We have regulations in Singapore governing the property industry. But we don’t have any guidelines in Singapore monitoring the property news. That’s why we see misleading headlines, biased statements and hard-sell advertorials flying everywhere.
Last week, there is another piece of crap property news seen all over the place. Let’s cut the crap here and get to the truth in this video.
I will share with you five things in the podcast:
1) Who started all these nygoodhealth.com crap?
2) Why we crave for country rankings?
3) How objective is the report?
4) How they built a virtual office market?
5) What harm can crap property news do to us?
You can now watch the podcast below. If you want to read the script, turn on the “cc” button – the leftmost button at the bottom right hand corner.
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Hi thanks 1x again for enlightenment.
Consider who owns the media. And the political angle ftom the hype up…
Now is it time to revisit the govt penalties on unsold residential units . Why so quite on this front when not too long ago all eyes were on who will be the first to blink?
For residential units, right now there are Additional Buyer Stamp Duties on unsold units five years after new projects obtained planning approval. And there are extension charges on unsold units two years after obtaining TOP.
But developers can still get around it by selling unsold units in bulk to their subsidiaries or associated companies. Projects can also change hands among developers and bide time until the market recovers.
Maybe we should consider following Hong Kong’s example to implement vacancy tax on empty new flats. and tax TOP units that are left vacant at 200 percent of their estimated annual rental value.
Many enblocs have failed lately and one recently slashed prices by 22%.
Given the chance to enbloc is luck because the developer is paying owners to get out of their rotten (some more than 40 years) units. The owners get paid more than if they were to sell their units on the market.
Also, owners pay much higher maintenance fees as their units aged.
Is enbloc more helpful to get owners out of the rot or a chance to make $$$ ?
En bloc is a Singapore thing. In western countries, people don’t consider 30 or 40-year-old properties as old. They conserve and refurbish old buildings and houses. It may be more expensive to do so. But more for environmental and sentimental reasons.
I don’t think many en bloc Singapore projects are over 40 years. Many projects are less than 30 or under 20 years. Unlike the en bloc waves in 1990s and 2007, owners were going in for a tidy sum. But in the current en bloc fever, owners are right-sizing for retirement. It is a fact that many Singaporeans have their money being tied up in properties. They need to cash-out in time when the market is still doing well.
Thank you for sharing.
Maybe the new anti-fake news laws should include such crap news reports. ha…
You are right. But it won’t happen as soon as we have so many stakeholders or parties with vested interests.