Singaporeans spend half of their lives paying off condo loan

[hyenergix]

It's 36.4 years on average - longest period in the world...


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全球工薪族买房：新加坡需36.4年时间最漫长

2010年07月13日 11:29财华网 (http://www.caihuanet.com/finetnews/201007/t20100713_1894847.shtml)【大 (javascript:zoomDoc(16);) 中 (javascript:zoomDoc(14);) 小 (javascript:zoomDoc(12);)】 【打印 (http://forums.condosingapore.com/#)】 共有评论1条 (javascript:void(0);)
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据外电报道，俄罗斯一家国际房地产咨询公司最新公布的研究报告显示，全球36个城市 (http://car.auto.ifeng.com/series/2036)的工薪阶层当“房奴”的时间存在很大不同。以用工资购买一套70平方米的公寓 (http://house.ifeng.com/loupan/gongyu/list_0/0.shtml)为标准，柏林人付清全部房款的时间最短，平均只有3年，而新加坡人所需时间最长，是柏林人的12倍。

戈登洛克公司媒体部负责人表示，此项研究的数据来源于该公司设在各地的房产代理商提供的当地房价和人均收入，研究共进行了3个月时间。研究者们以购买一处地处城郊住宅区、面积为70平方米公寓的平均售价为标准，研究选择的年收入数据也是多国大城市的中层收入水平居民的平均年收入。该负责人表示，公司此举是为了真实了解世界各大城市居民的住房开支情况，把住房开支与工作收入挂钩，用工作年限来衡量住房价格。

根据戈登洛克公司的统计，柏林市民只需连续工作3年，用攒下的工资就可以购买一套标准住房。柏林人如此迅速地就能攒够钱买房，主要是由于柏林的房价与其他欧洲大城市相比实在是便宜，当地普通住房的售价每平方米大约只有1000美元 (http://app.finance.ifeng.com/hq/rmb/quote.php?symbol=USD)，而大部分欧洲国家首都的房价远远高出这个价。欧洲其他首都城市的居民购买一套标准住房攒钱的时间都比柏林居民长，稍微接近的赫尔辛基、维也纳等城市也都高出柏林一倍以上，大部分欧洲大城市的居民购买一套标准住房仍需连续工作10到14年。

在戈登洛克公司调查的部分亚洲城市中，泰国曼谷人攒钱买房的时间最短，只需不到7年，尽管曼谷居民的工资很低，但当地的普通房价也相当便宜，每平方米只有500多美元。日本东京的房价仅次于瑞士苏黎世，每平方米高达7000美元，所以年收入可观的东京人也需要攒近16年时间的工资才能负担一套普通住房中国香港和韩国首尔的居民买房的时间则更长一些，需要约20年。

相比之下，新加坡人当“房奴”的时间则最漫长，与其他城市相比，房价高，收入却不高，造成新加坡人至少需要攒36.4年的工资才能买一套房子。位于大洋洲的悉尼房价也较高，约6000美元一平米，因此当地居民攒钱买房的时间也不短，需要16.3年。



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[kingkong1984]

But most get rewarded for having a bigger debt. Singapore most rewarding?

How about HDB's?

[sh]

Does the report include the repayment period of HDB units?

Looking at the report, it data is gathered from "房产代理商" of a "70平方米" unit in "城郊".

70sqm is 3rm HDB flat right? need 36.4yrs to repay OCR 3rm flat meh?:confused:

Not fair to use average income to calculate repayment tenure for private prpoerties which only 20% of population stay in....

[hyenergix]

It's referring to condos. But it still applies to the middle class base on a simplistic estimation:

Assume a couple earning >$10k buys a 2-bedroom $800k condo because they are barred from buying HDB/DBSS/EC, and using interest rate of 3% over 35 years and $0 downpayment:

Monthly instalment: $3100
Monthly property tax: $100
Total monthly they have to pay $3.2k, which is about the recommended level by financial planner based on $10k gross income.

[amk]

Bro, no offense, re this " article", u 1st time reading Chinese "news" ? ;)

[sh]

ah! another abnormality in singapore. The average singaporean doesn't not stay in a private flat. An average singaporean stays in a HDB flat.:beats-me-man:

The survey does not take the abnormality into consideration. If the survey is based on the no of years a household with average income, takes to repay a high end apt (one which the top 20% of households stays), that would be fair. That's what the survey is measuring in S'pore's case.

