Hdb Ups Mop For Resale Flats To 5 Years

[jansenboy 0]

Yes, I agree with you. Those who own a HDB flat and a condo will definitely not sell their HDB as they will not be able to buy another HDB flat again. Thr people who suffer the most from this rule is those who only own a condo or a private property. In the past, they can buy a HDB flat to rent out as they are about half the price of condo. Now, they will have to buy a condo to rent out which will be less affordable...

Even those with a HDB looking to upgrade to a condo will be less willing to sell. In the past, perhaps a family might be willing to sell their HDB and upgrade to a Condo. But with this new policy, there will be no incentive at all for the family to give up their HDB as they will have problems buying it back in the future if they want to (have to sell their private)

More likely than not, people will pay downpayment (30%), and then rent out their HDB and use the money pay installment for private. If not enough money, then rent out their private and move back to their HDB. Worst case scenario just sell their private.

I stated in another post sometimes must see from the other side of the coin. People keep on saying HDB price will go down because PR now got problems buying re-sale. But how can the price go down if no one willing to sell their HDB flats anymore? I am quite sure about 8-9/10 people on this forum will not want to sell their HDB anymore with this new policy unless they are looking to upgrade from small HDB to larger HDB. Anyone who intend in the future to buy private will DEFINITELY not sell their HDB as they will be unable to own one once they buy a private property.

As for the overseas thing, someone should ask MBT how they will enforce it. The next few months will be very interesting. I for one will not be surprise at all if some "adaptions are added" to the overseas policy

[bepgof 20]

Even those with a HDB looking to upgrade to a condo will be less willing to sell. In the past, perhaps a family might be willing to sell their HDB and upgrade to a Condo. But with this new policy, there will be no incentive at all for the family to give up their HDB as they will have problems buying it back in the future if they want to (have to sell their private) That was why I said in much earlier post that: You see me, I see you. Wait & See, especially in Ghost month, today is last day liao. Tmr, everyone chiong and buy?

More likely than not, people will pay downpayment (30%),(ya lor, borrowing cost so low and job so stable) and then rent out their HDB and use the money pay installment for private. If not enough money, then rent out their private and move back to their HDB. Worst case scenario just sell their private.

I stated in another post sometimes must see from the other side of the coin. People keep on saying HDB price will go down because PR now got problems buying re-sale. But how can the price go down if no one willing to sell their HDB flats anymore? (don't under estimate the power of "visible hand" which is always at upper hand than the "invisible hand". Once visible hand is out, "invisible hand is "off duty") I am quite sure about 8-9/10 people on this forum will not want to sell their HDB anymore with this new policy unless they are looking to upgrade from small HDB to larger HDB. Anyone who intend in the future to buy private will DEFINITELY not sell their HDB as they will be unable to own one once they buy a private property. I "super heng" as one forumer put it - got my hdb resale < 1 year, and bought a new pte a month ago. Fast hand fast leg got this advantage, don't just say, action!

As for the overseas thing, someone should ask MBT how they will enforce it. The next few months will be very interesting. I for one will not be surprise at all if some "adaptions are added" to the overseas policy. Wow, look like LKY's quote on MBT going to be actualised liao. Repeat what LKY siad: "If he can't resolve property pricing issue, he deserved to be voted out". Seem MBT has given himself another unpredicted pressure - clarify fast die faster (Newton 2nd law), don't clarify also die, at a late stage, with more arrows on body.

Edited September 7, 2010 by bepgof

[kelvinangsw 0]

I think from the investment point of view, after this new policy, the impact on 1st time buyer will be:

i) For first time home buyers, try to secure a HDB flats (either Resale or BTO) for your 1st house, then plan to upgrade to condo or buy another condo and rent out the condo or HDB later if you want to invest in property.

ii) For first time home buyers with fat cash, try to secure a resaled HDB flats for your 1st house, after 5 years, buy another condo and rent out the condo or HDB later if you want to invest in property.

iii) For first time very rich home buyers, avoid HDB flats as it will restrict you from buying private properties for 5 years.

I guess most of us fall in the first and second cat. I am in the first for sure...Ha..Ha..

So I think the demand for resaled HDB will still be strong....

[neubie 2]

now GCT come out and say, existing PRs will be asked to convert to sg citizenship, if not they will revoke their PR status, and the hdb they possess maybe force-sold.... may have some downward pressure on resale flat prices...

[Warrior88 0]

HDB concept of changes each time.

In March 2007, HDB relaxes policy on subletting of whole flats. Citing HDB recognises that the flat is also the single most valuable asset for many Singaporeans, and has a value that can be unlocked to provide some supplementary income for flat owners. This reduction of the MOP for subletting will allow flat owners greater flexibility to monetise their flats when it is needed, e.g. during retirement or times of financial difficulty. It will also enlarge the rental market for HDB flats and offer more rental housing options for those who are not yet ready to buy a property.

But problem soon arise.

After easing of subletting rules , the three months that followed saw resale prices jump 2.95 per cent. This compares with a 0.98 percent increase during the same period in 2006.

More Singaporeans approaching 35 years old are buying and subletting their flats for income. 'Permanent residents are doing that too.

Then see what MBT says.

'If private property owners can buy HDB flats or keep their existing flat to earn money from rentals, the supply of resale HDB flats will dip,' Mr Tan said. This will push up the prices of resale flats.

HDB may tighten subletting of whole flat base on case to case basis to increase the supply and as dual ownership don't see the incentive and bring prices down

[jansenboy 0]

I think even before 2007 there were other HDB policies that have since flip here and then a few years ago flip there and etc..

