Serious PAP Desmond Lee Decides To Fuck Foreigners And Put Sinkies First! 60% ABSD For Foreign Property Buyers! Oppies Happy Now?

[JohnTan]

 

[Scrooball (clone)]

Lol… u think they did it out of the kindness of their heart and empathy for Sinkies?

To LKY’s point, what’s wrong with collecting more money?

 

[JohnTan]

Lol… u think they did it out of the kindness of their heart and empathy for Sinkies?

To LKY’s point, what’s wrong with collecting more money?

You think oppies oppose PAP out of the kindness of their hearts? They just want to see Singapore burn.

 

[congo9]

Hahaha
60% ABSD !? Why not 100%

 

[SBFNews]

What about these fuckingrich foreigners bidding up the COEs? No ABSD on them?

 

[Hypocrite-The]

If pap really want to fuck foreigners... Eliminate the ceca agreement...n PRs pay the new tax rates too

 

[Merl Haggard]

If pap really want to fuck foreigners... Eliminate the ceca agreement...n PRs pay the new tax rates too

 

[batman1]

WHY all the senior managers got the name GUPTA ? All from the same village ?

 

[ChinaCommunistSG]

When will Desmond Lee fuck pap and introduce inheritance tax ?

 

[zhihau]

For once this is good, next up, please reinstate estate duty and back date it to when it was last effective.

 

[Scrooball (clone)]

The next one is to impose higher taxes on foreigners coming in. Increase levy. Wanna hire foreigners, pay for a certificate which needs to be renewed yearly.

 

[oliverlee]

Shit tons of money and resources already transferred here over the last year. Time to put things to a halt before more ppl sit up and question. Already they had to defend themselves recently by saying they didn’t instruct the banks to keep quiet about the transfers. Greed has no compunction but putting on a freak show for the coming elections is more vital at this point

 

[Willamshakespear]

The insignificant nobody me rare salute, to MP Desmond Lee for his foresight, courage & determination to uplift citizens.

To be rich in our shared World, one will have to step upon others to rise. It's cruel, but it CAN be moderated & regulated so that none will be left behind or shortchanged. Investments are needed, but none needs to become rich at the expense of others. Investments seek the fastest route to wealth, & much wealth can be gained from property holdings, as it is a simple fact that the basic needs of Humanity is shelter - a roof overhead, & as population growth increases thru the ADVANCES of science, medical research & its benefits, more & more, including next generations will survive & have basic needs.

In land scarce Singapore, as well as being a center point where all nations meet for TRADE, it is only LOGICAL that our tiny nation's small land space will eventually be used up, even beyond the imagination of our far sighted & visionary forefathers & founding fathers, even as they attempted what most in other nations had not done back then - to build hi-rise flats as accommodations to house EVERY citizen when they took power . It became a top investment choice for property holdings for intelligent smart locals such the late Mr. Ng Beng Seng & far ahead thinking foreign investors whom due to the land scarcity in Singapore, home prices will rise & fast, & best for ROI.

Unfortunately, it is also mere basic Economics. Should property price rise far too fast, it will only alienate growing citizens - our young, & may become beyond their means to finance homes, leading eventually to a brain drain or an angered citizenry deprived of a shelter for themselves & their loved one, a promised made 58 yrs ago by leaders.

Foreign investments in our properties will for sure bring in revenues for national social revenues thru stamp duties & taxes, to fund social expenditures such as schools, health, defence, etc, but it does not perform a CRITICAL role & principle of foreign investments in Singapore - creation of jobs so that $$$ can be CIRCULATED to all. Only a single lawyer for each or many other properties from a single buyer benefits. Property purchases may not even benefit our construction or home renovation industries, as such investors only need to hold the land or flat space for a few yrs & see a huge ROI, as others - foreigners or our sad but aspiring citizens will buy, in land scarce Singapore, in the hope that such gravy train will continue, which is in reality only a bubble...

