Treasure at Tampines

Clazav

Senior Member
Joined
Nov 7, 2014
Messages
2,279
Reaction score
298
Second property owners will indeed have to sell at a higher price but then the second property is used for rental anyway, so just wait while someone else help you pay part of your instalment monthly.

Yes, taxes, legal fees , valuation fees etc.
The reason I left out the 3% stamp duty etc is that these are common basis, all buyers faced. I was trying to bring across the point that buyer should include their 12% or 15% whatever it is in their consideration of purchasing price. It is no longer the ‘selling price’ or what first time buyers pay. Second time buyers face a different ‘purchase price’ which should be used for investment calculations.

The 12 % absd is to let buyers know that since they are buying for investment, can they not find a better form of investment (considering the hefty tax) other than property? If really cannot, then pay Agong, they like your money.
 

Clazav

Senior Member
Joined
Nov 7, 2014
Messages
2,279
Reaction score
298
Actually society blames property for making Singaporeans relying on their properties too much and neglect entrepreneurship and innovation. But I see also how property makes one work hard for their dream. Bro 1993newbie is a good example.

Wahhh thanks all for the suggestions. Well I will see 5-10 years from now ba. For now, I’m happy with my first property. Will definitely save up in the meantime. Glad to be part of this property journey at a young age. Hope to learn more stuff from you all.
 

ThinkCarefully

Supremacy Member
Joined
Mar 25, 2019
Messages
5,998
Reaction score
2,014
Second property owners will indeed have to sell at a higher price but then the second property is used for rental anyway, so just wait while someone else help you pay part of your instalment monthly.

Yes, that being said, before you collect your first rent, pay up 3 to 4 YEARS of rent (as absd) to Agong first. And when a second property owner wants to sell to another second owner, the seller bear in mind they need high price to cover the purchase absd and the buyer considered the higher ‘purchase price’ based on the absd as well, double consideration for the transaction to go through.
 

ThinkCarefully

Supremacy Member
Joined
Mar 25, 2019
Messages
5,998
Reaction score
2,014
https://www.edgeprop.sg/property-ne...rticle&utm_source=Facebook#Echobox=1555311483

Why Kingsford Huray Development was issued a rare 'no-sale licence' by URA for the new development at Normanton Park site.. wow !


Good luck to those kingsford buyers on two counts. If this no-sale license is due to feedback and complaint, you can imagine how good those are. If the developer is now in trouble, how much effort do you think they will put in to resolve those complaints? (Questionable)
 

NiShiZhu

Banned
Joined
Jan 27, 2005
Messages
9,299
Reaction score
3,015
“With the no-sale licence, the developer is more likely to be hit by the ABSD clawback at the rate of 15% (the prevailing rate then), as developers have to develop and sell all their residential units within a five-year period in order to comply with their undertaking for ABSD remission, says Lee Liat Yeang, senior partner at Dentons Rodyk Real Estate practice group. Upon clawback of the ABSD, there’s also a 5% interest payment chargeable by Inland Revenue Authority of Singapore (IRAS) on the ABSD amount, from the 15th day after the date of the en bloc sale and purchase agreement until the date of payment.”

So does that mean we are expecting fire sale after normantan park is completed. :D
 

1993newbie

Supremacy Member
Joined
Jun 19, 2018
Messages
6,362
Reaction score
500
Time to save bullet! In 4 years time we shall see. Hehehesheehehe

“With the no-sale licence, the developer is more likely to be hit by the ABSD clawback at the rate of 15% (the prevailing rate then), as developers have to develop and sell all their residential units within a five-year period in order to comply with their undertaking for ABSD remission, says Lee Liat Yeang, senior partner at Dentons Rodyk Real Estate practice group. Upon clawback of the ABSD, there’s also a 5% interest payment chargeable by Inland Revenue Authority of Singapore (IRAS) on the ABSD amount, from the 15th day after the date of the en bloc sale and purchase agreement until the date of payment.”

So does that mean we are expecting fire sale after normantan park is completed. :D
 

vclee4321

Junior Member
Joined
Dec 1, 2010
Messages
32
Reaction score
0
“With the no-sale licence, the developer is more likely to be hit by the ABSD clawback at the rate of 15% (the prevailing rate then), as developers have to develop and sell all their residential units within a five-year period in order to comply with their undertaking for ABSD remission, says Lee Liat Yeang, senior partner at Dentons Rodyk Real Estate practice group. Upon clawback of the ABSD, there’s also a 5% interest payment chargeable by Inland Revenue Authority of Singapore (IRAS) on the ABSD amount, from the 15th day after the date of the en bloc sale and purchase agreement until the date of payment.”

