Higher ABSD has turned property cooling measures into ‘freezing measures’ for foreign buyers
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- čas přidán 26. 04. 2023
- With foreign buyers already affected by the previous hike, property analyst Christine Sun says the 60 per cent additional buyer’s stamp duty could risk freezing them out of Singapore’s property market.
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I agree with this happening in Singapore - it makes it easier for younger Singaporeans and younger families to find a place to call home. Now for the UK to impose the same on foreign buyers which I'm already campaigning for :)
wait till you find out that foreigners here in Singapore buy properties almost all locals wouldn’t buy anyways, theres nearly no effect on the properties locals buy. They should just reverse this
Its should be freeze dried with 1000% for foreigners & not freezing only.
Apply PR gets discount, apply citizen gets more discount.....
Don’t even need that, quite a handful of such foreigners can get remissions for the ABSD
@@ryantan1022 when our DPM w0ng never complete his standard NS, tats tell u NS is for suck3r....
As a person from Shanghai, Singapore homes are too cheap
The key issue is that public housing includes land costs, and it was clearly stated that land and its value consist part of our reserves, as such, why are our supposed reserves being allocated and used for PRs and new citizens by way of such persons applying for BTO which is public housing at a significantly subsidised rate at the very least in contrast to the value of surrounding properties ?
For new citizens, the first generation is exempt from NS, this is inequitable as in general, it can be presumed that such persons who acquire the BTO HDB did not contribute to the same standards as local born Singaporeans particularly in cases where they could. If local born citizens serve NS and reservist even till their 40s I don’t see why a first gen citizen should not especially when they enjoy BTO HDBs which consists of public funds and our reserves (land).
prices for both private and public housing will continue to go if the gov continues with its open-legs policy. it's a no-brainer. we live on a 700sq km (at low tide) island. how can property prices stay flat when the population keeps going up? gov keeps going around in circles on this in the past 18 years. when local citizens raise the issue, they call us xenophobic and racist. really exhausting. time for a change. VTO.
Let them pay
The government has done many rounds of cooling measures. However, after a short while private property prices rebound even higher. As a result, our plan to move to a private property didn't happen. Instead, we sold our private properties after TOPs & SSD lock in periods and made good profits.
Cooling measures are useless to foreign buyers who are super rich..
How helpful has all such measures been??
Hope younger generation Singaporean can still buy landed property in the future. Still within reached for Singaporean who aim high in life.
This may not be as effective as one might expect, as the high net worth foreign buyers could try to apply for PR and/or Citizenship, and thereafter qualify to buy with 5% or even 0% ABSD. According to our government figures, in 2021 alone, 21,537 individuals were granted Singapore citizenship and 33,435 were granted Permanent Residency. I expect these figures to be similar year-to-year. If only 10% of these were to go on to buy homes, this means some 5,500 buyers formerly classified as foreign will be able to buy with zero or 5% ABSD, EVERY YEAR.
Government should be doing something about commercial real estate because that is what the wealthy is buying up as investment - ABSD-free. Smaller companies should come first instead of deterred by sky high rentals.
A moment of silence for foreigners about to buy but yet to buy.
Just pour some water on a fire, won’t freeze la. Right to curb the prices. Should have done earlier.
We also pay via fees and charges, both real and hidden. We have among the most sophisticated systems in the world for charging for road usage, and owning a car is 3 to 4 times more expensive than elsewhere in the world. Our public housing embeds land costs, which can get inflated, and runs the risk of adding to an already-unbearable cost of living. HDB grants offset some of this burden, but it’s unclear whether these go disproportionately toward those who need help the most.
If grants don't help poor people, then what helps? Martin u go help OK?
The key issue is that public housing embeds land costs, and it was clearly stated that land and its value consist part of our reserves, as such why are our supposed reserves being allocated and used for PRs and new citizens by way of such persons applying for BTO which is public housing at a significantly subsidised rate at the very least in contrast to the value of surrounding properties ?
Jamus Lim has voiced his skepticism about the low burden of taxation claimed by Deputy Prime Minister Lawrence Wong in his roundup speech for Singapore Budget 2023.
Why then do our middle classes feel so aggrieved and embattled? Are we spoiled complainers, ungrateful for the how good we have going?
Yes u r spoilt
This is why we want PAP.
Or is there something about our lived experience that speaks to a greater truth?
Look, there isn’t any magic when it comes to public services. If we want to pay less on taxes, we’ll either have to accept lower quality, or less coverage, or longer waits. Some of it may be offset by high efficiency, but such gains can only go so far. Or we pay, through other means. So when we make the claim that we are paying low taxes and yet have a world-class educational outcomes, it shouldn’t surprise us that we are making it up with private tuition spending due to oversized classes. Or that our public hospitals-while still endowed with some of the best equipment and amazing doctors-require our patients to endure long waiting times.
Most of the property agents crying rn
Incorrect assessment - guess it’s her bread and butter so it’s biased. This 60% will screen really good well off foreigners and prioritize Singaporeans
Why not change to new citizen. No more absd. Save money on death taxes from previous citizenship and buy COE and pay absd for free.
😂😂😂😂😂😂 one way ticket
A key issue is to do with PRs (with local spouse) and new citizens who apply and are allocated HDB BTO which consist of significant subsidies from public funds and our reserves (land).
Furthermore, these PRs and new citizens generally do not serve NS, yet they qualify for housing where many who served similarly would have to compete for the limited supply. This is notwithstanding the fact that those who serve are deprived of 2 years of full salary and would start off on with a financial disadvantage in contrast to these PRs and new citizen families.
But you never make babies leh😂😂😂😂
Govt effectiveness in s'pore is ranked top in the world! 👍👍 The whole world acknowledges that s'pore has a first-world PAP but third-world oppositions which are redundant.
You invest, profit in exports, not to jackup living expenses for citizens of host countries.
See what happened in Hong Kong.