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Singapore Private Home Prices May Fall 10% - BNP
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Hulumas
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10-Sep-2010 10:07
Yells: "INVEST but not TRADE please!" |
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Purely because generally, Singaporean expect HIGH PAY, LESS WORK and TOO DEMANDED JOB SATISFACTION, WORKING ENVIRONMENT also EXCESSIVE RESPONSIBILITY LIBERTY.
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nickyng
Supreme |
10-Sep-2010 07:19
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Cooling measures not meant to punish but to protect by Colin Tan 05:55 AM Sep 10, 2010 There have been numerous analyses recently on how the housing market is reacting to the Government's property cooling measures. But to date, the only impact we can be truly certain of is the huge toll they have taken on the health of overworked reporters. Many have taken ill after rushing out market updates and analyses. Beyond that, it is too early to assess how much the market has changed. The strongest buying interest has always been for new launches. The correlation between launches and sales is high. Understandably, developers have held back their projects, taking time to re-assess the market and come up with new pricing strategies. Without new launches, we are never going to be sure of the effectiveness of the measures. It is two weeks now since the big announcement but many are still not getting it. There have been an unusually high number of complaints about the unfairness of the measures. Contrary to what some may think, the measures are not meant to penalise any group of buyers but to protect the financial system. It is to weed out risky buying - be it from speculators, investors or even genuine upgraders. What has fairness got to do with it? If risky buying is allowed to continue, the bubble will become bigger as prices and fundamentals grow further apart. If it bursts, the system may collapse. Nobody benefits - everyone is a loser. For speculators and investors, the message is clear: Manage your risks to make your money but do not be so greedy as to put the entire system at risk. To genuine upgraders: If the timing of your sale and purchase under the new rules is so precarious financing-wise, you should seriously reconsider whether you should be upgrading at all in the current overly bullish market. Do remember that the authorities see an overall heightened market risk, hence they have put in place the measures. For most of us, property buying is almost always an emotional decision. Often, a great deal of objectivity is lost during the buying stage. A year or two later, these same measures may be looked upon as a blessing in disguise. Some recent analyses also appear to assume that prices will always be rising. Prices do and will come down eventually. It should not be a case of upgrade now or never. It is much safer to upgrade during a stable or market correction phase. Similarly, new ownership rules for HDB resale flats that exclude private property owners unless they sell their private homes first are meant to solve the shortage of resale flats for genuine occupiers, not to penalise investors. Surely even they cannot begrudge the advantage given to those who have yet to own their first property. But what got me really baffled was the advice to people not to give up owning an HDB flat as it keeps its value better than a leasehold private apartment. Surely, a golden rule of investing is to buy low and sell high. If prices of HDB resale flats have reached record highs with little further upside expected, is it not better to sell? One should not be unduly fixated on whether it has turned into something that sometimes money cannot buy. The measures are meant to stabilise the resale market, which means less volatility going forward. Less volatility means less opportunity for profit making. Such advice does not make sense for investors. For the average Singaporean, it would not matter much anyway. The majority of Singaporeans have enough financial resources to own only one property. And if they upgrade, most cannot afford to keep their previous property. That is the reality. It is the reason why most are unhappy about runaway property prices. They see their upgrading dreams dashed, not because they lost out on making money. The writer is head of research and consultancy at Chesterton Suntec International. |
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artng25
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09-Sep-2010 14:28
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I don't know about you guys but I have always felt I am 'just a number' to them........ cause numbers just mean so much to them | ||||
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beruangface
Senior |
09-Sep-2010 14:25
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I qoute an example of a job that PRs r willing to do but not Sporean...External Auditor long working hour, the pay is decent, but seriously no life, sporean choose to work in banks than becoming a slave in these accounting firms ...every year Big 4 accounting firms do not manage to hire enough Sporean to fill up the vacancies, so they resort to PRs, of course they have the choice to take unemployed Sporeans with irreleavant degree and masters, but PRs r cheap, willing to work long hours and have relevant experience, of course the Big 4 (private sector) will take short cut and hire them rather than retraining the Sporeans .. Auditor is not a rocket scientist, the work is not difficult, but yet not many Sporeans r willing to do this job, cos they r many other better jobs out there that pay the same, but with better work life balance and status, so it's not about how difficult the job is, is about commitment and productivity..
