Discussion : Singapore Property

[pet]

ya loh... one type of rice feed 100 diff type of ppl... hahhahaa

cannot make every1 happy...

for me....
it's public housing...if not controlled, future kanna social problem... cos some now might not be homeless, but alot of them squeeze into a 3rm etc...so current HDB policy ( whtever it is )... ... thot i am not into 1, but u see ppl complain .. chye chye leow... or u see MM warn against protest in regards to HDB policy, also chye chye leow... ... might not be a big issue, but it's a big issue to some... i jst look at it frm those bottom earner view

as for others, might be FT policy.. wow lau... tht i dont understand ...why singaporean complain against them.... really sound very racist, like MM said, they are human being, gv them a break...
to me alot of blanga or FT ppl complain abt = WP holder, which are low pay and very very low chance of becoming PR or citizen. these ppl are helping us to build our city... .. so we should gv them some respect.

[jazz_samz]

Honestly, property DID went up but places like HK, Beijing, shanghai, etc also went up. The question of "too late" is arguable. If property goes up a little and govt starts all measures then can we catch up with other markets? Don't forget that we are living a free world.

I believe that it doesn't matter if you bought high, it matters if your property can never sell high.....

Pardon me for not being more precise... I do refer to the measures for public housing.
I think its perfectly fine with pte housing prices to rise bcos that is not an area which addresses the maj population and social responsibility to the citizens.

However, I do agree with your comment "I believe that it doesn't matter if you bought high, it matters if your property can never sell high..... " which ultimately matters most.

Well, property prices for China infact appreciated sharply... does it mean its a good thing? NO! Should a country's inflation and basic expenses grow too sharply, there is no way for the general population to cope.... How many of the China citizens enjoy annual increment more or equal to the inflation or percentage of the property price increase. They are suffering and if you are in China to mingle with the middle class and below, they will tell you the same.... Should a country's economy grow too sharply, it may not be necessary be a good thing. Bcos their own citizen is unable to cope.
Catching up with other market should be secondary, after catering to the general population's ability, not for the sake of 'being up there with the big boys'....

My 2 cents worth only lah.... At the end of the day, how this affects me? Totally irrelevant. But it is my personal perspective for the average Singaporean...

[116520]

I totally agree with pet and jazz's comments. Public housing is very important to the lower income group of sg. However, I think they shouldn't be complaining too much now. For people who has purchased HDB a few years ago and if they are permitted to sell now, I am sure they can earn big bucks. For those who haven't purchase any, too bad. I feel that they shouldn't complain about the increase in price, can't afford lah, things like that.... if some ppl can afford it, why can't they afford it??? Blame it on the govt, blame it on the FT, why don't they look at themselves? See how to improve themselves, upgrade themselves, in order to increase their income level to match current standard of living.

pet, you mentioned about how small the new hdb are built these days and many ppl living in 3-room. If you talk to our MM, ppl in the 50s, 60s, the living conditions were far worse than now. Houses in sg is so much more bigger than houses in places like hk, jp, etc... I think ppl these dayz complains too much. But looking at it, with those complaints then we can realise we are making mistakes and life get better..... just my 2 cents.... hope not to offend anyone.... cheers!

[jamhoe2]

don understand why there are so many people complaining houses pricing high. the fact is that a large % of singaporeans make $$ through selling houses either thru HDB or private.
i am sure u ask ur parent, surely most of them or even all of them made quite a fair bit for selling their old house.
i am sure whoever buy at so-call "HIGH PRICE'' now will eventually make $$ a few years later, if not blame it on your own 'kiasuness' or lack of foresight to invest.
life is like this...you win some, you lose some....
at lease we are a group of fortunate ppl who can collect watches and most even drives nice cars.

[116520]

I support you jamhoe...

Buying a house in sg is just like buying 116520. Buy at a premium. Some bought it at $15k, some at $16k, some at $17k... no matter at which level, I believe that in long term, if you sell it later in your life, I am sure you will cover the cost or even make $ from it.

Buying a house in other countries is like buying some fancy LSP. Buy at a discount. After some time when you want to sell, sell cheap cheap also nobody wants....

don understand why there are so many people complaining houses pricing high. the fact is that a large % of singaporeans make $$ through selling houses either thru HDB or private.
i am sure u ask ur parent, surely most of them or even all of them made quite a fair bit for selling their old house.
i am sure whoever buy at so-call "HIGH PRICE'' now will eventually make $$ a few years later, if not blame it on your own 'kiasuness' or lack of foresight to invest.
life is like this...you win some, you lose some....
at lease we are a group of fortunate ppl who can collect watches and most even drives nice cars.

[jazz_samz]

Buying a house in other countries is like buying some fancy LSP. Buy at a discount. After some time when you want to sell, sell cheap cheap also nobody wants....

hahha. I like this comparison.

[sandisk7]

Just my 2 cents…

Many are masked by the govt’s promise of asset enhancement. True, you make a little profit by selling what you bought many years ago, but a similar replacement is often even more costly. What’s the point if it means moving to the suburbs for that money? So unless you bought many units many years ago, you are not going to benefit from the asset appreciation. And how many common people is able to do it?

Tell me, would you rather purchase a $500k condo, pay off easily and then start accumulating your wealth (CPF, cash) or would you prefer to pay $1m for that same condo which will take more than twice the effort to own?

