Very soon, ABSD will be taken away or reduced to 10%
(16-12-2013, 09:43 AM)propertyinvestor Wrote: [ -> ]Very soon, ABSD will be taken away or reduced to 10%
Hur? does it implied that you fall under FR category? currently 15%
(16-12-2013, 09:25 AM)chialc88 Wrote: [ -> ]2013 is definitely a watershed year.
Most of the article contains data that we already well aware.
It's a good summary and level set anyone who is keen in buying property:
- TDSR: the game changer; all ppty loans must stay within 60% of all monthly debt obligations to monthly gross income.
- TDSR interest rate calculation: 3.5% residential; 4.5 commercial (instead of bank interest rate)
- MSR: max 35% from HDB; max 30% from bank (apply to EC after 10 Dec 2013)
- ABSD: SGP (0, 7, 10); PR (5, 10); FR(15) + 3% stamp duty
- LTV: 50% for 2nd loan; 40% for 3rd onward; 20% for company loan
- Weighted age & Guarantor: Guarantor must be a joint owner and included in the calculation of average age
Ong reported:
1. Prices expected to moderate, but severe corrections not likely
2. FY13, price could dip up to 3%
3. Recent launches such as Duo Residences, Inflora and Sky Vue drew keen interest from buyer
4. Owner and developers still have holding power and there is unlikely to be widespread distress sales "although price resistance has set in and certain areas could see prices weakening"
5. Estimate 77,000 private non-landed homes and ECs will be completed in the next three years.
6. As price fall, "buyers looking out for good deals may still come back to the market". and prices could be supported by attrative projects expected to launch in the first half of 2014. such as for the site at Kim Tian Road.
7. more Singaporean investors are heading overseas amid high prices and stringent property measures.
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I think this is a good summary for FY13.
I'm eagerly looking forward to FY14.
The skies the limit.
Property investors are now buying only selective properties with alpha potential. In the next few years, only projects with prime location and nearby amenities can sell.
Over priced projects that have many unsold units like The Trillinq, The Maisons and Skywoods will be forced to give further discounts to entice buyers. And the price cuts will lead to more developers giving steeper discounts to move sales, especially the smaller developers that are over leveraged.
The snow ball might only get bigger after 20th Feb 2014, 4 years after the implementation of the sellers stamp duty measure. That's when the increasing secondary supply will start to add pricing pressure to the property market.
http://www.iras.gov.sg/irasHome/page04.aspx?id=10212
How about the buyers %? i am expecting more medium+high income FTs to come to singapore to work, and plus able to soak up the excess supply, 6.9m is not organic growth, it is IMPORT IMPORT IMPORT!
I see from next year could be a good time to buy. In the news HDB will taper bto releases from next year but taper does not mean ending it. If including this year's quota almost total 100,000 bto flats released in the last 4 years.
Also I asked around buyers are not paying anymore COV and it's reported in the news record number of seller are willing to let go under valuation. It doesn't say why but I'm guessing high chance they are over leveraged maybe they took out loans to buy 2nd or even 3rd property during the boom times hope to flip but now prices falling people trying to avoid the squeeze, looks like firesales.
It doesn't hurt to wait a few more months to see how things develop next year.
If more people are imported , then market will not crash. Most easy and brainless strategy.
(16-12-2013, 08:21 PM)sgd Wrote: [ -> ]I see from next year could be a good time to buy. In the news HDB will taper bto releases from next year but taper does not mean ending it. If including this year's quota almost total 100,000 bto flats released in the last 4 years.
Also I asked around buyers are not paying anymore COV and it's reported in the news record number of seller are willing to let go under valuation. It doesn't say why but I'm guessing high chance they are over leveraged maybe they took out loans to buy 2nd or even 3rd property during the boom times hope to flip but now prices falling people trying to avoid the squeeze, looks like firesales.
It doesn't hurt to wait a few more months to see how things develop next year.
Even my friend who has a HDB flat and had bought a 2nd property initially wanted to sell his HDB flat and keep his condo. But he changed his mind after I reminded him that it's not so easy to re-purchase a HDB flat after selling a private property.
SG property market still going strong going by Nov sales?
1228 units sold in Nov
compared to 1070 units in Oct and 1246 in Sep. This was largely due to the strong sales in Duo Residences. Many rich people in Singapore indeed! ABSD is like peanuts to them
(16-12-2013, 09:57 PM)yawnyawn Wrote: [ -> ]SG property market still going strong going by Nov sales?
1228 units sold in Nov
compared to 1070 units in Oct and 1246 in Sep. This was largely due to the strong sales in Duo Residences. Many rich people in Singapore indeed! ABSD is like peanuts to them
Sales were good because of good project locations. Sales not that good for outskirt projects.
Do not underestimate the number waiting at sideline, my agent said many riches from overseas r monitoring the price in Singapore. This is a gd safe place to park their excess money n store their assets. Sg is safe for people w money to park here.