[Regulators]

Those average income people buying 600-8xxk hdb flats must be the dumbest lot, spending half their lives paying for hdb property
ah! another abnormality in singapore. The average singaporean doesn't not stay in a private flat. An average singaporean stays in a HDB flat.:beats-me-man:

The survey does not take the abnormality into consideration. If the survey is based on the no of years a household with average income, takes to repay a high end apt (one which the top 20% of households stays), that would be fair. That's what the survey is measuring in S'pore's case.

[hyenergix]

I think it's okay as you live only once. Living in a condo is many Singaporean's dream. But it comes at a great cost...

[Regulators]

Some hdbs more expensive than condo and buyers pay so much without any private facilities to enjoy, what a strange lot
I think it's okay as you live only once. Living in a condo is many Singaporean's dream. But it comes at a great cost...

[rattydrama]

Its also about cap appreciation. If rented out, someone is paying for you. Its one of the fastest in this part of asian and there is still room for the psf price to move further.

so 34 years or 100 years is not important, can just down grade to HDB, move overseas or even pass down to yr children.

[Regulators]

My mother's 30 yr old 5 rm flat at buona vista area can sell for more than 700k, how many more generations can it go and even if thee is en bloc, doesn't benefit owners at all, so what can you say about people who buy my mothers flay?
Its also about cap appreciation. If rented out, someone is paying for you. Its one of the fastest in this part of asian and there is still room for the psf price to move further.

so 34 years or 100 years is not important, can just down grade to HDB, move overseas or even pass down to yr children.

[rattydrama]

My mother's 30 yr old 5 rm flat at buona vista area can sell for more than 700k, how many more generations can it go and even if thee is en bloc, doesn't benefit owners at all, so what can you say about people who buy my mothers flay?

Buying for locations and future sers program.
Its about location. Not too long ago in 2009 someone here bought HDB 5room flat for 500k plus in Holland Village #05 level, I think can easily fetch 700k. That is today’s market price.

[rattydrama]

how many can pay off 350k full cash 20 years ago? In today's market I am very sure there are many, at least for the 20% population who are currently staying in private apartment right now.

That calls for 700k HDB lor.

[Regulators]

If a joker comes along and buys a flat at 7xxk to 800k just before sers, I don't see how the person would get to benefit much as a new flat would be cheaper than his original purchase price
Buying for locations and future sers program.
Its about location. Not too long ago in 2009 someone here bought HDB 5room flat for 500k plus in Holland Village #05 level, I think can easily fetch 700k. That is today’s market price.

[rattydrama]

If a joker comes along and buys a flat at 7xxk to 800k just before sers, I don't see how the person would get to benefit much as a new flat would be cheaper than his original purchase price

agreed. I think more for long term not short term. HDB buyers' mentality is different.

[sh]

Those average income people buying 600-8xxk hdb flats must be the dumbest lot, spending half their lives paying for hdb property

Cant say that they are dumb yet.... only time can tell.

Maybe years from now, the 600k HDB become 1mil. Their kids grow up, they downgrade to 3rm flat, pocketing the difference. Not a bad way to retire.....:)

[Regulators]

the 4 room hdb flat that was transacted recently at 628k in bukit batok central, I don't see how it will ever go up to 1mil even 10 years from now.
Cant say that they are dumb yet.... only time can tell.

Maybe years from now, the 600k HDB become 1mil. Their kids grow up, they downgrade to 3rm flat, pocketing the difference. Not a bad way to retire.....:)

[sh]

the 4 room hdb flat that was transacted recently at 628k in bukit batok central, I don't see how it will ever go up to 1mil even 10 years from now.

ok... I see your point. Must be something damn nice about that flat.... Bukit Batok somemore.....

But you never know. Property prices are known to have doubled over 10 yrs, sometimes even less.

[azeoprop]

But some hdb flats do have that million dollar view that many will die for.... :rolleyes:

Some pics taken from the 40th floor of The Great Wall of Toa Payoh.

[azeoprop]

View from top floor of blk813, Lavender Gardens. :)

[devilplate]

But some hdb flats do have that million dollar view that many will die for.... :rolleyes:

Some pics taken from the 40th floor of The Great Wall of Toa Payoh.

er...not nice ....

