Private condo resale price every month went up >1%. Upto May already increased 6%! Huat Ah!

[musashi]

According to Gin, it will rise and rise and she becomes a rich rich woman, hoping to bring all her money worshipping wealth to the next world..

Come to think of it with this world full of bastards undeserving of my help, I should just bring all up to heaven indeed.

May I ask, are you honestly looking forward to dying as soon as possible, so that you can end up in "heaven"?

 

[AhMeng]

This afternoon when US slap another set of tariffs on Ah Tiong land, you see stock markets will drop or not ... Plus sg gov new absd... Huat ah @ginfreely ... Lol

 

[Wunderfool]

If Ginfreely didn’t blow trumpet in SBF, perhaps PAP will not think of introducing the cooling measures so soon.

It is never wise to show you are smarter than the PAP.

 

[555]

Higher stamp duty rates for home purchases and tighter loan limits
The latest cooling measures come amid an increase in private residential prices of 9.1 per cent over the past year.ST PHOTO: KUA CHEE SIONG
PUBLISHED
27 MIN AGO
SINGAPORE - The Additional Buyer's Stamp Duty (ABSD) rates and Loan-to-Value (LTV) limits on home purchases will be increased to cool the property market and keep price increases in line with economic fundamentals, said the Government on Thursday evening (July 5).
There is no change for Singapore citizens and Singapore permanent residents buying their first residential property with rates remaining at 0 per cent and 5 per cent, respectively.
However, for all other individuals, ABSD will be raised by 5 percentage points. For entities, including companies, ABSD will be raised by 10 percentage points.

The changes take place on July 6.
The latest cooling measures come amid an increase in private residential prices of 9.1 per cent over the past year.
After declining for close to four years, private home prices started rising in the third quarter of last year. The sharp increase in prices, if left unchecked, could raise the risk of a destabilising correction in the future, especially with rising interest rates and the strong pipeline of housing supply, said the Ministry of Finance, Ministry of National Development and Monetary Authority of Singapore in a joint press statement.


Loan-to-value limits will be tightened by 5 percentage points for all housing loans granted by financial institutions. For example, before the change, for the first housing loan, a borrower could borrow up to 80 per cent (or 60 per cent if the loan tenure is more than 30 years, or extends past age 65) . Now, the limits have been reduced to 75 per cent (or 55 per cent).
Related Story
Singapore Budget 2018: Higher stamp duty not a cooling measure, say analysts
These revised LTV limits do not apply to loans granted by HDB.

1. Those that develop high SES projects locally will get killed. Usually these $1800-$2500psf buyers are foreigners or rich locals who are buying additional properties. For example, stamp duty is 3% + ABSD penalties = 15 to 23% for these people. These rich locals and foreigners buy a $5million property, PAP takes $1million. This is like daylight robbery. Developers also incurred other costs during the development phases.

2. Property counters that sell low SES condos will be little affected. Usually their customers are just buying first condo, EC or building for HDB

3. Those counters that do a lot of overseas projects will be least affected.

 

[555]

PAP really knows where to suck people monies . You buy can, but now you pay more to me.
Maybe they lost monies because of the HSR postponement .

Song song..Enbloc deals will go haywire, and SC second home buyers mood dampened with 12%. Every $1m is additional $120k. Lol

developers poor thing now

1. Enbloc, they pay stamp duties and taxes.
2. Then developers face penalties if they cannot sell the units within the stipulated time frame
3. Then now the additional cooling measures, makes it harder to sell.

 

[AhMeng]

Haha...Tanglin Park proposed bloc can cancel riao. Song song. Let those greedy money worshipping people wait long long ...

 

[555]

Haha...Tanglin Park proposed bloc can cancel riao. Song song. Let those greedy money worshipping people wait long long ...

Recently URA flagged a few enbloc cases (on hold) too.

Now, enbloc for huge projects with 500-1000 units will have more issues such as minority resident objections and additional cooling measures.
Eg. Mandarin Gardens, Pandan Valley, etc

 

[Wunderfool]

Gin went quiet on this thread.

In her heart she must be cursing PAP.

But she is so used to cursing mudkander that she have difficulty coming up with a new curse mantra for sinkie.

