Senior
Ultimate Underdog
Feel very sad watching this video.
Luckily we have HDB where Govt "pays" to have you buy a property.
Kudos to Govt for helping to prevent property bubble.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Senior
Was in London this summer via the euro tunnel, find the place got lot of people and the MRT above ground and near to the building.
Junior
Cheap property also equate t cheap rental
Junior
I must say Singapore properties are value for money or under valued : )
Senior
Those who stay in the major city should know where the value is. Singapore is not just a city, it a country with citizen army.Originally Posted by Allthepies
Here once in a while
To be fair, e majority of the properties are still owned by Singaporeans. Just whether it is a hdb, condo or landed housing. Hong kongers and Londoners continue to envy singapore.
Just Do It! 要拼才会赢！
Senior
Singapore property is so...... well regulated, waiting for Durian to drop very heart breaking.
Junior
And when the durian drops, the banks will not lend the $$$ due to TDSR and other considerations.
Newbie
Today Hong Kong just release small qtys new Public housing for sales ( no new public house for sales since 2002 ), more than S$1000 sqft and the largest size is 531 sqft, so yes, Spore property is reasonably cheap and better.
Senior
So far Singapore property price is seeking the “meaningful correction” level relative to GDP growth, salary, inflation etc and have not drop or crash.
When it drop or crash any $$$ due to TDSR and other considerations will not bring the price up.
http://www.straitstimes.com/news/bus...-easing-201412
Newbie
I prefer call Singapore property is not cheap but value for money
Amber
If we are comparing property prices across the world, we have to base on our private property prices and not prices of subsided HDB flats. Current BTO flat prices are affordable but not cheap relative to income.
Current private property price is very high as compared with other major cities around the would. We must not confuse people by using different yardsticks.
Newbie
Major cities or best cities in the World, Spore private property is still cheapest right at the bottom one or two, London, NY, Hong Kong, Shanghai etc, there are more expensive than Spore at this point of time, if is not best cities than why compare ? not to mentioned about yardstick.
Amber
According to CNBC report dated 5 Mar 2014, Singapore is 3rd most epensive after London and NY.
http://www.cnbc.com/id/101468652#.
2013 2014 2024
1 London London New York
2 New York New York London
3 Singapore Singapore Hong Kong
4 Hong Kong Hongkong Singapore
5 Geneva Geneva Shanghai
6 Shanghai Shanghai Beijing
7 Dubai Miami Dubai
8 Miami Dubai Miami
9 Paris Beijing Geneva
10 Beijing Paris Mumbai
Newbie
Haha... 3rd March 14, so dated, why not 2011 or 12 ? this is the latest this month 10th Dec 14 from CBRE la..
London has overtaken Hong Kong as the world's most expensive city to buy property, according to a global survey.
The average price for new homes in Hong Kong stands at US$3,290 (HK$25,662) per square foot while in London, it is US$3,380 per square foot, according to the survey by international property consultant CBRE. New York ranks third, with the average price at US$3,040.
Singapore ranked no.6 out of the top 8 ( above Spore still hv Sydney and Paris ). These are all the best world cities to compare, if you think Spore can be more expensive than Hong Kong and London or New York, think again la.
Amber
Thanks for the update. The big picture is Singapore's real estate is not cheap. It is always in the top ten list most expensive cities to own real estate.
The Thread Starter was trying to compare HDB prices to that of other major cities properties which was misleading.
Global recession is coming....
HDB flats are also properties in Singapore, which is itself a big city, comparable lah!
So fact is, there is really cheap properties in Singapore!
Why people complain properties in Singapore expensive?
Because they want private properties that are just beside MRT station, beside shopping malls, come with facilities and better quality and better security etc.
However, they have to take a mirror and look at themselves, whether they have worked hard to earn those money to afford such a private property!
Everywhere in the world is the same, there are always many many people who can't afford the same high quality property! So don't be "red eye", don't be sour grape.......................
Ultimate Underdog
Cheap or not really depends on who our points of reference are. It's highly complicated as real estate dynamics are.
HDBs can be cheap and affordable for mass of SG workers earning below 5k, but is very costly to their peers in the Southeast Asian region.
To the higher income earners say earning above 10k and intending to buy private, they may be competing with the world investors. As such prices may be jacked up to frantic levels and yet, people compare with other large cities and say it's cheap and affordable. But if you take the median income of the local SG and compare it to the prices of private properties, it's extremely costly.
So depends on who you ask. Then there is the question of whether you are referring to CCR, RCR and OCR. The discussion never ends.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
some rent HDB, buy HDB, EC, private of $ 1000 sqft, $2000 or $4000, so as GCB, but individual preference or need cannot make the called, the market experts hv guide on the pricing, apple to apple comparison, and yes, Spore property now is cheap in comparison to London or HK and Sporeans are better well taken care of, only if one know what is going on in HK or London. no need to ding dong, if Spore property now is cheap then cheap it is, no need kindergarten talk, comparing HDB, OCR, Pakistan and Bangladesh blah blah blah.
