URA shoebox rule may dent prices, or will it?

[leesg123]

http://www.businesstimes.com.sg/prem...ll-it-20120906

Article from Business Times

[august]

the upcoming changes to HDB BTOs allowing singles to purchase will further weaken and may even seal the demise of shoebox units.

[hyenergix]

Couples earning > $10k are out of HDB BTOs. Chances are singles who are high income earner (particulary those who can afford MM) will not be allowed to buy also. I bet it will be designed more for lower income singles who need more help from the government. Impact to MM should be quite minimal. On the other hand, the recent rule to reduce MM supplies will boost the value of MM considerably.

[fiat500]

the upcoming changes to HDB BTOs allowing singles to purchase will further weaken and may even seal the demise of shoebox units.

i dont think so...singles who wish to buy hdb and singles who buy private condos are 2 different groups of people with different income bracket n lifestyle..
in fact upcoming curbing building of MM units will boost price n demand further..

[zeamybro]

i dont think so...singles who wish to buy hdb and singles who buy private condos are 2 different groups of people with different income bracket n lifestyle..
in fact upcoming curbing building of MM units will boost price n demand further..

Yeah agree... Singles who have higher earning power would prob start buying PC in their late 20s or early 30s, and need not wait till 35. And if govt allows singles to buy new BTOs at 35, does that mean they have to wait till 38 before they can have their own physical nest?

[Mr.Keh]

the upcoming changes to HDB BTOs allowing singles to purchase will further weaken and may even seal the demise of shoebox units.

I believe the HDB income cap for singles will be quite low, otherwise alot of people can and will abuse the system to make $$$. Currently, income cap for couples to buy BTO is $10,000. Singles could be capped at $5k?

In addition, I do believe most shoebox units are sold to investors and not for owner occupation. When I was shopping around, I went to many MM developments and found out that the majority of units were rented out.

[DC33_2008]

It is quite obvious that singles who also want a piece of the cake. They pay taxes like those married couples and entitle to own HDB flats. This can be the start of the nightmare. Garment is answering to all the calls made by the people. It is very dangerous as expectations are always going up.

I believe the HDB income cap for singles will be quite low, otherwise alot of people can and will abuse the system to make $$$. Currently, income cap for couples to buy BTO is $10,000. Singles could be capped at $5k?

In addition, I do believe most shoebox units are sold to investors and not for owner occupation. When I was shopping around, I went to many MM developments and found out that the majority of units were rented out.

[carbuncle]

Yes. I don't support this one. If so max salary ceiling should be 3k and below. Can't afford to buy private or MM then either get married or continue leeching off parents. Just make sure they give generous allowance to parents to sleep with clear conscience every night. No parents or plain ugly or anti social or useless just rent room outside for $800.

What right do you want as a single, seriously?? If you contribute enough to economy, you can afford a private or at least smelly smelly a stupid tiny hole MM...

If you are a single at 35yo yet can't afford to buy resale hdb and yet unwilling to rent room outside then you be better off jumping into Bedok Reservoir. At least you die surrounded by condos you can only dream of.

(*satire warning)

[hyenergix]

Yes. I don't support this one. If so max salary ceiling should be 3k and below. Can't afford to buy private or MM then either get married or continue leeching off parents. Just make sure they give generous allowance to parents to sleep with clear conscience every night. No parents or plain ugly or anti social or useless just rent room outside for $800.

What right do you want as a single, seriously?? If you contribute enough to economy, you can afford a private or at least smelly smelly a stupid tiny hole MM...

If you are a single at 35yo yet can't afford to buy resale hdb and yet unwilling to rent room outside then you be better off jumping into Bedok Reservoir. At least you die surrounded by condos you can only dream of.

(*satire warning)

Many pp in poverty trap. They need some help.

[carbuncle]

Noticed this was never said specifically. Minister only said Singles.

Not needy, handicapped, early orphaned Singles.

I don't believe in such a thing as poverty trap. Not in Singapore.

[carbuncle]

Many pp in poverty trap. They need some help.

If our dear FT ep holders can jointly rent a hdb each paying say only 500, I don't see why the poor Single cant do the same. Government has not mentioned earning 500 a month for a single can afford a hdb flat.

