Singapore needs more aggressive cooling measures. the attached article is a quote by Barclays originally published by Bloomberg (unnamed author) and printed by EdgeProp Singapore quite curious pipeline of the written word. Anyway basically states that if the government does not want to lose votes, we need more cooling measures (my own interpretation) my suggestion ● 200% foreign buyer stamp duty ● -3% foreign seller stamp duty if selling to Singaporeans (incentivize foreigners sellers to sell to Singaporeans) ● stop sales of commercial shophouses to Foreigners. ● stop investments into hotels and any form of residential listing to foreigners via REITS or Property Funds. Ours is a particularly small land mass. 740sqkm. We only have a limited amount of housing. To Singaporeans ● 2nd home ABSD 50% ● 3rd home ABSD 100% ● 4th home ABSD 150% in terms of inheritance, each child is allowed to inherit one home from their deceased parent. parent had 1 home parent has 1 child 1home = 1child parent had 2 homes parent has 1 child 1home = 1child 2nd home must be sold into the market with 365 days of legal probate being issued. etc etc We need to bring existing homes of Singaporeans with 3-5 homes back into the market after they are gone. Also we cannot allow trust and foreign entities to own anything in Singapore without clear parth of finding the actual owner. Not VBIs, not shell companies in Seychelles or Mauritius etc etc. This has to end now. 1 home for 1 Singaporean, That is it. Criticism must be backed by alternative solutions. Easy to criticize and offer no alternative.
Vimol Kogar’s Post
More Relevant Posts
-
A peaky property market is particularly problematic for Hong Kong’s government, which relies heavily on revenue from land sales to fund its low-tax system https://econ.st/3VcdD1m
Hong Kong’s property slump may be terminal
economist.com
To view or add a comment, sign in
-
Latest Australian Property Markets News and Forecasts
Latest Australian Property Markets News and Forecasts
propertyupdate.com.au
To view or add a comment, sign in
-
Latest Australian Property Markets News and Forecasts
Latest Australian Property Markets News and Forecasts
propertyupdate.com.au
To view or add a comment, sign in
-
Australia’s property market has shifted, again. Prices have become more stable than last year. The recent RBA announcement solidified the confidence of property buyers and sellers. So if you would like to downsize or upsize, you can confidently do this in the same market. If you’re thinking of buying or selling your property, you can contact me at 0421 380 829. *not financial or legal advice
To view or add a comment, sign in
-
Inevitable... But is it viable and in time? Vice-Premier He Lifeng today called on local governments to purchase undeveloped land and unsold homes from property developers. This is likely Beijing's bid to shore up the broader economy, and, perhaps a last ditch effort to rescue the property sector. “Local governments should recover or purchase the idle stockpile of residential lands properly according to the situation, to help ease pressure on distressed developers” Given the financial predicament of almost all local governments, Vice-Premier He's call is an unwelcome "mandate" which adds further stress to cities and provinces. What's interesting is the timing of He's remarks. Beijing today auctioned 30-yr bonds at a yield of 2.57% as China kicked off sales of 1-trillion-yuan long-term special bonds to help stimulate a flagging economy. It's safe to say some of the proceeds will be transferred to local governments and allocated for the purchase of "undeveloped land and unsold homes from property developers." Personally, I suspected this has been in the works for quite some time as I was approached weeks ago by distressed asset funds and traders in the secondary market for yuan bonds. Certainly hope this latest strategy by the central government will resuscitate the property market and, in turn, the economy. #china #economy #propertymarket #localgovernments https://lnkd.in/gKdnYPcz
Chinese vice-premier calls on cities to buy back residential land, unsold homes
scmp.com
To view or add a comment, sign in
-
The Hong Kong Government has removed #mortgage stress testing measures aimed to cool residential values. Could the UK and others follow as the Government looks to support access to home ownership? Over the last decade, post the GFC, financial regulators around the world have introduced measures to stop cheap money leading to boom and bust in house prices. Its worked, especially in the UK but come at the cost of creating high barriers to entry for first time buyers and those with low amounts of equity. This week the Hong Kong government has removed stress testing in an effort to support the economy and housing market where prices have fallen unlike in the UK. The UK could have done with more of a pricing reset to improve affordability but regulations have reduced the amplitude of the house price cycle. Its an interesting move by Hong King and comes at a time when Government's are looking at ways to support #housing markets suffering from higher borrowing costs and a cost of living squeeze. Its topical in the UK where the newspaper headlines are trailing 1% deposit mortgages to help renters struggling to buy and passing steep 9% mortgage #affordability stress rates for 2-5 year fixed rate loans. Its one to watch as the political pressure to support first time buyers #FTB grows and where opening up long term fixed rate loans seems the only realistic long term solution. https://lnkd.in/eN5frdRs
Hong Kong Scraps Property Curbs and Raises Taxes for Highest Earners
bloomberg.com
To view or add a comment, sign in
-
Important update for property investors. Australia is making changes to fees for foreign purchasers of existing homes, with fees set to triple in 2023. This article breaks down the details, sharing how this policy shift may impact the real estate landscape. As the government adjusts regulations, investors must stay informed about evolving market dynamics. Read the full article here: https://bit.ly/48hvLeF #PropertyInvestment #AustraliaRealEstate #CleverFinanceSolutions
To view or add a comment, sign in
-
The Chinese government's announcement of a Rmb300bn ($41bn) fund to support government purchases of unsold housing suggests a significant move to address the three-year slowdown in the country's real estate market. However, analysts and economists argue that the allocated funds, though substantial, may not be sufficient to fully resolve the crisis that has been weighing on China's economy.
