On October 17, National Development Minister Lawrence Wong told the press that it is still not time yet to unwind the cooling measures. Price adjustments so far have been moderate compared to the increase in prices in the past few years. Price corrections are moderate So how “moderate” is price adjustments? Have price corrections been “meaningful” so far? According to URA, … [Read more...]
Put yourself to the test: the Property Financing Quiz
How knowledgeable are you with housing loans? Do you know enough about TDSR? How good are you in negotiating with the banks? Dare to challenge yourself by taking a short 10-question quiz? 1. Please refrain from checking the answers in the internet. No cheating please! 2. Participant with the highest score stands the chance to win a special prize at the Understanding … [Read more...]
Developer invited you to play Project Discount
To survive the cooling measures, property developers have no choice but to constantly come up with creative ways to move their units from the shelves. Buyers are a rare species Where can they find that rare species called buyers who possess all of the following? - Can afford the hefty cash downpayment of units in new projects; - Are willing to pay 5, 7, 10 or 15 percent … [Read more...]
Can you afford your dream home after taking the 3-3-5 test?
Earlier this week, a repost of my article "A Simple Affordability Test" by Yahoo News and Propwise.sg from my book No B.S. Guide to Property Investment has sparked off some debate online. Below is the original article in my book for your reference: A simple affordability test Daniel is a single in his mid-thirties. He is staying with his parents now but is … [Read more...]
How necessary is the exemption of the TDSR rules?
On Monday evening, the Monetary Authority of Singapore (MAS) suddenly issued a press release to broaden the existing exemption from the Total Debt Servicing Ratio (TDSR) rules introduced in June last year. Fine-tuning financing restrictions a norm? Financing restrictions introduced by MAS under the context of prudent borrowing are usually made effective the following day. … [Read more...]