Buoyant property prices a sign of rising wealth
-
Dec 20, 2010 - ST Forum
THOSE who complain about the spike in housing prices seem to have missed the point: We are in this situation precisely because the Government got us out of the recent financial crisis at such a quick pace with prudent policies.
Many Singaporeans' jobs, and thus their household incomes, were saved because of swift measures, particularly the Jobs Credit scheme which had a lasting and direct impact, allowing the vast majority to continue servicing their housing loans.
With a home ownership rate close to 90 per cent in Singapore, shouldn't Singaporeans in general be happy about rising property values? Since this Government was elected in 2006, property prices and the general wealth of Singaporeans have gone up greatly. Credit should be given where it is due.
Let us also not forget that property prices will continue to rise as long as buyers accept such prices. Even after the slew of measures and assurances from the Government, we see many snapping up shoebox units for hefty prices in outlying areas.
Benjamin Ching
-
election's coming.
-
Originally posted by Clivebenss:
Many Singaporeans' jobs, and thus their household incomes, were saved because of swift measures, particularly the Jobs Credit scheme which had a lasting and direct impact, allowing the vast majority to continue servicing their housing loans.
the jobs credit scheme is one of the worst ever idea by our almighty government
they could have provided help to the estimated 100k citizens who were retrenched, instead they went and threw $4.3 billion at the businesses while the retrenched gets nothing
$4.3 billion, that's about 43k per retrenched citizen
-
property rises.. remember Japan?
what you have is a grossly inflated cost of housing, fuelling a mad scramble to those who use it as a tool for investment rather than a home...
the "rising wealth" is an illusion unless you have more than one property and can throw the other one into the feeding frenzy and earn a quick buck...
otherwise, what the hell are you going to do? sell at a high price to buy another property at a high price just to have a roof over your head?
increase your monthly repayment for another place?
your choice...
the damage for this short-term gain is horrible.. we've also seen an extreme case in the US... however over there, it was fuelled by greed of the bankers...
while those who need housing are squeezed out now, the repercussions of a bubble bursting will be felt for a long time.. and in places like Japan, they are still being felt...
i fear for our country if this is to continue... however, i can't for the life of me see how we can avoid it..
-
dun ever think property price going up like tml is good..
it's going to end up w/ really no tml
-
Dec 20, 2010 -Straits Times
Good infrastructure, low interest rate exert pull
JAPAN has become the new darling of Asian property investors as prices in markets such as Singapore and Hong Kong hit historically high levels.
So the hot money is leaving, we could see a drop in value in 2011.
So much for rising wealth hor.
-
rising property only benefit people with multiple properties. i.e. the rich people!!!
each hdb flat owners have only 1 hdb flat.
cash in and live where? bus stop??? changi beach??
-
Originally posted by dragg:
rising property only benefit people with multiple properties. i.e. the rich people!!!
each hdb flat owners have only 1 hdb flat.
cash in and live where? bus stop??? changi beach??
If got 5rm HDB, downgrade to 3rm HDB can make S$250k leh....
-
The latest PAP tactic is to use those youth, braindwashed, head muddled with rote learning and numbed to thinking critically or questioning status quo.
-
Before computing the estimated sale proceeds, you will need the following information:-
Estimated Resale Price
You may view the past one year HDB resale flats transacted prices in your location to guide you in determining your estimated resale price.
Do note that eventually, the resale price of a flat is the result of negotiations between buyers and sellers.
Outstanding Mortgage Loan Amount
The outstanding mortgage loan amount will be deducted from your resale price. If your resale price is not enough to settle your outstanding motgage loan, it is a negative sale proceeds and you would have to pay the shortfall in cash to HDB or to the lending bank.
If you have obtained an HDB concessionary loan, you may log in to My HDBPage to check the outstanding loan amount. If you have obtained a mortgage loan from the bank, please check with the bank.
CPF Monies utilised
The amount of CPF monies utilised towards your puchase of the flat with accrued interest must be returned to your CPF Ordinary Account (OA) upon the sale of your flat. You can log into your CPF account with your Singpass to check on the amount of CPF monies to be refunded to your CPF Ordinary Account (OA).
Other Outstanding Payments
These are other payments due to HDB (such as penalty fees, late payment charges etc) and other relevant authorities (Service and Conservancy Charges arrears, Property Tax etc).Taken from:
http://services2.hdb.gov.sg/webapp/BB24SaleProceedCalculator/BB24SSaleProceedsCalc -
Originally posted by Demon Bane:
If got 5rm HDB, downgrade to 3rm HDB can make S$250k leh....
If downgrade from 5rm to studio HDB can make $400K at least! That's a lot of $$$ !
Can retire peacefully and happily !!! -
just asking.. what's the stamp duty like for each transaction?
also, is it based on the valuation or the total price?
-
Originally posted by Demon Bane:
If downgrade from 5rm to studio HDB can make $400K at least! That's a lot of $$$ !
Can
retire peacefully and happily !!!that's a lot of $$$ into your cpf, yeah
-
Originally posted by Zweiz:
that's a lot of $$$ into your cpf, yeah
If u bought your 5rm many yrs ago, its only S$30k, selling it now will make a huge fortune! I'm talking about cash!!! Not CPF.