There are also rental schemes at way less then 150 a month.

[price]

Noticed this was never said specifically. Minister only said Singles.

Not needy, handicapped, early orphaned Singles.

I don't believe in such a thing as poverty trap. Not in Singapore.

omg, totally agree with you.

the Government dont owe them anything for being poor at 35!

[danntbt]

Yes. I don't support this one. If so max salary ceiling should be 3k and below. Can't afford to buy private or MM then either get married or continue leeching off parents. Just make sure they give generous allowance to parents to sleep with clear conscience every night. No parents or plain ugly or anti social or useless just rent room outside for $800.

What right do you want as a single, seriously?? If you contribute enough to economy, you can afford a private or at least smelly smelly a stupid tiny hole MM...

If you are a single at 35yo yet can't afford to buy resale hdb and yet unwilling to rent room outside then you be better off jumping into Bedok Reservoir. At least you die surrounded by condos you can only dream of.

(*satire warning)

Just don't let them know of YT success story........otherwise....we gonna have a huge bull run....

[carbuncle]

but but he not single what....

[danntbt]

but but he not single what....

.....there is no law that say single cannot do what he did ...is there?...just that - probably easier...like threatening not ever to get married.....it works on the govt....

[phantom_opera]

Bro BJ style .... let me tell u a little secret, MM in OCR, MM in Geyland and MM in CCR are for different purpose

[irisng]

If our dear FT ep holders can jointly rent a hdb each paying say only 500, I don't see why the poor Single cant do the same. Government has not mentioned earning 500 a month for a single can afford a hdb flat.

There are also rental schemes at way less then 150 a month.

FT no choice, it is not their hometown but Singaporeans are different, they are bred here, so still have the choice of staying with their parents.

[Estella83]

Noticed this was never said specifically. Minister only said Singles.

Not needy, handicapped, early orphaned Singles.

I don't believe in such a thing as poverty trap. Not in Singapore.

Hope your children will grow up to be a useful person

[Estella83]

Anyway, sg Also don't own PR or foreigner a living

[leesg123]

Anyway, sg Also don't own PR or foreigner a living

Tats why survival of the fitest lor!

[minority]

If our dear FT ep holders can jointly rent a hdb each paying say only 500, I don't see why the poor Single cant do the same. Government has not mentioned earning 500 a month for a single can afford a hdb flat.

There are also rental schemes at way less then 150 a month.

Coz goverment want to encourage. ?Ok force. Procreation.

If everyone comfortble enjoy single hood Dont get married the ft problem will be even more actue later.

[minority]

Just don't let them know of YT success story........otherwise....we gonna have a huge bull run....

That 1 success or not only time will tell.

[minority]

Noticed this was never said specifically. Minister only said Singles.

Not needy, handicapped, early orphaned Singles.

I don't believe in such a thing as poverty trap. Not in Singapore.

Tell it to those who bought in 1997. For almpst 12 yrs they where stuck. If not for the Singapore policy to grow population u think those people cpuld get out of the prop?

Dont think this black swan event happen so often.

[eng81157]

why should it dent prices? in fact, less supply will push up prices, assuming that demand is still as voraciferous as ever.

[hyenergix]

Just did a check on propertyguru on MM FH/999LH 1 bedder:

1. Units more than 400 sqft costing less than $600k are rare finds now, and those that are available are mostly in Geylang, and they are not cheap either.

2. Units less than 400 sqft are in the range of $1600 psf, putting them into above $500k range.

With severe restrictions in MM supplies, introduction of 30/60 years lease plots and QE to infinity, FH and 999LH MMs should see further boost to their prices. 物以稀为贵.

http://www.propertyguru.com.sg/singa...itude=&submit=

[carbuncle]

I don't think we need to reemphasize that anymore. Let those who missed the boat continue to miss it. If one is dead set against shoeboxes, its not so easy to change one overnight.

[Rosy]

I don't think we need to reemphasize that anymore. Let those who missed the boat continue to miss it. If one is dead set against shoeboxes, its not so easy to change one overnight.

I am looking for my first Mm investment. 2 bedder mm.