Saturday, 29 September 2012

6 Million in Singapore? Got enough oxygen to breathe or not?

6 Million in Singapore? I think even after the last elections, the PAP still does not get it !
They promised calibrated imports and reduction in work passes, but as time goes by there continues to be weak justifications and lame excuses on why we need more foreigners and why Singapore can squeeze more people in!!!!

WAKE UP! We do not want a country with 50% foreigners and 50% Singaporeans! And where everyone is struggling to breathe!
Singaporeans will definitely drop your votes in the next elections...mark my words....

Future MRT Train services...

Monday, 24 September 2012

Will Singapore follow Hong Kong to cap maximum loan tenor?

Will Singapore follow Hong Kong to cap maximum loan tenor?

Minister Khaw should !!

A recap of Hong Kong latest measures. The measures implemented by Hong Kong for mortgage applicants that have at least one existing mortgage are: a) debt-servicing ratio will be lowered to a maximum of 40% (previously 50%), and b) for mortgages assessed on applicant’s net worth, maximum loan-to-value (LTV) is lowered from 40% to 30% (applicants derive income from overseas, then LTV ratio is reduced by 20ppt). For all new mortgage applicants, the maximum loan term is now capped at 30 years.
The measures, if implemented, will have a bigger impact in Singapore than Hong Kong. The reduction in affordability would impact investment mass market demand negatively. However, the impact on the high-end segment is likely to be muted as buyers are generally cash-rich.

Sunday, 16 September 2012

Sunday, 2 September 2012

Singapore land for Singaporeans

When will Singapore do the same??!!! It is long over due!!!
! Singapore land for Singaporeans !

The leader of Hong Kong announced on Thursday that after years of price rises caused by an influx of rich buyers from mainland China, there will be measures put in place to prioritise the property market for local buyers. The chief executive, Leung Chun-ying said that he has instructed officials to make drafts for laws that would restrict the sales of certain properties to only Hong Kong residents, a measure being dubbed the ‘Hong Kong land for Hong Kong people’ policy, reported Asia One Business yesterday. 
This is to give priority to the housing need of the local residents,” said Leung.
 “We will continue to monitor the property market closely and introduce more measures if necessary,” he added.
Leung told reporters that the measures of the policy would include converting 36 sites from government and public-use buildings into residential buildings in order to boost land supply, providing space for an additional 12,000 residential units. Also included in the plans are measures to speed up approval for permitting the private selling of homes which would provide an additional 65,000 units during the next three to four years. The city has been constantly attempting to curb its increasing property prices, since home ownership is becoming beyond the reach of even the upper-middle class, a phenomenon which is fuelling public discontent.
Although Hong Kong has always been famous for its immensely high rents and rich tycoons, it is only in the last few years that property prices have surged, partly because of record low interest rates and partly due to wealthy investors from mainland China buying up homes at a rapid rate. Some analysts however, have said that the new policy plans will not be enough to keep the housing market in check.
“While the pledge to introduce more land in order to improve longer-term supply is welcome, the immediate impact appears limited, judging by the small amount of supply that will come through soon,” said Standard Chartered.
“Overall, we think the latest measures will at best help to calm the market,” added the bank in a research note.
According to Dow Jones Newswires, this year alone has seen the average price of homes in the city rise by approximately 13 percent. It has been reported that a luxury apartment in the city was sold for HKD470 million (US$60,598,040), making Hong Kong home to the most expensive condominium in Asia and the world’s second most expensive apartment outside of One Hyde Park in London.