ABSD readjusted!!

[trailblaze]

Wa steady man... Your father so good did what is supposed to be impossible

Hmmm if his dad wanted to buy a hdb under his own name, din hdb compel him to decouple his name fr 1st hdb b4 applying?

Hdb messed up here????

 

[fotoudavid]

If let's say there are only 300 sales in August and there are more than 30000 agents, that means that only 1% of agents will earn money from sales while the other 99% can get ready to eat grass for that month.

This few months will be tough for agents.

 

[Hyruga]

In fact, 300 is on the high side starting in August.

It won't take months to recover. It will take years.

 

[bojangle]

In fact, 300 is on the high side starting in August.

It won't take months to recover. It will take years.

August will be bad too.. is chinese 7th month (ghost mth).

 

[XGZ1503]

Yes, many residents in my EC have put up for more than 6 months le still cannot sell their resale HDB...this may just add salt to their wound.....Normally first timer will go for BTO now, and 2nd timers will want to go for condo...this additional of 5% will either encourage more upgrader to sell their HDB flat or you don't buy condo, just stay back your HDB....that is the intention of our government to deteriorate Singaporean to have a 2nd property as an investment...As you want to do that, you have to pay for additional cost..

Maybe they die die wanna sell at their unrealistic price?

 

[fotoudavid]

Sure have buyers, just that seller pricing need to adjust to buyer offer... Now important thing is to sell it.

I sold my hdb even before TOP as I don't want to face this issue.

 

[henrylbh]

Maybe they die die wanna sell at their unrealistic price?

Most sellers want to sell at high or higher than what was the previous high regardless of the attributes of their properties. But most end up selling below their asking price, and some way below their asking price.

My sis wanted to sell her 4rm which is 40yo at 450 and she got 6 months to divest cause she has taken possession of her new BTO flat. After more than a year, the flat was eventually sold at 405, though she could have got 420 earlier.

 

[Mergui219067]

That’s the stress any property agent has to face.
Possible there are few hundreds new sale private, plus a few hundreds / a thousand resale private / hdb .
Erratic income but can earn big $$ at times.
Boom & bust profession.
More DIY & less for them.

If let's say there are only 300 sales in August and there are more than 30000 agents, that means that only 1% of agents will earn money from sales while the other 99% can get ready to eat grass for that month.

 

[henrylbh]

Hmmm if his dad wanted to buy a hdb under his own name, din hdb compel him to decouple his name fr 1st hdb b4 applying?

Hdb messed up here????

Not a mess as most buyers need to buy before selling.

The only solution is for HDB to impose penalty if OTP to sell is more than 6 months. Every month's delay, fine $5k per month for subsequent 3 months and $10k per month thereafter till sold. Like that sure got effect.

 

[Mergui219067]

The agents are in resale HDB / private too.

The non-Sinkies are very much deterred but Sinkies would not give up soon on property investment,no ?
And many pay the levies after initial unwillingness.
No ?
This is not the first ABSD or LTV or ...

In fact, 300 is on the high side starting in August.
It won't take months to recover. It will take years.

 

[trailblaze]

Not a mess as most buyers need to buy before selling.

The only solution is for HDB to impose penalty if OTP to sell is more than 6 months. Every month's delay, fine $5k per month for subsequent 3 months and $10k per month thereafter till sold. Like that sure got effect.

no, tis is not a buy b4 sell case.
this is a transfer of name aka decoupling, no sale involve although need to refund cpf need to be refunded to the name being withdrawn.
isnt decoupling need to be done BEFORE buying?

 

[RyanJ]

This few months will be tough for agents.

I got two agent friends worked throughout the clock before 6th July. already achieved > 1 yr worth of quota liao.

 

[henrylbh]

no, tis is not a buy b4 sell case.
this is a transfer of name aka decoupling, no sale involve although need to refund cpf need to be refunded to the name being withdrawn.
isnt decoupling need to be done BEFORE buying?

Doesn't matter whether decoupling or not, just impose penalty if not done within 6 months.

In my case, my father never (or not allowed to) stay in the flat from day one in which he was joint owner with my sis and he never paid a cent for the joint ownership. He doesn't wanna take out his name till I got a flat in his own name.

And taking out his name was not easy process under the new rules. I need to get medical certification for my dad and my sis need to repay outstanding loan in full and she need to fulfill MOP all over again.

Best part, my father was no longer able to take out his name from the joint ownership subsequently due to dementia or he acted blur and refused to sign any doc and HDB doesn't know what to do.

 

[AlohaBeach]

Wa. I never come here for some time - some ppl talk so much nonsense.

Those holding onto condo one - I challenge u to sell at ur desired price now. See how many offers u can get. I will be very surprised if u even can get 1 offer near your price.

