Jump to content
Find Professionals    Deals    Get Quotations   Portfolios
Sign in to follow this  
Warrior88

Hdb Ups Mop For Resale Flats To 5 Years

Recommended Posts

Looking for good contractors? Click here for your request
The Properties for Sale portions in ST Classifieds yesterday and last Sat were much thinner. There were only 3 pages of Properties for Sale in yesterday papers :P

Even those adverts did not state the COV. Guess everyone is wondering what is the reasonable COV now :unsure:

 

Share this post


Link to post
Share on other sites

gimz63251073 : cannot dun allow PR to buy..

You want the price to fall.. not crush!

Singapore only 3.5 mil ppl.. foreigner and PR is 1.5mil.

If you say PR cannot buy, effective you take out 25% of the owners.

 

Share this post


Link to post
Share on other sites
At the risk of sounding silly, I just want to clarify one point which I don't fully understand.

What it means is that two PR siblings can combine together to buy a re-sale, but the same does not apply to Spore citizen? Means if i want to combine with my bro/sis to buy I can't? Whaaa, if that's the case then the rule is yet another miserable showcase of the lack of logic at the top.

Am I understanding it correct? it simply doesn't make sense to me personally. Sorry myself still quite young and there are so many regulation here and there and every few months also change, how can anyone except for a house agent keep up.

Think the rule is quite similar, PR siblings cannot buy resale if parents is PR or Singapore citizen and residing in Singapore(SPR Siblings Scheme)...... More or less same Singapore (Orphan scheme).

Both can start buying, both can buy from age 21.

 

Share this post


Link to post
Share on other sites
gimz63251073 : cannot dun allow PR to buy..

You want the price to fall.. not crush!

Singapore only 3.5 mil ppl.. foreigner and PR is 1.5mil.

If you say PR cannot buy, effective you take out 25% of the owners.

well the govt has total discretion on hdb pricing, the new hdb launched sets the baseline as we all realise.

they can control demand (by setting rules as to who can buy) and supply (by deciding how much to build). And i do believe that they prefer housing prices to increase, too many reasons to list down already.

however, as a citizen who desires to own a house, its best for prices to stay low. So the obvious conflict of interest is there.

if PRs are taken out of the picture, they would have a lot more problems to deal with. So they rather push the problem to us and let us deal with increasing prices by coming out with statistics to prove their point.

But now is wayang time as we all know it, so rest assured, it is in their interest to keep proping up housing prices as people like their house to keep going up in value even though they have no intention of selling it.

 

Share this post


Link to post
Share on other sites

Micro economics is very interesting in terms of consumers behaviour.

Suddenly, you see all the HDB resale buyer/seller dissappear in the market, due to what simi "invisible hand". Guess only then we will know who are the genuine ppl. Guess ppl still got a "SHELTER" now, only not their "IDEAL" one :)

 

Share this post


Link to post
Share on other sites
Micro economics is very interesting in terms of consumers behaviour.

Suddenly, you see all the HDB resale buyer/seller dissappear in the market, due to what simi "invisible hand". Guess only then we will know who are the genuine ppl. Guess ppl still got a "SHELTER" now, only not their "IDEAL" one :)

Don't know the resale valuation bodies got conspire with HDB or not. Or "give face" to HDB's policy, purposely "down" the new valuation of houses. Hougang EM kena?

What I know of pte banks now "tightening the belt" purposely and down the valuation price to sing the same song with gov. Baywater, ground floor one unit owner refinance - valuation = $100k less that unit next door just sold.

Edited by bepgof
 

Share this post


Link to post
Share on other sites
Don't know the resale valuation bodies got conspire with HDB or not. Or "give face" to HDB's policy, purposely "down" the new valuation of houses. Hougang EM kena?

What I know of pte banks now "tightening the belt" purposely and down the valuation price to sing the same song with gov. Baywater, ground floor one unit owner refinance - valuation = $100k less that unit next door just sold.

Generally, the valuation should not have gone down yet.

Actually i was looking at the HDB webby for the resale prices up to Sep 15, some rich bugger purchased a unit at my block for 556k, the few units before him was only 480-490. So technically, the valuation should still go up unless as what you say, the valuers "follow" the new HDB directions.

 

Share this post


Link to post
Share on other sites

1- Valuations of properties are NEVER done by banks but rather, 3rd party valuers

2- Most private banks do not have mortgage businesses. Some like DBS, UOB or OCBC/Bank of Singapore ride on their retail mortgage divisions. On rare occasions a private bank might allow the client to pledge an unencumbered private property and offer a facility.

3- Different valuation companies/valuers might have a different way of assessing the value of a property. Generally an average over a few valuations provide a better estimate.

 

Share this post


Link to post
Share on other sites
Generally, the valuation should not have gone down yet.

Actually i was looking at the HDB webby for the resale prices up to Sep 15, some rich bugger purchased a unit at my block for 556k, the few units before him was only 480-490. So technically, the valuation should still go up unless as what you say, the valuers "follow" the new HDB directions.

Hi, i thought that the HDB resale prices are a reflection of resale prices agreed and transacted 3-4 months back. E.g After 1st + 2nd appt. Therefore, what reflected in SEPT are prices agreed in MAY/JUNE and all was before measures introduced on 30 AUG. Come NOV and DEC we may see the actual corrections in both COV and valuation prices. Personally, I felt that recent measures could give valuers a breather as excess liquidity in the form of COV are blocking us to see market's true valuation.

 

Share this post


Link to post
Share on other sites
Hi, i thought that the HDB resale prices are a reflection of resale prices agreed and transacted 3-4 months back. E.g After 1st + 2nd appt. Therefore, what reflected in SEPT are prices agreed in MAY/JUNE and all was before measures introduced on 30 AUG. Come NOV and DEC we may see the actual corrections in both COV and valuation prices. Personally, I felt that recent measures could give valuers a breather as excess liquidity in the form of COV are blocking us to see market's true valuation.

wat u say is true. hard to believe 2 weeks they can declare cov already come down.

 

Share this post


Link to post
Share on other sites

Good news (From GOV point-of view) must announce quickly....such as how COV "appearently" has dropped!This not backed by research but just what Mr ABC from XYZ housing agency say. Must make 1st time Singaporean buyer feel happy what. So can justify that the new policies work!

Not so good news such as how re-sale prices have increase once more (despite the policies), this one back with REAL statatics, must then try to hide behind the information. For example can say that the new price increase is smaller than the previous Quarter. From 4.1% to 4%.

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • advertisement_alt
  • advertisement_alt
  • advertisement_alt
Aura Sink download renotalk renovation guide


×