joon

Affordability of HDB flats was raised in parliament today. First impression is answers are standard FAQ and pretty "lame". Then I realise that the questions raised were ... sigh ... standard question - - which of course explained rehearsed answers. & of all precious airtime, decide to focus on COV. What do you expect the government to do with this? Stop COV & perhaps ... drive all underground market exchanges? I was disappointed 'cos I do not think it addresses the concerns of people 1. With the rising population/new immigrants, how do we give Singaporeans priorities? 2. How do we address new couples whom want to stay near their parents (for practical family planning reasons) but finds matured estates' pricing out of reach or so close to private estate? 3. How can govt help low income family group earners <2k to realise dream of owner a house instead of 1 room rental?

Here's what was announced today 1. Immediate withdrawal of interest absorption scheme - WILL WORK and hit new condo buyers 2. Immediate withdrawal interest-only loans being offered for purchases of uncompleted property developments - IMPACT not high 3. Bringing back the confirmed list of the Government Land Sales (GLS) programme - Dont know enough to comment. In any case, if this is a "assuring-supply-hence-balance-demand/price equilibrium", has not proven to work so far. Govt has repeatedly stressed that there are more than enough supplying market earlier, but buyers still go crazy... Here's what I would think will help BURST/COOL the strange buying frenzy to bring us in line with the economic situation ** Immediate withdrawl of 10% downpayment/90% loan => revert to 20% downpayment (exception to 1st time home owner) ** Regulate bank's property loan amount to reduce exposure

Good news is I dont think you will miss the boat. If you read today's Straits Times, you will know where the irony is. (A) "A Merry May for home sales. Figure at near\record level, with prime areas doing particularly well" (B) "Dismal Q1 job market ... the worst since Sars ... net loss of 6,2000 far worse than the 1,000 estimated end Apr by Ministry of Manpower" Interestingly (A) is featured prominently on front page and (B) is 3rd page.

Google Colliers & Knight Frank auctions. But zirhk3355 is right - u may be disappinted if u r looking at bargain prices. There's this same semi-d unit i knew with owner asking for 1.5-1.6mil around last year but now under auction for about 2.2-2.4mil. Either previously sold and now owner looking at earning quick profits or owner simply trying luck at auction to fetch good price. I think the auction price may be more realistic if it's a bank sale than a mortgagee/owner sale?

Property market warning Analysts point to over-supply and weak rental demand By Joyce Teo THE optimism in Singapore's property market is unsustainable, given an impending over-supply of new flats, weak rental demand and the fact that the country remains in a recession. That is the pessimistic view of two research houses, which concluded that the price recovery is highly fragile. Citigroup said the market is not at the start of a cyclical upswing and that the spike in home prices cannot last. 'We caution against over-optimism, because fundamentally the market is not ready for a sustained price recovery,' analyst Wendy Koh wrote in a report on Thursday. In the same report, she downgraded Allgreen to 'sell', putting the developer in the same 'sell' basket as City Developments, CapitaLand and Keppel Land. Citi also downgraded Wing Tai to 'hold'. While there has been strong resale demand, the call for new homes is patchy and rental demand remains weak, Ms Koh said. Resale prices of some projects have risen and some developers are reducing discounts for new projects but Nomura Singapore believes these seemingly positive factors are misleading. It maintained that the demand for new homes was boosted by price discounting and the interest absorption scheme. 'A rapid deterioration in rents amid higher supply and weaker demand has undermined yield expectations,' it said. Nomura also pointed to the damaging effect of rising unsold inventory and forced sales by defaulting or distressed buyers who bought on deferred payment. These properties form a source of 'hidden' inventory that will place further pressure on asking prices. Read the full story in Satuday's edition of The Straits Times

Any advice on whether wall can be erected to block the electromagnetic waves from electrical relay station / power generator next to the pte house? If yes, what kind of materials should be used and how tall should this wall be raised?

Can advise what's the typical budget I should be looking at?

Bank valuations are dropping and changing every month. Out of curiousity, anyone been asked by banks to top up the difference despite having good repayment/credit records?

Cool! Keep learning new things here. Can I clarify if must meet BOTH 1 & 2 criterias or either one will do?

Do you know if it'll be easy or diifficult to justify to HDB (after fulfilling the occupation period)?

Hi zirhk3355, HDB requires you to stay in the HDB even if you own the private property. If you continue to own the HDB, your property property purchase is considered investment property (2nd property). Bank loan for 2nd property now is tightened to only 75% of the total purchase/valuation (whichever is lower). Note property tax is 10% instead of 4% if you are not residing in the property as well.

leechaorui, you have been most helpful and detailded - THANKS!! (& I agree with fanguojun, your utilities bills are amazingly low or comparatively mine is extremely high Dont mind, can you also advise mortgage protection amount (insurance)? I am also hunting for the best mortgage deals in town. Any comments? How about HSBC Smartmortgage or Stanchart packages?

Hello landed property owners, I am a HDB upgrader planning to own a landed terrace property. Can you share with me your regular monthly expenses (approx) to help with my planning eg Pest Control? Refuse Charges? SCV charges? PUB bills (pls indicate sqft/rms) Security Network? Others not listed THANKS!