Hdb new flat now expensive/cheap/ok

[JackOHJack]

we as an individual have to decide if we want to use the CPFOA as retirement fund or housing fund. If want to use it as retirement, then use cash to pay mortgage loh.. just like most countries in the world...

 

Problem with most of us singaporean is that we are too used to the govt telling us wat to do & following their policy that we fail to see other options available... we are quite financial illiterate.

 

The fact is that HDB has provided us housing options that are cheaper than the private housing and new hdb flats are cheaper than the resale market. So if we dont earn enough to fork out $1000/mth per couple (2 working people for most couples), then frankly u need to work harder.

 

check out salary.sg to see where u stand in terms of annual income with the rest of the tax payers.. a 30K annual salary puts us at the lowest 12%. Both couple earning at this level will be able to fork out the $500/mthly each.

 

from salary.sg: lowest 12% is only for TAXABLE person. 30k per annum (2.3k/ mth + 13th mth bonus, works out to be bottom 47.5.

 

i.e. yes, ONLY 12% of taxpayers are "unable" to fork out 1k/mth from cpf. but maybe 40% of living persons, including non taxpayers (read poor), CANNOT fork out that 1k/mth from cpf. i dunno if u get wat i mean..

 

I disagree. No doubt that a flat can be a fastrack to building asset wealth (based on current trends), BUT you should be buying a flat that has the MOST POTENTIAL VALUE instead of the most expensive you can afford.

 

 

I live in Sembawang and I actually like that it is less crowded and not a 'hot' town. Ultimately, everyone needs a home and not an investment property. If every flat/house you look for has value appreciation as the main concern, then whence does the 'home sweet home" come from?

 

The final question is, do you want an affordable home? Or do you want a high potential investment property?

If you want the former, current HDB direction is bad for you. If you want the latter, then you have justified MBT's policies.

 

eh.. my bad for assuming the 2 correlates. if you guys will take some time to read my earlier posts.. my point being buy one that has obvious potential that one do not mind paying for even if it's value halves. yes, most expensive does not mean will appreciate. but i was assuming there must be a reason (other than speculation) that the price is high. im guessing location/ height/ view/ near amenities/ good schools tc.

 

i want an affordable home that will appreciate/ breakeven instead of depreciate. just in case i need to liquidate it (for emergency/ upgrade), i know i wun be making a loss. yes you only need a home. but having a home sweet home that is positive somehow seems better.

 

And rack up more in interest?

You should be buying a flat only as large as you need.

 

"that you can AFFORD". yes we should consider interest too when buying..

 

buy a flat only as large as you need? means 4 room flat in woodlands is same as 4 room flat in river valley, for instance? just a tot..

[seller13]

sg is a very competitive environment mah. no choice

 

floor area small but still so exp.

and the corridor seem to be getting more and more cramp and blk are nearer to each other too

[DeusExMachina]

 

"that you can AFFORD". yes we should consider interest too when buying..

 

buy a flat only as large as you need? means 4 room flat in woodlands is same as 4 room flat in river valley, for instance? just a tot..

 

 

Depending on your area. Most ppl first decide on which area they want to live in before they think of the size of their flats.

[cougar]

Is hdb's policy so money proof that citizens cant do anything to pressure it down, but have to wait economic conditions in their favour. So its not consider public housin anymore, hdb should change name and dont mislead people.

[Pplater]

web hang, double post.

[Pplater]

Depending on your area. Most ppl first decide on which area they want to live in before they think of the size of their flats.

 

That is only true if you are buying resale. Then u choose location first.

 

If you're buying BTO, there's not much location to choose. Its always Seng Kang/Punggol, Jurong, Woodlands, Yishun, and the occasional Bukit Panjang and Dawson thrown in. Given the overwheming 6 times, 10 times and 20 times over-subscription, many people will just whack every month. Take whatever is available and don't be choosy. I took 5 tries of anyhow whack, got lucky with Boon Lay and accepted it happily. My friends not so lucky. Whack 10 over tries over 2 years still bo tio leh. Then means resale liao loh.

[JackOHJack]

That is only true if you are buying resale. Then u choose location first.

 

If you're buying BTO, there's not much location to choose. Its always Seng Kang/Punggol, Jurong, Woodlands, Yishun, and the occasional Bukit Panjang and Dawson thrown in. Given the overwheming 6 times, 10 times and 20 times over-subscription, many people will just whack every month. Take whatever is available and don't be choosy. I took 5 tries of anyhow whack, got lucky with Boon Lay and accepted it happily. My friends not so lucky. Whack 10 over tries over 2 years still bo tio leh. Then means resale liao loh.

 

yup, i have many friends who tried numerous times.. the oversubscriptions are an indication of how desperate ppl are.. 7x oversubscription is like a norm..

[kickarse]

They always say Singapore shortage of land bla bla bla.. But have u guys seen flats in Punggol? One floor sometimes only have 4-5 units.. Why they never build houses like the old estate where every floor sometimes can go up to 10-12 units.

[JackOHJack]

eh, coz common corridor is not favoured over "point block" design - privacy issues (read ah long anyhow splash paint).

 

i tot they shd increase plot ratio of hdb plots, and have (more) higher blocks - y flats in punggol/ sengkang still 13 - 16 storeys only? re-walking mistakes of the past? den 20 years ltr enbloc and THEN build more concentrated flats. seems like double work and waste of efforts over the long run..

[RageMyDream]

i tot they shd increase plot ratio of hdb plots, and have (more) higher blocks - y flats in punggol/ sengkang still 13 - 16 storeys only? re-walking mistakes of the past? den 20 years ltr enbloc and THEN build more concentrated flats. seems like double work and waste of efforts over the long run..

