   
   
|
For free advertisement
World Infromation / Blog : No.10553 : Singapore property cooling measures 2013 新加坡产业冷却措施2013
Posted by on January 31, 2013 at 10:53:09:
Singapore property cooling measures 2013 新加坡产业冷却措施2013
- No:10554 *Singapore’s sweeping package of property cooling measures
各人的看法：
*“Developers had already paid high prices for the recent land bids and developers are likely to be holding on to their project sales until the market recovers.”
*There is a danger lurks if prices spiral downwards. For instance, if private home prices dropped more than 15 percent, investors and firsttime home buyers could end up with a negative property asset portfolio, especially those who bought their private properties in recent times with only five to 10 percent cash down payment.
*In order to avoid paying the seven percent ABSD, owners have to sell their existing apartment before they exercise the option to purchase.”
*HDB upgraders buying a private property will face a bigger hurdle with the revised ABSD as one has to fork out additional seven percent cash upfront in the purchase of the new launches, even though they could apply for a refund upon TOP. In addition, the 25 percent minimum cash down payment for second house will add on to the cash outlay required .
*More people will be homeless during the transition of upgrading to private property.
*Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam said: “The reality we face is that interest rates are extraordinarily low, globally and in Singapore, and continue to add fuel to our property market. We have to take this further round of measures now, to check recent market trends and avoid a more serious correction in prices further down the road.”
*National Development Minister Khaw Boon Wan added: “A large supply of public and private housing – up to 200,000 units in total – will be completed in the coming years. Coupled with the new measures, we will be better placed to ensure that housing remains affordable to Singaporeans.”
*The following measures will take effect on 12 January 2013:
a) Tighter eligibility for loans to buy HDB flats:
i) MAS will cap the Mortgage Servicing Ratio (MSR) for housing loans granted by financial institutions at 30% of a borrower’s gross monthly income.
ii) For loans granted by HDB, the cap on the MSR will be lowered from 40% to 35%.
b) PRs who own a HDB flat will be disallowed from subletting their whole flat.
c) PRs who own a HDB flat must sell their flat within six months of purchasing a private residential property in Singapore.
An additional measure will take effect on 1 July 2013 to tighten the terms for granting HDB loans and the use of CPF funds for the purchase of HDB flats with remaining leases of less than 60 years.
*Measures for Executive Condominium Developments
The following measures will take effect on 12 January 2013:
a) The maximum strata floor area of new EC units will be capped at 160 square metres.
b) Sales of new dualkey EC units will be restricted to multigenerational families only.
c) Developers of future EC sale sites from the Government Land Sales programme will only be allowed to launch units for sale 15 months from the date of award of the sites or after the physical completion of foundation works, whichever is earlier.
d) Private enclosed spaces and private roof terraces will be treated as gross floor area (GFA). The GFA of such spaces in nonlanded residential developments, including ECs, will be counted as part of the ‘bonus’ GFA of a residential development and subject to payment of charges. This is in line with the treatment of balconies under URA’s current guidelines.
11:30:23 31/01/13 Link: