Reading the signs : Chinese zodiac signs

With the 15 days of the Lunar New Year still underway and Valentine’s Day just over, PropertyGuru has teamed up with fengshui master Jet Lee, founder of geomancy consultancy Yi Culture, to give readers of all Chinese zodiac signs a glimpse into their fortune for the year of the monkey, especially when it comes to finances and romance.

Rat

The arrival of the San Tai Achievement Star and Jiang Xing General Star sets the stage for the Rat to excel in his career and achieve financial progress. Academic pursuits will see considerable success, while romance has a good chance of blossoming for you. Colours such as white, gold, silver, blue and black could be incorporated into the home and office for added prosperity.

Ox

People will find the Ox especially glamorous and attractive this year, thanks to the Tian Xi Happiness Star. This is also a good time to start a relationship or get married. Both wealth and career luck are on the up for you: you will gain recognition in the workplace, but you must remember to be prudent in spending. If you are considering buying or investing in property, May, September and December are auspicious months to do so.

Tiger

The Tiger’s aggressive nature will be unleashed with the Yi Ma Voyager Star. Your financial luck is volatile, so be sure to minimise speculative investment this year. Caution is advised as you will clash directly with the Tai Sui Grand Duke; be mindful of your words, so as to avoid offending others. Your love life and career are in good shape this year, and your lucky colours are green, blue and black.

Rabbit

Blessed with the Zi Wei Emperor Star and Long De Prosperity Star this year, the Rabbit will prosper in career, wealth and romance. However, attraction from the opposite sex may necessitate self-discipline. Though this year will be filled with joyous occasions, it is important to remain humble and not get carried away with your success. You will be most auspicious in the months of March, July, October and November.

Dragon

With no auspicious stars this year, the Dragon should keep a low profile and stay clear of trouble. Although the Hua Gai Lonely Star implies solitude for you, it also represents great artistic talent and enhances academic pursuits. You will experience limited luck in romance and wealth, so be cautious in your relationships and frugal in your spending. Still, it helps to stay positive and remember your auspicious months: April, August, September and December.

Snake

The Snake will enjoy blessings from an auspicious trio: the Tian De Star of Benevolence, Lu Xun Wealth Star and Fu Xing Fortune Star. Still, do watch your temper, as the Juan She Dispute Star could affect you. Your wealth and career will do well, but exercise thoughtfulness in your relationships. Appreciate those around you and remember that there is strength in unity. Your lucky colours are green, red and purple.

Horse

The Horse’s overall luck this year is precarious at best, with uncertainty on ahead. Avoid gambling, speculation and lavish spending. Refrain from taking risks when it comes to investment, and focus on self-improvement, as opposed to romantic pursuits. Watch out for your lucky months: February, June, July and October, and incorporate colours such as green, red and purple into your home and office for good fortune.

Goat

This is a good year for single Goats, as the Hong Luan Romance Star shines on you. Your charisma and charm will attract lots of attention from the opposite sex. However, beware of unwanted romantic entanglements, and be sensitive and sensible when dealing with others. Your wealth luck is relatively stable this year, and your lucky months are March, June, July and November. Auspicious colours include brown, grey, yellow, red and purple.

Monkey

This is your year, but due to conflict with the Tai Sui Grand Duke, things may not go as smoothly. It is best to maintain a low profile and remain calm in times of difficulty. Your love life may see positive developments, but avoid overspending, as well as jumping into major purchases or investments. You will be most auspicious in April, May, August and December, and your lucky colours include brown, grey, white, gold and silver.

Rooster

The Gui Ren Benefactor Star and Tai Yang Success Star signify great success and victory for you this year, making it a good time to advance your career or business. Exercise self-discipline to keep the Xian Chi Extramarital Star at bay, amidst a sea of lust and temptation that gives rise to illusory, intangible amorous desires. You will be luckiest in April, May, September and January.

Dog

Like the Horse and Dragon, you have no auspicious stars to guide you this year. Avoid weddings and funerals, as such events can adversely affect you. When it comes to romance and relationships, refrain from verbally provoking others. Do not make hasty or large purchases or investments, since your wealth luck is in short supply this year. Your most auspicious months are February, March, June and October, while your lucky colours are brown, grey, yellow, red and purple.

Pig

After years of hardship, things will finally start looking up for the Pig this year. Wealth luck is enhanced by the Gui Ren Benefactor Star, and hard work will result in increased finances. Be generous towards others, but also save for a rainy day. Romance luck looks promising, but do not take anyone for granted. Your auspicious colours are white, gold, silver, blue and black, and you will be luckiest in February, March, July and November.

Developers call for cooling measures review amid hefty $100m charges

Real Estate Developers’ Association of Singapore (Redas) President Augustine Tan has urged the government to review the property cooling measures as developers face potential charges of $100 million for unsold private residential units, reported TODAYonline.

“The real estate market is reeling from the compounding effects of an oversupply situation, rising vacancy rates, weak demand and increasing interest rates,” said Tan at the association’s Spring Festival Lunch.

“There is therefore an urgent need for action to bring stability and ensure a soft landing to prevent further damage to the fragile economy,” he added, citing turmoil in financial markets, Singapore’s own restructuring journey and weak global growth as risks to the economy.

As at end-2015, there is a supply of more than 60,000 units in the pipeline and a record 25,000 vacant units, noted Tan, who also serves as Far East Organization’s Executive Director for Property Sales.

Aside from the mounting supply, developers also face pressures from measures like the Qualifying Certificate (QC) and Additional Buyer’s Stamp Duty (ABSD).

First introduced in 2011 and revised in 2013, the ABSD is a tax imposed on both developers and individual property buyers.

The amount paid by individuals depends on the number of properties they own and residency status, while developers have to pay 10 to 15 percent of the land cost unless they complete and sell all the units within five years from the date of land acquisition.

Developers with foreign holdings will also have to meet the QC rules, in which they are required to complete the project in five years of acquiring the land and sell all units within the next two years. Those who need more time to meet the requirements can pay extension charges that are pro-rated according to the proportion of unsold units. Land sold on Sentosa Cove and through the Government Land Sales (GLS) Programme do not need QC.

In 2016, Tan estimates that around 700 unsold residential units across 13 developments will be affected by the QC, with charges amounting to almost $100 million.

Moreover, the ABSD remission clawback for projects with unsold units will kick in by end-2016, putting further pressure on prices. He revealed that around 6,000 unsold units in 33 developments will be affected by the ABSD remission clawback in 2017 and 2018.

As a result, several developers have been lobbying for the removal of the ABSD, arguing that the Total Debt Servicing Ratio (TDSR) framework will help ensure that buyers stay prudent with their acquisitions even without the ABSD.

“Since 2009, the successive introduction of the government’s property measures has cooled the market, bringing down transactions and prices. With safeguards in place such as the continuation of the prudent TDSR measures together with the current economic situation, property prices will be kept in check,” said Tan.

“It is therefore timely to consider a calibration of the cooling measures.”