On the 15th Dec night, our @mndsingapore announced new cooling measures ๐ฃ Several were surprised, but most had expected it after the first quarter, when prices rose by 3.3% ๐ These measures were not implemented at the time, and my customers asked, Why now? Late at night๐? If they announce this on the day, will people rush to get loans and complete their purchases quickly? Sadly, I have no answers ๐ However, many worry that private property sales will fall off from here?๐ข And how quickly the market will react to new cooling measures. The price is therefore expected to stall for a while, then grow modestly in 2022 as ABSD increases mainly for foreigners and multiple property owners. So long as the demand for own stays remains strong, the impact of this change will be minimal, even when the new GLS is released in 2022 ๐ Additionally, most developers ๐ have sold most of their units and aren't under any pressure to lower prices, and the market supply is low. TDSRโs reduction from 60% to 55% will not drastically disrupt first-time home buyers' plans to buy a house since they are buying for their own use ๐ก However, some think that the TDSR will affect the demand from upgraders, who will likely take out larger loans๐ฒ Despite the 5% difference in loan amount, the LTV remains at 75% and the down payment remains the same. Generally, homebuyers are more concerned with whether they can afford the required 25% down payment. Moreover, the cost difference is mainly determined by the price difference between the two residential units, based on how much the current selling price of the home differs from the new one ๐ As they move to the next housing, will the price gap narrow? Or will it widen as a result of these measures? Hence, if price gaps widen due to these measures, upgrading from one house to another will be harder regardless of a reduction in TDSR. We may observe if the market prices are flat while moderate growth continues in this case. However, those who have already bought feel more at ease, while those who haven't yet bought are disappointed, based on the comments I've received ๐ #MND #coolingmeasures #bedokhomes #singaporehomes (at Singapore / Singapura / ๆฐๅ ๅก / เฎเฎฟเฎเฏเฎเฎชเฏเฎชเฏเฎฐเฏ) https://www.instagram.com/p/CXoFG_bpja9/?utm_medium=tumblr