Thus a need to moderate the needs for investments, especially in property holdings. Investors will always be welcomed in Singapore, & there are a wide range of legal & honest biz activities that will see better ROI here with proven educated & hardworking citizens, such as in hi tech manufacturing, Finance, F&B, services, etc.

However, for property investments, they best seek out USA or UK, where there are LARGE land holdings which would give good ROI with conscience & without civil disruptions to society, such as in New York Manhattan or London, etc.

 

[Dr Christopher Cheok C S]

Even ABSD increased for locals.

It no longer makes sense for locals to buy more units for rental-collection, they will switch to owning larger resale units that they can segregate into own-stay and rental. HDB and condo maisonette units will benefit from this trend. Going forward, developers will also combine two or three units into dual-key or triple-key to be sold under the same title for locals to evade the system legally.

 

[birdie69]

Desmond is going to cause a big rise in resale flat price, instead of protecting locals, he makes our young generation suffer more.
The price of BTO tied up with resales flat price, it is going to rise too!

 

[mahjongking]

fucking wayang, how many rich non local people already bought over the years?

 

[Willamshakespear]

With the new cooling measures:,

1. Property investors would be deterred from further property investment & speculations, but to only use space for sole residential purpose.

2. Less private properties sold=prices will fall, so too hdb resale. Law of supply & demand.

3. Construction industry will have to rationalise costs to stay afloat

4. BTO price falls

5. More will turn to rent out rooms instead. More availability of rooms=rent price falls

6. Market stabilises.

 

[Merl Haggard]

The insignificant nobody me rare salute, to MP Desmond Lee for his foresight, courage & determination to uplift citizens.

To be rich in our shared World, one will have to step upon others to rise. It's cruel, but it CAN be moderated & regulated so that none will be left behind or shortchanged. Investments are needed, but none needs to become rich at the expense of others. Investments seek the fastest route to wealth, & much wealth can be gained from property holdings, as it is a simple fact that the basic needs of Humanity is shelter - a roof overhead, & as population growth increases thru the ADVANCES of science, medical research & its benefits, more & more, including next generations will survive & have basic needs.

In land scarce Singapore, as well as being a center point where all nations meet for TRADE, it is only LOGICAL that our tiny nation's small land space will eventually be used up, even beyond the imagination of our far sighted & visionary forefathers & founding fathers, even as they attempted what most in other nations had not done back then - to build hi-rise flats as accommodations to house EVERY citizen when they took power . It became a top investment choice for property holdings for intelligent smart locals such the late Mr. Ong Beng Seng & far ahead thinking foreign investors whom due to the land scarcity in Singapore, home prices will rise & fast, & best for ROI.

Ong Beng Seng is not dead yet, but he's down with advance bone cancer.

 

[Willamshakespear]

Ong Beng Seng is not dead yet, but he's down with advance bone cancer.

It was the legendary Ng Teng Fong, founder of Far East Organization, that I meant, whom had been known as the King of Orchard Road, with his far visionary & confidence of Singapore's progress & evolution, & thus his nickel & dimes savings to buy up properties way back then & built up a property empire for his descendants.

My humble & sincere condolences to Mr. Ong Beng Seng, whom equally if not on a lesser scale to that of the late Mr Ng T. F, but he had the same vision over property investments & confidence in Singapore. He too is one of us & had contributed to our society. May he recover from his illness, with help from our advances in med science...

Both had gained enormous wealth from their honest & legitimate dealings, with the principle of providing homes & shelter, for both locals & foreign contributors to our nation. May their descendants do the same, but with priority to provide AFFORDABLE homes for fellow citizens in land scarce Singapore. Without the nation, elected govt & citizens, they would not had the OPPORTUNITIES to live their dreams...

 

[JohnTan]

Even ABSD increased for locals.

It no longer makes sense for locals to buy more units for rental-collection, they will switch to owning larger resale units that they can segregate into own-stay and rental. HDB and condo maisonette units will benefit from this trend. Going forward, developers will also combine two or three units into dual-key or triple-key to be sold under the same title for locals to evade the system legally.

My wife and I stopped buying new residential properties for rental when the ABSD went above 10%.