Sing Holdings

[Behappyalways]

I think it is hard for inward looking Singapore property developers now. I read in the news that with the new EC requirements, an income of $10,000 would allow you to get a loan of $600,000. If land cost is around $350psf and build up cost around $250psf then a 1000 square feet EC unit will have a build up cost of $600,000. This meant that either the size of the unit have to come down a lot or that land cost got to come down a lot......

Lee might have to 'forgo' the property market for a few years and wait for opportunities while 'harvesting' the Waterwoods and Robin plot of land. Or look overseas......maybe it is time to delist and return cash.......

http://www.channelnewsasia.com/news/busi...18184.html

(waterwoods and skypark residences and the earlier ECs if I am not wrong are not affected by the resale levy for second-timer applicants...)

(II. Resale Levy for Second-Timer Applicants

5 Second, we will now require second-timer applicants who buy EC units directly from property developers to pay a resale levy, similar to second-timer applicants who buy BTO flats. The new requirement will be applied to EC land sales which are launched on or after 9 Dec 2013, including those where the tenders have not closed.

6 Currently, second-timer applicants who buy EC units directly from property developers benefit from the lower EC prices arising from the initial eligibility and ownership restrictions imposed on EC purchases. However, they do not need to pay a resale levy. The alignment of treatment with second-timer applicants who buy BTO flats will ensure greater parity. )