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- Thread starter crimsondue
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I think our property really undervalued considering how good our country infrastructure is. No country even come close. So it's only right that property prices should go up. It's like a house with the best quality furniture, best workmanship, best location, best everything and you want to get it cheap. No way.
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In an ideal world I agree with you..but unfortunately it's not possible. Do remember our forefathers were immigrants too and they built this country to where it is. Likewise the new immigrants will be building this country for your children and their children.
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Latest measures more pre-emptive than cooling
04:45 AM Oct 06, 2012
by Colin Tan
If not viewed in the light of the possibly harmful effects of the US Federal Reserve's third round of quantitative easing (QE3) and other stimulus measures by monetary authorities around the world, the "cooling" measures announced yesterday by the Monetary Authority of Singapore (MAS) may be seen as the first attempt at curbing the abnormally robust property buying seen this year.
Private home prices rose 0.5 per cent in the third quarter from the April-June quarter, according to the Urban Redevelopment Authority's flash estimate. It may the biggest quarterly rise this year but, really, did we even notice it? We know that prices are already at a high level but can we really tell whether they are higher? Ditto for the 1 per cent rise for homes in the suburbs.
So, price growth is not really a problem now, but it may be in the future - which means the latest measures are more pre-emptive than cooling.
What about purchases? At first reading, the measures appear daunting. Besides the cap of 35 years on all new housing loans, higher loan-to-value (LTV) limits apply to mortgages exceeding 30 years and where the loan term ends beyond the borrower's retirement age of 65 years.
These will likely bring down the average loan term quite significantly. The adverse impact on the volume of home sales depends on how much liquidity presently resides in the hands of buyers. Most buyers I know accept longer loan terms simply because the banks offer them.
At this point, I am tempted to say that home buying will be significantly curtailed. Developers will now think twice before raising prices and may even be forced to cut prices if sales are not moving.
But, crucially, the measures do not force banks to lend at a higher mortgage rate. If another wave of liquidity were to hit Singapore as the MAS expects, banks would have even more cash than channels to put that money to work. Already ample liquidity has forced some banks - even before QE3 was announced - to introduce that infamous 50-year home loan.
The more "innovative" of the banks will find incentives to put that money to use. How about "no or close-to-no interest" payments for the first two or maybe three years? And what else? If one bank does not raise its incentives, others doing so will grab more market share.
This may lead us back to square one.
Colin Tan is Head, Research & Consultancy at Chesterton Suntec International
04:45 AM Oct 06, 2012
by Colin Tan
If not viewed in the light of the possibly harmful effects of the US Federal Reserve's third round of quantitative easing (QE3) and other stimulus measures by monetary authorities around the world, the "cooling" measures announced yesterday by the Monetary Authority of Singapore (MAS) may be seen as the first attempt at curbing the abnormally robust property buying seen this year.
Private home prices rose 0.5 per cent in the third quarter from the April-June quarter, according to the Urban Redevelopment Authority's flash estimate. It may the biggest quarterly rise this year but, really, did we even notice it? We know that prices are already at a high level but can we really tell whether they are higher? Ditto for the 1 per cent rise for homes in the suburbs.
So, price growth is not really a problem now, but it may be in the future - which means the latest measures are more pre-emptive than cooling.
What about purchases? At first reading, the measures appear daunting. Besides the cap of 35 years on all new housing loans, higher loan-to-value (LTV) limits apply to mortgages exceeding 30 years and where the loan term ends beyond the borrower's retirement age of 65 years.
These will likely bring down the average loan term quite significantly. The adverse impact on the volume of home sales depends on how much liquidity presently resides in the hands of buyers. Most buyers I know accept longer loan terms simply because the banks offer them.
At this point, I am tempted to say that home buying will be significantly curtailed. Developers will now think twice before raising prices and may even be forced to cut prices if sales are not moving.
But, crucially, the measures do not force banks to lend at a higher mortgage rate. If another wave of liquidity were to hit Singapore as the MAS expects, banks would have even more cash than channels to put that money to work. Already ample liquidity has forced some banks - even before QE3 was announced - to introduce that infamous 50-year home loan.
The more "innovative" of the banks will find incentives to put that money to use. How about "no or close-to-no interest" payments for the first two or maybe three years? And what else? If one bank does not raise its incentives, others doing so will grab more market share.
This may lead us back to square one.
Colin Tan is Head, Research & Consultancy at Chesterton Suntec International
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Well said. I couldn't agree more.
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You are originally from Pinoy Land?
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Don't compare the past to the present situation now.. Its totally a different matter alltogether.. New immigrants will be building this country for our children and our children's children?
You're either naive or plain dumb.. How many of these new immigrants who shipped their sons out of this island and back to their native countries the minute MINDEF send that dreaded NS letter to them?
New immigrants will only be here for the good times.. When it comes to the crunch they'll be the first to flee from Spore.. I have seen alot of Indian PRs, the Pinoy PRs going back home to their respective motherlands the minute they sell their HDB flats for a good profit..
I have more respect for the past generation of immigrants than the present new immigrants that we have in this country right now..
mother fucker fake vegetarian cow only can come out wayang self slap face policy. those measures will made the private proverty palyers turn to HDB market, it will made more peasant can't afford hdb flats. but anyway...... garment had already build lots of rental flats, these are reserve for those "victims"....
bro, this assholes neither naive or plain dumb, it's simply a dog, perhare a pap's dog..
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What cooling measures??
That had been the rules since time immemorial... silently over the last couple of years they allowed the banks to do whatever they wanted... now just putting back what should have been in the first place
That had been the rules since time immemorial... silently over the last couple of years they allowed the banks to do whatever they wanted... now just putting back what should have been in the first place
No need so many wayang lah.If really want to stabilize the property prices in this small island, stop the PRs from buying resale HDB flats.Tell the PRS to buy private property to stay or rent private property to stay.HDB flats are public housing for Singapore Citizens only. PRs are NOT Singapore Citizens.
Wake up u farking PAP !!!
Wake up u farking PAP !!!
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The writer overlooked the other important change, regarding 40% per cent cash instead of 20%.
- If they have no outstanding mortgage, the cash down payment is now 40 per cent of the property's valuation instead of the usual 20 per cent.
- If they already have an existing mortgage and want to take another one for another property, the cash down payment is 60 per cent, instead of the current 40 per cent.
That WILL affect those who do not have sufficient cash. 40% to 60% cash is significant to most people.
http://www.straitstimes.com/breakin...gage-rules-may-deter-older-investors-20121006
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It will never end this HDB shit. Immigrate is the best answer!