[Regulators]

Very nice, pictures from your unit?
But some hdb flats do have that million dollar view that many will die for.... :rolleyes:

Some pics taken from the 40th floor of The Great Wall of Toa Payoh.

[sh]

wah. your standard very high. :(

Anything that is unblocked is considered "nice"... :)

[devilplate]

wah. your standard very high. :(

Anything that is unblocked is considered "nice"... :)

er...i mean the view alone doesnt worth a million lor....

so far...Sail's bayview, sentosa seaview and greenary view at raintree worth a million....mabe can squeeze in the view at concourse skyline as well:2cents:

[Regulators]

nice based on that estate, can't expect tpy to have sea view or bukit timah view, right?
wah. your standard very high. :(

Anything that is unblocked is considered "nice"... :)

[azeoprop]

How about view from the iconic round tower of AMK? :)

[sh]

you go around collecting "views"?

Personally, I prefer city views. More things to look at. Seaviews - big patch of blue... quite boring....

[devilplate]

How about view from the iconic round tower of AMK? :)

much nicer....i like nature views:D

NZ/aussie plenty though....they see till sian...LOL

[kingkong1984]

Great views.

Same space within, different common space only. Half price and full price...

[wind30]

frankly, I think most singapore view is not pretty.

what is so scenic about blocks of flats?? singapore got no mountain.... even the sea is dirty green in color....

[reuters]

you go around collecting "views"?

Personally, I prefer city views. More things to look at. Seaviews - big patch of blue... quite boring....

You are right! Our sea is just full of tankers anyway... rather gloomy look. Sometimes the city view is nicer, especially at night with all the lights littered all around.

[kingkong1984]

frankly, I think most singapore view is not pretty.

what is so scenic about blocks of flats?? singapore got no mountain.... even the sea is dirty green in color....

Singapore mah, best views are what? Unblock lor... What else u want?

We only have man made wonders really...

[azeoprop]

Yah, I think it is a better option to have an affordable home within a convenient location for daily needs. Use that extra savings for travels, enrichments and enjoy life.

Don't work ur life away just to pay off bank loans for your multi million dollar jail cell in a concrete jungle. :rolleyes:

[Regulators]

In US, units facing famous bridges are prized, our most famous bridge is the causeway but I hardly hear people wanting to buy a unit with causeway view :D
Singapore mah, best views are what? Unblock lor... What else u want?

We only have man made wonders really...

[CCR]

Actually buying in a good location and freehold, you will never go wrong, the capital appreciation will more than cover your additional costs plus u get to stay in a good area, convenient and leave something for your kids...

[rattydrama]

http://upload.wikimedia.org/wikipedia/commons/8/88/RepublicPolytechnic-reflectingpool-20061129.jpg

what about this view? this view is from HDB flat wor.

[rattydrama]

the 4 room hdb flat that was transacted recently at 628k in bukit batok central, I don't see how it will ever go up to 1mil even 10 years from now.

the upside is limited but it is not impossible. my experience is only managed to earn back the interest after 10 years. If the buyer buy to rent, then I think the decision point for rental yield should be fine.

Bt Batok central is a good location imo. It has all the things u need and is near the town & JLD. it is also near the main MRT line. the town itself is not crowded as not many residents from other estate will purposely visit this estate and make the place more crowded.

[azeoprop]

Erm... I thought this is the reflecting pool of Republic Poly in woodlands? :beats-me-man:

[tericia]

the 4 room hdb flat that was transacted recently at 628k in bukit batok central, I don't see how it will ever go up to 1mil even 10 years from now.

actually, i read something from Robert Kiyosaki that is worth considering.

30 years ago, our parents say: wah... $30000 for a flat. So expensive. Who will be so stupid to pay that kind of money.

Then 30 years later we look back....

But today, they sell at $700000.

So today, we may say: wah.... $700000 for a flat. So expensive. Who will be so stupid to pay that kind of money.

Although i do understand that Robert's point is a bit simplistic. But usually when i tell myself prices are too high now, i look at it in perspective cuz 30 years from today, i will only regret never buy when i could.

So far, everytime i think back, i also say haiz, so stupid, got chance to buy never buy. Now i'll be laughing all the way to the bank.

For this reason, i tend to take a step back and be a bit more neutral about the high prices now.

