[[[ForeverAlone]]]

SINGAPORE: The Government on Wednesday (Dec 15) announced a package of measures to cool the private residential and HDB resale markets.
The measures include raising Additional Buyer’s Stamp Duty (ABSD) rates, tightening the Total Debt Servicing Ratio (TDSR) threshold and lowering the Loan-to-Value (LTV) limit for loans from the Housing and Development Board (HDB), said the Ministry of Finance, the Ministry of National Development and the Monetary Authority of Singapore in a joint press release.
"The Government has been closely monitoring the property market for several quarters," said the statement, which was released to the media just before 11.40pm. It added that the private residential and HDB resale markets have been buoyant, despite the economic impact of COVID-19.
Private housing prices have risen by about 9 per cent since the first quarter of 2020.
HDB resale flat values have also risen by about 15 per cent since the same time, reversing a six-year decline, the authorities said.
"Even though House Price-to-Income ratios remain below their historical averages, there is clear upward momentum. Amid the low interest rate environment, transaction volumes in the private housing market and HDB resale market have also been high despite the COVID-19 situation.
"If left unchecked, prices could run ahead of economic fundamentals, and raise the risk of a destabilising correction later on. Borrowers would also be vulnerable to a possible rise in interest rates in the coming years."https://www.channelnewsasia.com/singapor...db-2382301

[Blasterlord2]

This is the right move, otherwise we're heading in the direction of HK.

[[[ForeverAlone]]]

This is the right move, otherwise we're heading in the direction of HK.

of course , or else more Singaporean going to " kill themselves " own HUGE debts and loans.

[[[ForeverAlone]]]

But i tell you " surely still got people buy " Not sure is it " play money laundry " or " really don't scare DEAD "

[cityhantam]

"Entities" means? 

[Ernesto]

Isnt it what they hope for? Higher values reflecting our reserves and Banks earn higher revenue disregarding enslaving the majority whom just need a shelter over themselves.

[[[ForeverAlone]]]

This time they tell media release news so late LOL must be experience from last time.

Remember? when Gov going to increase, they announce the news at Evening ,

later few hours. A lot people Q outside Condo Showroom want to faster buy before new rule kick in.
Even reporter on the spot report live interview some buyers. A lot just claim want to buy now before new rules kick in.

[starbugs]

I was expecting higher property tax for non-owner occupied properties. Looks like the wealth of the wealthy are still well protected.

[JQK]

Fanning off and milking foreign buyers, first timers gets a better chance. A decent set of measures!

[toothpick]

Since Singapore Government tighten foreign S-Pass and EP approval, companies have to pay top salaries to young Sinkies to fill positions.

As such, today many young couples combine income S$20k/mth or more.

Buy a few houses, pay any ABSD, sup sup water lah.

[RiseofAsia]

Useless cooling measure… 

No more affordable house, only expensive house.

[sgbuffett]

I heard there is a loop hole by starting a business entity to buy property....true.?

[singlon]

The new standard is CREDIT-score.
for ex. Business not viable but contribute to the Great reset agenda will get better score even help
Remember ALL POKKAI
after COP26 failure to create mony(lending) out of thin air.
Prince Charles evoked HE(interpreted as anti-christ) chapter 13 of study-boy bible revelation.
To be armed with trillions richer than any gov. in the world.
Listener only 2 Primier of AU and UK

[ysh02]

DOW went up Sgx go down today ?

[theold]

The estimate is March 2022.

[dynamite]

DOW went up Sgx go down today ?

No. Go up up and away.

[RichDad]

Looks good. Taxing those who are buying to speculate or invest rather than living in it. More money for gahmen, cools speculation.