HDB ups MOP for resale flats to 5 years

golfchowmk wrote:

Welldone Welldone.

Paisei...

S2S... Huat ar.....!!! Then we can also huat with you.

Batman wrote:

moi™ wrote:

My dream HDB flat....

Sista, how can one have HDB flat as "dream"??

when Moi kor kor become Moi Jiejie ah?

Khorkar wrote:

S2S... Huat ar.....!!! Then we can also huat with you.

Other than a roof over the head...In this reddot nation, it is also a asset class that make many become millionaires...Let's all huat ar together.

swing2sky wrote:

Khorkar wrote:

S2S... Huat ar.....!!! Then we can also huat with you.

Other than a roof over the head...In this reddot nation, it is also a asset class that make many become millionaires...Let's all huat ar together.

I can produce billionssss in 1 night.

moi™ wrote:

swing2sky wrote:

Khorkar wrote:

S2S... Huat ar.....!!! Then we can also huat with you.

Other than a roof over the head...In this reddot nation, it is also a asset class that make many become millionaires...Let's all huat ar together.

I can produce billionssss in 1 night.

Are u and me on the right track? Produce billionssss in a night. What's that?

I take every annoncement as opportunity!

jazz_samz wrote:

BG. Long time no see you mate!!!! So early surely I sense a game this morning. Hahhaah

Yes. My place is a stone away to Warren aka near the resort.
Can hear Siren when the course is close/ open.

More practical to stay in HDB.

Wow!!! even foreign property also inclusive... Gomen very very strict now.. I wonder how will they know if a person owns a foreign property. The scope is pretty big.


Foreign homes, same rules

The rule means that an overseas property must be sold within six months of buying a HDB resale flat. -- ST PHOTO: MALCOLM KOH

PEOPLE who own a home overseas will still have to comply with the tough new rules on property ownership if they want to buy a HDB resale flat.

The clarification on Wednesday came amid uncertainty over who might or might not be exempt from the rules announced on Monday. The new regulations state that if you buy a HDB resale flat you must dispose of any additional private property within six months of the HDB purchase.

That rule also applies to people who own homes offshore, according to the HDB on Wednesday. This means an overseas property must be sold within six months of buying a HDB resale flat. And an owner of a non-subsidised HDB flat who has yet to meet his minimum occupation period of (MOP) of five years will also not be allowed to buy a private property locally or abroad.


How new financing rules affect owners of homes offshore was also made clearer on Wednesday. Under the revised regulations, a buyer with a mortgage on a local property must stump up a downpayment of 30 per cent when buying an additional property. This is up from 20 per cent previously.


And at least 10 per cent of this deposit must be in cash - up from 5 per cent before - with the rest coming from his Central Provident Fund (CPF) accounts.


But the Monetary Authority of Singapore (MAS) said that a buyer with a home loan for an overseas property will not be subject to these financing rules if buying an additional property here. However, the MAS said it 'expect(s) financial institutions to take into account the borrower's outstanding loans when making their credit assessment'.

sotong12 wrote:

I take every annoncement as opportunity!

Chim....but I've to agree.

Khorkar wrote:

Wow!!! even foreign property also inclusive... Gomen very very strict now.. I wonder how will they know if a person owns a foreign property. The scope is pretty big.


Foreign homes, same rules

The rule means that an overseas property must be sold within six months of buying a HDB resale flat. -- ST PHOTO: MALCOLM KOH

PEOPLE who own a home overseas will still have to comply with the tough new rules on property ownership if they want to buy a HDB resale flat.

The clarification on Wednesday came amid uncertainty over who might or might not be exempt from the rules announced on Monday. The new regulations state that if you buy a HDB resale flat you must dispose of any additional private property within six months of the HDB purchase.

That rule also applies to people who own homes offshore, according to the HDB on Wednesday. This means an overseas property must be sold within six months of buying a HDB resale flat. And an owner of a non-subsidised HDB flat who has yet to meet his minimum occupation period of (MOP) of five years will also not be allowed to buy a private property locally or abroad.


How new financing rules affect owners of homes offshore was also made clearer on Wednesday. Under the revised regulations, a buyer with a mortgage on a local property must stump up a downpayment of 30 per cent when buying an additional property. This is up from 20 per cent previously.


And at least 10 per cent of this deposit must be in cash - up from 5 per cent before - with the rest coming from his Central Provident Fund (CPF) accounts.


But the Monetary Authority of Singapore (MAS) said that a buyer with a home loan for an overseas property will not be subject to these financing rules if buying an additional property here. However, the MAS said it 'expect(s) financial institutions to take into account the borrower's outstanding loans when making their credit assessment'.

Easy to say, difficult to implement.

moi™ wrote:

swing2sky wrote:

Khorkar wrote:

S2S... Huat ar.....!!! Then we can also huat with you.

Other than a roof over the head...In this reddot nation, it is also a asset class that make many become millionaires...Let's all huat ar together.

I can produce billionssss in 1 night.

Produce zillion also useless unless proven otherwise...