HDB resale hits record high

[carbuncle]

from sbr

Prices of HDB resale flats reach a record high

That is on the back of a 19% increase in transaction volume in 2Q12.

Prices of HDB resale flats reached a record high in 2Q 2012 on the back of 19 per cent q-o-q increase in transaction volume. HDB resale transactions rose from 5,900 in 1Q 2012 to 7,000 in 2Q 2012, pushing resale price index up by 1.3 per cent, to 194.0.

Resale prices and transaction volume continued to rise despite an increased supply of 12,700 Build To Order (BTO) flats and another 3,800 Sale of Balance Flats released in 1H 2012. The sustained resale transaction volume reflects strong pent up demand for resale HDB flats from groups that do not qualified for BTO or require immediate occupation.

In addition, supply of resale flats remains tight until these new BTO flats are completed and eventually available in the secondary market after the 5-year Minimum Occupation Period.

[carbuncle]

really dunno what to say.

don't take care of your own backyard, go and kaypo other peoples (shoebox la, commercial la etc) front porches....

[august]

i have been saying since 2010 the cooling measures shld have targeted HDB resale mkt right from the start.

[bakasa2002]

i have been saying since 2010 the cooling measures shld have targeted HDB resale mkt right from the start.

It's not like they did not do anything after the GE but the mess created before the GE is much more massive than they expected.

[phantom_opera]

Last peak at 1997 HDB resale price index was 138, if you take this and X2 is only 276 after 15y.... now 194 only, so cheap ... for those who bought their HDBs in 1996/1997, capital appreciation sucks big time

Just as I predicted, HDB resale price index is gonna hit 250 in a few years time

Pinnacle@Duxton will be the next COV boosters ... the most powerful deadly weapon from the Empire to bring the index to all time peak

I have to keep asking myself, when index is near 250, to sell or not to sell to take profit ...

[Nman]

who still maintain his Hdb house? Next GE hdb price will down

[eng81157]

Last peak at 1997 HDB resale price index was 138, if you take this and X2 is only 276 after 15y.... now 194 only, so cheap ... for those who bought their HDBs in 1996/1997, capital appreciation sucks big time

Just as I predicted, HDB resale price index is gonna hit 250 in a few years time

Pinnacle@Duxton will be the next COV boosters ... the most powerful deadly weapon from the Empire to bring the index to all time peak

I have to keep asking myself, when index is near 250, to sell or not to sell to take profit ...

it's like an ugly Ponzi scheme. when land prices are pegged artificially at market rates, there is no way for HDB prices to spiral downwards, unless SLA, CPF, HDB, PAP, banks are dying to implode suicidally.

[phantom_opera]

Yes, Ponzi because the alternative is even worse:

Deputy Prime Minister Tharman Shanmugaratnam, giving a preview of the findings, said, however, that the CPF balances of older workers will be inadequate, although most of these individuals would have gained from the rise in the value of their homes, courtesy of government subsidies, earlier withdrawal of CPF savings and economic growth.
"Our strategy is to help them monetise the values of their homes in retirement if they wish to," said Mr Tharman, who is also Finance minister.

[carbuncle]

govt is increasingly singing the tune of monetizing your hdb flat in recent months post GE.

becoz they now then realised cpf will never be enough to feed your old age. !!!

other than shooting themselves in the foot, they have also created a different mindset among all citizens that home ownership is no longer about just having a roof over the head, but about buying an asset that can hold its value and be encashed at insane profit eventually to replace retirement income. how can the price not rise?

[phantom_opera]

It is sad but true ... many senior citizen surviving by renting out rooms in their 3r HDB flats

[carbuncle]

sell also good. rent out rooms also good. just don't be a fool to sell back to hdb for some puny annuity.

[radha08]

Assuming ur hdb fully paid...for an old couple sell ur hdb flat at 500k
Then buy hdb studio with 30 year lease for 100k..keep 100k
Cash for emergency and using 300k buy cpf life plan so u can
Get monthly cash income about 2k till you die...this is world
Class retirement plan...this is only basic plan. ..i u want
Enhanced plan u better start planning

[dtrax]

really dunno what to say.

don't take care of your own backyard, go and kaypo other peoples (shoebox la, commercial la etc) front porches....

I can only say: I SCREAM ICE-CREAM!

[Mr.Keh]

With the recent surge in Enbloc sales, many more "homeless" millionaires will be coming to the HDB resale market soon. We should see good support for resale prices since these people would not qualify for BTO.

[radha08]

With the recent surge in Enbloc sales, many more "homeless" millionaires will be coming to the HDB resale market soon. We should see good support for resale prices since these people would not qualify for BTO.

True...thats why now HDB is known "HUAT development board"..

[radha08]

Haiya HDB is only a part of the whole property syndicate...people make millions thru enbloc etc etc come and buy HDB spoil market cos they buy at record price but then what to do our minister say its ok no need worry you can buy bto...