Friday, November 20, 2009

Action to cool down speculation

Asia is faced an asset bubble, due to speculation in real estates caused by low interest rate, due to stimulus spending by governments in many countries. Read this report.
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3 comments:

Anonymous said...

One way to curb speculation is for IRAS to tax those who sub-sell their property within 3 years of booking and before completion.

November 21, 2009 7:14 PM
Anonymous said...

Private property owmers are buying HDB flats to rent out for high returns. HDB should enforce rules that permission must be obtained before whole flat is allowed to rent out. Additionally IRAS should allow (already a rule but seldom enforce) only one property per househlod for owner/occupier property tax.

November 22, 2009 11:07 PM
Anonymous said...

BTW, these HDB 'homeowners' who rent out their flats also take advantage of system by paying the lower property tax rate of homeowners. And they don't declare rental income.

Indirectly, genuine tax payers are also subsidising them.

November 23, 2009 11:07 AM

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