[kingkong1984]

How high is high? Use new hdb flats pricing... At most pay 50% more for resale.

Ideally 25% more.... For same districts. u only have a bite of the cherry once, thereafter, hold the stem.

[hyenergix]

actually, i read something from Robert Kiyosaki that is worth considering.

30 years ago, our parents say: wah... $30000 for a flat. So expensive. Who will be so stupid to pay that kind of money.

Then 30 years later we look back....

But today, they sell at $700000.

So today, we may say: wah.... $700000 for a flat. So expensive. Who will be so stupid to pay that kind of money.

Although i do understand that Robert's point is a bit simplistic. But usually when i tell myself prices are too high now, i look at it in perspective cuz 30 years from today, i will only regret never buy when i could.

So far, everytime i think back, i also say haiz, so stupid, got chance to buy never buy. Now i'll be laughing all the way to the bank.

For this reason, i tend to take a step back and be a bit more neutral about the high prices now.

HDB price will continue to go up gradually only. Those days of >100% price increase within a few years are gone. The salary growth cannot catch up, and in fact it is reaching the peak of affordability for an average family.

[azeoprop]

Actually there are affordable HDB around....in unpopular location and poorer facing. Just that everybody want MRT at door step, want unblocked and want shopping mall beside it, no west sun.... yet complain expensive....:tsk-tsk:

[thomastansb]

Well, some Singaporeans are cheapo like dirt. They simply don't understand with your criteria stated, that unit is a good unit. And many people go for good units which shrink the supply and increases the demand. HDB 4 bedroom only like 250k. Seriously, what are they complaining? Let's say downpayment 50k, one month less than $500 for each person. This is not affordable? I think a begger can get more than $500 in a month, least to say those educated people who keep writing in to their MP.






Actually there are affordable HDB around....in unpopular location and poorer facing. Just that everybody want MRT at door step, want unblocked and want shopping mall beside it, no west sun.... yet complain expensive....:tsk-tsk:

[vboy]

Does the report include the repayment period of HDB units?

Looking at the report, it data is gathered from "房产代理商" of a "70平方米" unit in "城郊".

70sqm is 3rm HDB flat right? need 36.4yrs to repay OCR 3rm flat meh?:confused:

Not fair to use average income to calculate repayment tenure for private prpoerties which only 20% of population stay in....


agreed
they should be using the average income of the top 20% instead of the whole population?

as presumably only the top 20% will buy a private property if they can afford it (simplistic but logical assumption)

[thomastansb]

That is why such reports are biased and complete nonsense. Either they are stupid or have personal agenda. Might as well take the bottom of 5% of income group vs Ardmore park. Then title will read "Singapore properties are insanely expensive and unaffordable". Or take top 10% vs 4 bedroom hdb and title will read "Singapore properties are undervalue. Takes 2 months of salary to buy a big house"





agreed
they should be using the average income of the top 20% instead of the whole population?

as presumably only the top 20% will buy a private property if they can afford it (simplistic but logical assumption)

[Wild Falcon]

99LH HDB is better than 99LH condos. 99LH HDB is almost like freehold with the SERS program. Whereas 99LH private condo/landed will see their lease depreciate and for those built to max plot ratio, may never see light at the end of the tunnel.


Buying for locations and future sers program.
Its about location. Not too long ago in 2009 someone here bought HDB 5room flat for 500k plus in Holland Village #05 level, I think can easily fetch 700k. That is today’s market price.

[Regulators]

Take a 30 yr old 5 rm flat in dover or queenstwn transacted at 7xxk or 800k, do you think 30 yr later when the flat is 60 yr old with 30 yr left on the lease can be sold at 1 mil? That can only happen if our currency is greatly inflated
actually, i read something from Robert Kiyosaki that is worth considering.

30 years ago, our parents say: wah... $30000 for a flat. So expensive. Who will be so stupid to pay that kind of money.

Then 30 years later we look back....

But today, they sell at $700000.

So today, we may say: wah.... $700000 for a flat. So expensive. Who will be so stupid to pay that kind of money.

Although i do understand that Robert's point is a bit simplistic. But usually when i tell myself prices are too high now, i look at it in perspective cuz 30 years from today, i will only regret never buy when i could.

So far, everytime i think back, i also say haiz, so stupid, got chance to buy never buy. Now i'll be laughing all the way to the bank.

