So sad, another CSer gone just like that. I do hope He will be back. I enjoyed his post, encouraging healthy debates on issues, backed by facts and , on a legal stance. Insightful to know more about the finer prints of the legal issues. Maybe shld start a " Vince123123 Come Back" thread. hurhur...
Yeah man... why he kenna banned? What did he do or say that caused the ban?
some just don't like to be challenged.
Sony Alpha 700 hobbyist
pathetic singaporean. 20000 for 2100 units. sigh
seems like we are now push into getting BT0 flats. isn't more pricey than ever?
Overwhelming response to Sale of Balance Flats
By Saifulbahri Ismail, 938LIVE | Posted: 14 October 2009 1824 hrs
SINGAPORE: The Housing & Development Board (HDB) says the chances of a first-time flat buyer shortlisted to select a flat under the Sale of Balance Flats exercise is slim, despite the priority given to them.
This is due to the overwhelming response to the exercise which will end at midnight Wednesday. More than 20,000 applications were received as at 5pm for the 2,100 flats on offer.
About seven in ten applicants are first-time buyers. The rest have bought at least one flat in the past. Demand was high across the board, even in less mature and less centralised locations such as Bukit Batok, Choa Chu Kang and Woodlands.
Property analysts attributed the strong demand partly to the boom in the housing market.
Jeffrey Hong, executive director of HSR Property Group, said: "The cash above valuation, it has been huge right now. Owners are expecting like $50,000 above valuation or some may be asking for $60,000 above valuation. So, for those first-time flat owners, they cannot fork out this money. So, they have basically no choice but to narrow down towards the less popular areas."
HDB says first-time flat buyers who would like greater certainty in securing a flat should apply for the Build-to-Order or BTO flats, which are the main mode of supply for flats.
Its records show that 96 percent of first-timers have been given a chance to select a BTO flat within two tries.
The HDB will launch two new BTO projects offering more than 1,000 flats in Sengkang and Jurong West on Friday.
This will be followed by six more launches with 4,000 flats in Punggol, Sembawang, Bukit Panjang and Dawson estates in November and December.
This will bring the number of new BTO flats the board is launching to 5,000 in three months.
In total, HDB says it will be supplying 9,000 new BTO flats this year. That's far more than the 2,900 balance flats sold under the current and previous sale exercises for this year.
HDB says it will continue to monitor housing demand and ensure that there is sufficient flat supply for first-time buyers.
funny isn't it, they keep saying they have enough flat.
Sony Alpha 700 hobbyist
at least in this case, close to 90% or applicant can't get a flat, although I am not sure how many is 1st timer. But how did he get the figure that 80~90% of 1st timer can get a flat?
Sony Alpha 700 hobbyist
Well, I have 3 other buddies who applied for HDB around the same time last yr as me. Buddy A was a veteran. abt 7 or 8 attempts , not even a chance to select the left overs on the 2nd or 3 storey. Buddy B also probably 4 or 5 attempts before getting the chance to select something. Buddy C and myself are lucky to hit the jackpot in the 1st attempt.
Who else had frens / colleagues / neighbour who had like 7 - 8 attempts ? There are alot of such cases over at the other forums popular with newly weds .
Enough flats ? MBT never see the overwhelming applications at each and every BTO as a sign that there ARE NOT enough flats. Rate of begging pple to take up our PR is greater than the rate new flats are made available.
1 data that will never see light. The % of the policy makers at HDB that are residing in HDB / Condo / Landed.
Sometimes it's like the King telling the farmers that there is enough rain for the land- so don't worry. Don't even try to invite the King for a 1 week farm stay in any attempt to let him feel what it's like, he doesn't really care and you might get beheaded in return.
Jun. 09 BTO, 2051 people applied.
Aug. 09 BTO, 5392 people applied.
Sep. 09 BTO, 3127 people applied.
Oct 09 Sale of Balance Flats, 21452 people applied.
4 months, total of 32022 people applied for flat.
Each has to pay $10 to apply.
EZ money? Don't know what the $10 is for and what they are going to use it for?
Well chaps, looks like the herd will be stampeding back towards the stock & capital markets quite soon.
