Discussion : Singapore Property

[seiko.citizen]

your not the only country to suffer from it .

[louisoh]

Measures to cool property market needed to avoid drastic measures later: PM Lee

SINGAPORE : There may be no property bubble yet, but Prime Minister Lee Hsien Loong on Sunday said recent moves to curb speculation were necessary to avoid more drastic action later on.

Packed showrooms and fast-rising prices have become a concern for authorities, who introduced new measures on Friday to cool the property market before things got out of hand.

A Seller's Stamp Duty is imposed on all residential properties sold within one year of purchase, while loans from financial institutions are capped at 80 per cent.

At a Lunar New Year dinner at Teck Ghee in his constituency of Ang Mo Kio, Mr Lee said that while the government cannot control property prices, it can ensure prices remain affordable.

Mr Lee said: "Please take good care of it. Do not think of selling it prematurely, or making a quick buck. Because if you sell it and you can't find another house to stay or you do not have a nest egg for your old age, that is big trouble."

Mr Lee said that one's home is a long-term investment, whether as a buffer against old age, or to be passed on to one's children or grandchildren.

But this brought him to another concern - that Singaporeans are not reproducing enough.

Mr Lee noted that Singapore's low birth rate is a reflection of fundamental changes taking place across Asia.

The Total Fertility Rate fell to 1.23 last year - with the rate among Chinese Singaporeans even lower at 1.09.

In China for instance, some young adults even advertise for make-believe girlfriends and boyfriends to hold off family pressure over the Lunar New Year.

Mr Lee said: "It is amusing but it is also sad. I am relieved that I have not heard of any reports of boyfriends or girlfriends for rent in Singapore. I hope it does not happen. But I know that young people do feel some pressure."

Mr Lee added that some social pressure may be useful, but it is family support that will give young Singaporeans a nudge in the right direction.

[pet]

SINGAPORE : There may be no property bubble yet, but Prime Minister Lee Hsien Loong on Sunday said recent moves to curb speculation were necessary to avoid more drastic action later on.

Packed showrooms and fast-rising prices have become a concern for authorities, who introduced new measures on Friday to cool the property market before things got out of hand.

A Seller's Stamp Duty is imposed on all residential properties sold within one year of purchase, while loans from financial institutions are capped at 80 per cent.

At a Lunar New Year dinner at Teck Ghee in his constituency of Ang Mo Kio, Mr Lee said that while the government cannot control property prices, it can ensure prices remain affordable.

Mr Lee said: "Please take good care of it. Do not think of selling it prematurely, or making a quick buck. Because if you sell it and you can't find another house to stay or you do not have a nest egg for your old age, that is big trouble."

Mr Lee said that one's home is a long-term investment, whether as a buffer against old age, or to be passed on to one's children or grandchildren.

But this brought him to another concern - that Singaporeans are not reproducing enough.

Mr Lee noted that Singapore's low birth rate is a reflection of fundamental changes taking place across Asia.

The Total Fertility Rate fell to 1.23 last year - with the rate among Chinese Singaporeans even lower at 1.09.

In China for instance, some young adults even advertise for make-believe girlfriends and boyfriends to hold off family pressure over the Lunar New Year.

Mr Lee said: "It is amusing but it is also sad. I am relieved that I have not heard of any reports of boyfriends or girlfriends for rent in Singapore. I hope it does not happen. But I know that young people do feel some pressure."

Mr Lee added that some social pressure may be useful, but it is family support that will give young Singaporeans a nudge in the right direction.

gov of cos know ppl tulan prop price up...u think gov stupid ah....??

but sometimes tcss...hahahhaa

' government cannot control property prices ' .... ai or mai nia.. where got cannot...

' Do not think of selling it prematurely, or making a quick buck. Because if you sell it and you can't find another house to stay or you do not have a nest egg for your old age, that is big trouble. .....one's home is a long-term investment....' ....of cos they also know prop price up, ppl also cannot sell or make $$ cos, sell leow no where to stay.... prop increase jia lark for all ( well, not the elite, but the majority )

'Singaporeans are not reproducing enough' .. cannot afford house, how to hv kids...furthermore hse getting smaller.... siow, treat the roots lah... hmmmmm......but Sir, me going to hv 4th... i helping abit leh...can increase 4th child CDA to 18k or not....hahhaa hahahhaha

'I have not heard of any reports of boyfriends or girlfriends for rent in Singapore' .... ah oh, u start one for rent website loh... hahahhaa... recuit ppl for assignment

[surestik]

Looks like he gotten himself a new found talent : Able to do forecasting like his father. LMAO!!