Someone mentioned “I believe that it doesn't matter if you bought high, it matters if your property can never sell high.....” I certainly agree with the statement but the main driver of the price appreciation “should” comes from the population growth and inflation if it is to be sustainable in the long run. The fact that many bought multiple properties with a view to make money points to a more speculative situation instead as the real source (first time buyers) seems to be priced out.

PM already noted that Singaporeans are not reproducing enough, how is the price increase going to be sustainable in the long run? Govt has been “artificially” generating population growth through influx of FTs, but these FTs would return home if Singapore loses its competitive edge and we do not have a lot of bargaining power left since our tax structure is already one of the lowest in the world. We even have to resort to the IRs which was unthinkable a decade back.

Lastly, property prices affect everything – it directly affects the cost of doing businesses (rents form a major portion) as therefore the cost of living. I am fine with the price increase so long that the appreciation is in-line with salary increase/general inflation.

[Haolian King]

Singapore is indeed a competitive and relatively stressful place to live in. I think everyone agrees. Say for a 5rm hdb in Clementi costs abt S$500k now, but I can buy 2 units of 3-storeys terrace house i KL, M'sia, prob a palace in India. Same goes for things like food and necessities.

However, we were born here and we have to live with it. The only thing we can do is to crack our brains to make more money, or alternatively choose to migrate to other parts of the world. It is useless to complain too much as most policies won't change even if you complain non stop.

Btw I still still with my mum in her hdb flat with my wife. We wanted to buy a house (Condo or hdb) for 3 years now but cannot seems to find one. Not eligible for brand new hdb, condo too overpriced, resale hdb not worth buying with the current pricing. How?

[116520]

Sorry for being a kpo, may I know why you are not eligible for new hdb since you are married??

Singapore is indeed a competitive and relatively stressful place to live in. I think everyone agrees. Say for a 5rm hdb in Clementi costs abt S$500k now, but I can buy 2 units of 3-storeys terrace house i KL, M'sia, prob a palace in India. Same goes for things like food and necessities.

However, we were born here and we have to live with it. The only thing we can do is to crack our brains to make more money, or alternatively choose to migrate to other parts of the world. It is useless to complain too much as most policies won't change even if you complain non stop.

Btw I still still with my mum in her hdb flat with my wife. We wanted to buy a house (Condo or hdb) for 3 years now but cannot seems to find one. Not eligible for brand new hdb, condo too overpriced, resale hdb not worth buying with the current pricing. How?

[Haolian King]

Sorry for being a kpo, may I know why you are not eligible for new hdb since you are married??

Not eligible cos combined income over ceiling.

[116520]

sorry... I didn't know got such rule... I thought only if you have bought an apt and you are not eligible. I always thought ALL Singaporeans can apply for new hdb once you got married...

btw, since your combined income over ceiling then no problem buying condo lah....

Not eligible cos combined income over ceiling.

[jamhoe2]

Not eligible cos combined income over ceiling.

Heehee tats a gd one.... Cannot afford to buy HDB cos combine income over the ceiling.
If tis is the case then both ur CPF should be adequate to buy a resale HDB flat. U can also buy hse with low cash over valuation if u r nt too picky over location.
Anyway all the best In the hunt of ur new home.

[Haolian King]

sorry... I didn't know got such rule... I thought only if you have bought an apt and you are not eligible. I always thought ALL Singaporeans can apply for new hdb once you got married...

btw, since your combined income over ceiling then no problem buying condo lah....

You cannot buy a new hdb if;
1. Combined income over S$8k (S$10k for EC)
2. 30 months if you sold a private property.

Heehee tats a gd one.... Cannot afford to buy HDB cos combine income over the ceiling.
If tis is the case then both ur CPF should be adequate to buy a resale HDB flat. U can also buy hse with low cash over valuation if u r nt too picky over location.
Anyway all the best In the hunt of ur new home.

Thanks bro.

But bro, the question now is not cannot afford to buy hdb, but a matter of whether we can get over having to pay high price for a resale hdb. New hdb is generally better priced but we not qualified. Buy condo can only afford 1 Rm, how to have kids?

[116520]

I will just assume your combined salary is $8k+ (since you mentioned that) and if you don't own a car or buy many rolex watches every month, I think you can look at those (not new one) 99-yr apts in suburban areas, I think you still can get 2 or even 3 rooms apt (depends on location and facing).

Also the there is no correlation between of number of rooms you have vs. number of kids you can have. I have friends staying in big house with 10 rooms but have no kids and I have friends staying in 2 room but having 4 kids....

But bro, the question now is not cannot afford to buy hdb, but a matter of whether we can get over having to pay high price for a resale hdb. New hdb is generally better priced but we not qualified. Buy condo can only afford 1 Rm, how to have kids?

[exxondus]

I will just assume your combined salary is $8k+ (since you mentioned that) and if you don't own a car or buy many rolex watches every month, I think you can look at those (not new one) 99-yr apts in suburban areas, I think you still can get 2 or even 3 rooms apt (depends on location and facing).

Also the there is no correlation between of number of rooms you have vs. number of kids you can have. I have friends staying in big house with 10 rooms but have no kids and I have friends staying in 2 room but having 4 kids....

Hao Lian King can only buy resale due to his combined income. Hence, def not new ones even at suburban areas.

and he cant get grant as well I think. Not sure about HDB loan tho. In govt eyes, he is considered v v rich le (of cos, they don look at their own minister's pay as comparison lah.)