For this reason, i tend to take a step back and be a bit more neutral about the high prices now.

[Laguna]

Take a 30 yr old 5 rm flat in dover or queenstwn transacted at 7xxk or 800k, do you think 30 yr later when the flat is 60 yr old with 30 yr left on the lease can be sold at 1 mil? That can only happen if our currency is greatly inflated

This will not happen as these properties will be SERed

[teddybear]

For employed households, or households with at least one working person, median monthly income from work increased by 2.8 per cent in real terms to S$5,700.

Assuming S$5700 pm, and adding another 15% from employers' CPF, that is $6555 pm. Use 35% to pay loan means can use S$2294 pm.

For 30 years loan at 3.0% (assume average over 30 years), they can afford $720k loan!

So, 50% of the households in Singapore can afford $720k loan or a property of $900k value (assume 80% loan)!

But if you look at the HDB property prices bought by 80% of Singaporeans, they are mostly <$500k! Even super good locations eg Bukit Merah 5rm only $700k!

So, I agree that Singaporeans now want cheap and good properties (good location, convenient, near amenities, good view etc but want to pay only price just like 20 years ago!) :doh:


--------------------------------------
Households' median monthly income rises
By Mustafa Shafawi | Posted: 14 February 2011 1129 hrs



SINGAPORE: The Department of Statistics (DOS) said the median monthly income from work among resident households increased by 3.1 per cent last year, recovering to a level higher than before the economic downturn in 2009.

It rose S$150 dollars to $5,000.

DOS said in real terms, the increase was 0.3 per cent.

For employed households, or households with at least one working person, median monthly income from work increased by 2.8 per cent in real terms to S$5,700.

The department said growth in median monthly household income from work among employed households was higher in smaller housing types than those in bigger housing types.

In real terms, median monthly household income from work increased by 7.0 per cent for those in HDB one- and two-room flats, 3.6 per cent for those in HDB three-room flats, 2.4 per cent for those in HDB four-room or larger flats and 0.2 per cent for those in private properties.

This is due to the various government schemes which gave a larger boost to those staying in smaller housing types.

Resident households in HDB one- and two-room flats received an average of S$2,650 per household member while resident households in HDB three-room flats received an average of S$1,480 per household member.

This was higher than the S$530 per household member for households in private properties.

Among employed households, the average monthly household income from work per household member increased by more than three per cent in real terms for all income groups.

-CNA/wk

[fclim]

Yah, I think it is a better option to have an affordable home within a convenient location for daily needs. Use that extra savings for travels, enrichments and enjoy life.

Don't work ur life away just to pay off bank loans for your multi million dollar jail cell in a concrete jungle. :rolleyes:

I agree. I can't understand why many people are obsessed with this need to "upgrade" to private property, taking loans of $900K or more (for a typical $1.2M condo). Is that really an upgrade or is it a downgrade because you have to work like a dog for the rest of your life or give up many luxuries to pay for your condo?

Looking at it from a different angle, the bank is really making you and your family work for them for 30 years or more without paying you any salary.

[thomastansb]

And looking at BTO new HDBs, 4 bedroom only around 250k +-20k depending on location. Government claim it is affordable. Based on your calculation, yes, indeed it is really dirt cheap and affordable. And you based on 30 years/3%. Use 35 years/2.6% and HDB is even more affordable. In fact, I think the affordability level is ridiculously high/easy when comparing to other developed countries.






For employed households, or households with at least one working person, median monthly income from work increased by 2.8 per cent in real terms to S$5,700.

Assuming S$5700 pm, and adding another 15% from employers' CPF, that is $6555 pm. Use 35% to pay loan means can use S$2294 pm.

For 30 years loan at 3.0% (assume average over 30 years), they can afford $720k loan!

So, 50% of the households in Singapore can afford $720k loan or a property of $900k value (assume 80% loan)!

But if you look at the HDB property prices bought by 80% of Singaporeans, they are mostly <$500k! Even super good locations eg Bukit Merah 5rm only $700k!

So, I agree that Singaporeans now want cheap and good properties (good location, convenient, near amenities, good view etc but want to pay only price just like 20 years ago!) :doh:


--------------------------------------
Households' median monthly income rises
By Mustafa Shafawi | Posted: 14 February 2011 1129 hrs



SINGAPORE: The Department of Statistics (DOS) said the median monthly income from work among resident households increased by 3.1 per cent last year, recovering to a level higher than before the economic downturn in 2009.

