PR buying a cluster house

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snaw
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PR buying a cluster house

Post by snaw » Thu, 30 Jun 2011 7:38 pm

Guys,

We've recently become PR (April), and interested in buying a cluster house. I know there's restrictions on buying and we'd need to apply.

Can anyone enlighten us as to our chances of approval and things we need to consider (Renting it out if we leave for example?)

Thanks.

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Saint
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Re: PR buying a cluster house

Post by Saint » Thu, 30 Jun 2011 11:48 pm

snaw wrote:Guys,

We've recently become PR (April), and interested in buying a cluster house. I know there's restrictions on buying and we'd need to apply.

Can anyone enlighten us as to our chances of approval and things we need to consider (Renting it out if we leave for example?)
Thanks.
:roll: Did you actually check what PR stands for? Partial Resident, Prehaps Resident, Passing Resident, Profit Resident?

It's bad enough for us real PRs here without people openingly posting on the ICA's ( :wave: ) favourite forum that they are already looking at abusing being granted PR!

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Post by snaw » Fri, 01 Jul 2011 12:45 pm

I am a real PR, I applied got it and have no plans to leave. However if I make an investment to the tune to a couple of million+ then I want to consider all the possibilities, one of which may be there's an economic downturn, I lose my job and eventually have to leave to get employed (I get no welfare here ...). It happened to a lot of people not so long ago in Singapore, it can happen again.

You may say it's abuse, I call it not being stupid.

Anyway, anyone got some helpful advice on this. Would be greatly appreciated.

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Post by Strong Eagle » Fri, 01 Jul 2011 4:53 pm

You could start here.

http://www.sla.gov.sg/htm/ser/ser0307.htm#d

As I understand it, informally of course, a PR would be permitted to buy landed properties if there is a clear demonstration of long term commitment to stay.

For example, I have started a business and run it for almost 7 years in Singapore. Before the current foreign talent hysteria, I think I would have qualified to buy a landed property because I have a stable business that suggests long term residency. Don't know if this has changed since the populist uprisings against foreign talent.

If you are working for a company that could transfer you back out of Singapore, I'd guess your chances for approval would be much less. For example, many MNC's fast track people for 2 to 5 years in Singapore to get that 'Asian' experience before moving them elsewhere. OTOH, were you to be a permanent fixture with your company, your chances might improve. I'd guess the managing director of Stan Chart, who moved headquarters here, is a shoe in to buy landed property.

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Post by snaw » Sat, 02 Jul 2011 3:23 pm

Strong Eagle wrote:You could start here.

http://www.sla.gov.sg/htm/ser/ser0307.htm#d

As I understand it, informally of course, a PR would be permitted to buy landed properties if there is a clear demonstration of long term commitment to stay.

For example, I have started a business and run it for almost 7 years in Singapore. Before the current foreign talent hysteria, I think I would have qualified to buy a landed property because I have a stable business that suggests long term residency. Don't know if this has changed since the populist uprisings against foreign talent.

If you are working for a company that could transfer you back out of Singapore, I'd guess your chances for approval would be much less. For example, many MNC's fast track people for 2 to 5 years in Singapore to get that 'Asian' experience before moving them elsewhere. OTOH, were you to be a permanent fixture with your company, your chances might improve. I'd guess the managing director of Stan Chart, who moved headquarters here, is a shoe in to buy landed property.
Thx SE, kind of the same as what I thought from speaking to people. I think we would get approval, only one way (And $600) of finding out.

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Post by srman » Tue, 05 Jul 2011 12:17 pm

I am a PR and recently obtained approval from SLA. Document is pretty straightforward. Criteria is not stated (surprise surprise) but inlcudes tenor of PR, industry of employment, tertiary education etc. You are not permitted to rent it, ever, but can apply for a deviation if you are posted out of the country. Happy to discuss more if required.

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Request you to be a part of panel

Post by MARIARONALD1 » Wed, 20 Jul 2011 11:54 am

Hi All,

My name is Maria and I am Producer in the Current Affairs Dept. of Channel NewsAsia. I am working on a show called Talking Point which airs every Sunday at 10.30 pm. It is a panel discussion show of hot button issues in Singapore.

This week, we are discussing HDBs and Housing in Singapore. As you guys have pointed out, there has been a lot of Foreign Talent bashing in Singapore recently (?), and PRs are being cited as the cause of rising property prices.

Would any of you be interested in being a part of the TV audience on the show to share your point of view? Don't you think it's important that PRs speak up and share their side of the story?

It is a "live" studio discussion programme that will be filmed this Friday (22nd July) from 6.30 pm to 8.30 pm. Please take a look at one of the past episodes if you're interested! http://www.channelnewsasia.com/tp/archive.htm

Please drop me an email (mariaronald@gmail.com) if you can be a part of the show and we can discuss the issues in detail. Thanks!

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Post by sundaymorningstaple » Wed, 20 Jul 2011 2:19 pm

Hey guys, this is a good opportunity to air your views. I was actually on the panel of one of the other programmes a year or so ago with the Flying Dutchman (BlogTV) in a similar discussion on PR's here. I was contacted via this board as well.

I'd volunteer for this one but I bought my HDB resale during the financial meltdown of 97-99 so I can't be accused of driving up prices as I bought at fire-sale rates (valuation only). Also, I've been here an awful long time already and I think they are more looking for "new" PR's and not "real" PR's like myself and a few others here who have logged a decade or more already.

sms
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by MARIARONALD1 » Wed, 20 Jul 2011 2:37 pm

Thank you!

I realise Friday night is a bit inconvenient but it's only for 2 hrs and it would be great to hear from you!

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Post by sundaymorningstaple » Wed, 20 Jul 2011 4:56 pm

Maria, I think you misread my post. I wasn't volunteering this time, but trying to get some of our regulars to contact you. My face has been on local TV far to many times since 1988 (well in excess of 100 times). :o You need someone who is/has contemplated or bought a resale flat at an inflated price. Or, because they have to have a place to live, are having to pay inflated rentals to greedy landlords who hold out for the highest bidder.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by MARIARONALD1 » Wed, 20 Jul 2011 5:03 pm

Hey! My bad, I meant Thank you for your call out to the other members.

And the apology for the bad timing was for those other members =)

The Friday Night timing has really severely limited the number of people who would like to be a part of the debate.

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sundaymorningstaple
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Post by sundaymorningstaple » Wed, 20 Jul 2011 5:26 pm

Is it THIS Friday night, e.g., the 22nd? or the 29th?
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by MARIARONALD1 » Wed, 20 Jul 2011 5:28 pm

Yup, THIS Friday night - 22nd July. The show will be in response to the Q2 Resale Price Index that will be released on Friday.

That's the thing with the NEWS, the deadline is always yesterday!

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