No resale levy for 2nd-time buyers of new executive condos

[tom]

SINGAPORE: Second-time flat buyers who buy a new Executive Condominium (EC) will no longer have to pay the resale levy.

The policy change is to align the purchase of new ECs with the Design, Build and Sell Scheme (DBSS). It will take effect for those who buy new EC units to be built at Punggol.

In the near future, building activities may be intensified. Ground investigations are being carried out at a plot of land near to the LRT track approaching Punggol MRT station. Previously levies are imposed on a seller who intends to upgrade. It comes to be in tens of thousands of dollars. 

Suddenly in the blue, for new EC. condos, levies are no longer imposed on upgraders. Is this an encouragement hinting at 4 or 5 roomers in Punggol, that it is high time, residents upgrade ?

Or is it because, applicants are linning up to come to Punggol that nobody expects this to happen ?

[Alaska]

as usual, the clowns in the circus are playing with the macro and micro economy graph. Recession is about to come, have to adjust property market here and there.

[Stallion]

Circus clowns are playing policies again.
Recession just round the corner, get ready for the tough waters ahead.

[tom]

Those so called foreign talent, now hundredth of thousands of them, can  only become permanent resident (PR) after working and staying here for a year or more.

A PR can only  buy a resale flat. They are not allowed to apply for a HDB flat unless they become a Singapore citizen. So where to get so many resale flats ??  Answer ?? allow Singaporeans to upgrade with no levy maybe can work.  So value of resale units will go up and up.

Singaporeans are more talented, they hold on to their flats and wait for prices to go up further, let the foreign talent wait and wait and finally pay a higher price.