therat 18 Report post Posted February 19, 2010 http://business.asiaone.com/Business...19-199777.html Govt announces measures to cool private residential market Fri, Feb 19, 2010 The Straits Times THE Government has announced what it called two 'calibrated' measures to cool the exuberance in the private residential market and prevent a property bubble from forming. From Saturday, it will introduce a seller's stamp duty on all residential properties and lands that are bought after today and sold within one year from the date of purchase, and lower the housing limit to 80 per cent of the total purchase price. These new steps came less than six months after the Government introduced a set of measures to temper the exuberance in the private residential market last September. Click here to find out more! Rules won't hit HDB flats THE just-announced seller's stamp duty, which will be imposed on all residential lands and homes bought before Saturday and sold within a year, will not apply to Housing Board flats, said the Government on Friday. This is because HDB flats are already subject to a minimum one-year occupation ruling. The Government said the new tax measure is to 'discourage short-term speculative activity that could distort underlying prices', and it is not targeted at the purchase of properties for owner-occupation or longer term investment. More HDB downpayment HOUSING Board (HDB) flat buyers taking private bank loans for their purchase will now have to fork out more cash for the downpayment on their homes. The Government has lowered the home loan amount that buyers can borrow from banks from 90 per cent to 80 per cent of the total purchase price. The new 80 per cent rule, also known as the loan-to-value (LTV) limit, will apply to both private and public flats. - Jessica Cheam Share this post Link to post Share on other sites
Phantom 1 Report post Posted February 20, 2010 http://business.asiaone.com/Business...19-199777.html Govt announces measures to cool private residential market Fri, Feb 19, 2010 The Straits Times THE Government has announced what it called two 'calibrated' measures to cool the exuberance in the private residential market and prevent a property bubble from forming. From Saturday, it will introduce a seller's stamp duty on all residential properties and lands that are bought after today and sold within one year from the date of purchase, and lower the housing limit to 80 per cent of the total purchase price. These new steps came less than six months after the Government introduced a set of measures to temper the exuberance in the private residential market last September. Click here to find out more! Rules won't hit HDB flats THE just-announced seller's stamp duty, which will be imposed on all residential lands and homes bought before Saturday and sold within a year, will not apply to Housing Board flats, said the Government on Friday. This is because HDB flats are already subject to a minimum one-year occupation ruling. The Government said the new tax measure is to 'discourage short-term speculative activity that could distort underlying prices', and it is not targeted at the purchase of properties for owner-occupation or longer term investment. More HDB downpayment HOUSING Board (HDB) flat buyers taking private bank loans for their purchase will now have to fork out more cash for the downpayment on their homes. The Government has lowered the home loan amount that buyers can borrow from banks from 90 per cent to 80 per cent of the total purchase price. The new 80 per cent rule, also known as the loan-to-value (LTV) limit, will apply to both private and public flats. - Jessica Cheam Yeah.. i got wind of it yesterday.. shouldn't come to much surprise though... somethng like these was already in the making while back.. Share this post Link to post Share on other sites
