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.

angel7030 SG

You obviously do not have brains. It's precisely because of the huge influx of PRs that resulted in the spike in demand. How can you blame singaporeans for asking for sky high prices? Any rational person will sell at a higher price if the demand is strong. Going to the root of the problem, it's because demand is higher than supply. Why is this so? Because the government has failed to control BOTH the demand AND the supply effectively. Or in another point of view, perhaps the government planned to allow the demand to outstrip supply just to inflate property prices and boost GDP. Either way, we have only one party to blame, we all know who.

If singaporeans is to get united and refuse to sell to PRs, guess what will happen?

The party that created the scenarios have other objectives beside housing, housing prices or so call property booming is only a by product of that objectives, and to clarify abit of it, one of the main objective is to increase population here due to low fertility rates of Singaporeans, me not included. And when the flood gate open, tons of peoples troll in leading to so much by product created.

VivId CrItiQuE SG

If singaporeans is to get united and refuse to sell to PRs, guess what will happen?

Your thinking is so childish, "if singaporeans is to get united and refuse to sell to PRs...", if you are a seller, would you refuse to sell your flat to someone who is willing to pay a crazy price for it? I think most singaporeans who sold their flats at crazily high prices to the PRs probably thought that the PRs are stupid suckers anyway. The only way to solve the problem is not through some childish "let's ostracise the PRs" method, but rather to shift the market equilibrium through proper demand and supply control.

angel7030 SG

i am looking and asking question as alway to find an answer...the true all these problem is that SIngaporean dun want to give birth leading to population decreasing and old age population booming, so what you do?? let singapore sink and people disappear one by one until you and me around in the Garden of Eden again.

angel7030 SG

the key words is "if" let say only

Ccjt SG

I agree with godchuanz. The reason for the higher hdb price now is because the market is adjusting towards the real price equilibrium. Most ppl was paying too low for their flat before and actually could afford more. Just that there was no catalyst for this price hike until recent years.

Actually, i think HDB prices will ceiling at 600-700k which is now.
Why? because the salary ceiling for cpf contribution is $4,500.

Assume husband and wife both hit the salary ceiling :-
Mthly cpf contribution to ordinary account is $9000 x 28.5% x 0.667 = $1710
Loan amt for 30 years period with mthly repayment $1710 ~ $450k

If a couple want to pay their flat fully by CPF, their max loan is $450k ( at interest rate of 2.6%) Assuming they are 30 yrs old when they bought their hdb , rough total cpf they have in CPF ordinary acct will be $175k.

If a couple does not want to fork out any cash when buying a flat, their invisible ceiling is ard 625k. Until now , most of singapore will not fork out cash to pay their housing mthly repayment.Thus, my take is HDB price will ceiling ard 600-700k. Yes, there will still be rare flat sold at exceptionally high prices but most of the flats @ good location will ceiling at this range.

Catknight SG

Now guys let's get real...in the past we work for a family now ppl like me work for a nest egg to get out ofSG!! Why ppl like me wanna leave...look at the problems at this forum and you know why...so dun think of having a peaceful happy life in a material culture here...

Terminator Hitman SG

u cant leave....what bout yer folks that u couldnt bring....ya need to bring everypne over to migration country or u have no choice but to fight it out at city hall not next year but rather tonight if u need the nightmare to end!

Terminator Hitman SG

ok...we now already know price will go up and will never come down......now what????

u have the below choices:

1)migrate and forget bout mom n pop stuck back in spore

2)fight it out until u can afford the pigeon hole shelter thats already too overpriced years ago

3)go live on pulau ubin

4)go live in JB which sounds cheaper now even though it was expensive years ago

5)dont get married....dont have children...live wiv parents..cross fingers dat u would strike lottery 1 million which probably would give u a shelter before shelter gets reclaimed by SER or whatever

6)build yer own yacht n live on it.

Arapahoe SG

It's "affordable" .

over lifetime.....and beyond...ha ha ha

Arapahoe SG

See this is a big "If" that your income stayed unchanged and not affected by economics downturn or illnesses............

charlize SG

over lifetime.....and beyond...ha ha ha

It's just a matter of paying over 10 years, 20 years, 30 years or 100 years .

soul_rage SG

It's just a matter of paying over 10 years, 20 years, 30 years or 100 years .

Maybe HDB will change their policy.

Allowing payment of HDB flats to continue across generations.

So if parents pay until die and still cannot finish up payments, children continue with the payments.

charlize SG

Maybe HDB will change their policy.

Allowing payment of HDB flats to continue across generations.

So if parents pay until die and still cannot finish up payments, children continue with the payments.

That's what I suggested before.

50 year loan paid by parents, the remaining 50 (49 years actually since on 99 year lease) paid by the children.

Arapahoe SG

That's what I suggested before.

50 year loan paid by parents, the remaining 50 (49 years actually since on 99 year lease) paid by the children.

Filial Piety in action...... : ) another social engineering intergrated long term planned at the end of the day not all folks can afford to upgrade.....

Catknight SG

Another reason why Sg can't be munich.....

soul_rage SG

That's what I suggested before.

50 year loan paid by parents, the remaining 50 (49 years actually since on 99 year lease) paid by the children.

Great suggestion.

I think you can replace ah Mah as the Minister of National Development

Genie99a SG

If singaporeans is to get united and refuse to sell to PRs, guess what will happen?

Chiu will see the pigs flying.

Kind Regards

Genie

Genie99a SG

Do chiu know that Singaporeans voted that party in? So blame who again?

Kind Regards

Genie

Wmyongj SG

stop complianing, no one will listen, not the govern, not PAP.

As long as sg govern feel that every citizen is provided with a 'cheap' HDB why bother about rising resales and private property price. If Sg ppl want away from public housing so you will need to compete with the riches of the world who eventaully will buy up all of sg.

If sg citizen cannot own the millions, forget abt private housing, just be contented and live in HDB. Afterall, we are the one who choose the government and live like a third world citizen in a first world coutnry.

Colton87871 SG

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