馃攳
Singapore Property Cooling Measure 2021 | Home Quarters - YouTube
Channel: Home Quarters
[1]
Singapore Cooling Measure 2021 is here.
[3]
What it is, what it entails
[5]
and how it will affect you?
[6]
Stay tuned to find out.
[9]
Hi everyone, KC here from Home Quarters
[10]
and today's episode we're gonna check out three points
[13]
for Singapore Cooling Measure 2021.
[14]
They have just been implemented,
[16]
just last night, near to the 11 pm mark,
[18]
and is effective today, 16th of December, 2021.
[22]
Three big point in total,
[24]
one effect the HDB buyer out there.
[26]
If, let's say, you are getting HDB loan
[28]
in the loan quantum, the loan to valuation,
[31]
previously from 90% have dropped down to 85%.
[34]
So for example, if you're taking up a unit
[36]
that costs about $500,000,
[38]
previously for 90% loan quantum,
[40]
you only need to pay a cash or CPF of $50,000.
[45]
In the new regulation, new guideline,
[47]
you have to fork out $75,000.
[50]
Of course, that is for taking HDB loan.
[52]
If you are taking bank loan,
[53]
75% is still there, 5% cash is still there,
[57]
or everything stays the same.
[58]
It's just the HDB loan that will be affected.
[61]
So, what we means for HDB owner
[63]
is that probably they have to come up a little bit more,
[66]
even let's say, they are operating at the very edge.
[69]
But from a lot of time
[71]
that we are serving a lot of HDB buyer,
[73]
they are not operating at their front.
[74]
In fact, they have more than enough CPF to cover that 15%.
[80]
Second point, TDSR, Total Debt Servicing Ratio
[82]
that affect private property purchaser,
[85]
will be dropped from the previous 60% down to 55% today.
[88]
So, what will it impact?
[90]
Alright, so for example, you are taking a $1 million loan,
[93]
30 years at a normal employee rate.
[96]
For TDSR to be 60%,
[97]
you only need to earn about 700,500 dollars.
[101]
If, let's say, is the reduction of a TDSR to become 55%,
[105]
you need to increase employment,
[107]
salary to about a 1,200 dollars.
[110]
The difference for every million dollars
[111]
that you want to borrow,
[112]
is about 700 increment in salary range.
[116]
So, does that make a difference to you?
[118]
It does, if let's say you're operating
[120]
really near to the maximum 75%
[123]
of loan at a very teen age.
[127]
So, in Home Quarters,
[129]
we actually advocate that you don't operate
[131]
so near to that point,
[132]
and actually 55% is all right for most people.
[136]
All right, well, at third point
[137]
we are talking about Additional Buyers' Stamp Duty,
[139]
that way implicating you,
[140]
if you're buying your first property,
[142]
second property, third property.
[144]
All right, for Singaporean and also permanent residents,
[146]
there is no change in additional buyers' stamp duty policy.
[150]
Mainly for Singaporean there'll be zero
[152]
additional buyers' stamp duty,
[153]
when you're purchasing your first property.
[155]
For PR, also first property,
[157]
there is only a 5% change, remain unchanged
[160]
since the last time row,
[161]
But for foreigner, you are not so lucky,
[164]
you are now being hit from a 20% ABSD rate,
[167]
to become a 30% ABSD rate.
[169]
For entity, meaning the company, corporation
[172]
that want to invest in property area,
[174]
previously it's 25%, today it is 35%.
[177]
However, all my investor out there,
[179]
if you are buying your second or third property
[181]
as a Singaporean, previously
[183]
is 12% additional buyer's stamp duty for second property,
[186]
and 15% ABSD for third property
[188]
have increased to 17% for second property
[192]
and to a whopping 25% for third property.
[195]
So, it would definitely affect
[197]
all the seasoned investor out there.
[198]
So when they are selling their property,
[200]
it could be that they could not buy
[203]
back a residential property
[204]
without the additional buyers' stamp duty.
[207]
For Singapore permanent residents,
[208]
that are investor all day,
[209]
your second property is 15% previously
[212]
for additional buyers' stamp duty.
[213]
And third property is also 15%
[216]
additional buyers' stamp duty
[217]
for your third property.
[218]
Now a increase, your second property,
[220]
now you have to fork out (20% is Wrong)25% additional buyers' stamp duty
[223]
and for the third property and beyond
[226]
is a whopping 30% additional buyers' stamp duty.
[229]
So watch out there,
[230]
our Singapore permanent residence investor.
[232]
All right, in summary, who do you think it would affect
[235]
and who do I think that it will not effect
[236]
for all our upgraders and first time buyers out there,
[239]
it will not affect you.
[240]
You will not be affected
[241]
by the additional buyers' stamp duty.
[242]
The only thing they will affecting you is your TSI,
[245]
you're buying a private property,
[246]
or you're buying HDB loan, HDB flat, that will decrease
[251]
from 90% loan to 85% loan to valuation quantum.
[255]
So, you will be affected.
[258]
If, let's say, you're operating really near
[260]
to the age of vulnerability.
[261]
And here in Home Quarters,
[262]
we do not actually advise you to do so.
[266]
There're also actually
[267]
even more prudent investing right now,
[269]
buying a property right now for first time investor,
[272]
first time upgrader, first time home buyer.
[275]
So who do you think you'll impact?
[276]
You'll definitely impact investor out there.
[278]
You'll definitely impact our foreign friends out there
[282]
as well because additional buyers' stamp duty,
[284]
the minimum increase is 5% upwards to about 15
[288]
to even beyond increment out there.
[290]
So you have to think twice,
[292]
you are buying an investment
[293]
and holding it for a short term.
[295]
And probably you should think
[296]
about holding it for a longer term
[298]
for the property profit to realize
[300]
before selling it in there
[302]
to cover definitely for the additional buyers' stamp duty.
[305]
So speak to us, if you are keen to find out
[307]
where are all the good properties, high yielding property
[310]
and high capital gain property,
[312]
are here in Singapore.
[314]
All right, So you're keen to know more about
[316]
how this will affect you,
[317]
for investor, home buyers, upgrader,
[319]
asset progression, et cetera.
[321]
Do click the link down below to contact us right now.
[323]
My name is KC from Home Quarters
[325]
and as always call Home Quarters
[327]
and start packing.
Most Recent Videos:
You can go back to the homepage right here: Homepage