Ridiculous HDB Prices

last SG · 2010-05-31T19:17:39+00:00

Wa, I read reports say resale prices will fall soon. They must be joking right? Don't scare me.

likeyou SG

When a guy rod, around 22 yr old. Come out to work, got gf, together for 5 yrs, how much can they save?

How to buy a 4 or 5 room hdb? Housing loan for 15 to 20 yr.

By the time loan is up, that guy already coming to 50s.

1 leg underground liao.

elindra SG

I can only say good luck to us Singaporeans

I went for drinks with my FT friend yesterday and he’s looking to buy a condo here in SG

So those in the sandwich class will also have to compete with the FTs for condos and not only HDB

I can only say the best decision of my life was to get married early before our combined incomes hit 8k >.<”

βέτά SG

If you are first time HDB buyer, 3 room standard is available in new area below $200K. If you are second time buyer, and have to buy from open market at $250K to 350K, but you already have a base with your existing flat, so the calculation is not the same.

The fact remains, you don't have to earn $7730 to afford a 2 room flat, but of course you need that to stay in a studio apartment in orchard road. It is also true that with the income ceiling of $2000 for 2 room flat and $3000 for 3 room, we don't see singaporean sleeping in changi beaches.

The one who are really having problem now are the sandwich class. Young graduates got married late, when over 30 their combined income goes near $10k, cannot buy HDB, have to pay over $1 million for a simple 3 room condo, they can punch a hole in their calculator but still will have difficulty.

You don't see Singaporeans sleeping in Changi beach because they have been arrested or chased away by the police.

You are an extremely ill informed Singaporean.

First you tell us that all the CPF could be used to pay for housing, not knowing that the CPF is split between the 3 accounts (Ordinary Account, Special Account and Medisave). Then you tell us that there are no homeless in Changi beach, but then you are correct about no homeless in Changi beach because they have been arrested or chased away by the police. There is also a limit on the amount of CPF you can use for your HDB, once it's over the amount, you have to pay cash from you monthly salary.

On Monday, 29 March, I went to Changi Beach in the morning. I had been there several times before in the past few months and have always been greeted by the sight of tents lined along the beach front. This time, however, the beach was completely empty of any tents, except for one put up by a young Chinese couple.

I wondered where the regulars were – those homeless people who had been camping out there the last few months. I had become friends with some of them and heard their stories of how officers from NParks and MCYS had threatened and fined them for “squatting” at the park.

Later I chanced upon one of the women who frequent Changi Beach. “They came and raided the place every day last week,” she told me. She was referring to officers from Nparks and MCYS. “Some of them were fined S$200,” she said. “So that is why there is nobody there now?” I asked her. “Yes, they have all disappeared. I do not even know where they have gone,” she replied.

http://theonlinecitizen.com/2010/04/raiding-the-homeless-%e2%80%93-part-two/

βέτά SG

http://www.youtube.com/watch?v=TLE_px4vNnE

βέτά SG

http://www.youtube.com/watch?v=y-guxHFyz2A

sgdiehard SG

I can only say good luck to us Singaporeans

I went for drinks with my FT friend yesterday and he’s looking to buy a condo here in SG

So those in the sandwich class will also have to compete with the FTs for condos and not only HDB

I can only say the best decision of my life was to get married early before our combined incomes hit 8k >.<”

especially the condos, it is the open market, singaporean upgraders, FT, foreigners are all coming in. But of course, the FT also have to work to get money to buy, most of the FT buying condos are in their 30s already, professionals, if they don't have an appreciated HDB, it is tougher for them to even pay the first 20%. The hot money from overseas are going for the higher class condos, in prime district.

Just have to watch if there is a property bubbles.

sgdiehard SG

You don't see Singaporeans sleeping in Changi beach because they have been arrested or chased away by the police.

You are an extremely ill informed Singaporean.

http://theonlinecitizen.com/2010/04/raiding-the-homeless-%e2%80%93-part-two/

you singaporean?

axxs SG

how can singaporeans be asset rich?our hdb flats is where we go to eat,bathe,sleep and shit while we make money at our jobs,if we sell it where can we go?take our families overseas?or sleep in our cars?judging by the price of real estate in singapore,all we are doing is changing one door number for another.

worst still all the hdb flats look the same,people actually think that by paying $350k+ for a 5 room flat that somehow their home is higher standard of living than the rest of us.sure maybe they can afford oakwood floorings,tvs in walls and huge mirrors to make their flat look bigger,at the end of the day its still a tiny cramped ugly block of concrete that cost a fraction to build.

for 350k i can probably buy a 2 story villa,with a heated swimming pool and jacuzzi in middle town,usa.or i can buy a cheap apartment in chicago that is just as good as a hdb flat and put that $350k in a high interest bank account,better than the crappy cpf rates that the government give us.i want to eat steak and potatoes not cat food and hup seng biscuit when im 60 years old in my $350k flat.

sbst275 SG

land is expensive here

but making quick buck from COV is like... where u going to find cheap HDB flats? wat goes ard comes ard

charlize SG

land is expensive here

but making quick buck from COV is like... where u going to find cheap HDB flats? wat goes ard comes ard

I say again.

Expensive HDB flats is not just an economic problem of dollars and cents but also a social problem that will go beyond that.

Really.

elindra SG

For CDN 350k I can get a condo in Downtown Toronto, right beside the CN Tower or if I prefer to be beside Lake Ontario I can opt for that too.