 

Maybe has planes flying around, therefore cannot build too high.

[Pplater]

HDB prices is pegged to resale prices. So those can't wait, want to choose location, not lucky ballot too many times, all will buy resale. If don't 6x, 10x or 20x oversubsribe for BTO, then less demand for BTO will spill over to resale. Less people for resale, resale price drop, then HDB cannot sell you at increasingly higher prices. See? Its simple.

[jockey]

now eyeing for condo. any gd bargain

[Frostb3ar]

HDB prices is pegged to resale prices. So those can't wait, want to choose location, not lucky ballot too many times, all will buy resale. If don't 6x, 10x or 20x oversubsribe for BTO, then less demand for BTO will spill over to resale. Less people for resale, resale price drop, then HDB cannot sell you at increasingly higher prices. See? Its simple.

 

I understand your backwards link to lower HDB pricing, but how do you propose to reduce the oversubscription rates for BTO? If there is a x20 oversubscription rate, are you proposing to x20 increase in the supply of BTOs?

[kano]

nowadays very ex

[JackOHJack]

they following US style of politics.

 

1) 1st guy come up with some stupid policies, INSIST on not building more flats, let price go up until song song til jurong.

 

2) everyone dul@n, sack him.

 

3) 2nd guy come in and say "oh dear, so sad, im so sorry for all of you... BUT I CANNOT sell cheap, else those who bought from 1st guy die, so we maintain price. if u not happy i can let it increase wan."

 

4) llst, we pay and pay, let's move on. OF COURSE we cannot blame the 2nd guy right? he's the one who offer us the solution, u know?

 

5) overall, the strategy is "Hold until everyone goes berserk, then start to sell at high price."

 

make sense if running Singapore Inc, but not so when running a country..

 

 

 

overall, i see the undergahmen becoming more and more reactive, lesser ability to foresee/ pre-empt.

u mean 5 years ago announce pay increment nv think of how to increase accordingly? wait until 5 years ltr den pay review?! u mean 1 year ago it was impossible to ramp up BTO supply? now suddenly can orledi? 1 year ago cannot Build Before Order? now suddenly can orledi?!

[hachi]

The latest BTO, 3 and 4 rooms prices increased, even places like woodlands....

Like that next time >4 rooms are for elites......

[kzone]

so u guys things the prices wont drop? Then no choice but to buy now before the price go up even higher?

[cougar]

I believe now sg has the highest property prices among asia cities, surpassing hong kong this instant. But that still doesnt mean hdb prices must follow trend. Because the eligible buyers are only singaporeans. Something is artificially inflating the true prices. Our govt is really useless to us now.

[padfoot]

Go Khaw Boon Wan go go go!

[cougar]

Is DBSS the same as EC? Why price so high? What the fleak $650k to $880k for 99yr leash!

 

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1135575/1/.html

[pyro13]

Do not listen to rumours saying that prices will drop. Even economists cannot predict the property bubble.

 

Wat i am hearing is the property bubble will burst in 2013. Dun be an idiot to listen to all this. Buy it now before it goes even higher.

[Yatz86]

Is DBSS the same as EC? Why price so high? What the fleak $650k to $880k for 99yr leash!

 

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1135575/1/.html

 

DBSS is not the same as EC, But yea its freaking ex.

 

Seems like they forgot what is the fundemental reason why SG buy a house. And frankly I had enough on the talk of culling of cats, increase in bto launches and increase in minimum wage ceiling...cause it doesnt help to decrease the price of housing flats..

 

Do not listen to rumours saying that prices will drop. Even economists cannot predict the property bubble.

 

Wat i am hearing is the property bubble will burst in 2013. Dun be an idiot to listen to all this. Buy it now before it goes even higher.

 

Economics does not apply to SG housing.

 

 

On paper, increase in supply will lead to a decrease in price given the constant demand.

 

But in SG case, increase in supply also increase in price....

 

This hearsay of property bubble will burst is plain BS. Forces ppl to buy now cause they psychologically convince the buyers to buy if not prices will increase. But in plain fact, the price is gonna hold out and continue to rise in due time...seen this one played out before

[cougar]

The bankers are the ones who anyhow GIVE LOANS, sub-prime repeat.

 

Why STI going down this week, and yet property prices going up??? Sg really not fundamental, play until upside down, inside out, basically rojak.

Edited June 18, 2011 by cougar

[Pplater]

I understand your backwards link to lower HDB pricing, but how do you propose to reduce the oversubscription rates for BTO? If there is a x20 oversubscription rate, are you proposing to x20 increase in the supply of BTOs?

 

U tell me what HDB's original reason for existence was? You go ask Lee Kuan Yew, when they started building HDB flats, what was it for? The British pulled out. We had a housing problem. That said we couldn't do it, but the HDB then built more flats in a few years than the British built for us in years or decades.

 

U tell me, back then was it 100x or 200x undersupply? And they solved it in those times? And now u telling me, 20X cannot solve? Has this gahmen gone soft along with the current generation? Or simply cannot solve?

[JackOHJack]

a bit different. back den no one wanted to move out of kampong. so they build liaoz no one want to move in. 万事俱备，只欠东风。and then there was the bukit ho swee fire.. pretty hard alright, the undergahmen..

 

there was simply no foresight from MBT (maboh ald). KBW so far has managed to ease the anxiety, but is playing the cards swee swee so price will INCREASE steadily, instead of exponentially.. llst, lppl.