Today just went back to my desired home for quotation and measurement by the contractor and was approach by a guy name Alex I think. Whom claim to be from Horizon Hill Town Committee. When asked that I was trying to get my own contractor to do up my home he mention that I need to pay RM$1k for deposit or something. Also need to update him with my contractor name n contact (this I know for security sake) the so call extra cash. Can I chk with u is this true?


I do not know the procedure for HH or other Johor State condominiums, but our Selangor condo, when we did our renovation with our own contractor, I had to put down a cheque for S$600+, and also had to write down for the condo management boys all my contractor's particulars. The latter is for security reasons. So, you case: it is probably a legitimate request.:biggrin:
 

wuqi256

Moderator - JB Section
Loyal
Hi Danteakc,

Its true but you don't need to update him at all, you just need to update the township and the 1k is refundable after the renovation is complete. This is for security reasons as well as to ensure that the owner takes reasonable care when doing his renovation so as not to adversely impact the other owners.

The way he put it doesn't sound nice though but probably he is just pissed that you may use one which he will not get commission for.
 

wuqi256

Moderator - JB Section
Loyal
Hi Lian9,

They may approve but it will be challenging given the circumstances described. Other than having an FD with them, you may need some kind of reference or testimonial letter from another company or also information on large deals, etc that you have worked or are working on. Likely they won't use it but D&B reports are still used in some countries to check on credit worthiness of companies/individuals.

No issues of talking about KL, KL is pretty ok in fact, just go for a trusted developer, check on the strata title and get something that is built or soon to be completed. All the best!
 

euphony

Alfrescian
Loyal
I bit the bullet and booked a studio at KSL city with the 8%GRR. It is on the pricey side of things ~356k having considered the big picture though I would really look forward to a shorter commute in time to come and the convenience of the shopping center downstairs. Next: the bank loan... I've checked Public Bank and they are selling me a home loan with interest of 4.1%. I hearsay HSBC gives a good deal too. Big bros here, any other attractive options as of this month?
 

Lian9

Alfrescian
Loyal
Hi, i just read that for properties purchased in Malaysia, and if they are sold within a 5 yrs period, there is a 5% gain tax...
 

wuqi256

Moderator - JB Section
Loyal
Lian9, there is the tax if you sell within 5 years. There may also be some penalty from the banks if you sell within a certain period. The main thing though is if you are buying for own stay or the properties you have are for family, then its ok.

The 5% will normally be reduced as you also need to take out the expenses, renovation of the house, etc. It shouldn't be an issue unless you are looking at flipping properties(don't do it in JB, do it in SG) or unless you plan to sell below 5% gain.
 

wuqi256

Moderator - JB Section
Loyal
Hi Euphony, heard a lot of good deals from banks this month, shop around, you never know. :smile:
 

wuqi256

Moderator - JB Section
Loyal
By the way,during hari raya here, there are really good deals to be had, furniture etc goes for cheap.

Genuine sales (only during this period), very different from the fake sales they have normally like the ones we have in SG.
 

danteakc

Alfrescian
Loyal
Wuqi I am having problem right now. UOB I had sign the LO then comes SC with 85% then later comes HSBC with -2.3%. I decided to go for SC has it has higher loan then the 2 banks. However now SG properties being implemented cooling measures. Had a previous buyers withdrawn his offer.

Now lame have to take in lower COV to sell away home. I am stuck. Shucks!!!
 

euphony

Alfrescian
Loyal
thnks wuqi!

Actually, the KSL didn't materialize becos of admin cock-up apparently the unit I eyed was booked by agent in SG and bank loan processed. So I ended up with my 2nd choice Palazio which I could buy 2 almost same pricing point as 1. One is confirmed, now I am seriously thinking whether I should commit to a 2nd studio for rental income...

Oh, I should scout around then since I do need some more furniture. Thanks for the tips!!!

Here's my contribution to the thread: those using going into SG be very wary of the traffic light entering into CIQ (NOT 2nd link), its 'hungry ghost festival' now sometimes when I can I'll skip that one and use the U-turn from Stulang instead, there are some especially blood thirsty 'mosquitoes' infesting that area now... Stop when its amber, signal your intention and don't change lanes around the lights area.
 

iamapseudoneem

Alfrescian
Loyal
Here's my contribution to the thread: those using going into SG be very wary of the traffic light entering into CIQ (NOT 2nd link), its 'hungry ghost festival' now sometimes when I can I'll skip that one and use the U-turn from Stulang instead, there are some especially blood thirsty 'mosquitoes' infesting that area now... Stop when its amber, signal your intention and don't change lanes around the lights area.

