Singapore’s very high household debt

[lifeafter41]

I came across IRAS stat that less than 4% of S'pore pop (income and/or prop tax paying) owns a 2nd property (including commercial prop). The perception that many singaporean has a 2nd property as investment is misplaced.

That's interesting on the 4% as I know of 3 friends that have 2 properties, one of them even have 3.....

 

[xebay11]

That's interesting on the 4% as I know of 3 friends that have 2 properties, one of them even have 3.....

That's because the rich don't pay income tax, or the properties are under different spouse's names.

 

[Kuailan]

I dun see how young couple can afford a 5-room 600K BTO flat unless they topup with cash every month.

The HDB prices should be at its peak hampered by CPF ceiling and low income of the average sinkies.

A Pigeon Hole and a car in Stinkapore will cost you an arm and a leg!!

You will be greatly indebted to the PAP (Pay And Pay)

Pigeon Hole over inflated! Motorcar gahmen screw you deep deep with

their artificial COE (Certificate of Extortion!) LTA 125% tax, Custom duty 45%

ARF another $11.5k to $14K!! Importer no need to earn anything arh??

Have to provide 3 to 5 years unlimited warranty!! another 40% added to the

car!! the poor buyer ended up paying like hell!!

 

[tonychat]

You voted for it... So fucking deal with these shit.. Sinkie sinkie.

 

[lifeafter41]

That's because the rich don't pay income tax, or the properties are under different spouse's names.

While I am not sure about "the rich don't pay income tax" my thought is that even though if the properties is under different spouse name, if they are working, it should be reflected in the income side, under rental income, hence should reflect in the stats, or.........

Though come to think of it, the rich wants to pay more income tax, so that they are able to take a higher loan vis a vis to their income for that particular year......or does that not make sense.

 

[halsey02]

That's because the rich don't pay income tax, or the properties are under different spouse's names.

Different spouses, concubines & 'porcupines'.....plus ahmad, ah gu & ah kow & ah huay & ah .....all can use their names...but all must kiss the 'ring'....& when call upon in the future..cough out the 'goods'..or they will cough up blood... ha ha ha ha

 

[halsey02]

A Pigeon Hole and a car in Stinkapore will cost you an arm and a leg!!

You will be greatly indebted to the PAP (Pay And Pay)

Pigeon Hole over inflated! Motorcar gahmen screw you deep deep with

their artificial COE (Certificate of Extortion!) LTA 125% tax, Custom duty 45%

ARF another $11.5k to $14K!! Importer no need to earn anything arh??

Have to provide 3 to 5 years unlimited warranty!! another 40% added to the

car!! the poor buyer ended up paying like hell!!

Don't worry lah!...the PAP are your 'servants'....don't believe me ask mee siam mai hum....no complain....just enjoy

 

[knowwhatyouwantinlife]

While I am not sure about "the rich don't pay income tax" my thought is that even though if the properties is under different spouse name, if they are working, it should be reflected in the income side, under rental income, hence should reflect in the stats, or.........

Though come to think of it, the rich wants to pay more income tax, so that they are able to take a higher loan vis a vis to their income for that particular year......or does that not make sense.

Absd 7% on second prop so maybe put someone else's name

 

[Black Swan]

Absd 7% on second prop so maybe put someone else's name

Engage your brain b4 you respond. Would you buy a property under somebody else name? Even pay 100% in cash?

 

[knowwhatyouwantinlife]

Please tell your mother I fucked her and you are my son...

 

[frenchbriefs]

I came across IRAS stat that less than 4% of S'pore pop (income and/or prop tax paying) owns a 2nd property (including commercial prop). The perception that many singaporean has a 2nd property as investment is misplaced.

4 percent of the pop is quite alot of people,considering property is very expensive investment in singapore and majority of people take 20 to 30 years of their lives to pay it off.its in conjunction with 10 percent millionaires in singapore which is about 110,000 millionaires.

 

[Black Swan]

4 percent of the pop is quite alot of people,considering property is very expensive investment in singapore and majority of people take 20 to 30 years of their lives to pay it off.its in conjunction with 10 percent millionaires in singapore which is about 110,000 millionaires.

Not pop but only those paying tax (income or property) and can safely assume those liable to pay tax should be earning more than the official median (2014) income of $3770/month.

 

[eatshitndie]

Engage your brain b4 you respond. Would you buy a property under somebody else name? Even pay 100% in cash?

there's much shenaniganery and risk-taking of using a relative's name to secure secondary properties in sg to avoid absd. sinkies are known to be penny wise pound foolish. and then the lawsuits when shit hits the fan.

this is just one example, and it involves a hdb flat. there are more lawsuits going on involving private properties.

http://www.starproperty.my/index.ph...daughter-over-share-of-property-in-singapore/

 

[JHolmesJr]

Thanks for posting pics of these two cunts….typical ugly money hungry singos man….lol.

 

[eatshitndie]

Thanks for posting pics of these two cunts….typical ugly money hungry singos man….lol.

it helps with my bowel movement but spoils my lunch.

 

[lifeafter41]

Not pop but only those paying tax (income or property) and can safely assume those liable to pay tax should be earning more than the official median (2014) income of $3770/month.

Based on 4% of those paying tax (income or property) the numbers will be very low.....
It will be interesting to have sort of a breakdown, like 2 properties...%, 3 properties....%, 4 properties....% and more.

Just on 3 properties alone, one/both (husband/wife) will need to have at least 3 million assuming, 1 hdb and 2 private properties......

I guess for most Singaporean, paying down one hdb, already want to die liao, what more, 2 or 3?

 

[dancingshoes]

there's much shenaniganery and risk-taking of using a relative's name to secure secondary properties in sg to avoid absd. sinkies are known to be penny wise pound foolish. and then the lawsuits when shit hits the fan.

this is just one example, and it involves a hdb flat. there are more lawsuits going on involving private properties.

http://www.starproperty.my/index.ph...daughter-over-share-of-property-in-singapore/

View attachment 24202

money is the root of all evil.:o

 

[yahoo55]

Private residential property prices have been falling for 2 years and counting, from the peak of 154.6 in Q3 2013 to currently 142.3 in Q3 2015. Prices have fallen 8% from peak so far, but the price decline is getting steeper than previous quarters. The pace of decline is getting faster as demand has crashed, vacancy rates are escalating, mortgage rates are rising and the economy is heading for a recession.

Hope the evil greedy private developers and property speculators die pain pain.

Private residential prices slipped 1.3% in Q3


Prices in the OCR saw the biggest decline.

Flash estimates released today by the Urban Redevelopment Authority (URA) show that the overall private residential property index fell to 142.3 points in the third quarter, representing a quarterly decline of 1.3%.

This represents a greater pace of decline compared to the 0.9% contraction in the previous quarter.

Prices of non-landed private residential properties declined in all market segments. In Core Central Region (CCR), prices fell 1.3%, compared to the 0.6% decline in Q2.

Prices in Rest of Central Region (RCR) fell 1.5%, compared to the 0.6% decline in the previous quarter.

Meanwhile, In Outside Central Region (OCR), prices fell 1.6%, compared to the 1.1% decline in the previous quarter.

- See more at: http://sbr.com.sg/residential-prope...-prices-slipped-13-in-q3#sthash.l5eSqBbG.dpuf