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.

charlize SG

Don't worry about rising HDB prices.

Our median salary will reach $3,000 plus per month in the next 10 years or so.

The people at the top promised.

We will be able to finally afford that 3 room flat costing half a million dollars.

βέτά SG

Demand pull inflation.

angel7030 SG

Don't worry about rising HDB prices.

Our median salary will reach $3,000 plus per month in the next 10 years or so.

The people at the top promised.

We will be able to finally afford that 3 room flat costing half a million dollars.

Don't worry, in about 5 to 10 years time, that 3 room of your will worth a million. Just look at it from the perspective of that book value, and you will be a very very happy person, and then you can tell yourself, its worth my slaving for this govt

angel7030 SG

Demand pull inflation.

Supply pull deflation

angel7030 SG

Alot of my relatvies very happy cos their house value increase.

But those who firstime buy house gt to pay for a long time to own the house.

why go buy first time house?? rent and wait for parents to pass away lah

sbst275 SG

Don't worry about rising HDB prices.

Our median salary will reach $3,000 plus per month in the next 10 years or so.

The people at the top promised.

We will be able to finally afford that 3 room flat costing half a million dollars.

no use, wages up will only get makan by e rising property prices.

And the scholars still believe it can go up higher w/ projects like MRT. I'm more to think MRT will only become a commonised item, fetching no premium in time to come.

angel7030 SG

no use, wages up will only get makan by e rising property prices.

And the scholars still believe it can go up higher w/ projects like MRT. I'm more to think MRT will only become a commonised item, fetching no premium in time to come.

Uncle, to the nearest MRT station please.

sbst275 SG

Uncle, to the nearest MRT station please.

with more and more MRT lines covering more parts of e island, wun it get more commonised instead?

I'm more to think MRT will fetch no premium in time to come.

angel7030 SG

with more and more MRT lines covering more parts of e island, wun it get more commonised instead?

I'm more to think MRT will fetch no premium in time to come.

it will make our land basement hollow while blocking lots of water channelling and distribution leading to flash flood and so on. Once built, MRT become a low cost operation, just like Phone companies, once on air, they will takes as much customers as possible, the more the merrier. By and large, with the increase of population, car COEs, bus fare increases on longer road and taxis with all kinds of surcharge here and there,..I have a feeling that our govt, who is not only taking in lots of money from the land and road on the surface, they are also now looking at the underground profits

Genie99a SG

1. Are you creating a monsterous govt out of your own individualistic kiasee and kiasu mentality? or

2. Is the Govt created and cultured you to be individualistic in a way that you complain alot and yet you are still the one buying car and lining up the Q for HDB flats?

Both....chicken and egg..... which came first?

Kind Regards

Genie

Incidental Singaporean SG

'Severe asset inflation'
By Melissa Tan
Aug 11, 2009

SINGAPORE risks 'severe asset inflation' during the economic recovery, a local economist has warned.

But this danger can be averted if the Government acts now to control the prices of HDB flats, said Mr Paul Yip, Nanyang Technological University (NTU) associate professor of economics.

Asset inflation - meaning a rise in price of assets such as stocks and property - is a possible consequence of the United States' current expansionary fiscal policy, Professor Yip said on Tuesday.

He was speaking at an NTU symposium - on exchange rate systems and Asian macroeconomic policies - which brought together 11 macroeconomists from institutions such as Stanford University and Delhi School of Economics.

'Many people say that the property market is rebounding, but I don't think so; we are still bottoming. Recovery will be slow ... and a few years later we might have severe asset inflation, much more than the rise today,' Prof Yip said.

'So if you are a stock investor or property investor, it's very easy. Just hold your stock and shares for another three or five years - the price will climb to be much higher. But if you lose money, don't blame me,' he quipped.

Prof Yip noted that the US government has lowered interest rates and expanded its money supply in a bid to avoid a repeat of the Great Depression.

But post-recession, the government may fail to shrink the money base back to pre-downturn levels, he said. In that case, excess US dollars would flood the market.

'For Singapore, there may be an inflow of money from the US, increasing the money base and therefore the money supply... When the recovery comes, there will be wage inflation and consumer price index inflation, and this will fuel asset inflation,' he told The Straits Times.

'Rents will rise and then people will be able to charge even higher rents, causing a vicious circle,' Prof Yip said.

Read the full report in Wednesday's edition of The Straits Times.
Copyright © 2007 Singapore Press Holdings

Incidental Singaporean SG

Jul 25, 2010
'Imbalance' in resale HDB
By Melissa Kok

THERE is an 'imbalance' in the HDB resale market and it may take around a year or so before prices of resale flats will stabilise.

These comments were made by National Development Minister Mah Bow Tan on Sunday, who was addressing concerns about the prices of HDB resale flats, which have been consistently rising since 2008.

Speaking on the sidelines of a community event in Tampines, Mr Mah attributed the surge to strong economic growth and increased demand from first-time buyers and those looking to upgrade to bigger flats.

