Hi,
You do have a good observation. But are you aware in general who are the one that are still buying?
In fact, if you are not aware, lots of these buyers are the property agents and those who deal with property in profession.
Are these people do not need to pay ABSD? Well, most of them are paying ABSD as they already own more than 2 properties in Singapore.
I have just come across 2 groups of buyers, one own 3 properties, the other own 4 properties.
You properly heard a verse that had used since 1996/7 during the financial crisis that hurts Asia deeply; opportunity always comes along with crisis, in Chinese, 危机就有商机。
It is only those can see the opportunity that indeed profit from the crisis. The recent round of cooling measure is not a crisis, it is a measure implemented by gov to ensure any possibility of bubbling in property is suppressed immediately.
This is to ensure all developers and buyers do exercise their discretion before commit any buying. They are aware they can't suppress the growth in property, but ensure it grow slower than what the market is pushing.
No matter we like it or not, something we can't denied is the gov are the elite, smartest, well-educated, and closely united to ensure Singapore as a big ship can sail smoothly in this uncertainty economic situation.
They already gave a signal in the beginning of the year during the financial announcement that they are aware that property market is on the uptrend, thus imposed 4% Buyer stamp duty for property over $1M.
This cooling measure did not come as a surprise to us, who are close on the ground. But most of the buyer do not believed more cooling measure will be imposed in property. But we already know more will be coming.
Those who believed sees opportunity here, those who don't will remain waiting for gov to remove cooling measure.
I sincerely hope to have a in-depth discussion with you if possible. Otherwise I sincerely hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
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