As usual, the latecomers to Iskandar, or any other red hot deals, are at the losing end.
The Monetary Authority of Singapore sounded the alarm today in Parliament via a PQ answered by MAS board member Lawrence Wong. With 336k homes in the pipeline at Iskandar, the number outnumbers Singapore's and is scary.
But is the alarm too late?
And our dear TDSR only applies to borrowing from local finance institutions. I do not believe it curbs you if you intend to borrow from the foreign country where your target property is situated in.
So how? Die.
The weekend papers are usually dominated by retail, property and auto ads. The introduction of the ABSD and TDSR killed some of that revenue as property firms pulled ads given dismal sales.
This weekend brought new lows.
I remembered taking advertising and copy-writing classes many years ago....and the first thing they taught was USP. Or the Unique Selling Point of the product or service offered.
I guess in the case of Kingsford Waterbay, its USP is its cheapness. That ad came on Saturday.
The next day came more dismal news in the form of an article in the Sunday Times.
It would seem that people are not able to fork out cash or are willing to get into debt for their second bite at the HDB cherry. These folks have apparently counted their sums and realised that sales proceeds from existing flat would be less and thus affecting their finance and reno of the new flat in waiting. So says Chris from Chris International.
I think more of such pain would come. Or is this the proverbial 'bottom'?
I leave it to your own conclusion.
