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Just in. See below.
Serious For immediate release : Govt Relaxs Some Pty Curbs ( 10 Mar 17 )
- Thread starter CoffeeAhSoh
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SINGAPORE - The Government has relaxed some residential property measures relating to the sellers' stamp duty (SSD) as well as the total debt servicing ratio framework (TDSR). The new rules take effect from March 11.
However, there is no change to the additional buyers' stamp duty (ABSD) as well as loan-to-valuation (LTV) limits.
The SSD is currently payable by those who sell a residential property within four years of purchase, at rates of between 4 per cent and 16 per cent of the property's value
- The changes will see the SSD holding period cut to three years, down from four.
- The SSD rates will also be lowered by four percentage points for each tier.
- The new SSD rates will range from 4 per cent (for properties sold in the third year) to 12 per cent (for those sold within the first year).
The rates apply to all homes bought on and after March 11.
The current TDSR framework aims to encourage prudent borrowing by households.
Under this framework, property loans extended by a bank cannot exceed a TDSR threshold of 60 per cent.
This means that your total loan obligations cannot exceed 60 per cent of your monthly gross income.
However, this 60 per cent threshold will no longer apply to mortgage equity withdrawal loans with loan-to-value ratios of 50 per cent and below. These refer to loans where borrowers in their retirement years will borrow against the value of their properties to obtain more cash. This move is expected to affect only a small group of owners.
MND, MAS and MOF said in a statement on Friday that the current set of property measures remain necessary to promote a sustainable residential property market and financial prudence among households.
However, there is no change to the additional buyers' stamp duty (ABSD) as well as loan-to-valuation (LTV) limits.
The SSD is currently payable by those who sell a residential property within four years of purchase, at rates of between 4 per cent and 16 per cent of the property's value
- The changes will see the SSD holding period cut to three years, down from four.
- The SSD rates will also be lowered by four percentage points for each tier.
- The new SSD rates will range from 4 per cent (for properties sold in the third year) to 12 per cent (for those sold within the first year).
The rates apply to all homes bought on and after March 11.
The current TDSR framework aims to encourage prudent borrowing by households.
Under this framework, property loans extended by a bank cannot exceed a TDSR threshold of 60 per cent.
This means that your total loan obligations cannot exceed 60 per cent of your monthly gross income.
However, this 60 per cent threshold will no longer apply to mortgage equity withdrawal loans with loan-to-value ratios of 50 per cent and below. These refer to loans where borrowers in their retirement years will borrow against the value of their properties to obtain more cash. This move is expected to affect only a small group of owners.
MND, MAS and MOF said in a statement on Friday that the current set of property measures remain necessary to promote a sustainable residential property market and financial prudence among households.
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The smart ones long hve bail out and move out.
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many tasted success and gone in for 2nd, 3rd and 4th round. Sad :(
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i think gahment reckon tht there is no property bubble after all. they need more rich migrants to invest, oz and nz still appreciating. even china is not slowing. seems tht shenzhen is hotter than beijing and shanghai. summarise global property in good cities are still in demand. but there is a catch, hk property expensive cos it's near china but spore, neighbours ard us are uncomaprable. no reason to be expensive. take it with a pinch of salt, my 2 cents.
if got money go invest in shenzhen, it's transforming and going to be the next silicon valley.
if got money go invest in shenzhen, it's transforming and going to be the next silicon valley.
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So the bubble is over its time to huat huat huat??
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its alright,in order to make money u must take risk.failure is just a stepping stone.
look at where donald trump is.....4 bankruptcies,11 failed businesses and 1,200 lawsuits later hes worth 3.9 billion.
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Not unless ur Donald Trump or Miss Hohoho, for many Sinkies the SG mkt is oridi dried and no hope, u want to put ur cash in it, gd luck to you!
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You fill a balloon with water, you squeeze in the center, the sides inflate, & you squeeze the side, the other side inflate...& so on. This is Stinkerpore....so, what is not new??
They are now chasing after all the goose that lay the 'golden eggs' that had flew the coop, by offering better 'animal feed' to entice them back....but these 'bird'....are across the causeway & anywhere...but here....we have LOST THAT SHINE...& our growth had been throttled for many decades already...by voting the same government... there will be never any sign of relief.....
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