I am too young too remember, but I heard there was a time whereby there was some stuff that say that if you got HDB and Private you must stay in your HDB and rent out your private?? not clear if it was a policy or minister just comment only. perhaps the older members on the board will be able to enlighten.

At the end of the day, politicians everywhere is all the same. They say what they need at different time. Of course in other countries there is usually a strong opposition group to voice out if a certain politician change his tune too much. In singapore sometimes they get away with it. Ask yourself outside this forum will Singaporeans actually think so much as us? All they think is perhaps Govt doing more to help them....without thinking any deeper.

It be interesting if someone comes out with a list of the policy changes that HDB has adjusted over the years.

[Warrior88 0]

I think even before 2007 there were other HDB policies that have since flip here and then a few years ago flip there and etc..

I am too young too remember, but I heard there was a time whereby there was some stuff that say that if you got HDB and Private you must stay in your HDB and rent out your private?? not clear if it was a policy or minister just comment only. perhaps the older members on the board will be able to enlighten.

At the end of the day, politicians everywhere is all the same. They say what they need at different time. Of course in other countries there is usually a strong opposition group to voice out if a certain politician change his tune too much. In singapore sometimes they get away with it. Ask yourself outside this forum will Singaporeans actually think so much as us? All they think is perhaps Govt doing more to help them....without thinking any deeper.

It be interesting if someone comes out with a list of the policy changes that HDB has adjusted over the years.

Before 2003, owners were not allowed to rent out their flats unless they were working abroad, for example.

That year, HDB relaxed the rule to allow home owners to rent out their flats after 10 years if they had paid up the loan, and 15 years if they had not. In 2005, this was cut to five and 10 years respectively.

[Warrior88 0]

This link touch not only on the microeconomics but also the macroeconomics.

Clearly I believe it is the macro impact that really drive the property market

http://smartpropertybuyer.blogspot.com/200...ngapore_09.html

[forgotten 1]

Units at NV Residences snapped up at private preview

08 September 2010

http://www.channelnewsasia.com/stories/sin...1079939/1/.html

SINGAPORE : City Developments and its joint venture partners, Hong Leong Holdings and Hong Realty, have sold 80 per cent of the 200 units released at a private preview of NV Residences on Wednesday.

Priced at an average of S$830 per square foot, the 99-year leasehold apartments at the 642-unit development range from S$557,000 for a one-bedroom unit to S$1.9 million for a penthouse.

The development consists of eight blocks of 12 to 15 storey condominium units on a site area of nearly 30,500 square metres.

Its recreational facilities include a geometric garden, children's playground, swimming and jacuzzi pools, tennis courts, and a gym.

NV Residences, which is located at Pasir Ris Grove, is within walking distance to the Pasir Ris MRT Station and is close to shopping and entertainment amenities such as Downtown East, Tampines Mall and Century Square.

The developers said it is also the first condominium in Singapore to introduce a patented storage solution which maximises the space in the apartment with the integration of smart storage compartments that are built flushed with the floor or the bay window.

City Developments' group general manager, Chia Ngiang Hong, said: "We're very encouraged by the good response for NV Residences, which shows a healthy demand for a well-positioned and attractively-priced residence in the East, particularly amongst owner-occupiers."

- CNA/

Edited September 8, 2010 by forgotten

[tweety3334 0]

Hello, I have a HDB and a pte now. If I need to refinance my pte , I can only loan up to 70% since it's my second property?

[bepgof 20]

Hello, I have a HDB and a pte now. If I need to refinance my pte , I can only loan up to 70% since it's my second property?

70% rule applies for the 2nd mortgage loan.

Let say yr HDB still under loan, and u take another loan for pte. This "another" loan = 2nd loan in force, and max amount is 70% of valuation.

Woh lau, u said u got a hdb and a pte now, you don't know? If yr OTP or/and S &P doc signed for pte before 30 Aug 2010, you are quite safe - depend on banks. After GCT's remarks on Monday + NV Residence's positive response, likely MAS will act pressure on banks pretty soon. I'd just read yr 3+1 hdb floor plan layout - so soon buy pte already, look like you're very "hiong" than me.

Edited September 9, 2010 by bepgof

[Warrior88 0]

SGX index > 3000 points, COV up, even garlic price also increase.

Looks like Ppl are filthy RICH now. NV is $830 cheaper than the simi name in Tanah Merah $1,000. Chiong lah ....

[bepgof 20]

SGX index > 3000 points, COV up, even garlic price also increase.

Looks like Ppl are filthy RICH now. NV is $830 cheaper than the simi name in Tanah Merah $1,000. Chiong lah ....

Bro, 2 days ago legs & hands itchy again, went up the mountain, found Tiger sleeping, quickly grab some & down the hill, returned home safe.

COE up, PRs #up, water level up also.

Edited September 9, 2010 by bepgof

[Warrior88 0]

Bro, 2 days ago legs & hands itchy again, went up the mountain, found Tiger sleeping, quickly grab some & down the hill, returned home safe.

COE up, PRs #up, water level up also.

What mountain? You go up there cos of the flood? I am also a tiger, next time bring me there.

Foreigners 1 in 3, where you heading. UP? Got kang tao, PM leh:)

[bepgof 20]

What mountain? You go up there cos of the flood? I am also a tiger, next time bring me there.

Foreigners 1 in 3, where you heading. UP? Got kang tao, PM leh:)

In Singapore, Kang Tao comes first & gone first, the moment keying in to PM you, kang tao already evaporated into the air. Mountain = stock exchange. This year is Tiger year. Tiger super on this year, guard the mountain's wealth super hard. I spent some money installed cctv, once caught him sleeping, then quickly go up & grab some quietly, like that you also don't know meh?

Edited September 9, 2010 by bepgof