I'm not sure what you meant by that paragraph, sorry. Are you talking about ghost sightings or criminals waiting at that traffic light area? Do enlighten thanks!
 

KNNBCCB

Alfrescian (Inf)
Asset
I'm not sure what you meant by that paragraph, sorry. Are you talking about ghost sightings or criminals waiting at that traffic light area? Do enlighten thanks!

he meant, drive carefully, donch simply cut here and there. Got poodles (matakia) waiting for your kopi money hor... my fren kena hor... bloody poodles... :p
 

wuqi256

Moderator - JB Section
Loyal
Bro iamapseudoneem, he was referring to their "poodles" who are waiting there as they want to catch errant motorists.
 

wuqi256

Moderator - JB Section
Loyal
Wuqi I am having problem right now. UOB I had sign the LO then comes SC with 85% then later comes HSBC with -2.3%. I decided to go for SC has it has higher loan then the 2 banks. However now SG properties being implemented cooling measures. Had a previous buyers withdrawn his offer.

Now lame have to take in lower COV to sell away home. I am stuck. Shucks!!!


I am so sorry to hear that, did you at least have some sort of penalty for the previous buyer that you can pursue? For the banks, do you mean you are able to switch to SC or stuck with UOB? I hope its the former.
 

wuqi256

Moderator - JB Section
Loyal
Hi euphony, i would suggesting getting another unit to rent out. Every weekend, it has been getting busier and busier and there are loads of folks coming in.

Something seemed to be pushing them as more and more are coming in. One of my esteemed neighbours rented out his semi-d for $5,500 RM and his neighbour rented it out for $7,000 RM. Both are 2 year leases.

One of my SG friends renting out his houses here also told me, his unit got rented out at $2,500 RM and some are keen to rent his other unit at $3500-$4000 RM. He even has a number of colleagues here as well as new friends who are in banking industry from Singapore. One of his senior ex colleagues/ex boss also bought besides him.

He told me he went with some neighbours to East Ledang during the weekend and encountered some folks from SG as well.

Not sure how true but seems some have already purchased it on the day they came in.

By the way, there is a new 24 hour MacDonalds opening very shortly, its opposite Jusco shopping centre and less than 20 steps away from the CW3 terminal/stop.

Also, always forgot to update this, there is actually a 24 hour manned police post at the terminal/stop. Quite a few banks here have guards sitting inside(some dozing of course), the banks nearby here that i noticed have guards are OCBC, EON to name a few.
 

iamapseudoneem

Alfrescian
Loyal
Dropped by NI show house on Sunday and was told by the sales guy that visitor numbers (both Singaporeans and Malaysians) have picked up suddenly. We did notice that when we went to the show house there were a number of people checking it out (when last week there wasn't any) and the sales guy was in a rush to meet up with more customers while we were loitering :smile:
As he was leaving he did mention something about the new SG policy on housing ownership as possibly a factor, but I wasn't paying too much attention. Hearing him say that those who bought units earlier benefited more did make me smile though.
 

iamapseudoneem

Alfrescian
Loyal
Wow it's gotten pretty quiet for awhile. So here's something for discussion:
How does the new Sg housing measures affect you or someone you know when it comes to purchasing property now or in the future? Are they affecting you/them right now?

Here is a breakdown of the new HDB measures:
For applications received by HDB from 30 Aug 2010 onwards for purchase of non-subsidised flat (i.e. a resale flat bought without CPF housing grant):
a) Flat buyers need to meet a minimum occupation period (MOP) of 5 years, before they can sell the non-subsidised flat in the open market or sublet the whole flat.
b) Flat buyers are not allowed to concurrently own the non-subsidised flat and private residential property during the MOP of the flat. Ownership of private properties by HDB lessees will be allowed after the MOP.

Flat buyers who have already bought a flat or whose application to buy a flat is received by HDB before 30 Aug 2010 will not be subject to the new measures.
 

Funds Transfer

Alfrescian
Loyal
I think the Singapore Government may have reached its objective of curbing the rise of the HDB resale prices after seeing it sky rocketing for more than a year now. But in the process, it has affected some groups of people but for others, it is the basically good news or unchanged.

