Khaw: Fewer enbloc last year helps stablise property market
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Khaw says: Enbloc sales of housing units which hit feverish heights in 2006 2007, seem to be subsiding. He says ;" If so, it signals the increasing stablilisation of our propery market." Yes Mr Khaw the enbloc fever had definitely contributed to speculative and spiraling prices in the property market! Unfortunately your predecessor Mr Mah didn't quite bother about it! How long will this so call "increasing stablisation last before the property vultures(developers and their agents) come around to attempt selling our homes again? The government talks so much about community development and a sense of belonging and loving our country. How can you love your country when you can lose you home to enbloc vultures quite easily, especially with the help of foreign owners of one's condo who will willingly vote for the enbloc, sell, make a good profit, and move back home to Australia, UK, Malaysia or China? Owners who are Singaporeans born and bred here however need to buy a replacement home, which is usually pricer and /or smaller, and thus a downgrade! It is time the enbloc rules be tightened further to protect the homes true blue Singaporeans. For any condominum with more than 20% foreign ownership ( including PRs) the owners enbloc approval mark should be moved up from 80% to at least 90%.
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Now property prices so expensive, who wants to enbloc?
If they have to pay 1 billion to the current batch of residents, that means they have to build and sell the new development for even more money to break even or make money.
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Enough of enblocs! Why don't they build on golf courses?
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Originally posted by charlize:
Now property prices so expensive, who wants to enbloc?
If they have to pay 1 billion to the current batch of residents, that means they have to build and sell the new development for even more money to break even or make money.
Foreigners would, if the enbloc price offers them a good return on their investment! Unlike Singapore citizens they have less concern about home replacement cost in Singapore especially in times of rising prices. They can just move back home to e.g US or Malaysia where property prices are relatively cheaper. -
the purpose of en bloc regulation is to stabilise the property market from bursting into bubbles....stringent laws for now is ok...but until a certain threshold, we would need to push up the property prices....the cycle takes about 10+ years or so....
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Originally posted by Fcukpap:
the purpose of en bloc regulation is to stabilise the property market from bursting into bubbles....stringent laws for now is ok...but until a certain threshold, we would need to push up the property prices....the cycle takes about 10+ years or so....
Singaporeans of course want their properties to appreciate in value over time. But "pushing up" prices means "artifical intervention", most times causing speculative and spiralling prices. That only helps developers , agents , inland revenue tax collection, it does not help the ordinary Singapore citizen wanting to own his own home. -
Originally posted by Bikeforceful:
Singaporeans of course want their properties to appreciate in value over time. But "pushing up" prices means "artifical intervention", most times causing speculative and spiralling prices. That only helps developers , agents , inland revenue tax collection, it does not help the ordinary Singapore citizen wanting to own his own home.No money, no homey.
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where's the link yo?
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Originally posted by FireIce:
where's the link yo?
Me?