China has finally unveiled its property rescue plan. Will it be enough?
ft.com
To view or add a comment, sign in
-
𝘛𝘩𝘦 𝘳𝘦𝘢𝘭 𝘦𝘴𝘵𝘢𝘵𝘦 𝘴𝘦𝘤𝘵𝘰𝘳 𝘪𝘴 𝘯𝘰𝘵 𝘢𝘧𝘳𝘢𝘪𝘥 𝘰𝘧 '𝘚𝘦𝘵𝘩𝘢' 𝘧𝘳𝘰𝘮 𝘩𝘪𝘴 𝘱𝘰𝘴𝘪𝘵𝘪𝘰𝘯. 𝘏𝘰𝘱𝘦 𝘵𝘩𝘦 𝘯𝘦𝘸 𝘨𝘰𝘷𝘦𝘳𝘯𝘮𝘦𝘯𝘵 𝘸𝘪𝘭𝘭 𝘤𝘰𝘯𝘵𝘪𝘯𝘶𝘦 𝘵𝘩𝘦 𝘰𝘭𝘥 𝘱𝘰𝘭𝘪𝘤𝘺 . The real estate sector remains optimistic despite potential political changes. Mr. Sunthorn Sathaporn, President of the Housing Business Association, stated that the dismissal of Prime Minister Settha Thaweesin would not significantly impact the market. Existing policies, such as the DD home loan project and amendments allowing increased foreign ownership, are expected to continue. Although the formation of a new government may cause delays, the overall economic recovery is anticipated to proceed as planned. Additionally, measures like low-interest loans and potential policy rate reductions by the Bank of Thailand are expected to boost purchasing power and market demand. . Source: Thansettakij https://lnkd.in/g5gpWpbR #ThaiRealEstate #RealEstateNews #GovernmentPolicy #DDhomeLoan #MarketDemand #CollectionProperty is a professional #ThaiBrokerage where we offer comprehensive transactional services.
To view or add a comment, sign in
-
〽 What Drives Price Growth in Australia’s Property Market? 〽 With a potential rate cut on the horizon, Australia’s property market is at a turning point. As we evaluate what drives price growth, several key factors come into play: 🔸 Interest Rates: Nationally, house prices correlate closely with interest rates. Higher interest rates reduce borrowing power, affecting markets like Sydney and Melbourne the most due to higher debt levels. In contrast, markets like Perth are influenced more by commodity cycles than rates. 🔸 Property Supply: A rise in listings can moderate price growth. While Melbourne and Sydney face this due to higher taxes and interest rates, Brisbane and Perth have seen no such slowdown, despite increasing listings. 💛 At Ray White CHK, we are committed to helping our clients navigate the dynamic property market by providing expert advice, innovative solutions, and personalised service. 🔗 Read more factors here: https://lnkd.in/gVjw7DV9 #RayWhiteCHK #MelbourneProperty #AustraliaPropertyMarket
What drives price growth?
raywhite.com
To view or add a comment, sign in
Project Majulah
3wDesmond Lee logical suggestions.