Re: One moment the property market was "stirred" up, the next....
- From: "AleXX" <macrodeal@xxxxxxxxxxxxx>
- Date: Mon, 28 Apr 2008 21:52:05 +0800
"Yaya Kimura" <venuschaser@xxxxxxxxx> wrote in message
news:afe8a0ea-396f-4666-ae15-cfe03777e7f7@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
On Apr 28, 1:26 pm, "AleXX" <macrod...@xxxxxxxxxxxxx> wrote:
One moment the govt. stirred up an artificial demand and brought the
prices
rocket high leaving a false image for those local buyers who are
genuinely
looking for a home to settle for some. After a year or so, they could no
longer hold and the bubble burst and these new poor "owners" have to
scout
around for additional funds to meet their bank's demand to top up their
loan
collateral. In the end, mainly the land owner (government) who leased out
the land for 99 years collected most of the money.
http://business.asiaone.com/Business/My%2BMoney/Property/Story/A1Stor...
No problem for developer as Govt is giving these people special deal
in tax rebate.
Many don't even have to pay any property tax if the completed units
are not sold.
What we are talking are those who bought up with loans from the banks. The
amount of loans are subject to the market value or selling price of the
properties then. But once the prices come down, the banks would ask owners
to top up or return part of the loan in cash or in lieu have their property
taken back.
.
- References:
- Prev by Date: The Future of Communications
- Next by Date: Robert Rubin must go.
- Previous by thread: Re: One moment the property market was "stirred" up, the next....
- Next by thread: Good news to all Singapore motorists
- Index(es):
Relevant Pages
|
