Hdb new flat now expensive/cheap/ok

[paperger85]

Don't you guys see the link?

 

Bring in more FT = Require more places for them to stay. Of course they will hike up the prices of the flats lah. FTs are willing to pay mah!

[Dafanshu]

expensive also have to buy.... we can live without bike or car but cannot live without a shelter

[Sharkz]

the NEws JUST ANNOUNCED saying HDB is been highly demand even on this resale exercise? joke, i can see or assume they are using the media to push higher the price. talk 1 do 1. very tire and stressful living in singapore nowadays.as singaporeen sorry to say, all forgetful, and temp deaf - should get wat i mean la, if there is a place where the law dont come in as control, i believe Not onlt the hdb but the government should hear the deep hearts of the public. but all know the curren management party is always on their sayings, there is the reason why there is a saying singapore actually dont really have opposite party in the parl. ha strongly believe the next election will tells more on this current management party. salary not up but all up???

[cougar]

actually the question is, who are the $50k cash-over-valuations buyers? Sg or FTs?

[168]

just wait for the coming election, all will tells, media can be control, price can be control, most can be control, but not vote la... but maybe hor..

 

still rem the last live vote broadcast, the potong pasir opposition party siupporters very united, from the shouting and spirits we can see the holder there is reall been respected. can really feel the whole neighbouhood united.

 

but for the p@p, aiyoh.. all supporters seen like marking attendance there, non active, non supportive, dont dont why they there, maybe because they have to be there due to some reason perhaps...

 

seeing these hdb pricng and those taxes keep rising, and alot of feedbacks have been voice out, but think the current personnels not doing anything???

 

if got money confirm migrate, singapore everything wnt first, is positive, but still must think of the commonist, as a singapore we move together, but now just feel poor and average people left behind, only the rich moves with the ###

 

god bless

[168]

but i have a suggestion, why dont the hdb or related party hold a meeting session - i will feel that will be the best and real truth of how each singaporean feel! and singaporeans that keep putting hdb flat as investment also is the cause to today unbalance, the government should really step in now

[claudia-81]

but i have a suggestion, why dont the hdb or related party hold a meeting session - i will feel that will be the best and real truth of how each singaporean feel! and singaporeans that keep putting hdb flat as investment also is the cause to today unbalance, the government should really step in now

 

i agreed! but bet this won't happen in singapore, even if, high sensor and cover up will be in between.

[cougar]

actually the govt are seriously looking at controlling it, they are releasing 9,000 more balance flats, that's alot for one quarter.

[Constipated Face]

but i have a suggestion, why dont the hdb or related party hold a meeting session - i will feel that will be the best and real truth of how each singaporean feel! and singaporeans that keep putting hdb flat as investment also is the cause to today unbalance, the government should really step in now

 

Don't think they give a f^&k.

[ephroman]

two BTO launches today at jwest and sengkang..horrible locations for both..

 

and gosh how does hdb justify this:

quote from hdb.gov.sg

 

" * Except for AHG (Additional CPF Housing Grant), all other grant types are not applicable for buyers of new flats as the selling prices of new flats are already at subsidised levels."

 

they still dare to claim "A compact living space catering to all your needs is found in HDB's 3-room apartment. The floor area of new 3-room apartments ranges from 60 - 65 sqm.....With some clever touches, you can enjoy a cosy sanctuary with a feeling of having infinite space.

"

 

theres so much smoke coming outta my a.s.s right now...

[cougar]

omg, just checked, 3rm flats in mature estates $300k / 65sqm;condo studio apartments $500k / 35 sqm. Which one more worth it?

 

$400k / 90 sqm; condo 2 bedrm $1m.

 

Its a chain reaction, now i see the source for the sky-high HDB prices, pte property's psf invariably spill over the public housing's pricing. This is the source of high COV (cash over valuation).

 

The only way HDB prices gona cool is pte pty takes a dip. The root cause of the problem.

Edited October 16, 2009 by cougar

[contrarian]

There are many ways to cause prices to go down. Since many people choose to take the maximum loan they can get and then find out what that amount can buy them, price adjustment can be easily done by adjusting the ease of financing. For example:

1. Cut the financing period to say max 20-24 years

2. Cut the maximum loan to say 70% of valuation

3. Cut the CPF contribution rate (which is why real estate prices dropped in past recessions but not this one)

4. Increase the loan interest rate

Edited October 20, 2009 by contrarian

[cougar]

ya, but the problem if HDB and MAS not doing anything about it, becos this recession, the banks needs the biz to pick up. They lost a lots from fund mkt must be.

So market forces part is playing its full potential, without legislation intervention. Who suffers, the people, the 80% HDB working class population.

[contrarian]

They have actually done many things about it over the medium to long term - in the opposite direction.

 

Many years ago, loan periods were capped at 20 years. Now more than half the buyers take 30 years -> higher borrowing amount -> higher prices.

