3,500 vied for 714 condo-like flats , but only 460 sold

SevenEleven SG · 2008-03-26T11:29:11+00:00

u do know the difference between freehold and leasehold dun u...? xD u do know that location and supply/demand does play a big part in property price dun u?...

SevenEleven SG

http://www.straitstimes.com/Free/Story/STIStory_220175.html

Perhap HDB owe the people an explaination afterall HDB is suppose to build affordable housing for the people

Ferret SG

HAHAHAHAH at that prices, might as well buy condos, right ?

elindra SG

I dunno what made them thing that people with a combined income of 8k will want to get a flat there

Heck the 3 room flat is even more expensive than my resale 4 room flat and the location I'm in is very good too

SevenEleven SG

my gut feel is all these are a hoax

elindra SG

my gut feel is all these are a hoax

What is a hoax?

TCH05 SG

I dunno what made them thing that people with a combined income of 8k will want to get a flat there

Heck the 3 room flat is even more expensive than my resale 4 room flat and the location I'm in is very good too

I think the only way a <$8k couple can afford for such an apartment is for the parents to help them with the downpayment.

elindra SG

I think the only way a <$8k couple can afford for such an apartment is for the parents to help them with the downpayment.

This kinda defeats the purpose of children supporting parents right? :P

Or if the couple have a lot of cash savings

But for youngsters these days that is like asking for their arm and leg

SevenEleven SG

What is a hoax?

a false demand so that ppl will rush in thinking the supply is diminishing.

elindra SG

a false demand so that ppl will rush in thinking the supply is diminishing.

But they did explain in the article that a lot of people not taking :P

I'm one of them :P

I figured it's not worth selling my ass to the bank to service the flat if I get one at Boon Keng and also property prices dropped. I got my 4-room when it was at it's lowest. No way am I getting one at it's peak :P

Plus the units I was looking at are all taken and the leftovers are just not worth the price tag

TCH05 SG

This kinda defeats the purpose of children supporting parents right? :P

Or if the couple have a lot of cash savings

But for youngsters these days that is like asking for their arm and leg

If a <8K couple can afford to accumulate such a sizable cash saving, I am sure they should be very frugal and smart with their money, hence i dont see why they would buy such an expensive HDB property.

Children supporting parents? Thats only if the children of today still treasure our asian values.

TCH05 SG

a false demand so that ppl will rush in thinking the supply is diminishing.

Dont think it is false demand, I believe the reason is because of a sudden change in market sentiment. e.g.

a) A sudden slowdown in property transaction which was trigger by the deferred payment scheme and uncertainty of the economy.

b) Local banks are more careful with property loans due to tightening of credit market and effect of sub-prime

c) Local banks overly stretched with mega projects like the IRs.

elindra SG

Children supporting parents? Thats only if the children of today still treasure our asian values.

Hehe true too or unless they think that prices will go up in the future for these flats but then again the purchase price at this pt of time isn't exactly a smart move

Though seriously the 'children' are now adults and they need their parents to pay for their flat... they wun feel paiseh meh

baby hunter SG

Children supporting parents? Thats only if the children of today still treasure our asian values.

even they do have the money for downpayment, imagine, if u r loan for 400k, repayment of 30 yrs, monthly installment will be ard 1.6k to 1.8k ( CPF loan. if is bank loan, even higher)

with combine income of 8k. oso nt enough to pay through CPF, still hv to come out with some cash.....imagine, if either one of them lost of job, gd luck to you!!!!

TCH05 SG

Hehe true too or unless they think that prices will go up in the future for these flats but then again the purchase price at this pt of time isn't exactly a smart move

Though seriously the 'children' are now adults and they need their parents to pay for their flat... they wun feel paiseh meh

There are many ways you can grow your wealth but buying a brand new HDB flat is definitely not a smart one because of the restrictions.

i think the "children" will first accept it as free "loans" from parents because their reasoning is that bank saving interest rate is so low might as well us it to reduce the interest payment.

And after a few years, when cashflow is tight because of increase expenses due to lifestyle or family etc they will just act blur.

fishbuff SG

for HDB, u own the lease, not the flats.

for $770,000, u can buy one of these at Stretton in brisbane.

TCH05 SG

for HDB, u own the lease, not the flats.

for $770,000, u can buy one of these at Stretton in brisbane.

And paying an interest of about 9% compare to about 3.5% in Singapore.

will4 SG

And paying an interest of about 9% compare to about 3.5% in Singapore.

Fishbuff is trying to sat that buying a flat in Spore, the price can get a big house in Australia n basically it is ours permanently.

redDUST SG

TCH05 SG

Fishbuff is trying to sat that buying a flat in Spore, the price can get a big house in Australia n basically it is ours permanently.

For $770K, you can buy yourself an islands in Canada. You interested?

http://www.vladi-private-islands.de/sale/site/html/cms_de-sale_region_en-0-12/canada_east_central.html#islandlist

will4 SG

For $770K, you can buy yourself an islands in Canada. You interested?

http://www.vladi-private-islands.de/sale/site/html/cms_de-sale_region_en-0-12/canada_east_central.html#islandlist

Canada is a country where many locals also prefer to migrate to. Compared to an HDB flat, it is better to buy houses in other countries.