It rose S$150 dollars to $5,000.

DOS said in real terms, the increase was 0.3 per cent.

For employed households, or households with at least one working person, median monthly income from work increased by 2.8 per cent in real terms to S$5,700.

The department said growth in median monthly household income from work among employed households was higher in smaller housing types than those in bigger housing types.

In real terms, median monthly household income from work increased by 7.0 per cent for those in HDB one- and two-room flats, 3.6 per cent for those in HDB three-room flats, 2.4 per cent for those in HDB four-room or larger flats and 0.2 per cent for those in private properties.

This is due to the various government schemes which gave a larger boost to those staying in smaller housing types.

Resident households in HDB one- and two-room flats received an average of S$2,650 per household member while resident households in HDB three-room flats received an average of S$1,480 per household member.

This was higher than the S$530 per household member for households in private properties.

Among employed households, the average monthly household income from work per household member increased by more than three per cent in real terms for all income groups.

-CNA/wk

[Allthepies]

frankly, I think most singapore view is not pretty.

what is so scenic about blocks of flats?? singapore got no mountain.... even the sea is dirty green in color....

singapore do have nice blue sea view, but only exclusive to those very rich @ sentosa cove:D

[Allthepies]

I agree. I can't understand why many people are obsessed with this need to "upgrade" to private property, taking loans of $900K or more (for a typical $1.2M condo). Is that really an upgrade or is it a downgrade because you have to work like a dog for the rest of your life or give up many luxuries to pay for your condo?

Looking at it from a different angle, the bank is really making you and your family work for them for 30 years or more without paying you any salary.

that applies to home-stayers... but many work it the other way, using cheap money from banks to fund their investment in properties. the bank money is dirt cheap averages 3.5%.. where else could you find this source of cheap money :2cents: anyway our inflation is around that rate too, get my point?? :D

[thomastansb]

True, you reap full benefits when you rent it out. Especially at > 5% yield.






that applies to home-stayers... but many work it the other way, using cheap money from banks to fund their investment in properties. the bank money is dirt cheap averages 3.5%.. where else could you find this source of cheap money :2cents: anyway our inflation is around that rate too, get my point?? :D

[thomastansb]

Got a friend who bought a private as first house. I ask him buy HDB but this is his reasoning which I think is pretty reasonable:-

You buy a resale private for 1M. Stay 30 years, sell for 1.5M and retire
You buy a resale HDB for 500k. Stay for 30 years, sell for 750k and retire

The sum works out to be the same but you enjoy the process during these 30 years. His theory is based on equal appreciation, equal bank interest.




I agree. I can't understand why many people are obsessed with this need to "upgrade" to private property, taking loans of $900K or more (for a typical $1.2M condo). Is that really an upgrade or is it a downgrade because you have to work like a dog for the rest of your life or give up many luxuries to pay for your condo?

Looking at it from a different angle, the bank is really making you and your family work for them for 30 years or more without paying you any salary.

[Regulators]

there is no guarantee that the new flat under SERS can fetch the same price you paid for the old flat you bought at 800k.
This will not happen as these properties will be SERed

[rattydrama]

Erm... I thought this is the reflecting pool of Republic Poly in woodlands? :beats-me-man:

the night view is fantastic.

[hyenergix]

there is no guarantee that the new flat under SERS can fetch the same price you paid for the old flat you bought at 800k.

MBT has announced that SERS is slowing down. The good things in HDB will slowly come to an end ;)

[mantrix]

the night view is fantastic.

recognized that the minute i saw it :)

ermmm theoretically it is a water view though only 30cm deep...the view must be from opposite HDB flats i guess

[CCR]

MBT has announced that SERS is slowing down. The good things in HDB will slowly come to an end ;)

I don't understand how SERs can slow down... mBT citenlack of land for slowing down SERs... How can it be..... You tear down three blocks of 12 stories, then you built three blocks of 40 storey smaller it's (the five room new hdb is definitely smaller then the old five room right)... Andthe three blocks are now closer to each other as compared to the old blocks which have more space like open air carpark etc....

You already have three times more units available for sale.... Then you tear down the three old bolcks and it becomes vacant land again... So how come lack of space to continue SERs at current pace?