'I think at this point in time, there's still an imbalance. I hope that with HDB pushing out a record number of flats this year, this imbalance will be redressed over the medium-term... I would expect in another year or so we should be able to stabilise everything,' Mr Mah said.

Resale prices for HDB flats rose for the eighth straight quarter, surging 4.1 per cent between April and June from the previous January to March period. The median cash over valuation (COV) - the cash amount paid upfront by a buyer over a flat's valuation - also hit a record $30,000 in the second quarter of this year.

To help relieve some of the pressure on the resale flat market, Mr Mah said HDB is building more flats, and assured that there was an ample supply for flats for first-time buyers. HDB has launched almost 9,000 new flats in the first half of the year, and it will launch another 7,200 in the second half to meet growing demand. Another 4,700 new flats under HDB's design, build and sell scheme (DBSS) and recently sold executive condo sites will also add to the supply. In the short-term, Mr Mah said it was hard to tell if prices would continue to rise.

[email protected]

4sg SG

Today Online
Shorter waiting time and larger supply of flats, says Mah Bow Tan
05:55 AM Aug 31, 2010
by Ong Dai Lin

SINGAPORE - Three years - already a higher standard than in other cities - was the benchmark to beat. Yesterday, National Development Minister Mah Bow Tan made a new commitment: First-time home buyers will get the keys to their flats in two-and-a-half years.

To get this done for projects launched from the middle of next year onwards, the Housing and Development Board (HDB) will streamline internal processes, for instance, by awarding the tender sooner and speeding up the Build-to-Order (BTO) selection exercises, Mr Mah said.

The shorter waiting period and a record number of units next year for executive condominiums and the Design, Build and Sell Scheme, in addition to BTO flats, were among the key announcements on housing policies set out by Mr Mah.

These moves, analysts said, would have the widest bearing on the current supply-and-demand imbalance in public housing that Mr Mah had previously described. HDB resale flat prices could fall from their current record high, they said.

Asked if the new housing measures were a response to ground sentiment that housing will be a hot topic in an upcoming election, Mr Mah said: "If you ask me whether it has got anything to do with the elections, the answer is yes. Everything has got to do with the elections."

The waiting period is being shortened even though the selection exercise for BTOs is a "very time consuming process". Mr Mah explained that the HDB would check on the eligibility of every applicant.

Demand will also be met through 4,000 DBSS flats and 4,000 ECs, to be located across the island, including in Tampines, Yishun and Jurong West. This is on top of the 22,000 BTO flats HDB will offer next year and the 16,000 BTO flats this year.

Calling the numbers substantial, Mr Mah gave this analogy: "In two years, we're going to build, if the demand is there, a new Toa Payoh."

Prime Minister Lee Hsien Loong had flagged off the changes at the National Day Rally on Sunday, when he said the income ceiling for DBSS flats would be increased to $10,000 from $8,000 for the "sandwiched" group.

Analysts told MediaCorp the upgrading dreams of homeowners would be restored to some extent. They noted that a consequence of a rising price market would be the dampening of Singaporeans' "upgrading aspirations", as an analyst put it.

Read the rest @ http://www.todayonline.com/Singapore...ys-Mah-Bow-Tan

Fire Cracker SG

all blame foreigner lah.

they come in make COV very high and then get the flat. we singaporean will be jobless and flatless.

Genie99a SG

all blame foreigner lah.

they come in make COV very high and then get the flat. we singaporean will be jobless and flatless.

Was it the PM that said Singaporeans are dumb but reliable? Or sumthing similar.

Jobless flatless nevermind lar.... so long reliable lol.

Kind Regards

Genie

Genie99a SG

A loan of $200,000 for 30 years at 4.5% interest, at the end of 30 years you would have paid $168,349 in interest.

True lar but also cannot like that say sometimes. With property... if you have the hindsight each year 100k++ capital gain is bery common. That's how I make $.

Kind Regards

Genie

angel7030 SG

Both....chicken and egg..... which came first?

Kind Regards

Genie

both dun come first, the cockerel come first.

charlize SG

http://theonlinecitizen.com/2010/09/hdb-flats-sporeans-come-first/

So sad.

One Singaporean trying to buy a HDB flat to stay in with his mum but is unable to.

Haiz.

βέτά SG

If you take out a $130,000 loan paying $500 a month, you would need at least 35 years to repay your loan.

angel7030 SG

if you cannot loan, rent lah, afterall, singapore peoples work long hours, house is just for sleeping and cook maggie mee, so why need to buy. In some fast pace city, people are renting and living in cages or tubes just to sleep, wait up, share a common toilet and go to work till around midnight.

On the contrary, taking a loan of $130,000, to pay for a 230,000 flat, in 10 years time, the flat would had gone up to $400,000++, sell it off, pay off all the loan, and you still get perhap a $100,000 profit, rent a room and live happily everafter, $100,000 leh, some people work until die also dun have...so, invest now!

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