Price of being singaporeans

siloti SG

>> Mr Mah assured Singaporeans that there will always be a distinction made between citizens and permanent residents (PRs). 'For example, in public housing, if you are a citizen, you will enjoy many benefits which the PR does not get. And we will continue to strengthen those distinctions and to make them very clear,' he said.

Let's look at facts, new HDB S'poreans can buy:

New Punggol HDB flats currently being offered by HDB:

              Typical Applicants' Median
              Selling   Household Income
              Price
4 room $295K   $4100
5 room $375K   $5100

For household income of $4100, the 1st time buyer will enjoy an addition $10K grant. Grants are not applicable for household income above $5000.

Hence, typical new HDBs at Punggol for 1st time Avg Singaporean owners:

4 room $285K
5 room $375K

(http://www100.hdb.gov.sg/09JULBTOPG_pdf/$file/Punggol_Residences_General_Info.pdf)

Let's look at HDB resales which PRs can buy:

Actual May 09 HDB Resale transactions at Punggol:

4 room, avg of the 10 transactions = $334.4K
5 room, avg of the 18 transactions = $392.1K

(http://www.scribd.com/doc/15509668/HDB-Resale-Transactions-May-09)

Conclusions:

At punggol, on average, 1st time Singaporean HDB buyer will pay less than that for PR buying HDB resale:

4 room: $285K vs $334.4K, saving $49.4K or 14.8% Discount

5 room: $375K vs $392.1K, saving $17.1K or 4.2% Discount

My Singaporean bros, do you want to get 14.8% discount for a 4 room or (worse) 4.2% discount for a 5 room but in return, you have to serve 2 years NS and 20 years of reservist?

ditzy SG

Uh, its 2 years of service, and 10 years of reservist. For me its ok, I have already come to terms with that fact if I am singaporean.

seyKai SG

HDB flats are overprice

ask Mr. Mah - how much is hdb making per flat?

loki_chaos SG

Few months ago, I already started noticing more PRs(PRC nationals) serving NS as well...not just singaporeans anymore.

Fugazzi SG

Singaporeans must be stupid to buy into this convoluted crap!

Publish the figures and prices and ensure independent verification.

Its the lack of transparency that irks the public.

charlize SG

Singaporeans can get $200 GST credits.

Hrmph.

333225520 SG

Few months ago, I already started noticing more PRs(PRC nationals) serving NS as well...not just singaporeans anymore.

2nd generation PRs need to serve NS. But 1st generation don't.

If you see a 1st generation PR serving NS, I wonder which country NS you are serving? China?

333225520 SG

HDB flats overpriced. Gov always claimed is below market price, but actually referring to below the resales price.

With the influx of FT, the resales price was pushed up, followed by new HDB flats price. No wonder gov want FT to come here.

deathmaster SG

ya lor. now with $4k income, still have to slog 10-20 yrs to repay the housing loan... back then in the 80s, 5-6 yrs can repay finish liao....

and we just have to work and work and work. till you die.

Ah Chia SG

With the influx of FT, the resales price was pushed up, followed by new HDB flats price.

HDB, food prices all increase, wages decrease.

Standard of living drop.

charlize SG

99 years later still have to return to the government.

Technically, I would think most people in their whole lifetime will likely have paid 1 million dollars directly or indirectly to the government through HDB mortgage loans, interests, GST, ERP, road tax, property tax, TV licenses, conservancy tax, income tax plus other miscellaneous forms of tax that they come up over the years.

av98m SG

99 years later still have to return to the government.

haiz.

Ah Chia SG

That is PAP's ambition.

One of his faithful ministers, the late S Rajaratnam, echoed his sentiment by sneering, "We want to teach people the government is not a rich uncle. You get what you pay for.

http://yoursdp.org/index.php/news/singapore/1437

Fugazzi SG

Perhaps we ought to all wake up to the fact that we have unwittingly bought into this lie that has been propagated to the point of deliruim: that (or equate) higher cost of living ( being or having) means higher standard of living!

charlize SG

You got to admit that million dollar salaried people are sitting in their ivory towers saying that everything is cheap and affordable.

Your half a million dollar HDB flat is of course affordable to someone earning a million dollars.

She looks at the price and sees that it equates to only half a year of her salary.

Your 30 year mortgage loan means nothing to her.

Ah Chia SG

Your 30 year mortgage loan means nothing to her.

We mere mortals must get out of the fucking elite's uncaring mother fucking face!

Elite and mere mortal how to compare?

xtreyier SG

Citizenship is to be cheapened by equating it with NS and the HDB flat? Is that what citizenship means to the minority few? And public money belongs to the govt, to line their wallets and none for citizens' social programs?

This certainly takes pragmatism or self centredness to new levels. The super rich jetset in the Bahamas would welcome you folks for lectures to them.

Hwaimeng SG

price of been a singaporean is to have a longer neck

so that our Peanut And Pay party can sink their vampire teeth deeper into our neck and suck as much as they can while we are living in singapore.

angel7030 SG

Indirectly he is saying, Singaporean should be staying in Condo, leave you HDB for PRs

angel7030 SG

We mere mortals must get out of the fucking elite's uncaring mother fucking face!

Elite and mere mortal how to compare?

you can laugh and F them...or whatever, but at the end of the day...u are one of their target..