On the contrary,Developers faced unexpectedly high costs during the Covid-19 pandemic – and are perhaps now headed into yet another volatile situation, as the war in Europe threatens to raise energy costs.
Under these circumstances it's unlikely that developers can charge less, even if HDB upgraders stop biting.While new launch prices are the main issue, note that the lower number of transactions also stems from fewer launches. They can apply for ABSD remission later . However, footing the high upfront cost of the ABSD may not be feasible.
Note that the interest rate used to calculate monthly repayments, for TDSR purposes, is set at 3.5 per cent. The key question for upgraders is this: after selling your flat, and paying off the existing home loan and CPF refund, will you have this amount left over in cash?"A lot of HDB upgraders expect to cover not only the down payment, but also other costs like renovation and furnishing, through the net proceeds. But with the high quantum of a new launch, they end up needing a much bigger cash outlay than they thought.
Priced out? Rubbish. Regardless how much more expensive the government is selling their new flats, citizens will still grab them.
Singapore Latest News, Singapore Headlines
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