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PR Newswire
08-10-2012, 10:58 AM
Money that goes into real estates normally does not yield much benefits for most of the populations.
It will force the property prices to go higher and rental to go higher. After that, the food prices and groceries' price will have to rise to offset the rental cost.
I do not particularly favour having the foreigners to invest in the local properties. I will prefer them to spend their money on hotels and service apartments if they wish to invest in local properties. At least, these properties create jobs and add values to economy.
It is also not helping that our government is also acting like a free market landlord for several years.
Somehow, they should rethink the linking the price of the resale flats and new flats. I am in favour of reducing the price of the new flats but increases the resale levy. The resale levy should be in percentage term of the gains above the price of the initial purchase price of the new flats.
The resale levy should be applied to all resale transactions.
It will help to balance the lottery effect of the HDB ballot system.
It will force the property prices to go higher and rental to go higher. After that, the food prices and groceries' price will have to rise to offset the rental cost.
I do not particularly favour having the foreigners to invest in the local properties. I will prefer them to spend their money on hotels and service apartments if they wish to invest in local properties. At least, these properties create jobs and add values to economy.
It is also not helping that our government is also acting like a free market landlord for several years.
Somehow, they should rethink the linking the price of the resale flats and new flats. I am in favour of reducing the price of the new flats but increases the resale levy. The resale levy should be in percentage term of the gains above the price of the initial purchase price of the new flats.
The resale levy should be applied to all resale transactions.
It will help to balance the lottery effect of the HDB ballot system.