New EC at Sumang Walk

[tonymontana74]

Strange lei. Why like that? I thought already approved before sign OTP mah.

tried to 99 to 1 scheme, kena query by IRAS? EC can do 99 to 1 or not?

Lai liao lo. 4 bedroom $2m. Someone will say too expensive so don’t buy

it's too expensive, don't buy. 1.93m, can get older resale elsewhere (better).

 

[jeng3838]

tried to 99 to 1 scheme, kena query by IRAS? EC can do 99 to 1 or not?

it's too expensive, don't buy. 1.93m, can get older resale elsewhere (better).

Yes EC can do 99/1. confirm

 

[JJLim2020]

Yes EC can do 99/1. confirm

Yes, double confirm...

 

[gonewiththesmart]

Yes EC can do 99/1. confirm

iras say cannot lah..EC ownership already fixed//

 

[JJLim2020]

iras say cannot lah..EC ownership already fixed//

You can put 99/1 when purchase, now already TOP don't think still can change to 99/1 la...

 

[gonewiththesmart]

You can put 99/1 when purchase, now already TOP don't think still can change to 99/1 la...

iras use the highest rate profile to calculate 100 %stamp duty,, not just 1 %.

 

[JJLim2020]

iras use the highest rate profile to calculate 100 %stamp duty,, not just 1 %.

Of course pay 100% stamp duty... It doesn't matter 50/50 or 99/1, all the same ma... 50%+50%=99%+1% ma, who say just pay 1% stamp duty??

 

[gonewiththesmart]

Of course pay 100% stamp duty... It doesn't matter 50/50 or 99/1, all the same ma... 50%+50%=99%+1% ma, who say just pay 1% stamp duty??

I mean the highest rate apply to 100 percent value, not just one percent value.

Quote
FACT SHEET ON NEW ABSD RATES
FOR ACQUISITIONS MADE ON / AFTER 27 APR 2023.... Source, IRAS.

........
ABSD Rate Structure
2.1 Additional buyer’s stamp duty (“ABSD”) is payable on the acquisition of residential properties1
, based on the higher of
the consideration or market value.


The ABSD rate applicable depends on the profile of the buyer. For purchases made
jointly by two or more buyers of different profiles, the highest applicable ABSD rate will apply on the entire value of the
property purchased. Unquote.


But "
the highest applicable ABSD rate will apply on the entire value of the
property purchased. " also apply to all deal made before 27. 4.23.

 

[jeng3838]

If A owns 99% and B owns 1%. When A buys over B share. A only need to pay 1% of the stamp duty based on the higher of the consideration or market value. Correct me if i am wrong

 

[sgpropertyblog]

If A owns 99% and B owns 1%. When A buys over B share. A only need to pay 1% of the stamp duty based on the higher of the consideration or market value. Correct me if i am wrong

wrong.. not like tat..

when A buy over B(the 1%), A still pay full stamp duty, but based on the 1%'s price..

example property valued at $1.5M
99% is $1.485M
1% is $15k

so stamp duty is based on $15k.. so when A buy over, he only need to pay $150 of stamp duty

 

[jeng3838]

Yup. so it makes sense to appropriate 99/1 if you plan to decouple. But i think the progressive stamp duty rate depends on factors like if A is a PR/SG etc. Another thing ppl may miss out is the CPF used by B. Need to be also paid by A.

 

[sgpropertyblog]

Yup. so it makes sense to appropriate 99/1 if you plan to decouple. But i think the progressive stamp duty rate depends on factors like if A is a PR/SG etc. Another thing ppl may miss out is the CPF used by B. Need to be also paid by A.

Yea, its not as simple as it seems.. alot of planning needed.. else in future oso cant exit from 99/1..

aide track 03-19 Piermont actual unit is avail for viewing! PM me for your slot

 

[JJLim2020]

Yea, its not as simple as it seems.. alot of planning needed.. else in future oso cant exit from 99/1..

aide track 03-19 Piermont actual unit is avail for viewing! PM me for your slot

Buyers seems more cautious now ya

 

[jeng3838]

Buyers seems more cautious now ya

Max loan u can get for an EC maybe around 1.2mil. That is best case scenario. likely only 1mil loan thereabouts. So the buyer has to come up with 1 mil CPF/CASH. not an easy feat. With 1 mil cash/CPF. You have much more options.