Ultimate Underdog
We cannot delink absolute world standards of property price assessments with relative local standards of incomes supporting these prices can we?
If we can or should then no need coming measures already. Let it bubble.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Ultimate Underdog
When we compare a city state like SG with other cities, we need to bear in mind that we do not have hinterland for less well to do to retreat or retire too.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
Ya, what's the World ranking for ? throw it all away better of, no best airport, best university, best cities, best airline, you can dwell in your coffee shop talk, but the world wl not stop for you, take all your denial you want, but to me, these ranking give me a better insight of what is going with the world and of course i know better what is going on in Spore for that matter.
And yes, bcause of the measure that why we are cheap, for apple comparison, cheap is what we all talking about here. Apple not Bangladesh !
Global recession is coming....
[1] HDB is cheap to >90% Singaporeans, that is enough, because if you say HDB flats are costly to their peers in the SEA region, then you have to ask whether the Singaporeans are earning their peers salary in SEA region? If not, then why relate to being costly to their peers in SEA region? Doesn't make sense at all.
[2] What pay is considered high income earners? $10k per month is really not high income now in Singapore. Compete with world investors? If they can't afford private properties, they can always live in HDB flats! Is not that there is no alternative. Private property is a WANT, not a need! Rather, it is govt's job to ensure that Singaporeans do not have to compete with foreigners (like P.R.s) to buy HDB flats, including resale HDB flats! May be you want to complain to them why they still haven't protect Singaporeans from foreigners all over the world from buying resale HDB flats?
[3] If you want cheap, obviously you must be talking about OCR. Nobody is going to complain that those earning $10k per month cannot afford CCR penthouses or bungalows right? We have to be realistic about what is WANT and what is NEED.
Ultimate Underdog
1. World ranking crunches everything to a number. May be useful reference but nothing is context independent. This is related to Teddybear point 1 - everything is relative. Why compare to our neighbours? Because or neighbors can't afford to buy and most do not qualify for citizenship. That's why there is rental support and demand, which supports the price. If we ignore our neighbors salary in computing affordability, why should we take reference from the income of the top earners worldwide? Do Singaporeans earn those salary as well?
2. I think HDB is still affordable with some options for most.
3. I do think OCR is still affordable to many in the target group for the govt, but calling it cheap is a different matter.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
Obviously you are a coffee shop talker, just noise, no ground, ding dong in most of your topics talked. And no, today Spore is cheap and it's getting cheaper, even cheaper than Paris, NY and Sydney, let alone London and Hong Kong, no one can ignore the fact amidst of Spore current cooling measure our price hv contracted more than 6.6% this year and while some cities are still having double digits up swing. This is straight forward fact not ding dong theory.
Unfocused, confused and clouded mind are typical coffee shop talk, always full of left right, up down and ding dong, Allodoxaphobia and Decidophobia syndrome I reckon.
Ultimate Underdog
No need to resort to name calling and degrading comments.
Just pointing out the difference in opinions if you survey Singaporeans versus worldwide investors.
CCR has dropped more than the % you stated. It's cheap but not affordable for most locals.
OCR is still affordable for most but not regarded as cheap due to the run up from 2009.
Why the discrepancy? TDSR is a rather unique solution not implemented in most of the other cities mentioned as far as I am aware.
Best of luck in your leveraging ventures. If you think it's cheap do go and get more.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Senior
There was two island in the big big ocean.
One day Island A print lot of money thus the land price become more expensive, People from A start to sell and buy and soon some have lots of money and went over to Island B to buy their land.
Island B notice and also print their own money, lot of money.
Those who own land become rich, those who don't, don't understand why.
The world have change, money is created by the Bank. You don't need to have Gold to create money, Gold is a commodity.
Global recession is coming....
You like it or not, the cooling measures policies ARE A FAILURE (for crashing CCR prices but allowing OCR prices to hold very stable)!!!!! Simple as that!
Newbie
Not calling name but it's a syndrome and title suit to the particular group of gathers, nothing wrong with it.
why just CCR, OCR, Locals, HDB but not border perspective, the world is spinning and hv their own accord so as this matter : SINGAPORE PROPERTY IS CHEAP, again if one know what is going on with the World.
What is CHEAP ? "A" brought $400k three room Clementi HDB ? "B" brought $3.6m Carinhill condo ? "C" brought $ 7.5m Marina Sail condo ? "D" brought $15m Paterson condo or "E" brought $35m Holland GCB ?
HK resales public housing transacted @S$2302 sqft and the highest for private housing is S$28 000 sqft compare to our highest around S$4200 and do you know what are the prices today in London, Sidney and Shanghai ? maybe not ?
And if you think our income are lower than HK, Paris and Sydney ? think again ! do you know what is the poverty level in HK or Paris or Spore ? do you know what is our GDP against them ?
If you want to reply, pls do mainstream discussion not coffee shop ding dong, Thank you.
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