Wednesday, September 15, 2010
Minister comments on latest property measures
The latest set of government measures to cool the property market will not affect genuine buyers and are intended to develop a “sustainable” market, said Mrs. Lim Hwee Hua, the Second Minister for Finance and Transport.
“What will be sustainable is property purchases or price increases that is justified by the amount of wealth that a person has,” said Mrs. Lim at a post-National Day Rally dialogue for women grassroots leaders. “What is not sustainable is when people borrow from banks to speculate. What we want to do is to take out this speculative activity. The main thing is to make sure banks don't lend unnecessarily, that people don't get easy access to money. Genuine buyers will not be affected by this.”
When asked about the effect on property prices from foreign investors, Mrs. Lim said the measures are not meant to ban foreign investors from the real estate market.
“Closing the doors on foreigners doesn't necessarily mean we will have a better market. Because that would mean we would be buying among ourselves and the market could stay very down if it's only all local owners,” she said.
Under the new rules, homebuyers will benefit from an increased supply of HDB flats, and the income cap adjustment will address problems of those in the “sandwich group”.
Mrs. Lim said the measures aim to maintain the affordability of flats and give more choices to those in the “sandwich group” as they can already opt to buy DBSS or EC flats.
“What will be sustainable is property purchases or price increases that is justified by the amount of wealth that a person has,” said Mrs. Lim at a post-National Day Rally dialogue for women grassroots leaders. “What is not sustainable is when people borrow from banks to speculate. What we want to do is to take out this speculative activity. The main thing is to make sure banks don't lend unnecessarily, that people don't get easy access to money. Genuine buyers will not be affected by this.”
When asked about the effect on property prices from foreign investors, Mrs. Lim said the measures are not meant to ban foreign investors from the real estate market.
“Closing the doors on foreigners doesn't necessarily mean we will have a better market. Because that would mean we would be buying among ourselves and the market could stay very down if it's only all local owners,” she said.
Under the new rules, homebuyers will benefit from an increased supply of HDB flats, and the income cap adjustment will address problems of those in the “sandwich group”.
Mrs. Lim said the measures aim to maintain the affordability of flats and give more choices to those in the “sandwich group” as they can already opt to buy DBSS or EC flats.
Market Outlook
As you are aware, the Singapore government has enacted several measures to help create a more stable, sustainable and non-speculative property market. The government’s efforts, as we believe is to create a more stable property market that benefits us in the long run. The demand for properties in Singapore will continue, given its physical size and the government’s emphasis on population growth and
other economic measures that will have a positive impact on property demand.
For us, our ongoing challenge is continue to design, develop and deliver value-for-money projects that consumers will want to buy, taking into account their changing needs and lifestyle aspirations. On the whole, we are cautiously optimistic that our company will benefit in terms of improving overall market
sentiment and which in turn will have a positive effect to sustain the demand for properties and in particular, those that we develop.
Monday, September 13, 2010
Objective of this blog
Our emphasis is on landed properties, first we started off with looking around for those run down and original condition buildings and redevelop it.
The main objective is to build affordable and aesthethically pleasing landed homes to the affluent singaporeans.
The main objective is to build affordable and aesthethically pleasing landed homes to the affluent singaporeans.
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