ABSD readjusted!!

[AlohaBeach]

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

Actually worried now. About everything.

In theory, ur freehold property land value should not lose value over time because there is no definite date for the land to be returned to the govt unlike 99 year lease properties. However as a building ages, even for freehold - your maintenance fees go up. Currently I have heard some older condo can be 650 per month. So let’s say you buy property for 1.2m, every month loan payment to the bank is 2k. You able to rent out at 2.5k, nett nett u lose money every month = 2.5k - (expenses of 2k + maintenance of 0.65k) = loss of $150 every month.

If you bought house in last 1-2 years, the only way u not in the situation I described above is if: 1) u didn’t take loan; 2) u found a very desperate seller who sold u damn Low price or 3) u got a very stupid/rich tenant

3) won’t last forever and to buy now and hope for 3) is not investing. It’s called ‘gambling’. If u thinking of 3), pls go for other investments. Property is not for u.

 

[Mergui219067]

The bank stocks have rebounded.
Grabbed OCBC during the panic .

CityDev has gone to $10 from $9.4x since.

property stocks hd rebounded

 

[Incognito1979]

In theory, ur freehold property land value should not lose value over time because there is no definite date for the land to be returned to the govt unlike 99 year lease properties. However as a building ages, even for freehold - your maintenance fees go up. Currently I have heard some older condo can be 650 per month. So let’s say you buy property for 1.2m, every month loan payment to the bank is 2k. You able to rent out at 2.5k, nett nett u lose money every month = 2.5k - (expenses of 2k + maintenance of 0.65k) = loss of $150 every month.

If you bought house in last 1-2 years, the only way u not in the situation I described above is if: 1) u didn’t take loan; 2) u found a very desperate seller who sold u damn Low price or 3) u got a very stupid/rich tenant

3) won’t last forever and to buy now and hope for 3) is not investing. It’s called ‘gambling’. If u thinking of 3), pls go for other investments. Property is not for u.

Assuming property price stays the same, taking 2k as expenses is wrong. There's principal and interest payment. Taking the interest component as would be expense right

 

[cscs3]

In theory, ur freehold property land value should not lose value over time because there is no definite date for the land to be returned to the govt unlike 99 year lease properties. However as a building ages, even for freehold - your maintenance fees go up. Currently I have heard some older condo can be 650 per month. So let’s say you buy property for 1.2m, every month loan payment to the bank is 2k. You able to rent out at 2.5k, nett nett u lose money every month = 2.5k - (expenses of 2k + maintenance of 0.65k) = loss of $150 every month.

If you bought house in last 1-2 years, the only way u not in the situation I described above is if: 1) u didn’t take loan; 2) u found a very desperate seller who sold u damn Low price or 3) u got a very stupid/rich tenant

3) won’t last forever and to buy now and hope for 3) is not investing. It’s called ‘gambling’. If u thinking of 3), pls go for other investments. Property is not for u.

A very good break down on what to watch out especially the maintenance fee.
Let me also add if one is interested in second hand property, they should also look into the MCST sinking fund. Check if the MC has enough reserve for future repair as this will affect you inlong run.
So make sure and before you sign up, ask your lawer to find our these plus the pass hostory of spending of sinking fund. Some repair can be a big ticket item, if sinking fund is low, this means resident has to come out with their own pocket.

Also find out if MC team is run by some estate agent. My friend has one example. These people is there to spend so they can inflate the price that they current owned. These people is not there for long term.

These are applicable irregradless 99 years or freehold.

 

[Mergui219067]

Some talk as if most Singapore low end multimillionaires huat by buying some REITs.

 

[fotoudavid]

What happens at Daintree? The launch got sales?

 

[Mergui219067]

Analysts Divided On Daintree Residence’s Pricing
https://www.propertyguru.com.sg/pro...alysts-divided-on-daintree-residences-pricing

 

[Hyruga]

Basically, the govt does not want people to invest in 2nd property unless they are very rich.

In 2013, Absd was taxed on 2nd property suddenly from 0% to 7% for Singaporean. Why didn't they use 5%? Be cos govt wants to discourage people to buy. 7% at that time was heavy and even higher % than PR buying first property (5%) so it discourages a lot of Singaporeans.

Similarly, 5 years later, absd is increased to 12% instead of 10% to discourage normal Singaporeans to buy second property. Only the truly wealthy ones should buy.

 

[Mergui219067]

The truly rich one are not bothered with these cooling measures. Are they ? Lol
LTV ? No issue .

It is the upper middle class / first timers who are affected.
The cash-rich poor things are being told the high risk of oversea properties / cryptocurrency / MLM / stocks etc etc ..... with low yield in saving / fixed deposits / limited SSB / CPF VC ...,

 

[iphone1s]

The truly rich one are not bothered with these cooling measures. Are they ? Lol
LTV ? No issue .

It is the upper middle class / first timers who are affected.
The cash-rich poor things are being told the high risk of oversea properties / cryptocurrency / MLM / stocks etc etc ..... with low yield in saving / fixed deposits / limited SSB / CPF VC ...,

I can't agree more. In fact, the truth is the rich wants to hide the truth from others. tell me if MLM, cryptocurrencies are low yield? The reason why govt is stopping blockchain technologies because imagine if BC cryptocurrency takes weight in the market, it is disruptive technology on a big scale, imagine how many banks are going bankrupt over night? How many pple will lose their jobs?

Stop kidding yourself, folks. You side the govt and hating block chain. Back at the start/end of the month or even after a meal with your friends, u use transfernow... stop kidding yourselves.

 

[Mergui219067]

I should put it this way then .
The cryptocurrency is high risk for most .
MLM is scam mostly.

 

[Clazav]

The truly rich one are not bothered with these cooling measures. Are they ? Lol
LTV ? No issue .

It is the upper middle class / first timers who are affected.
The cash-rich poor things are being told the high risk of oversea properties / cryptocurrency / MLM / stocks etc etc ..... with low yield in saving / fixed deposits / limited SSB / CPF VC ...,

Truly rich one can pay fully using their children name. So they are no affected.

 

[fotoudavid]

Rich people buy using kids name, think it's call trust. Full payment really... Rich....