Time may be right to tweak property curbs: CDL chief

[CityFarmer]

I have merged several relevant and similar threads into one thread.

Here is the response from gov. So the cooling measures continue...

Too early to start relaxing property cooling measures, says Tharman

SINGAPORE — While the chorus of voices calling for property cooling measures to be relaxed has been growing bigger and louder in recent weeks, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam yesterday said it is too early to begin doing so.

The cooling measures were put in place to help moderate the property market and prevent prices, which had been rising over the past four years, from getting “too far out of line” with income levels, said Mr Tharman.

“We are not engineering a hard landing. But neither are we able to eliminate cycles in the property market, with upswings in prices in some years followed by corrections. Given the run-up in prices in the last four years, it is too early to start relaxing our measures,” he said.
...
http://www.todayonline.com/singapore/too...ys-tharman

[pianist]

think this govt will like the same monkey see monkey do..they won't be a step ahead of hk govt.

[opmi]

PAP govt is earlier of HK govt in the cooling measures.
In fact, HK govt copy PAP govt.

[Freenasi]

If the de-linking of HDB price to resale price is to persist, the landscape of rising HDB prices may come to a pause. Nex step that gov may wan to review is the policy on staying in private and renting out HDB.

[chialc88]

Exactly!!!

No relaxing of property curbs means continued weak market: Analyst -Today by Lee Yen Nee

Mr Ku Swee Yong said:"
The market is trending downwards, but not fast enough - it's a gradual downtrend.
But COV is going down very quickly and there are now more cases of -ve COVs.
If valuation also falls quickly, it might actually kick-start the process for )the Gov) to make changes."

Mr Tharman also said the property market would be closely monitored in the coming quarters and, if necessary, adjustments to the cooling measures would be made.

Love Compassion


A Life not Reflected is a Life not Worth Living.

[Temperament]

Due to foresee circumstances (aka 2015/16 GE), strange things can happen in the local context regardless world economical climate. You don't believe? i do. Just continue watching lol!

[Freenasi]

In longer term, will valuation be affected by falling cov, or the other way round. Does anyone know how is cov being calculated by a evaluator?

[godjira1]

In longer term, will valuation be affected by falling cov, or the other way round. Does anyone know how is cov being calculated by a evaluator?

is this a trick question?
evaluator assigns "fair value" to a property based on other nearby transactions, adjusted for condition of house, location, floor, etc. Which will be benchmark used by hdb or bank for LTV purposes. then buyer/seller can trade anywhere around that "valuation". If over = cov, because by definition you won't be able to borrow that.

[Investmentrealm]

In longer term, will valuation be affected by falling cov, or the other way round. Does anyone know how is cov being calculated by a evaluator?

Evaluator only provide the valuation based on many factors including last transacted price near the area. Cov is based solely on how seller and buyer neg the price. selling below Cov would only mean future valuations for that area will drop. It doesn't have impact to seller or buyer.

If a 99 leasehold condo at sengkang is still going for 1000psf... I doubt the cooling measures will be removed anytime soon. Just my thoughts....

[pianist]

but rivertrees by fraser far eastern and that riverwoods by uol, 1000psf is supported by the upcoming mall, seletar aerospace hub and the new sengkang mega hospital..

if these 99 yo leasehold private condo is dropping below 1000psf, it will makes half of those committed to buy the total units there look like a clown or carrot head?