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Hi Sylvester,

The government has reiterated publicly that they are committed to a stable and sustainable property market, this is of public knowledge. My 2 cents opinion is that if prices and volume drop significantly in the upcoming quarters, loosening the cooling measures may become a possibility to give a boost to the real estate sector though this is not a guarantee but just a personal guess. This is also one of the factors why buyers are still committing to properties during this circuit breaker period, to avoid competing with another wave of buying demand later down the road. They also feel sufficiently confident about financing the property now and their prospects and they know they are buying for the long term where prices will recover eventually. With interest rates at all time lows, it is also relatively easier to service any mortgage.

If you are planning to get a property, you may wish to start actively looking around and see how things play out. In any case, if opportunity springs up, at least you are ready to capitalize on it.

All above opinions are my own, and just my 2 cents opinion. Happy to hear your interpretation of the market as well and exchange pointers.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Hi Sylvester,

I personally feel that it is unlikely that the stamp duties will be adjusted for property buyers looking to purchase their 2nd or 3rd property. Stamp duties generated are either to be put into the budget or the reserves, therefore given that the government has allocated an unprecedented budget for this pandemic, there must be avenues for the funds to grow when the pandemic is over.

The relief to assist developers could come in the form of extending their deadline in selling out the units in my personal opinion. The whole idea of implementing the ABSD is to keep speculation of real estate in check, as well as to ensure that buyers are ready to own the subsequent properties, therefore even in the event that market does experience a major correction, the stamp duty will still be in place to hold its objective.

If you are considering the purchase of subsequent properties, there are definitely still good options out there to be explored.

Feel free to get in touch with me should you require further assistance.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
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Hi Sylvester, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, ABSD will be here to stay and if the government will to step in to help, the government will not waive off the ABSD but will loosen the cooling measure by lowering the stamp duty rate.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Sylvester, what do you think will happen IF the ABSD is waived on 2nd and 3rd pty? Do contact me at 97970200  to discuss more

Mark, your RIGHT choice
Propnex Read More

Hi Sylvester,

If you had followed the property market closely and understand the reasons of the various cooling measures, you will understand that the Government encourage prudence, and certainly do not encourage people to speculate on property prices.

I personally think it is highly unlikely that the Government will remove or reduce the ABSD just for people to own more than 1 property. That is simply not their priority.

If you're worried about the Developers not being able to boost sales, there are other measures in place to allow Developers ample time to sell off their balance units. For example, extension of the ABSD for Developers due to Covid-19, reduction of land parcels for sale under Government Land Sales (GLS) to manage Supply vs Demand etc.

Instead of waiting for relaxation of the cooling measures, have you look into all your available options in your portfolio restructuring process?

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi Mr. Sylvestor,

Good question, I believed there are many others also like to know.

I only can offer a personal thought which might not be on the same page as gov, but you may take it as a 2nd opinion.

1) Gov had implemented multiple; 9 of them if add in the last implemented on 5th July 2018.
2) The most critical cooling measure was TDSR implemented on 2013 which peel off property price index from GDP growth.
3) If you monitor and map GDP growth and property price index of anywhere in the world. You will noticed that these 2 graph are growing and drop together. Thus if there is a growth in GDP, their property price will follow, and vice versa.
4) In Singapore situation, you will noticed that since 2013, property price index is peeled off from GDP growth. Thus though there might be certain degree of inter-relation, but because property price index is now way below the line graph of GDP growth, meaning property price is not directly impact by GDP index directly.
This is inline with gov plan. So as property price is stable and sustainable when there is an economy downturn.
5) Investor or home owner property will not be called by bank due to change of interest rate or force sale due to poor economy performance of other industry. This is the main objective of maintain sustainability.
6) 2020 new launches is around 40 of them. Mainly concentrated in Core Central Region. This is the region where you see more foreigner than local owner. This is the richman zone where they invest based on value rather than quantum. They are subject to ABSD to invest in any good investment city. I can share more if you're interested.
7) Gov already reduce GLS since 2019 to ensure no over supply. If you look closely at the new launch in 2021, you will realised there are handful. Because of lower GLS & enbloc, we saw number of new launches are getting lesser and lesser. 2020 might be the last to get some good buy in new launches.
8) With the current number of units from developer holding, they have more than sufficient time to sell them. On top of that, they still can apply for time relief from gov to delay paying their ABSD due to this CCB.

By analysing the above points, highly unlikely gov will waive ABSD.
To be honest, I still see sales in some of the new launches which I monitor closely. The most recent big transaction ($21.68 mil) is a Good Class Bungalow at Windsor Park bought without viewing.
https://www.edgeprop.sg/property-news/good-class-bungalow-windsor-park-bought-2168-mil-without-viewing?utm_source=pushengage&utm_medium=pushnotification&utm_campaign=pushengage#.Xq93-31Yq_E.facebook

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
https://www.facebook.com/Homesellerbuyer/

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