TouringSG
Senior Member
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- Dec 27, 2014
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Found this https://www.theonlinecitizen.com/20...-market-continues-to-feel-the-impact-of-2013/Why will prices crash tho? What caused prices to “crash” in 2013?
Found this https://www.theonlinecitizen.com/20...-market-continues-to-feel-the-impact-of-2013/Why will prices crash tho? What caused prices to “crash” in 2013?
Looks like this year private will rise 8% to 10%
Erm, if that happens government will impose measures like massive hike of property tax for non-owner occupied properties or imposition of capital gains tax. It is politically not sustainable.Looks like this year private will rise 8% to 10%.
somemore last year the foreign buyers didnt even have chance to come in, and locals already driven a 5-10% increase in property, imagine when borders reopen in 1-2 years, there will be a segment of foreign buyers who dont mind paying the 10%+ foreign buyer stamp duty, cant imagine how will the prices go when that happen.
somemore last year the foreign buyers didnt even have chance to come in, and locals already driven a 5-10% increase in property, imagine when borders reopen in 1-2 years, there will be a segment of foreign buyers who dont mind paying the 10%+ foreign buyer stamp duty, cant imagine how will the prices go when that happen.
there will always be a segment of foreign buyer who can buy off plan, but i am sure there is another segment who prefer to buy onsite, nett nett we have yet to see the real purchasing power of the foreign buyers, currently 80%+ is driven by localsHong Kong residents buy US$1.3 billion worth of homes in London after UK opened path to citizenship in July
https://www.scmp.com/business/artic...13-billion-worth-homes-london-after-uk-opened
Borders closed? It does not matter.
this i agree, i didnt mean nett zero demand from foreign buyers, i recall news report 80%+ of transactions were from local buyers - "suppressed" foreign demand will be more accurate point i was trying to makeOver 50% of units at Irwell Hill Residences condo sold on launch weekend
https://www.straitstimes.com/busine...irwell-hill-residences-sold-on-launch-weekend
About 80 per cent of the buyers are Singaporeans, with the remainder comprising permanent residents and foreigners from China, Malaysia, Indonesia, Australia, South Korea, UK and others, CDL said on Sunday.
Borders closed? Where did the foreigners come from? Borders open? Foreigners can also sell more? It is not that simple. I am also not sure. But it is always good to be optimistic and happy, especially after just making a purchase.
By the way, borders are not closed tightly. Flights to and from US/ UK/ China etc are still operating. Our rich foreign friends can still come and snap up units in your development, just need a 14 day quarantine.
Oh their "foreigners" include PRs as well, no wonder the % is so high. Non-PR foreigners would only be around 5-6% a year based on URA statistics.https://www.straitstimes.com/busine...re-private-homes-drops-to-17-year-low-in-2020
https://stackedhomes.com/editorial/foreigners-buying-property-in-singapore/#gs.0j92c4
stackedhome article have data on the ratio of foreign buyers over 10years+. Credit goes to them for the chart.
Strait times articles in jan 21 shared foreign buyers % is at record 17 year low in 2020.
Just sharing what i read, no subjective bias
Then we end up incurring higher interest in the 3rd and subsequent years until we collect kegs and big chunk of payment is released by bank then we do refinancing. Long story short, we not only end up with shorter remaining lease, we pay higher interest for from year 3 until TOP when we do refinancing, we also incur extra rent if we are renting a place while waiting for new place to TOP.... I think we are losing out on a lot not only shorter remaining lease. The Govt ought to give us some relief as this pandemic is unprecedented and like the Govt and businesses, we as home buyers did not cater for all that Why are we expected to silently absorb the impact?
Why does the government need to come out and subsidise “rich” condo buyers?
They covered business rents previously to prevent economy from collapsing, rather than trying to bail out individuals.
resale prices all time high with some COV 80k-100k, buy resale now sell next time lose big how?If you urgently need a home for self-stay, should've bought resale instead of new launch. Buying resale, you don't have to waste money paying rent for a few years while waiting for the new condo to be built and TOP.
You were seeking monetary compensation from the government. That is wrong and "greedy"!We bought in 2018, did not expect this pandemic to hit. We bought it as a future home for our family and prepare for my boy who is going primary school which I am sure we are not the only one. We all have the right to choose what we deem is suitable for our family, there is no definite right or wrong? What you think is good may not be what we want for our family so there is no need for you to comment in that manner.
I have been seeing really mean comments like we are greedy sinkies, underserving when we are just sharing our thoughts on this platform. I don’t understand the need for keyboard warriors to call names and make nasty comments due to some reasons which I obviously cannot comprehend. I’m sure all of you do some investments, just different forms. For sure it’s greed that makes you invest to grow money or you are a saint?
This is a forum Is a platform to seek advises, share knowledge and information. Not one for another to criticise one another and be nasty. You can disagree but not criticise and be so harsh, the same we teach our children not to do to their friends in school.
Peace
Alright. I apologise for any misunderstanding. I do understand your predicament and I believe many new launch purchasers are in the same shoes as you. What you are facing is not uncommon in the course of business and please understand that the government is not obligated to step in.The relief I am hoping for is extension of lease we are losing or probably a chance to refinance without huge Penalty. I am not expecting cash payout from Govt, did you misinterpret? How is that greed I don’t know.
We are just caught in this situation because we didn’t cater for this pandemic like many others and we are NOT blaming Govt Just because I did not monetary relief from Govt from the purchase of my new place and I am not such an idiot to expect Govt to give us monetary relief to pay for my new place .
Being in middle class group, we are stuck in between no where and we did not really get any extra monetary relief from Govt except for the JsS which was paid to the companies we are working for And the usual payout to Singaporean. What is so wrong that we are hopeful that we can get some form of relief since many actually got it (monetary and others) and we are just not eligible.
Like I mentioned, regardless how “unreasonable” You think our post is, I don’t think we deserve to be criticised or called names. We all have our difficulties and we making use of this platform to let go of stress and share our opinion. No definite right or wrong but really no need to resort to criticising people who post their opinions. Seek your understanding.
Perhaps government can offer subsidised rental flats to help him. I believe he should be willing to accept this "relief", in the absence of "greed".If you urgently need a home for self-stay, should've bought resale instead of new launch. Buying resale, you don't have to waste money paying rent for a few years while waiting for the new condo to be built and TOP.
More information for new launch buyers... you do not have to "silently absorb the impact". No force majeure clause in S&PA. Our friend can definitely sue the developers if completion date is later than what is stated in S&PA. No need relief from government.Alright. I apologise for any misunderstanding. I do understand your predicament and I believe many new launch purchasers are in the same shoes as you. What you are facing is not uncommon in the course of business and please understand that the government is not obligated to step in.
I have found some information which may be useful for you. You can try to claim damages directly from developer. However, developer is not obligated to finish construction early on a date that you had expected.
Delivery of Vacant Possession
The developer is required to deliver vacant possession of the unit to you no later than:
The date as specified in the Sale and Purchase Agreement (S&PA); and,
21 days from the date of receipt of the payment of 25% of the purchase price.
This payment is due when TOP has been issued, and the roads, drainage and sewerage works serving the housing project have been completed (item 3 of the payment schedule).
The developer is liable to pay liquidated damages to you if they fail to deliver vacant possession of the unit by the above dates.
The developer is contractually bound to deliver vacant possession of the property to the buyer by the date stated in the Option to Purchase (OTP) and S&PA. Otherwise, the developer has to pay liquidated damages to you.