New Hdb Rule!

[Phantom 1]

Yah!, 3 yr, might be extended to 5 years if mkt "hot" again. Imagine average 8.1% gains in resale(2009jan - 2009dec). CPI and salary increase where got so fast!

MOP doesn't have a huge impact imho. I've seen a couple of empty units that aren't even rented out for years, owner gets someone to come in every 2 weeks to a month to just clean up.

[captaincoby 0]

MOP increase will not have any impact on the sale price of the flat i feel, maybe in 1 to 2 mths, due to "standard" singaporeans response, the price might dip a bit, but it will continue to rise. Problem is, eventhough garment is trying to curb the no of PR here, the damage is already done, meaning to say the existing PR is SIngapore is already in adundance and the demand will not be dropping anytime soon. for any new policy handed down, u can see the impact only in 5-10 years time.

the move by garment is more to curb speculating buying, but genuine PR buyers will still need to buy HDB, so voulme of sales might decreasre a bit but just marginal i guess. there are still many PR out there looking for HDB flats. But those who buy flats for speculation purposes, ti ill defintely affect them, which is a good thing. those resale homeseeker will defnitely welcome this move but dun expect a drop in COV anytime soon, even if there is, it will be marginal.

Edited March 6, 2010 by captaincoby

[Phantom 1]

MOP increase will not have any impact on the sale price of the flat i feel, maybe in 1 to 2 mths, due to "standard" singaporeans response, the price might dip a bit, but it will continue to rise. Problem is, eventhough garment is trying to curb the no of PR here, the damage is already done, meaning to say the existing PR is SIngapore is already in adundance and the demand will not be dropping anytime soon. for any new policy handed down, u can see the impact only in 5-10 years time.

the move by garment is more to curb speculating buying, but genuine PR buyers will still need to buy HDB, so voulme of sales might decreasre a bit but just marginal i guess. there are still many PR out there looking for HDB flats. But those who buy flats for speculation purposes, ti ill defintely affect them, which is a good thing. those resale homeseeker will defnitely welcome this move but dun expect a drop in COV anytime soon, even if there is, it will be marginal.

yup.. i agree.. just saw a 4room in MP asking for 65k COV. another one asking for 50k original condition...

[bepgof 20]

Quite surprised no rule announced as to "subletting', especially to those who hold pte pty concurrently. Guess that gov "reserves' this powerful tool till last....

Edited March 6, 2010 by bepgof

[tweetie76 0]

I manage to find the info on HDB site. You are not affected by the new policy! Luckily you bought your new house earlier.

Please read the page:http://www.hdb.gov.sg/fi10/fi10296p.nsf/Pr...6C?OpenDocument

"Implementation Date

The revised second loan policy is implemented with immediate effect as follows:

Transaction Types | Cut-Off Date

Purchase of New Flats or DBSS Flats | Date of booking of flat and HLE Application received by HDB on or after the date of policy announcement

Purchase of Resale HDB Flats | Date of HLE Application on or after the date of policy announcement

Purchase of Replacement Flats Under SERS | Date of HLE Application by SERS flat lessees for new SERS sites announced on or after the date of policy announcement

"

If i am a 2nd time buyer,downgrading & buying resale, can i take bank loan and keep my CASH proceeds ? ?? I need the cash for other purpose..

[forgotten 1]

If i am a 2nd time buyer,downgrading & buying resale, can i take bank loan and keep my CASH proceeds ? ?? I need the cash for other purpose..

You can keep your cash proceeds if u take bank loan. I think the govt is not imposing the Quantum rule on people taking bank loan, as we already have to pay 5% downpayment in cash.

Edited March 7, 2010 by forgotten

[forgotten 1]

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Edited March 7, 2010 by forgotten

[Phantom 1]

Quite surprised no rule announced as to "subletting', especially to those who hold pte pty concurrently. Guess that gov "reserves' this powerful tool till last....

yeah.. Same sentiments here

[tweetie76 0]

You can keep your cash proceeds if u take bank loan. I think the govt is not imposing the Quantum rule on people taking bank loan, as we already have to pay 5% downpayment in cash.

thanks for the clarification, in this case i rather take bank loan and keep the CASH proceeds~ HDB loan dont serve any help at all

Edited March 7, 2010 by tweetie76

[tweetie76 0]

yeah.. Same sentiments here

i think a lot of people are subletting illegally now ~

Edited March 7, 2010 by tweetie76

[Phantom 1]

thanks for the clarification, in this case i rather take bank loan and keep the CASH proceeds~ HDB loan dont serve any help at all

Right on the spot.

[Phantom 1]

i think a lot of people are subletting illegally now ~

I think so too.

[therat 18]

I think so too.

no need to think

It's truth.

I had heard PR couple who bought a resale HDB still continue staying at their rental room. Rent out the whole resale HDB with 1 room lock.

I had heard a foreigner who rent a whole HDB unit (which is just finish building last yr)

The 2nd eg might had HDB approval but for 1st eg, confirm don't have HDB blessing

[Phantom 1]

no need to think

It's truth.

I had heard PR couple who bought a resale HDB still continue staying at their rental room. Rent out the whole resale HDB with 1 room lock.

I had heard a foreigner who rent a whole HDB unit (which is just finish building last yr)

The 2nd eg might had HDB approval but for 1st eg, confirm don't have HDB blessing

I just viewed a China PR-owned property.. renting rooms to lotsa PR girls.. still tell me cannot view the rooms.. girls normally wear very little or don't wear...

You are right.. even pinnacle side got people trying to rent out rooms/units..

Actually there's no such thing as lock 1 room. basically its just a scam to say owners staying but not around at the moment.

Having said that, HDB even bought with bank loan cannot rent out for first 3 years anyway..

personally if the government wants to stamp out rising Hdb prices, should just come out and say HDB cannot rent out. can only stay. Only rare cases are to submit formally for request and the request must be pasted at the door.

Violaters will be fined/imprisoned and/or stands the possibility of having their HDB flat confiscated.

[Ah wong 0]

I just viewed a China PR-owned property.. renting rooms to lotsa PR girls.. still tell me cannot view the rooms.. girls normally wear very little or don't wear...

You are right.. even pinnacle side got people trying to rent out rooms/units..

Actually there's no such thing as lock 1 room. basically its just a scam to say owners staying but not around at the moment.

Having said that, HDB even bought with bank loan cannot rent out for first 3 years anyway..

personally if the government wants to stamp out rising Hdb prices, should just come out and say HDB cannot rent out. can only stay. Only rare cases are to submit formally for request and the request must be pasted at the door.

Violaters will be fined/imprisoned and/or stands the possibility of having their HDB flat confiscated.

ya...that remind me when i viewing house last year in ubi area....this prc house....they rented out the whole house but claim they are staying there....but when ask for 2nd viewing...got to specially arrange at a certain timing ......but we end up did not buy cos feng shui master say no good.....

another approach for our garment to control the hdb price is to put a fix rate to all type of flat.....if sell above this rate....it will subject to heavy tax.......or implement coe....hehe...you got to bid one first before buying a flat from hdb.....