Property Market Sentiments

Foreign investors were buying when prices were higher and yields lower. The cash and tax is the differentiator

Yeah property developers can cut prices instead of lamenting that Singapore do not attract "investment" (translate: hot money) when we are still 2nd in asia prices behind HK. OTOH high cost of factors of production is a real threat to our competitiveness, which includes high property price

(02-07-2014, 12:13 AM)Contrarian Wrote: > No reason to change course at least till after next GE since housing affordability was a hot issue and remains a touchy one...

MND already relax the deleveraging plan early this year.

Foreign investors are not buying because of high prices, low yields and higher cash requirements.

MCL Land cut price by 10% on Hallmark and it sold 50%. So CDL boss and other developers can relax their selling prices and move the units and avoid paying penalty on empty units!

I was running through the transactions from below link.

TheEdge - Done Deals

Can't help but notice the transaction on The Orchard Residence which shows a buyer with HDB address buying the $10 mil property. Wondering if IRAS will investigate.

(04-07-2014, 01:19 PM)egghead Wrote: I was running through the transactions from below link.

TheEdge - Done Deals

Can't help but notice the transaction on The Orchard Residence which shows a buyer with HDB address buying the $10 mil property. Wondering if IRAS will investigate.

It is uniquely Singapore. I reckon it is not rare, with big BMWs, and Mercedes around in HDB flat...

As example, Sheng Siong boss, Mr Lim Hock Chee previous home was a HDB 5-room flat in Hougang. I doubt Mr. Lim is under-declaring his income tax...

(04-07-2014, 01:19 PM)egghead Wrote: I was running through the transactions from below link.

TheEdge - Done Deals

Can't help but notice the transaction on The Orchard Residence which shows a buyer with HDB address buying the $10 mil property. Wondering if IRAS will investigate.

keep for FengShui reason?? Despite going to pay more property tax. (IRAS assess HDB- primary resi / OR - investment prop)

(04-07-2014, 01:19 PM)egghead Wrote: I was running through the transactions from below link.

TheEdge - Done Deals

Can't help but notice the transaction on The Orchard Residence which shows a buyer with HDB address buying the $10 mil property. Wondering if IRAS will investigate.

There can be many possibilities:

1. A rich Singaporean who downgrade to HDB after selling off his pte properties few years back. Now he getting back to pte properties after the 5yrs period.

2. A rich Singaporean/PR who is renting a HDB, while renting out all his private properties, thus having a HDB address.

3. A rich PR, or new Singaporean, who bought a HDB 5yrs ago (maybe the Bishan or Queenstown $1M HDB), now seeking to upgrade

4. He just strike a multi-million lottery...

5. Can't be bothered to change his "P.O. Box"?

http://www.businesstimes.com.sg/premium/...n-20140705

PUBLISHED JULY 05, 2014
Property prices could dip further: Tharman
BYJAMIE LEE
leejamie@sph.com.sg @JamieLeeBT

DEPUTY Prime Minister and Finance Minister Tharman Shanmugaratnam has raised the possibility of a further correction in property prices. He told a conference yesterday: "I think further correction would not be unexpected."
He told a conference that Singapore had responded early enough to raging property prices with a set of cooling measures, but added that a crash in the property market was unlikely.
On the subject of keeping track of the market, he called for more emphasis on monitoring banks. "I don't want to quarrel with the Basel recommendations. They are basically in the right direction; they are good for the long term.
Subscribers, log in here to read the full story. If you do not have an account, subscribe here.

(06-07-2014, 08:51 AM)greengiraffe Wrote: http://www.businesstimes.com.sg/premium/...n-20140705

PUBLISHED JULY 05, 2014
Property prices could dip further: Tharman
BYJAMIE LEE
leejamie@sph.com.sg @JamieLeeBT

DEPUTY Prime Minister and Finance Minister Tharman Shanmugaratnam has raised the possibility of a further correction in property prices. He told a conference yesterday: "I think further correction would not be unexpected."
He told a conference that Singapore had responded early enough to raging property prices with a set of cooling measures, but added that a crash in the property market was unlikely.
On the subject of keeping track of the market, he called for more emphasis on monitoring banks. "I don't want to quarrel with the Basel recommendations. They are basically in the right direction; they are good for the long term.
Subscribers, log in here to read the full story. If you do not have an account, subscribe here.

responded early meh??? Thot MAS is quite slow in plugging loopholes like co-guarantors, loan tenure based on youngest borrowers, loose credit underwriting (differs from bank to bank) etc,

Who in the right mind would buy a residential property right now?
Unless it is for own use and the timing is such that you need it now.
Those in banking would know, the TDSR has a far reaching impact on affordability.
It also affects re-financing. In short, the tap is turned off even for many people who CAN afford to pay and with excellent payment record and a relatively high net worth.

Chance of residential property price falling further over the next year or so : 99%
Chance of appreciation : 1%

(07-07-2014, 01:07 AM)Big Toe Wrote: Who in the right mind would buy a residential property right now?

TDSR has a far reaching impact on affordability.

Agrees with bigtoe that TDSR has a far reaching impact.
Q1: Is TDSR here to stay or are we expect it to be lifted as property starting to cool?
aka is TDSR a permanent or temp measure?

Q2: At 60%, do you feel that it's prudent enough or too relax?

Q3: Are you expecting MAS to move TDSR up to says 80% or down to say 40%?

Q4: If MAS moved TDSR to says 80%, what will happens to ppty price?

Lastly, will you still be able to afford to buy your dream home when TDSR is 40%?

I felt that everyone has their unique financial and risk profile.
It's not possible to apply a general recommendations to anyone.

This likely will be my last post on property in VB.COM as something had pop up that need my attentions.

"Things do not change, we change." - Henry

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