Singapore property market

Singapore toughens rules on buying second homes

So, do you still think the Govt has no impact on property market?

Extracted info from Yahoo

Some of the significant changes?
To summarise, the latest round of anti-speculation measures for private properties are as follows:

* Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current one year to three years.
* Increase the minimum cash payment from 5 percent to 10 percent of the valuation limit and decrease the Loan-to-Value (LTV) limit for housing loans granted by financial institutions regulated by the MAS to these buyers from the current 80 percent to 70 percent for property buyers who already have one or more oustanding house loans at the time of the new housing purchase.

The changes for HDB flats are as follows:

* Increase the Minimum Occupation Period (MOP) for non-subsidised flats to 5 years.
* Disallow concurrent ownership of both HDB flats and private residential properties within the MOP.

Complete list of changes can be found at www.mnd.gov.sg and www.hdb.gov.sg.

Long long time ago, I was playing mahjiong at a friend’s house. Her cozy and lovely home is at Micasa. Situated in woodlands, built like a water paradise, it is indeed a unique architecture in comparison with other boring condo designs. It doesnt even feel like a residence. It looks like a resort with it’s Greek-like design.

It was an EC and my friend even has the $30K grant. As for the price, I’ll just say it’s very worth it for the sq metres. For the living room and master room was pretty big in comparison with other normal condo rooms. If you’re okie with the location, entitled to the grant, loves big rooms then it will be a lovely home for you.

Naturally, the topic drifted to the property segment especially with the other friend being a prided property agent. And she was really enthu with the topic. I wasnt really interested in the topic, not that I have a lot to share anyway….I mean..I’m relaxing with mahjiong on a weekend mah. So to prevent myself from looking like an anti-social, money-sucker mahjiong player who only stares at her tiles, I merely tossed a comment, “No matter how well or how bad the property market is, just 1 statement from the government can turn the tables.”

Their “surprised” look surprised me. I thought, this was pretty obvious?

Anyway, I’m not surprised the property agent friend did not agree with me. Well, she often, more or less, disagrees with people for the sake of disagreeing. Hahaha, okie, might be a misconception. But still, I was pretty surprised when the objective host disagrees with it too.

They said, “There’s only so much they can control. ”

Hmmm…………..I didnt say more. I dont like to debate, especially on weekend over a mahjiong session.

I shant say much here too. Dont wish to be Xth dumb-ass who got jailed for saying inappropriate things on blog. Call me coward. =)

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