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Isolator
Supreme |
09-Sep-2010 14:24
Yells: "STI is hard landing to below 2000..." |
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To be honest, we need foreigner and PR, but we must know the balance. If the PR and citizen status do not make much different, then who will want to become citizen. Even they become citizen, they will still leave the country if there is no advantage to stay as citizen. Government must learn to make citizen has sense of belonging to the country. We must first make a distinct advantage to citizen like only Citizen can buy HDB or maybe PR need to pay additional 20% cash or more as tax when buying HDB. They will not speculate the HDB market as they will be losing 20%. So simple to control HDB price and to have more new citizen. 1 stone kill 2 birds... lol |
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artng25
Senior |
09-Sep-2010 14:19
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What to do ? To take a quote from Hulumas, 'Just buy ChinaJishan' |
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pharoah88
Supreme |
09-Sep-2010 14:12
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WHY PRs ? WHY increase populations ? WHY more training ? these are RED HERRINGS ? ? ? ? The TRUTH PARADIGM: - UNable to create adquate PMET jobs for SINGAPOREANS - UNable to build enough HDB flats for SINGAPOREANS - UNable to enlarge enough roads for SINGAPOREANS Are PRs doing Rocket Scientists' jobs which ALL Singaporeans cannot do ? Never come across a foreign TALENT sO Talented that ALL Singaporeans cannot perform his / her job ? WHY Singaporeans PMETs with double Masters CPA CMA CIA CFA are still UNemployed or driving taxis for years ? year after year ? FULL STOP |
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artng25
Senior |
09-Sep-2010 13:57
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These policies are a double edge sword, it anyhow cuts both ways for now No worries lah, in time the garmen will change their policies again..... we've seen these things over and over again, give it another 1 to 2 years then see how |
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beruangface
Senior |
09-Sep-2010 13:51
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the govt didnt clamp down or disallow PRs from buying resale HDB, the govt just increase the minimum occupation period, last time after PR bought a reslae HDB, need to stay at least 3 years before can sell and make the tiny profit, now govt want them to stay 5 years to makle a bigger profit lor...kakaka
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nickyng
Supreme |
09-Sep-2010 13:40
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precisely my point!! how are those SPorean going to sell their 1st hand HDB to PR now that garment clamp down on them(PRs) by disallowing them to buy HDB resale when it is OBVIOUS that most Msian Spore PR likely will own some oversea properties back in their kampong-BOLEH Msia !??!?!?!? :P unless of cos likely the so-called gradual appreciation of HDB assets owned by 90% of SPorean is wat they say will GRADUALLY appreciate?! BUT wat's the point of gradually appreciating if U RESTRICT BUYERS? SELL TO WHO? haha....sound like jokes to me siah ! :P
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beruangface
Senior |
09-Sep-2010 13:31
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Salute, one more thing to point out, when PR purchase hdb, they can only purchase secondhand/resale hdb at market price, so the profit acutally go to Sporean cos only Sporean can buy new HDB, not the PR.. unless the PR sell again its resale hdb, the min occupation period is 3 years, now 5 years, not much can be made compared to the first owner..the first owner (Sporean) can purchase for instance a 4-room hdb at 250k from govt and sell at 500k later, but the PR that bought an old flat at 500k, how much more lucrative profit he can make? actually this PR is taking a huge risk, if he still can make that profit, what can i say..Salute if u r a decent Sporean, keep buying and selling ur HDB to PR lor..u'll be rich..keke
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Hulumas
Supreme |
09-Sep-2010 13:11
Yells: "INVEST but not TRADE please!" |
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Far and wide sight!
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Hulumas
Supreme |
09-Sep-2010 13:02
Yells: "INVEST but not TRADE please!" |
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Since you say so, seriously, I 'll follow you accordingly. Thank you.
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beruangface
Senior |
09-Sep-2010 12:57
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If the PR can buy resale HDB in Spore at market price and buy another property back home, what is there to complain? His property is not subsidized by govt anyway..the only thing is he doesnt have to serve NS but his kids will need to, this PR is also facing the same problem of rising living cost in Spore as this PR is staying in Spore, whatever problem Sporean face, this PR is facing also...as a Sporean, I dont see PR as a treat, without them, basically who is gg to work, pay taxes to support our aging parents, Sporean want easy job, high pay, overseas holiday every year and early retirement...let the PR's taxes and CPF help us..dont shoo them away, just control the quality of PR, make sure they really bring benefits to the economy...or else we'll regret for sure..
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nickyng
Supreme |
09-Sep-2010 12:42
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gd qn !! that depends on the time frame u are looking at...B4 or AFTER "ERECTION" ?? :P
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Isolator
Supreme |
09-Sep-2010 12:06
Yells: "STI is hard landing to below 2000..." |
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For trading tips....After election or actually now, do not buy Singapore blue chip.... it is going to be down down down... | ||||
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Salute
Master |
09-Sep-2010 12:04
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No, no, no..........I seldom see things that beautiful in this aspect. When I saw the statement put out so straight in the media. I was surprised that they are so wishful in expressing themselves and don't feel anything bad.....sounds to me like only near to election then they care about all these serious adjustment. of course, the rich who enjoyed the property booming loves our govt so as those rubbing shoulders "high ranking people". After elections if property slow down much then easy, our govt is going to open arm to the PR to come and take up HDB as all of us know that our govt is monopolising the main property mkt. they change to suit their plan not the citizens as much
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artng25
Senior |
09-Sep-2010 11:57
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The govt is the biggest owner of land in S'pore. Do you think ifthey have a vested interest to see land prices go up or down ? |
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Isolator
Supreme |
09-Sep-2010 11:50
Yells: "STI is hard landing to below 2000..." |
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The PR issue is for election purpose. Housing drag til now is due to their igorant and selfishness as most MP own a lot of property. Whether there is any curb on the housing or not, the bubble will still need to be burst. Just a cycle.The higher it goes, the higher the impact to the enconmy. Just my view, after election, we should see the real problem emerge. What you see so beautiful, may not be true inner. |
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Salute
Master |
09-Sep-2010 10:55
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remember what was said in the TV, it's all about election. It's just timing........it's so easy an strategy and effective but just have to drag till now. If there is no near term election, wonder when will this be dragged till.........As real decent citizens(not rich ones), all these measures really please them as to why let PR enjoy the purchase of HDB and their hearts are not here. we can't help it if there is not enough manpower that we let them come and work here and make money. A citizen has to take good and bad of it's country including the fair or unfair strategies of govt...........They are here making money, some even have extra to buy a home back home and when they feel like leaving this country that they have benefited they just sell the HDB and get an lucrative some of profit. For a decent citizen here, we are facing the rising living standard, many have to work within budget to serve the housing loan and yet facing the stress of seeing the property prices being steer up by foreign forces adn we were asked to adjust , adapt and accept................I guess our govt knows about this and now doesn't want to lose the hearts of it's citizens before election so........after election.........we shall see again if we are continueing being care of in this big scale.
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