In the end, demand always set the price. U not willing to sell this price, other people will sell. Price appreciation over time? Yes. But the ones who enjoy will be your grand kids , not u. If that was your intention, then it’s ok

 

[henrylbh]

Wa. I never come here for some time - some ppl talk so much nonsense.

Those holding onto condo one - I challenge u to sell at ur desired price now. See how many offers u can get. I will be very surprised if u even can get 1 offer near your price.

In the end, demand always set the price. U not willing to sell this price, other people will sell. Price appreciation over time? Yes. But the ones who enjoy will be your grand kids , not u. If that was your intention, then it’s ok

If I holding to private condo, I have no urgency to sell (unless I need money) and I will set my price. No taker or take a long time to sell no problem. All I have to do is collect rent. If 1 year's rent is 24k what the point of selling unless the price is such that it's enticing to forgo the rental income. No problem if holding results in decline in selling price. I talking nonsense?

 

[af7680]

What if cant find tenant easily and has several months of vacancy while we are paying mortgage at this rising interest environment. In addition , has to pay quarterly maintenance and property tax..
I have seen some of my friends struggling...

If I holding to private condo, I have no urgency to sell (unless I need money) and I will set my price. No taker or take a long time to sell no problem. All I have to do is collect rent. If 1 year's rent is 24k what the point of selling unless the price is such that it's enticing to forgo the rental income. No problem if holding results in decline in selling price. I talking nonsense?

 

[henrylbh]

What if cant find tenant easily and has several months of vacancy while we are paying mortgage at this rising interest environment. In addition , has to pay quarterly maintenance and property tax..
I have seen some of my friends struggling...

If you holding to more than 1 property means means you buy with intention to lease with rewards and risks.

 

[AlohaBeach]

If I holding to private condo, I have no urgency to sell (unless I need money) and I will set my price. No taker or take a long time to sell no problem. All I have to do is collect rent. If 1 year's rent is 24k what the point of selling unless the price is such that it's enticing to forgo the rental income. No problem if holding results in decline in selling price. I talking nonsense?

Of course u can do anything u want. Unfortunately u are not the only one with a unit to rent out. Got tens of thousands of others.

Ultimately no matter how nice ur house, u will have to cut ur rent if not nobody will rent from u. If yours is 99 years lease, good luck to u because u are losing time value from ur unit each time u choose not to rent out because of Low rent offers.

If u have freehold - then it is interesting. Because u have to weigh ur rent vs maintence costs + interest costs. If u didn’t take loan and bought 15 years back, fair enough. If u bought recently with a big loan then u better be damn sure u can rent out at a good rate (which in the current market is super hard). All the best.

And in terms of risk reward - why didn’t u buy stocks? Do u know the returns from STI index far outweigh property market?

Property is not liquid , stocks are.

 

[kinvestor]

Of course u can do anything u want. Unfortunately u are not the only one with a unit to rent out. Got tens of thousands of others.

Ultimately no matter how nice ur house, u will have to cut ur rent if not nobody will rent from u. If yours is 99 years lease, good luck to u because u are losing time value from ur unit each time u choose not to rent out because of Low rent offers.

If u have freehold - then it is interesting. Because u have to weigh ur rent vs maintence costs + interest costs. If u didn’t take loan and bought 15 years back, fair enough. If u bought recently with a big loan then u better be damn sure u can rent out at a good rate (which in the current market is super hard). All the best.

And in terms of risk reward - why didn’t u buy stocks? Do u know the returns from STI index far outweigh property market?

Property is not liquid , stocks are.

Continuing on your point of buying stocks, yes I would think REITS (if u wanna stay vested in property) offer much better yields compared to rental. Easily above 6% yields. No maintenance fees, no tax, nor tenant issues to fret about. However, the drawbacks of REITS are the limited capital appreciation and inability to leverage.

 

[Free-Spirit]

Of course u can do anything u want. Unfortunately u are not the only one with a unit to rent out. Got tens of thousands of others.

Ultimately no matter how nice ur house, u will have to cut ur rent if not nobody will rent from u. If yours is 99 years lease, good luck to u because u are losing time value from ur unit each time u choose not to rent out because of Low rent offers.

If u have freehold - then it is interesting. Because u have to weigh ur rent vs maintence costs + interest costs. If u didn’t take loan and bought 15 years back, fair enough. If u bought recently with a big loan then u better be damn sure u can rent out at a good rate (which in the current market is super hard). All the best.

And in terms of risk reward - why didn’t u buy stocks? Do u know the returns from STI index far outweigh property market?

Property is not liquid , stocks are.

Can help me. Dun understand the part about freehold. Cannot understand what is interesting. Paisei.

Actually worried now. About everything.