 

[555]

Gin went quiet on this thread.

In her heart she must be cursing PAP.

But she is so used to cursing mudkander that she have difficulty coming up with a new curse mantra for sinkie.

Anyone who owns private condos that formed enbloc committees will definitely be cursing and swearing.

 

[555]

Redas calls new private property cooling measures tough, and says no rationale for them
https://www.straitstimes.com/singap...measures-tough-and-says-no-rationale-for-them

Redas did not see the rationale of imposing additional harsh measures on developers. Besides raising ABSD for entities by 10 percentage points to 25 per cent - a sum that can be waived if developers fulfil several conditions including completing and selling all their units in a prescribed time frame - the Government has imposed an extra 5 per cent ABSD that cannot be waived.

Existing measures, such as financial considerations and "unfriendly business policies" such as the old ABSD and penalties were sufficient, it said.

"The new ABSD on developers will impose additional pressure on land acquisition as they compress their development, sales and land replenishment cycle time," it added.

 

[eatshitndie]

it’s also to curb the speculative frenzy that’s now happening with private condo enblocs. many of these “golden aged” sinkies are cashing out on their older condos, buying up properties overseas, and transferring their wealth to other cuntries. some put their wealth back in sg by buying up new private condos and landed properties, thus jacking up prices of private estates. wealthy foreigners in the region also join in the speculative frenzy and buy up extra properties intending to hold them and flip at an opportune time.

 

[ginfreely]

Lol 20% ABSD. ... My AT and ATB friends all run far far riao. They are all looking at HCMC now if you want to know where the funds are flowing...Lol

Sure or not you must have bought in Vietnam yourself. Someone who spent years working in Vietnam and married a Vietnamese wife told me the Vietnamese hate prc Chinese. So it’s very unwise for prc to buy there.

 

[ginfreely]

Song song..Enbloc deals will go haywire, and SC second home buyers mood dampened with 12%. Every $1m is additional $120k. Lol

The only consolation for you Mdm Gin is SPR buying first property. You pray they grant more PRs PMETs who can afford that 5% no change ABSD. LOL

Of course song song to you just waiting for your parents to die to get inheritance. Money not you earned one lose a bit or crash also ok for you useless good for nothing Ah sia Kia!

 

[ginfreely]

PAP really knows where to suck people monies . You buy can, but now you pay more to me.
Maybe they lost monies because of the HSR postponement .

Suck money and can earn more votes from sinkies in 2020!

 

[ginfreely]

May I ask, are you honestly looking forward to dying as soon as possible, so that you can end up in "heaven"?

You never heard before everyone wants to go heaven but no one wants to die? Ccb Malaysian son of whore asking stupid leading questions casting aspersions on me and thinking you are so smart being evil and dishonest yourself.

 

[ginfreely]

If Ginfreely didn’t blow trumpet in SBF, perhaps PAP will not think of introducing the cooling measures so soon.

It is never wise to show you are smarter than the PAP.

Excuse me I only cheering after 15 quarters of falling price. So it’s nothing to do with me but pap wanting to earn more money and get more votes from 80% hdb sinkies at the same time!

 

[ginfreely]

developers poor thing now

1. Enbloc, they pay stamp duties and taxes.
2. Then developers face penalties if they cannot sell the units within the stipulated time frame
3. Then now the additional cooling measures, makes it harder to sell.

Just now got some analyst in the news said the developers will charge higher to cover the cost increase. Which means price increase further.

 

[ginfreely]

Gin went quiet on this thread.

In her heart she must be cursing PAP.

But she is so used to cursing mudkander that she have difficulty coming up with a new curse mantra for sinkie.

Excuse me it’s nothing unusual that I reply in the afternoon or evening or night or early morning. So your comment that I went quiet on this thread is obviously a malicious lie.

 

[ginfreely]

Anyone who owns private condos that formed enbloc committees will definitely be cursing and swearing.

One analyst said these measures will bring an end to this cycle of enbloc boom!

 

[eatshitndie]

One analyst said these measures will bring an end to this cycle of enbloc boom!

they are also targetting the enbloc frenzy as many are cashing out and parking their wealth somewhere else.