So does that mean we are expecting fire sale after normantan park is completed. :D

Now make me even more concern about Normanton Park's quality. They might rush to TOP
 

NiShiZhu

Banned
Joined
Jan 27, 2005
Messages
9,299
Reaction score
3,015
Now make me even more concern about Normanton Park's quality. They might rush to TOP

“Developers issued with a no-sale licence can only commence construction but are not allowed to sell any units before Temporary Occupation Permit (TOP) is obtained.”


Don’t worry about the quality, Kingsford won’t jeopardise themselves one more time again. Else they can say bye bye Liao.
Best part is, they build Liao buyers can take their time to view the actual units.
:D
 
Last edited:

ThinkCarefully

Supremacy Member
Joined
Mar 25, 2019
Messages
5,998
Reaction score
2,014
“Developers issued with a no-sale licence can only commence construction but are not allowed to sell any units before Temporary Occupation Permit (TOP) is obtained.”


Don’t worry about the quality, Kingsford won’t jeopardise themselves one more time again. Else they can say bye bye Liao.
Best part is, they build Liao buyers can take their time to view the actual units.
:D

I agree. With this, buyers can see before they buy.

Those who bought before they see are the ones to be concerned.
Quote”
Good luck to those kingsford buyers on two counts. If this no-sale license is due to feedback and complaint, you can imagine how good those are. If the developer is now in trouble, how much effort do you think they will put in to resolve those complaints? (Questionable)
Unquote””
 

Brown24

Member
Joined
Aug 8, 2018
Messages
158
Reaction score
0
“Developers issued with a no-sale licence can only commence construction but are not allowed to sell any units before Temporary Occupation Permit (TOP) is obtained.”


Don’t worry about the quality, Kingsford won’t jeopardise themselves one more time again. Else they can say bye bye Liao.
Best part is, they build Liao buyers can take their time to view the actual units.
:D

Come on la....It will just delay the sale for few months or so la....
 

NiShiZhu

Banned
Joined
Jan 27, 2005
Messages
9,299
Reaction score
3,015
I agree. With this, buyers can see before they buy.

Those who bought before they see are the ones to be concerned.
Quote”
Good luck to those kingsford buyers on two counts. If this no-sale license is due to feedback and complaint, you can imagine how good those are. If the developer is now in trouble, how much effort do you think they will put in to resolve those complaints? (Questionable)
Unquote””

Yap, already quite a number of complaints for the newly TOP Hillview peak on defects issues.

PAcEhiD.png


HJbL1Gw.jpg
 
Last edited:

vclee4321

Junior Member
Joined
Dec 1, 2010
Messages
32
Reaction score
0
Yap, already quite a number of complaints for the newly TOP Hillview peak on defects issues.

I went to the Kingsford Waterbay showflat a year ago. I noticed the finishing quality is really of lower grade compare to local developer.

Again they are trying to persuade me to book a unit with west sun and offer better price, even than the previous batch of buyer.

It's quite surprising to me that place appreciate quite a bit since my visit.

Given the oversupply issue, i wonder if a few year down the road the history like this might repeat. Of course the prime unit might still sell fast anyway
 

ThinkCarefully

Supremacy Member
Joined
Mar 25, 2019
Messages
5,998
Reaction score
2,014
That is why I give due consideration to the Developers of projects. There should be visible differences between CDL (tapestry) and SL (treasure) and between cdl (whistler) and twin (Chinese developer). What do buyers think?
 

NiShiZhu

Banned
Joined
Jan 27, 2005
Messages
9,299
Reaction score
3,015
That is why I give due consideration to the Developers of projects. There should be visible differences between CDL (tapestry) and SL (treasure) and between cdl (whistler) and twin (Chinese developer). What do buyers think?

If sycamore tree at joo Chiat and laurel tree at Hillview (both developed by Astoria development Pte Ltd) can run road like this, I’m more determined to buy from reputable developer.
These two projects took near 8 years till now still not completed/no news. Already Long exceed the legal completion date.
I’m also quite wary of boutique projects developed by some unknown Developers.

https://www.propertyguru.com.sg/pro...-still-waiting-on-completion-despite-2016-TOP
 
Last edited:
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top