HDB selling new 5RM at Queenstown at 500K!

last SG · 2008-01-19T02:47:49+00:00

you need to specify whether you are buying directly from HDB or from the resale market.

maurizio13 SG

Most of Marine Parade flats are transacting at that price last year.

deathbait SG

location location location

it's queensway.

If you can't afford it, you can join me at applying at seng kang along with the rest of us young kids.

As long as HDB is still supplying cheap flats to the public, does it matter how they price the good location flats? It's obviously not targetted to the young family.

maurizio13 SG

Now we know why the flats in Seng Kang so cheap, I guess the flats in Seng Kang will go down further after................... Laughing

Just kidding.

genie99 SG

Laughing should change yer nick then.... goondumeh?

gartheven2000 SG

hi iamgoondu, can u pass us the link to this info? tks!

iamgoondu SG

Here's the link:

http://www101.hdb.gov.sg/hdbvsf/eampu01p.nsf/0/08JANBEQT_page/$file/08JANBEQT_price.htm?open&ft=be

play_n_play SG

my collegues husband and wife, both in my company, together earn around 7.5k per month, last week told me, they cannot even afford 350K HDB...

500K for new 5RM HDB flat in queenstown??? this price is based on what??? Rolling Eyes

onlooker123 SG

Earn 7.5K/month family income why cannot afford 350K HDB?

How did they define whether they can or cannot afford?

Maybe should work out the figures b4 so that everybody can be clearer.

My view is that if you have no other big liabilities/loans, 7.5K/month income surely can afford 350K HDB.

gartheven2000 SG

tks fo r the link! Razz

BrUtUs SG

young couples can only stay in sengkang/or ulu places else they will paying a life long debt… dark days ahead for them…

michaelyeo SG

I refer to the posting under THE STRAITS TIMES FORUM : Bank valuation only half of market rate from Wong Meow Yin (Ms).

Knight Frank has responded to Ms Wongs posting. Please go to http://www.straitstimes.com/ST%2BForum/Online%2BStory/STIStory_196095.html

Michael Yeo
Director
KNIGHT FRANK PTE LTD

maurizio13 SG

Perhaps an indication from the banks that the current property prices are not sustainable, it's a result of price inflation due to supply shortages, mainly due to more inflow of immigrants to Singapore.

eagle SG

How would you consider whether it is ulu a not.

Suppose you stay in Sengkang, how long do you think it takes to go to the city using public transport as compared to staying at Queenstown and going to the city also by public transport?

787180 SG

..right sure drop but only till Irs are completed..Govt has to support and make it a success mah....crazy real estate prices now will be met with a crash

soul_rage SG

I understand what you are arguing eagle.

But I want to bring you back to a point that TS is talking about.

The basic cost of a HDB flat is only about 30k to 50k. The main objective of the HDB is to provide affordable housing.

So what are they doing selling a flat at 500k and making ridiculous profits (even more than the private developers, whom need to bid and pay for the land before they even start building)?

Perhaps we should relook at whether HDB is still relevant or not, if they have deviated from their objective

Becoming like NTUC to me. National Trade Union Congress becomes involved in EVERYTHING that makes money and forgets totally about its original purpose.

maurizio13 SG

HDB cost $30,000 to $50,000, later our P4P arse lickers will ask you to prove it.

Laughing

They will tell you, if you don't have the evidence don't malign the innocent.

baby hunter SG

whether or not the cost is $30,000 to $50,000.
the point is, if HDB can market their new flat at $150,000 to $200,000 at Jurong west, Sengkang, Yewtee & woodland.... there's no reason they have to market the flat at $400k to $500k at Queenstown....
Obviously, they think that it shd worth that much due to open market's prices are at that level or higher at that area, that's already telling us they're taking the ride from the properties brooming market!!
Its already againt the basic fundamental of HDB ( to provide afortable housing ). they shoud'nt rise their selling price to match the open market ( as it is OPEN MARKET!!! prices is determine by demand & supply, ppls can choose nt to buy or sell)

eagle SG

Sigh...

How many of our dear govt's original main objective have been deviated? I'm lazy to count... Sad

Anyway just a quick calculation. Supposed inflation is at 5% a year.
$1 30 years ago would be about $1 * 1.05^30 = $4.32 now.
However, we can easily see that landed housing has risen from 30+k to 2 mil for a specific plot of land in Hougang...

Doubletalk SG

Originally posted by maurizio13:
HDB cost $30,000 to $50,000, later our P4P arse lickers will ask you to prove it.
Laughing
They will tell you, if you don't have the evidence don't malign the innocent.

Laughing Have they proven that it is NOT, they have the resources and yet they want evidence from everyone who expresses doubts...

maurizio13 SG

Didn't you hear what our most esteemed oxford mushroom said, "it's about the economy stupid!". So this regime is about money money and more money. It's not about maintaining the serfs livelihood. If the serfs can't compete, go die in some corner, there are always more foreign talents to take over.

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