Quote:
Originally Posted by Unregistered
This massive property oversupply problem is very, very serious. If we don't allow more FTs to come in, it will collapse the rental market and property prices will collapse. Our economy and livelihood of many will be in big trouble.
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Here are ways we can avoid this impending property disaster
1. Stop all land sales for the next 5 years. This will allow the property glut to be absorbed by the market.
2. Remove ABSD for foreigners buying thier first property here. This allow unsold properties to be absorbed.
3. Allow more FTs to work here. Empty condos and
HDB flats can then be filled up by tenants.
4. Increase ABSD for 2nd, 3rd, 4th, 5th property to 20% for all Singaporeans, PR and foreigners to discourage property investment to solve the problem of empty condos with no tenants.
5. Increase the downpayment from 40% to 70% for 2nd, 3rd, 4th, 5th property.