 

[elvintay07]

Yea, its not as simple as it seems.. alot of planning needed.. else in future oso cant exit from 99/1..

aide track 03-19 Piermont actual unit is avail for viewing! PM me for your slot

Agree. Actually if today someone put $10m in the showroom and ask customers to take, I think 80% will think better don’t take. Some considerations

(1) Aiya! Where got so good, must be got scam
(2) Later walk over maybe got explosive will kill me
(3) Maybe this is just a “reality show”, later kana video
(4) Maybe those are fake money or hell notes
(5) Where got free money in the world

Anyway, EC price is up from $450 to $650 to $800 to $1000 to $1200 to $1350psf. According to:

Friend 1: “Wa lan eh! You want to buy at this price? A crash/ correction is coming. Later drop to $450 how? $1350 - $450 = lose $900 per psf. Buy 1,000 psf house lose $900,000. Die lor….”

Friend 2: “Price will correct one la! Else PAP will lose votes. They scare already because they have been losing lots of votes”

Friend 3: “Lim Peh put inside bank zuo bo lan can earn 4% interest. You pay 4% interest to the bank. You kuku ah. You effective lose 8%.”

Friend 4: “There will not be any low interest like last 10 years. Interest will stay at 10% for next 10 years. You will pay interest till you die”

Hmmmm……All the above make sense. Now I also scare liao! If today I am in the market, I also got no balls to buy

 

[Nanonited]

Agree. Actually if today someone put $10m in the showroom and ask customers to take, I think 80% will think better don’t take. Some considerations

(1) Aiya! Where got so good, must be got scam
(2) Later walk over maybe got explosive will kill me
(3) Maybe this is just a “reality show”, later kana video
(4) Maybe those are fake money or hell notes
(5) Where got free money in the world

Anyway, EC price is up from $450 to $650 to $800 to $1000 to $1200 to $1350psf. According to:

Friend 1: “Wa lan eh! You want to buy at this price? A crash/ correction is coming. Later drop to $450 how? $1350 - $450 = lose $900 per psf. Buy 1,000 psf house lose $900,000. Die lor….”

Friend 2: “Price will correct one la! Else PAP will lose votes. They scare already because they have been losing lots of votes”

Friend 3: “Lim Peh put inside bank zuo bo lan can earn 4% interest. You pay 4% interest to the bank. You kuku ah. You effective lose 8%.”

Friend 4: “There will not be any low interest like last 10 years. Interest will stay at 10% for next 10 years. You will pay interest till you die”

Hmmmm……All the above make sense. Now I also scare liao! If today I am in the market, I also got no balls to buy

Too bad many of us not smart like Elvin bro, already know that price will just keep rocketing and think too much of risks… end up all miss the boat

 

[elvintay07]

Too bad many of us not smart like Elvin bro, already know that price will just keep rocketing and think too much of risks… end up all miss the boat

I never say price will keep rocketing wor. Don’t anyhow spread news

You don’t know how to read this sentence?
Now I also scare liao! If today I am in the market, I also got no balls to buy

 

[jeng3838]

Agree. Actually if today someone put $10m in the showroom and ask customers to take, I think 80% will think better don’t take. Some considerations

(1) Aiya! Where got so good, must be got scam
(2) Later walk over maybe got explosive will kill me
(3) Maybe this is just a “reality show”, later kana video
(4) Maybe those are fake money or hell notes
(5) Where got free money in the world

Anyway, EC price is up from $450 to $650 to $800 to $1000 to $1200 to $1350psf. According to:

Friend 1: “Wa lan eh! You want to buy at this price? A crash/ correction is coming. Later drop to $450 how? $1350 - $450 = lose $900 per psf. Buy 1,000 psf house lose $900,000. Die lor….”

Friend 2: “Price will correct one la! Else PAP will lose votes. They scare already because they have been losing lots of votes”

Friend 3: “Lim Peh put inside bank zuo bo lan can earn 4% interest. You pay 4% interest to the bank. You kuku ah. You effective lose 8%.”

Friend 4: “There will not be any low interest like last 10 years. Interest will stay at 10% for next 10 years. You will pay interest till you die”

Hmmmm……All the above make sense. Now I also scare liao! If today I am in the market, I also got no balls to buy

Friend 1. Siao ah even if correction wont be that huge. If such huge correction. I think even DBS will toh.

Friend 2. Quite the opposite lol

Friend 3. 4% for how long sia? 1year?

Friend 4. 10%??? since when have 10%? Fed alreadly cannot tahan holding high interest rates. If heavily leveraged yes maybe risky.

 

[elvintay07]

Friend 1. Siao ah even if correction wont be that huge. If such huge correction. I think even DBS will toh.

Friend 2. Quite the opposite lol

Friend 3. 4% for how long sia? 1year?

Friend 4. 10%??? since when have 10%? Fed alreadly cannot tahan holding high interest rates. If heavily leveraged yes maybe risky.

You say like that, later really crash then everyone blame u.

 

[Nanonited]

I never say price will keep rocketing wor. Don’t anyhow spread news

You don’t know how to read this sentence?
Now I also scare liao! If today I am in the market, I also got no balls to buy

Boss your style.. like say left but actually mean right leh