 

Many years ago, double income families were not so common. Now most families are double income -> more income to service loans -> higher borrowing amount -> higher prices.

 

Many years ago, interest rates were much higher. Now interest rates are so low that for the same income, your monthly repayment goes a lot further to repaying principal instead of interest -> higher borrowing amount -> higher prices.

 

In previous recessions, CPF contribution rates were cut. With lower CPF monies to pay monthly instalments, borrowers could not borrow as much as the past. Prices fell during recessions. This recession, the combination of no CPF cut and super low interest rates continue to fuel liquidity -> higher borrowing amount -> higher prices.

 

A few years ago around 2004, about 1 in 7 home loans were in negative equity as home prices fell significantly from 2000-2004. HDB was selling its new flats at such low prices that previous buyers in Jurong West complained that the HDB was selling new ones about $100,000 less than they paid for theirs a few years back. To deal with this problem, HDB slowed down its building programme significantly.

 

Around the same time, the financing rules were liberalised by both MAS and CPF. Until around 2005, loan amounts were capped at 80%, CPF withdrawal at 10% CPF and the rest in cash (for private properties). Now the maximum loan amount is 90%. Even at 80% financing, it's 15% CPF and the rest cash -> higher borrowing amount -> higher prices.

Edited October 18, 2009 by contrarian

[cougar]

wow, very insightful. thks for the picture.

[sherry4ever]

ti suppose the government should not keep mentioning about stepping in into the private property, anyway if they do, what they can do? high tax? right? AGAIN THIS THE CONTROL METHOD! CIGARATTE? control, higher tax? hahhaa.. reallly this a good way to control or ...????....

 

i think the best method is low dow gst, low down monthly maintain ad ultiity fees and charges.. low down taxes, low down all neccessary for the public...

 

as the temasekfunds are enough to deal with bad economic now and coming, but not us the public.....

[DeusExMachina]

Apparently they leave HDB flats... aka "public housing" to the mercy of market forces.

The market, competition, supply and demand determines the pricing.

 

 

But when it comes to petrol and cigarettes, they keep a tight rein.

As a result, all the bloody petrol companies are all in cahoots in terms of pricing. There is absolutely no competition.

 

Aren't there antitrust or anticompetition laws here against price fixing?

 

 

Oops, sorry my bad. All close eyes when tax revenue is involved.

[Finrod]

Hey guys, just wanna share something with u all. Im taking a p/t Dip course and a lecturer once told me that the masses are actually spending years of their lives paying and paying not for landspace but for airspace. Geddit? Like me, my BTO Punggol 4 room flat costs $205k.....but im actually paying all that money for airspace!!!!!

[claudia-81]

Hey guys, just wanna share something with u all. Im taking a p/t Dip course and a lecturer once told me that the masses are actually spending years of their lives paying and paying not for landspace but for airspace. Geddit? Like me, my BTO Punggol 4 room flat costs $205k.....but im actually paying all that money for airspace!!!!!

VERY LUCKY LOO... 205k for a 4rm, now 280-290-300-330k for a 4rm ar?

crazy pricing... anyway really hope the HDB decrease the price for the sake of the public. or it will reflects a very negative image to the government. cigaratte, alcohol, coe, all other taxs related can be foce to accept, as aslong as like dont own a car can escape those XXX taxs and fees, but we cant dont live in the shelter ar? rather disappointed on the government on the HDB pricing rate. our plege motto seem to be not valid. the MP should really step out to hear the public, not keep tell the public what they survey,i have an idea, if a open public feedback is holded by the media, regard this topic wih no sensor and live answerig by the MP incharge himself, hi guys what do you think the outcome will be? if so as whatthe news arekeep reflect, we wilknow is the minority are chossy or the majority are not afordable. as a human being, we works not just to owns a flat, but least some puffle allowance for persoanl usage or enjoyment, not over but least the basic.

[claudia-81]

sorry to add on, if possible feedback to the hdb board to create a forum? do you think they will? or d@re? i bet not... anyway not only hdb pricing alot of other treats and controls will be really reflects on the next election.

[MC28]

Ever heard of PR buying a HDB in SG near Wdls, rent it out and travel in/out daily from his own home in JB..

[flusulide]

bookmarked and b back l8er, bro, :-)

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[cougar]

Ever heard of PR buying a HDB in SG near Wdls, rent it out and travel in/out daily from his own home in JB..

 

actually i was also thinking, on retirement, buy a M'sia house, stay there, spent ringgit, HDB flat in SG collect rental to survive in my golden years.

[Finrod]

actually i was also thinking, on retirement, buy a M'sia house, stay there, spent ringgit, HDB flat in SG collect rental to survive in my golden years.

ur saying out my thoughts aloud bro.

[paperger85]

Hmm...We all think the same way. In future we can share moolah to buy a plot of land together. lol.