Averting a property bubble

[sgd]

singapore dun allows dual citizenship.

I'm not sure about this but US allows dual citizenship and say they offer you citizenship if you dun own up to singapore ica in the first place will they still able to find out?

[cfa]

There are many sporeans live in Australia holding 2 passports, they only use spore passport when they need to go thru spore ICA.

[Bibi]

singapore dun allows dual citizenship.

It is not that Spore dont allow dual citizenship. This priviledge only applies to pp who have made significant contribution to Spore.

[Contrarian]

Are you a Singaporean or foreigner with a PR?

Some countries are flexible in re stating the citizenship .

Can I denounce and and join back as Singapore citizen years later? Anyone can advice ?

> he said never challenge the S'pore gov policy. If the gov wants the property price to go down, they really meant it and will see to it.

He is just another investor. I have met him at AGMs... nothing great his questions.

Singapore govt will ALWAYS welcome people buy homes. The higher price the better. Because it means they will have less chance run away.

There could be more Singaporean ICs handed out... Some PRs will become Singaporeans... and that's their intention too... :-)

I didnt figure this out. A taxi driver I met said this... He is sharp at reading the possible outcome of the measures :-)

[corydorus]

Thanks for sharing Cory.

I was just computing from my today blogging and realized that the damage is not that bad.

Do your own sum as i am not an expert but just sharing my thought.

Cory Blog on Interest Rates on Housing

Using an example of 1M condo so a HDB impact should be much smaller.

At 1.5% rate, monthly payment : $3,860
At 3% rate, monthly payment : $4,437 (up 14.9%)
At 5% rate, monthly payment : $5,280 (up 32%)


Cory

I use an online tool to do this calculation. And i also did a manual comparison table. They come pretty close. Do check with your banker.

[CityFarmer]

I was just computing from my today blogging and realized that the damage is not that bad.

Do your own sum as i am not an expert but just sharing my thought.

Cory Blog on Interest Rates on Housing

Using an example of 1M condo so a HDB impact should be much smaller.

At 1.5% rate, monthly payment : $3,860
At 3% rate, monthly payment : $4,437 (up 14.9%)
At 5% rate, monthly payment : $5,280 (up 32%)

Cory

I use an online tool to do this calculation. And i also did a manual comparison table. They come pretty close. Do check with your banker.

A table used when assessing the monthly repayments. It is base on monthly rest and round-up to tenth.

For 30 years loan, loan value of 1M, the monthly repayment are
At 1.5% rate, S$3450
At 3% rate, S$4220
At 5% rate, S$5370

Pretty close to your numbers.

[Contrarian]

If The property value drop... bank has right to ask for loan top-up... that's the killer

[corydorus]

Any idea how common do bank really do this ?

[specuvestor]

Standard procedure when negative equity. Nightmare back in SARS but not much in 2009. Back in SARS about 60% of HK property were negative equity, but in Singapore some banks refrained. Those were the days when Mah had loads of HDB flat to sell you on the fly

[corydorus]

I mean how many cases where bank literally possess back the property or request for top up ?