2nd property

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2nd property

Postby peapot » Thu Oct 25, 2012 7:18 am

Anyone here invested in 2nd property? I would like to know what people think of the market now. If you have invested in or before please share, not just in spore perhaps in Malaysia or other country? Is it wise to invest now?

peapot
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Re: 2nd property

Postby winchester » Thu Oct 25, 2012 9:58 am

peapot wrote:Anyone here invested in 2nd property? I would like to know what people think of the market now. If you have invested in or before please share, not just in spore perhaps in Malaysia or other country? Is it wise to invest now?


for second property in singapore, depends lor if first property paid up. this has impact on loan/downpayment for 2nd property. also now go age-tenure factor for ltv if extend beyond 65 or 30 years.

whether wise or not, i think if can afford downpayment and hold even after interest rate goes up after 2015, sure. buy one.

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Re: 2nd property

Postby Funz » Thu Oct 25, 2012 10:00 am

Saw this and 1st thought is VSK2010 where are you....

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Re: 2nd property

Postby Funz » Thu Oct 25, 2012 12:07 pm

peapot wrote:Anyone here invested in 2nd property? I would like to know what people think of the market now. If you have invested in or before please share, not just in spore perhaps in Malaysia or other country? Is it wise to invest now?


If you have the excess cash now and the holding power, investing in a 2nd property may be one way to make your cash work for you. But do bear in mind you can no longer get 80% loan for your 2nd property if you are still servicing the loan for your 1st. That means your initial down payment will be 30% of which 10% needs to be cash, the rest can be from CPF. The new stamp duty regulations also mean that you need to hold the property for at least 3yrs if you do not want to pay additional stamp duties.

We bought a house in a gated development in Msia 3yrs ago. According to our agent friend, the property value has doubled and with the Iskandar development, it will go up further. We bought that property because we trusted this agent friend and he himself bought a unit in that development. We treat that like our holiday home, going in on some weekends to enjoy cheap seafood, mahjong sessions and to maintain the property. We were advised against renting as rental yield is not attractive and poses a whole host of issues. So we are just holding it until such time when the development is further along and we will most probably sell. We have not tried selling the property yet so unable to tell you if there will be any issues. That is one of our concerns, being able to sell the property off easily. Our friend assured us there should be no problems but you never know. One fine day, Msia may just implement some new measures to curb property prices as well. We bought that property with funds that we can afford to leave tied up for the long term so even if we cannot sell, we can make use of the property.

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Re: 2nd property

Postby peapot » Fri Oct 26, 2012 7:36 am

Hi Funz, how much is the property in Malaysia now? I know near the Iskandar area is popular with locals and Ang moh. I read it in straits times that the houses there are huge. Anyway too late to think so much, I have already exercised the option.
Thanks for sharing. If u have any other good lobang, let me know.

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Re: 2nd property

Postby micollh » Fri Oct 26, 2012 10:39 am

Funz, if no more loan dor 1st property (HDB), do we still get 80% loan ? when u say must hold for 3 years meaning for the 2nd property ? stamp fees is not compulsary once u buy 2nd property ?

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Re: 2nd property

Postby peapot » Fri Oct 26, 2012 11:14 am

Micollh, I busybody help Funz to answer. Stamp duty apply for 1st and 2nd property.

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Re: 2nd property

Postby dagong99 » Sat Nov 24, 2012 12:35 pm

peapot wrote:Micollh, I busybody help Funz to answer. Stamp duty apply for 1st and 2nd property.


Sale within a year of purchase - 16% stamp duty, 12% within 2nd year, 8% 3rd, 4% 4th, only after 4th year no stamp duty.

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Re: 2nd property

Postby dagong99 » Sat Nov 24, 2012 12:40 pm

peapot wrote:Micollh, I busybody help Funz to answer. Stamp duty apply for 1st and 2nd property.


How about 3rd property with 1st fully pai, 2nd on loan but purchase before the new ruling on loan ? Still need to pay stamp duty right ?

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Re: 2nd property

Postby peapot » Sun Nov 25, 2012 1:15 pm

If you bought the 2nd property before stamp duty ruling then of course not subject to stamp duty when u sell.

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