The real reasons I think is that SERs are driving up the pricesmof surrounding older flats and that is a political hot potatoe hence slow down SERs and you slow down the increase in hdb prices in mature estate...

[rattydrama]

recognized that the minute i saw it :)

ermmm theoretically it is a water view though only 30cm deep...the view must be from opposite HDB flats i guess

the right side of the pic is HDB, so the water view is from the right to the left of the picture. Hope this helps in your imagination.

the night view is fantastic as there is dimmer light which make the cultural block and the reflective pool cool to view from far and high.:p :p

I should have taken a pic myself during those days.....:rolleyes:

[rattydrama]

I don't understand how SERs can slow down... mBT citenlack of land for slowing down SERs... How can it be..... You tear down three blocks of 12 stories, then you built three blocks of 40 storey smaller it's (the five room new hdb is definitely smaller then the old five room right)... Andthe three blocks are now closer to each other as compared to the old blocks which have more space like open air carpark etc....

You already have three times more units available for sale.... Then you tear down the three old bolcks and it becomes vacant land again... So how come lack of space to continue SERs at current pace?

The real reasons I think is that SERs are driving up the pricesmof surrounding older flats and that is a political hot potatoe hence slow down SERs and you slow down the increase in hdb prices in mature estate...

I tot to uproot old folks is a bad idea. My mom for once will not want to shift at all costs. She will go crazy if we ever ask her to shift.

[tericia]

Take a 30 yr old 5 rm flat in dover or queenstwn transacted at 7xxk or 800k, do you think 30 yr later when the flat is 60 yr old with 30 yr left on the lease can be sold at 1 mil? That can only happen if our currency is greatly inflated

i don't disagree with you but i also don't dare to take a stand. If someone told me in 2001 when i bought Dover that it will be fetching $700000 today, even when the flat is so old, i think i'll laugh until i fall of the chair.

But looks like the ones laughing are the ones who sold their dover flats at $700000+ (haiz, i'm not one of them unfortunately).

Anyway, after i sold dover, i sold another very old hdb as well and i also thought that hdb was going to be a money sinker. Ended up also made a lot (relative to the price i bought it for).

So... i'm really not sure if the prices of hdb will go up or down in the future as they age.

[azeoprop]

Looks like HDB is much better than 99yrs condos. It has unlimited lifespan...re-paint, upgrade, upsize and eventually Selective En bloc Redevelopment Scheme..... :cheers1:

[hyenergix]

SERS is slowing down. This means the government will just refurbish existing HDB blocks instead of going for SERS. Those who want to huat will have to wait longer now. But HDB in good location is still better than 99LH condos.

[kingkong1984]

99LH condos better than FH in cock locations. Exceptions are 99LH at cock locations... worst of the worst.

[Exeehc]

After 4 pages, comes back to square one.
Good location FH = very good
Good location LH = good
Bad location FH = not so bad
Bad location LH = very bad

its still all about location.

[sh]

99LH condos better than FH in cock locations. Exceptions are 99LH at cock locations... worst of the worst.

99LH worth 0 after 99 years, cock location or not.

FH in cock location still worth something after 99 years.

Only problem, not around after 99 years:(

[azeoprop]

Maybe next time got some new cell renewal technology and people's lifespan become 120yrs as standard. :scared-3:

[hopeful]

Maybe next time got some new cell renewal technology and people's lifespan become 120yrs as standard. :scared-3:
Your MM would be very pleased. Can work longer and longer until drop dead. withdrawal cpf at 100 years old.
on a practical side, we take 60 year loan tenure :)

[Regulators]

A*STAR has spent millions on stem cell research and not much breakthru so far :doh:


Maybe next time got some new cell renewal technology and people's lifespan become 120yrs as standard. :scared-3:

[hyenergix]

Research is very hard to say one. Spending millions doesnt guarantee any result. On the other hand, Issac Newton just idled under an apple tree and came out with a profound Law of Gravitation.

[lohchd]

Your MM would be very pleased. Can work longer and longer until drop dead. withdrawal cpf at 100 years old.
on a practical side, we take 60 year loan tenure :)

Why don't they allow our the younger generation to buy property with their parents? Price can move further up and they can achieve their objective of putting the ppl in debt for years to come....

[Geylang OKT]

And that, my friends, is why I love Geylang :D