At that price I can also get a condo right beside Yonge Street

βέτά SG

For CDN 350k I can get a condo in Downtown Toronto, right beside the CN Tower or if I prefer to be beside Lake Ontario I can opt for that too.

At that price I can also get a condo right beside Yonge Street

On the other hand, if the Canadian PAP government increases the Toronto population by 35% in a few years, you will also find your condo prices doubling.

It's a case of demand out pacing supply.

This is good if prices double and you have extra condos in Canada to sell, in Singapore you only have 1 HDB, if you decide to sell, it's either you plan to rent or live on the streets. Forget Changi beach can't squat there since the police raided the place.

charlize SG

For CDN 350k I can get a condo in Downtown Toronto, right beside the CN Tower or if I prefer to be beside Lake Ontario I can opt for that too.

At that price I can also get a condo right beside Yonge Street

You can live anywhere in Canada but don't live next door to littlestream.

Really.

deathmaster SG

just curious, anyone here seriously contemplating buying a house in johor insteadof hdb, somewhere near 2nd link or causeway?

As far as i know, m'sia welcome foreigners to stay as PR, under the M'sia 2nd home scheme, provided that you buy a house of value at least RM$250k (roughly slightly over S$100k, based on current exchange rate).

for RM250k, you can buy a semi-detached or even a bungalow, at a price cheaper than the cheapest HDB 3 room flat. Also, these kind of luxury houses often come with a fenced security perimeter with 24/7 security surveilence, and most importantly, the cost of living there is cheap.

Meanwhile, you still continue to work in singapore, earn in terms of SGD which gives you 2.3times purchasing power over in M'sia.

In my opinion, the money saved justifies the slightly longer travelling time. It takes bloody long to save up/repay $200/300k (housing loans), to have it all locked up in a non-liquidable "asset". The money could be better spent on investments for retirement.

please share your opinions

sgdiehard SG

just curious, anyone here seriously contemplating buying a house in johor insteadof hdb, somewhere near 2nd link or causeway?

Meanwhile, you still continue to work in singapore, earn in terms of SGD which gives you 2.3times purchasing power over in M'sia.

please share your opinions

welcome to the life of a malaysian contractor. Go to the causeway at 5 am in the morning or 7 pm in the evening and you wll see thousands of people doing exactly what you said, come to singapore and make SGD and spend in RM in johore!! there are also thousands of kids travelling to schools via the causeway, ......has happening and is still happening,

but, when they can get PR, they will buy pigeon hole HDB in Singapore, why?

many people can do calculations, sell HDB and buy villas in USA, a big condo in Vancouver or a house in Perth, actually, a few years ago, during the sub-prime crisis, a 2 room HDB can buy you a mansion in the US, but why are people coming to singapore to jack up the prices ????????????

Who jack up the prices of HDB in Singapore? the singaporean who pay high COV then kpkb or the stupid foreigners who forgo the villas and mansion in US, Canada .....for a lousy HDB?

The singapore government is just too happy to collect the stamp duty, the housing agents have their pocket filled, and all existing house owners happy to see their property appreciate....only the outsiders, think singaporean are very poor, and there are people living on the streets....Who really suffers from this unhealthy hike in prices of houses, both public and private? Anybody got a true story to tell?

βέτά SG

but, when they can get PR, they will buy pigeon hole HDB in Singapore, why?

Who jack up the prices of HDB in Singapore? the singaporean who pay high COV then kpkb or the stupid foreigners who forgo the villas and mansion in US, Canada .....for a lousy HDB?

Thanks for telling us how overpriced our properties are compared to other developed economies.

US houses cheaper, but they have restrictions on immigrations there, you don't see a 35% increase in their population in 3 years.

US houses cheaper but still you don't see a large majority of Americans purchasing Singapore HDBs, the majority of HDB are taken up by new 3rd world immigrants (either through purchase or rental), driving up prices.

Foreigners who can't get citizenship or green card won't want to purchase properties in the US. So what's the logic in saying that foreigners (3rd world) here have a choice of immigrating to US and purchase a property there. You telling me that the Indians, PRCs, Filipinos, Indonesians here gave up their green cards and citizenship in the US so that they could come Singapore and purchase over valued public housing?

Seriously, as a HDB owner, it won't make a difference if my property is a million dollars, I can't sell it and live on the streets. On the other hand, if our HDBs was cheaper it will help new families in providing a higher standard of living for their children.

elindra SG

And they wonder why Singaporeans are getting married later and don't want to have kids

sgdiehard SG

Thanks for telling us how overpriced our properties are compared to other developed economies.

US houses cheaper, but they have restrictions on immigrations there, you don't see a 35% increase in their population in 3 years.

hehe...when you compare Singapore with a continent such as US and Australia, that is when you wonder why you are losing out to people from the third world countries. I have nothing to say.

sgdiehard SG

And they wonder why Singaporeans are getting married later and don't want to have kids

is there a secret why young people today are getting married later and don't want to have kids?

βέτά SG

hehe...when you compare Singapore with a continent such as US and Australia, that is when you wonder why you are losing out to people from the third world countries. I have nothing to say.

I thought you were the one that gave reasons why Americans and foreigners (3rd world countries) rather buy properties in Singapore than USA and Australia?

Is this the best that you can retort me with after I showed your flaws in logic and reasoning?

I also have nothing to say.

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