Newly Weds
For those who can qualify for subsidised housing and are punished by HDB's inefficiencies and failure to cater to demand for new housing, they could now opt for a resale flat since prices are expected to moderate.
Those who cannot qualify for subsidised housing find that the bar has been raised a little (from a limit of $8K of household income to $10K). This would delight some and there is still the option of going for a resale unit.


Family with Growing Wealth and Needs
Well, this would be the group that are greatly impacted if you ask me. For those who have owned a HDB flat for a while now may be considering to:
1) Upgrade to a bigger HDB
2) Upgrade to a condo
3) Buy a condo while owning a HDB flat
4) Buy a HDB flat while owning a condo

For 1), the policy helps as prices may stabilise but that would mean a lower selling price for their existing unit.
For 2), they may be disappointed by the HDB prices moderating and a private condo may continue to rise.
For 3), those that meet the MOP will be OK but those not meeting the MOP will need to wait and may not be able to afford the prices if condo prices continues its rise. There may be a potential for them to gravitate towards substitutes; ie. Malaysian and other overseas properties.
For 4), game over.

PRs and Future Citizens
I believe the policy was meant to address some of the issues related to this group as well. In a way, if prices continues its upward climb, there would be considerations on the part of PRs to come this way or setting themselves to be a citizen of Singapore. Already, some quarters have remarked about Singapore being an increasingly expensive place to be. But how would they be impacted?

1) PRs/Future Citizens who are uprooting and have no other properties in their luggage. They may be attracted by the fact that prices for affordable housing (HDB?) is in sight. Almost like the newly weds who are Singaporeans, they should enjoy this.
2) PRs/Future Citizens who have properties.
There could be a substantial number of such people around. But if they have properties strewn all over Asia, Australia, America, then they would not be eyeing a HDB resale flat.
But if they have a small property tucked away in a village near Mumbai, Malacca, Manchuria, then what is the likelihood of the Singapore Government finding out? Near to zero. They may not be able to afford condos in Singapore but could just take the risk and buy a HDB resale flat.
3) Rich PRs/Future Citizens coming to Singapore to invest in more private properties. Enough said, they would not be bothered by this ruling.
 

danteakc

Alfrescian
Loyal
Wow it's gotten pretty quiet for awhile. So here's something for discussion:
How does the new Sg housing measures affect you or someone you know when it comes to purchasing property now or in the future? Are they affecting you/them right now?

Here is a breakdown of the new HDB measures:
For applications received by HDB from 30 Aug 2010 onwards for purchase of non-subsidised flat (i.e. a resale flat bought without CPF housing grant):
a) Flat buyers need to meet a minimum occupation period (MOP) of 5 years, before they can sell the non-subsidised flat in the open market or sublet the whole flat.
b) Flat buyers are not allowed to concurrently own the non-subsidised flat and private residential property during the MOP of the flat. Ownership of private properties by HDB lessees will be allowed after the MOP.

Flat buyers who have already bought a flat or whose application to buy a flat is received by HDB before 30 Aug 2010 will not be subject to the new measures.

Currently waiting for SC to gif me 85% loan. Now I push HSBC for a 90% loan which instead he suggest me to get 10% personal loan at 12% per annum. WTF!!!. Got a frendster here at thread got 90% loan from UOB becos he has a stable income. No offence Daniel as currently my sale of current HDB got lower offer. Not intending to sell if don't match.

Currently raking in huge debts + $$ to churn out the 15% for the downpayment. The measures is too late too soon.

I haven moved in the house already in moutains of debt. But fengshui teacher claim it is good house. I hope it does not kick me out!

ps the above measure implement by HDB might force me to do drastic measure if after we sold the HDB and I can't own a HDB becos we had a pp in JB. I might sign the divorce paper to buy a 3rm HDB for single? Stupid right? I believe all this is meant for GE 2012. After PAP gets elected current measures would be topple and residential property would skyrocket again. Then I am really in deep shit. (why keen in getting a HDB in Singapore, errh just in case currently JB MP got topple and foreign investor gets the boot. Or worst moB!!!)
 

Analytical Professor

Alfrescian
Loyal
Yeah talking about sales in Spore... U r right Wuqi...

I never believe any of the sales in Sg.

There are many times when in Sg i can find shops that sell goods at a far cheaper price than those having sales.


By the way,during hari raya here, there are really good deals to be had, furniture etc goes for cheap.

Genuine sales (only during this period), very different from the fake sales they have normally like the ones we have in SG.
 
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