Number of returned condos highest in a year, says property research firm

[Temperament]

SG now is not far away from HK's cost of living but its still better in SG I find.

The tragedy is that with 6.9M, it's only a matter of time we get as squeezed as HKers.... Huh

So do you (Singaporeans) want to have a say on the above? Come 2015/2016 you have got your only chance. If you give away this one chance of yours, please, please don't ever complain about PAPY's steamrollers policies over you, ever again. Don't give them 2/3 majority in Parliament then maybe your "voice" will be heard in Parliament debates. Please don't throw away your only chance. Think it's for your children's and children's sake. Unless you are (so rich) planning to migrate soon. Like so many of the Rich CHINESE from China to all over the world.
50 years of steam-roller policies (that almost all benefit go to the elites and the PAPYs) should be more than enough for anyone, the workers.
We the underdogs.

[nathanmaloney]

CY,

I agree with you.

Our HDB model of housing is one bright spot in SG (though so many people are also gaming the HDB system). Many of my HK friends can only pray for HK govt to adopt this model.

HK and China will never be able to execute the HDB model. The HK govt is in cahoots with the big property developers and i doubt it will place normal citizen's welfare and needs over commerical interest.

For SG, I'm glad the govt has implemented so many cooling measures.

I actually looked at a few condos this year when I was back for CNY intending to buy something but I was shocked at the prices. True, not as horrific as HK but only 20% lower.

My agent was telling me to buy Tanah Merah condos at 1400 psf and she could tell me with a straight face that's not over priced. I then looked at HDBs and was told I needed to pay about 80K COV for Serangoon area.

Nothing wrong with condos going crazy because at the end of day, it's private property and someone was willing to pay those inflated prices.

But it leaves a bad taste in my mouth when HDBs can be gamed in such ways.

With those numbers, I fainted and decided to hold off buying anything until next year when I awake from my property coma.

Hi nathan, do not worry much about being squeezed that badly for housing in SG as compared to Hong Kong. In HK, it is prevalent for their citizens to live in subdivided flats and I have seen them. Sg too have subdivided units but they are not as common and mostly, those staying in subdivided flats in SG are Foreigners who come to work here and the landlords are owners of private apartments, HDB flats dun allow subdivision if I am correct

Singapore has a robust social housing policy in place which will prevent us from living in such cramped living conditions as in HK. But the private residential sector is not yet subjected to strict guidelines like HDB flats' dimensions. Right now, Hong Kong policy makers are considering taking SG model of social housing and their officials have made trips to HDB, URA and MND.

[etan]

Pte properties are also subject to URA regulations. I remember there was a case when my neighbour sub divide his condo into 7 partitions:
kitchen, dining rm, living rm (2 partitions)+ 3 existing bedrooms. The tenants had to use the common toilets downstairs near the swimming pool. The Mgmt put up a complaint to URA, in the end all the illegal partitions had to tear down. If I am not mistaken, i think it's 3 persons to a room x 3 b/r = 9 pax in total.

http://www.ura.gov.sg/dc/dcu/subletting.html

Approved residential properties are for long term stays. How do I know if a residential property is put to an inappropriate use?

1.Residential properties like apartments, flats, condominium units and landed houses are approved for residential purpose in accordance with the residential zone in the Master Plan. These residential properties or their individual rooms within the premises should not be rented out on a daily, weekly or monthly basis. Such short-term occupancy, with transient occupiers, creates disturbances and inconveniences to other bona fide residents in the development. Premises that are approved for residential use are for longer term stays of 6 months or more.


2.The leasing of residential properties (whole unit) or subletting of rooms for residential purpose should be for long term stays of 6 months or more by the same occupiers and the following requirements should be observed:

a.Refrain from constructing internal partitioning works to alter the layout of the residential premises to create more rooms as this will cause over-crowding and pose safety concerns. The original unit should still be used as a single dwelling unit even though it might be shared by a few tenants.


b.In the case of master tenancies or en-bloc leasing-out situations [e.g. where a single agent leases out several units in a development], there shall be only one single tenancy agreement per residential unit to cover the requisite number of occupants for the unit. This is to retain the residential character of the development. Separate leasing of independent rooms within a single residential unit on an en-bloc basis will constitute a material change in the use of the residential premises to a hostel or dormitory and is not allowed. However, this requirement of a single tenancy agreement per residential apartment unit does not apply to situations where a single property / individual flat owner leases out rooms within his unit to different tenants under separate tenancy agreements.


c.To prevent overcrowding and disamenity to the neighbouring residents, the maximum allowable occupancy of a residential unit (inclusive of the owner if he is living within the premises) shall be based on 10 sqm per occupant subject to a maximum cap of 8 occupants. This occupancy guideline does not apply if the entire unit is occupied by a family with no subletting involved.

Hi nathan, do not worry much about being squeezed that badly for housing in SG as compared to Hong Kong. In HK, it is prevalent for their citizens to live in subdivided flats and I have seen them. Sg too have subdivided units but they are not as common and mostly, those staying in subdivided flats in SG are Foreigners who come to work here and the landlords are owners of private apartments, HDB flats dun allow subdivision if I am correct

Singapore has a robust social housing policy in place which will prevent us from living in such cramped living conditions as in HK. But the private residential sector is not yet subjected to strict guidelines like HDB flats' dimensions. Right now, Hong Kong policy makers are considering taking SG model of social housing and their officials have made trips to HDB, URA and MND.

[mulyc]

JB is an area which Singaporeans should be very wary of. Security is the biggest concern there and Malaysian gahmen policies, while quite rosy towards Singaporeans now, could turn anytime.

Those who have been burnt before during the Clob era will know that there will be good times, and there will be bad times between neighbours. But when policies change, no matter how much you cry father cry mother also you won't get your money back.