[116520]

I am wondering why whatever our govt does, there are ppl who for sure not happy one?

[jazz_samz]

True but it's too little too late. Go up so high then wana put in measures. Then those who bought high, do u think they will be happy? Will they let the Market dip?

[116520]

Honestly, property DID went up but places like HK, Beijing, shanghai, etc also went up. The question of "too late" is arguable. If property goes up a little and govt starts all measures then can we catch up with other markets? Don't forget that we are living a free world.

I believe that it doesn't matter if you bought high, it matters if your property can never sell high.....

True but it's too little too late. Go up so high then wana put in measures. Then those who bought high, do u think they will be happy? Will they let the Market dip?

[triton]

bottom line is either way, someone makes money.

[pet]

true tht other country also up....i stay in private prop... private prop depend on market, can go hi...... but hor... public housing depend on gov... so it should within reach and controllable for majority......

me middle age.. of cos pay abit of attention to hdb frm 1990 to current.
some hdb things i notice ( i might be wrong in some cases .. correct me )

early 90s, bishan exe flat only 130k nia.

late 90s, 4rm jurong near mrt abt 130k nia.

90s build so many, also got new town. choices and supply alot. mainly 4 and 5 rm.

since 90s houses getting smaller

last 4 - 5 yrs, hdb up price give excuse and say subsidy = market resale less discount.

since 2005.. build alot of even smaller flats studio, 2rm,3rm.

last few yrs, alot of 'incoming' .. yet no increase in new flat.
if incoming buy resale... price up... hdb new price also up, since hdb base on market less subsidy..

current supply not enough to meet demand... look at the application rate over available for sale. hdb saying they building 10k to 15k ? if it's true, izzit enough ???

BTO flats ? wow lau... empty piece of land ( nice patch of grass ). ask ppl apply thn build... wow .. wait at least 3yrs...according to their bto condition ( possible up to 5yrs wait ).

notice eg. cantonment rd flats are release many many yrs bck.. and they release for sale again last yr ... same goes to queenstown, my frd got a flat ( 4rm at 300k 3 yrs back ).... they release again for sale at 400k 2yrs bck...Question is, why they release in phrase.... ?? trying to 'fry fry' market. public housing should not be use for speculation, but yet same blk and place, hdb delay release and up price ( according to market rate ??).... is hdb trying to make more $$. ... note: end last yr release another new place at queenstown.. min 460k to 550k leow

there's lotsa way to control prices, too many ways... so it's up to gov if they want of not...

guess boh bien, whn economy grows... too many new smart a$s implementing new funny ideas, desgn build, bto, options, flat type etc...

some of us are lucky to hv a roof over our head...but looking at below ave income earner... really jia lark....so bottom line like triton say, some1 make money... but hor at the expense of those who cant...cant afford to own 1 in the first place to make money... hahaha....

[triton]

you need to read in between the lines when i say someone.

so bottom line like triton say, some1 make money... but hor at the expense of those who cant...cant afford to own 1 in the first place to make money... hahaha....

[pet]

you need to read in between the lines when i say someone.

some1 = me, also make abit

but some big big 1 up there make even more

[116520]

Just a simple question, if supply is so limited, why I don't see many homeless people in sg as compared to other countries?

[pet]

Just a simple question, if supply is so limited, why I don't see many homeless people in sg as compared to other countries?

cos hor, all kanna arrrested ... hahahhaa

no lah, got rental mah

also cos not diff to own 1 mah... pay by the monthly force savings can leow ( cpf ) ... hahaa... but with price up, nothing left nia...hahaha

[116520]

True, but pet, how many of us are not "lifetime-slaves" to our houses??? Not only in sg, it happens in other countries like hk, jp, etc.

Some of you might not agree with me. Personally, I feel that property-ownership is not a social problem, homeless is a social problem.

cos hor, all kanna arrrested ... hahahhaa

no lah, got rental mah

also cos not diff to own 1 mah... pay by the monthly force savings can leow ( cpf ) ... hahaa... but with price up, nothing left nia...hahaha

[116520]

ha ha.... but arrest them need resources too...

cos hor, all kanna arrrested ... hahahhaa