Proportion of PRs buying resale flats drops from 20% to 12%

[BuiKia]

Prior to the intro, many PRs already bought their flats...so the next 3 years less PRs can buy but after the 3 years wait (after GE 2016?)...

The figure should go up because many PR already waiting to buy flats...

The proportion of PRs buying HDB resale flats has gone down since after new HDB rules were announced in August this year.

PRs now have to wait for 3 years after getting their PR status before they can buy an HDB resale flat. Previously, they could buy a resale flat as soon as they acquired PR status.

The ruling to stop new PRs from buying HDB resale flats immediately has had the most impact in bringing down the prices of HDB resale flats, according to people in the industry.

HDB also confirmed that in the 3 months (Sep – Nov) after the new rules were announced, PRs made up 12% of all HDB resale transactions, with 528 units sold to them. Prior to this from Jan to Aug this year, PRs made up 20% of all HDB resale transactions, with 2,581 resale flats sold to them.

HDB said there are now fewer PRs eligible to buy a resale flat.

Official figures show that Singapore granted PR status to about 30,000 foreigners a year or about 90,000 foreigners over the last 3 years.

Given that most PRs would rather buy a flat than to rent one and that HDB resale flats are the cheapest in the market, the buying curb on new PRs actually helped to take away a huge demand. Hence, with a sudden drop in demand, HDB resale prices naturally softened.

In fact, HDB resale prices started dropping in the third quarter (Jul – Sep) of this year, coinciding with the announcement of the new HDB rules:

In any case, looking at the many online postings, most Singaporeans would prefer PRs to be barred from buying HDB resale flats altogether, just like in the past before the 1990s. Many feel that as foreigners, they should simply rent. If they wish to buy an HDB flat, they should become a Singaporean.

 

[streetsmart73]

hi there


1. fat kid.
2. don't just believe what those figures got to say.
3. half-baked materials too hoh

 

[BuiKia]

If you look closer, it seems many things implemented are just to "tahan" until 2016.

hi there


1. fat kid.
2. don't just believe what those figures got to say.
3. half-baked materials too hoh

 

[I_Hate_Pappies]

If you look closer, it seems many things implemented are just to "tahan" until 2016.

Please support this Project.

 

[ginfreely]

should just bar PRs from buying HDB and tax them for the profit made when they sell HDB....this is something we should learn from Malaysia, no such thing as foreigners buying public housing and foreigners' profit are subject to much higher tax when selling....

 

[gingerlyn]

should just bar PRs from buying HDB and tax them for the profit made when they sell HDB....this is something we should learn from Malaysia, no such thing as foreigners buying public housing and foreigners' profit are subject to much higher tax when selling....

in malaysia, foreigners are not allowed to buy cheap property below certain amount of money.
in Singapore, PR can even buy 3 room flats.
what is that?

 

[Scrooball (clone)]

Best way is prevent foreigners from coming in first

 

[Trick]

Data and figures are man-made, take it as a grain of salt, especially from you know who.

 

[ginfreely]

in malaysia, foreigners are not allowed to buy cheap property below certain amount of money.
in Singapore, PR can even buy 3 room flats.
what is that?

Yeah lor not surprisingly there're many SPRs who'll go for 3 room flats due to lower quantum required, especially if they don't intend to stay long...whereas their own homes are safely out of bound to foreigners from where they come from...

 

[chootchiew]

Prior to the intro, many PRs already bought their flats...so the next 3 years less PRs can buy but after the 3 years wait (after GE 2016?)...

The figure should go up because many PR already waiting to buy flats...

Good analysis..now is time to apply for BTO that completes in 3 yrs time...HUATS AH !

 

[blindswordsman]

should just bar PRs from buying HDB and tax them for the profit made when they sell HDB....this is something we should learn from Malaysia, no such thing as foreigners buying public housing and foreigners' profit are subject to much higher tax when selling....

PR should be made to sell back their 2nd hand flat to HDB at valuation price when they give it up, and not to re-sell it in the open market to earn big profits. New HDB flats should not be sold by HDB to owners if their family nucleus is not totally SG citizen. No country in the world grants public housing to FTsh except PAP Govt.

 

[AhMeng]

PR should be made to sell back their 2nd hand flat to HDB at valuation price when they give it up, and not to re-sell it in the open market to earn big profits. New HDB flats should not be sold by HDB to owners if their family nucleus is not totally SG citizen. No country in the world grants public housing to FTsh except PAP Govt.

FUCK PAP :oIo:

 

[batman1]

Just a reminder to u all.PAP and Pinky Loong only cares about making money ftom the people.U sinkees die is your own business.
Pinky will only listen to u during General Election.
IF stupid and greedy and ballsless sinkees still want to vote for PAP,that 's it,they farked themselves for the next 5 years and this cycle has been repeated for the past decades.If sinkees want to fark themselvs and shoot themselves in the foot,then don't blame others and KPKP for the next 5 years.KNNCCB to the PAP !!!

 

[kezgtree]

PR should be made to sell back their 2nd hand flat to HDB at valuation price when they give it up, and not to re-sell it in the open market to earn big profits. New HDB flats should not be sold by HDB to owners if their family nucleus is not totally SG citizen. No country in the world grants public housing to FTsh except PAP Govt.

Capitailsm..

 

[Asterix]

Capitailsm..

It's spelled CAPITALISM you twit
Sinkies deserve the kind of Gahbrament they get
Caveat Emptor - let the buyer beware
There can be no vote buying unless there're vote sellers

[video=youtube;a9GftrRJXkE]http://www.youtube.com/watch?v=a9GftrRJXkE[/video]

 

[ginfreely]

PR should be made to sell back their 2nd hand flat to HDB at valuation price when they give it up, and not to re-sell it in the open market to earn big profits. New HDB flats should not be sold by HDB to owners if their family nucleus is not totally SG citizen. No country in the world grants public housing to FTsh except PAP Govt.

Yeah the common trick is just one person convert and the other one remain so as to qualify for new flat...the govt is the most silly to let foreigners take advantage of the situation and make big money out of public housing while heck care whether singles etc can qualify for housing in Spore....