Those who sold everything in Singapore and moved to Iskandar will be very exposed when the day comes when the Malaysian gahmen changes the rules of the game.

[CY09]

Hi Thanks for the update.

But I guess people have ways of dividing their rooms since it is stated as "refrain from" than the absolute word of prohibited etc. But I have just learnt a new rule and that is only 8 occupants per flat.

[koh_52]

[/quote]Excuse me, but if someone has 1.25 million SGD , wouldn't have better retiring in a cheap retirement place like Thailand or Cambodia rather than sinking it into a Singapore condo to continue the rat race ?
[/quote]

I like your call, those above 55 with no liabilities, hehe like me prefer this option...aiming for a safe, cooling, greenery, quiet, low cost of living with good medical facilities...Not Iskander hor, I have been telling others not to touch it unless it is dirt cheap, cos Malaysia law is very uncertain.

Immediately, after their election...Mud land hungry liao, want to fatten their pocket...

Johor to impose new property tax rate on foreign ownership

In fact many of the forumer pm me for opinion...and i always reply 1 word..No....
Stupid foreigners many kena daylight rob by them....the garment do nothings...Now the garment themselves also want to rob the foreigners.

Trust me...Johore has vast land, how your ppty can appreciate, fat hope and who one to rent from you, rental dirt cheap....some-more you will be short change by exchange-rate.

Consider Burma and Thailand...much better than mudland...after the CLOB incident you guy still never wake-up, good luck.

[Temperament]

Excuse me, but if someone has 1.25 million SGD , wouldn't have better retiring in a cheap retirement place like Thailand or Cambodia rather than sinking it into a Singapore condo to continue the rat race ?
[/quote]

I like your call, those above 55 with no liabilities, hehe like me prefer this option...aiming for a safe, cooling, greenery, quiet, low cost of living with good medical facilities...Not Iskander hor, I have been telling others not to touch it unless it is dirt cheap, cos Malaysia law is very uncertain.

Immediately, after their election...Mud land hungry liao, want to fatten their pocket...

Johor to impose new property tax rate on foreign ownership

In fact many of the forumer pm me for opinion...and i always reply 1 word..No....
Stupid foreigners many kena daylight rob by them....the garment do nothings...Now the garment themselves also want to rob the foreigners.

Trust me...Johore has vast land, how your ppty can appreciate, fat hope and who one to rent from you, rental dirt cheap....some-more you will be short change by exchange-rate.

Consider Burma and Thailand...much better than mudland...after the CLOB incident you guy still never wake-up, good luck.
[/quote]
Which part of Thailand? Bangkok? Chiangmai? or ?

[specuvestor]

I have to say that I disagree with the oft quoted reason of: Malaysia is so big. Australia is alos big but sydney prices are high. So is New York in USA. LOCALITY plays a big part in property prices. And the reason why Iskandar is interesting because basically 1) people give up on JB and starting anew in Iskandar with supposedly better security 2) Property buying overflows from Singapore to Iskandar as prices here becomes ridiculous

Any oldtimers will tell you Malaysia is a bad property play because of all the rules change and no rental income. I agree with the history but we also should see if things are changing. If connectivity including MRT and political climate had changed then I think it is worthwhile to take a look. We of course should be mindful of the REASONS why there is no rental in Johore and that land prices are cheap, which has implications on maintenance. Location, connectivity to Singapore and Management of estate is very important for Johore investment

[shareinvestor1]

Iskandar main advantage from other countries is it is just 45min drive from Singapore between 9 to 5pm.

If anything longer than that and require taking plane, living in thailand make not much difference as compared to living in USA, Australia, Europe, Nepal etc etc which at the end, one will seldom have the chance to use if his root is still in Singapore..

Excuse me, but if someone has 1.25 million SGD , wouldn't have better retiring in a cheap retirement place like Thailand or Cambodia rather than sinking it into a Singapore condo to continue the rat race ?

I like your call, those above 55 with no liabilities, hehe like me prefer this option...aiming for a safe, cooling, greenery, quiet, low cost of living with good medical facilities...Not Iskander hor, I have been telling others not to touch it unless it is dirt cheap, cos Malaysia law is very uncertain.

Immediately, after their election...Mud land hungry liao, want to fatten their pocket...

Johor to impose new property tax rate on foreign ownership

In fact many of the forumer pm me for opinion...and i always reply 1 word..No....
Stupid foreigners many kena daylight rob by them....the garment do nothings...Now the garment themselves also want to rob the foreigners.

Trust me...Johore has vast land, how your ppty can appreciate, fat hope and who one to rent from you, rental dirt cheap....some-more you will be short change by exchange-rate.

Consider Burma and Thailand...much better than mudland...after the CLOB incident you guy still never wake-up, good luck.
[/quote]
Which part of Thailand? Bangkok? Chiangmai? or ?
[/quote]

---

Agree completely.. got to be careful.

However buy weekend house with spare cash for own use if one really like it is fine. Buy for rental yield is ???? Not sure what kind of protection is there is people don't want to pay..

JB is an area which Singaporeans should be very wary of. Security is the biggest concern there and Malaysian gahmen policies, while quite rosy towards Singaporeans now, could turn anytime.

Those who have been burnt before during the Clob era will know that there will be good times, and there will be bad times between neighbours. But when policies change, no matter how much you cry father cry mother also you won't get your money back.

Those who sold everything in Singapore and moved to Iskandar will be very exposed when the day comes when the Malaysian gahmen changes the rules of the game.

[CY09]

This article reminds me of the country risk for whatever investments you are making in. Any policy changes will affect investment. So as investors we should always be aware of the country/political risk

Singapore has political risk for prop investments. In fact, the govt can buy back your property anytime by enacting the land acquisition act.