With the Dow catapulting the 10,000 mark and global indexes buoying, the herds' greed money will be pulled towards the insatiable attraction of bountiful gains and windfalls in the stock market.
Hopefully 2010 will normalize property prices to sane levels. Oversupply is almost a certainty now.
LOL, if you guys saw the Sat 17 Oct 09, Strait Times, there is this big articles trying to tell the public that HDB price is still "affordable" and "reasonable"...
People at the ground will know whether this is true....
HDB resale flat prices hit new high in Q3
SINGAPORE: Prices of HDB resale flats in Singapore rose to record highs in the third quarter, according to data released on Friday.
The latest data from the Housing and Development Board (HDB) showed that the Resale Price Index rose 3.6 per cent in the third quarter over the previous quarter to 145.2 points.
This has raised concern among some potential homebuyers, who fear that prices may continue to rise.
The last time the HDB resale market saw such high transaction volumes was more than four years ago, in the fourth quarter of 2004. Back then, 11,562 changed hands, compared to the 11,649 seen in the third quarter ended September this year.
ERA Real Estate said the typical quarterly HDB resale volume ranges from 6,000 to 8,000 units at most.
Eugene Lim, associate director, ERA Asia Pacific, said: "We have seen the HDB resale volume jump to above 10,000 for second quarter and above 11,600 for the third quarter this year.
"The third quarter is a very good month for HDB resale. It's likely to taper off partly because cash over valuation, due to increased demand, has increased.
"HDB homebuyers are a price sensitive lot. So it will probably hit a resistance level. And in that sense we will expect resale volume to taper downwards in the last quarter."
Mr Lim also said that the slowing resale transactions will see 4th quarter prices increase at a slower rate, by about 2 to 3 per cent.
HDB homebuyers and sellers said they are concerned about the increase in prices, and are studying the market closely before making any buying or selling decisions.
"I just need to survey whether I and my girl can save up some money when we get married, whether we can share the burden to buy the house," said Freddy Samsi, a potential homebuyer.
A private homeowner, John Bosco said: "I don't think we're really out of the economy, out of the woods yet. And yet housing prices have gone up to a level which I think will not sustain. I'm not sure if the government pegging it to resale is a good idea, because they should keep their own prices."
He said that property and housing are close to people's hearts and HDB should make things affordable for people. "Paying S$600,000 for a HDB flat is... obscene actually," he added.
However, Mr Teo LT, a homeowner, said that he would prefer prices to be high. "I've already bought mine, so I want the price to be stable at the price I bought, and not dip immediately," he added.
Going forward, analysts said they expect activity in the HDB market to maintain at current levels as the economy recovers.
Meanwhile, private home prices were similarly buoyant - up 15.8 per cent in the third quarter, compared to the second quarter. This is a sharp turnaround from the 4.7-per-cent fall seen in the second quarter, and snaps four straight quarters of decline.
agent are asking for 35K COV for 3 room already. crazy!!! since valuation of the flats has factor in the amenties, transportation, etc, what is the COV meant for? renovation?
COV is just another cash cow to milk buyers. Period.
Anyway, I think I should join the veterans club for housing application. 6 times and counting still no luck. Waited for 3.5 years already. Applied before I got married, no luck. Continued to apply after I got married, still no luck. Even applied for god-forsaken areas still never get. Now with a baby, if I still don't get at least a queue number, I am burning the house down. I am going to write a strong worded letter to my MP and cc MBT.
I don't understand the 'first come first serve' basis since I applied very very early but don't even get a chance. I wonder what happened to the priority for young couples applying for a flat? Just for show only? I am beginning to think that scheme is simply bullsh!t because my buddies and I who applied for a flat in the west area, didn't even stand a chance to even get a queue number.
Frustrated young man.
i got it after 2 yrs of trying.... i almost gave up, the last straw came last yr and i decide to go see the MP about it, the MP was kind enough to write a letter for me, HDB responded with a lame negative reply. But anyway i got a queue number just good enough to choose a flat for my next balloting... could be coincidence i dunno...
anyway i think they should revamp the scheme and give actual priority to those who are already maaried and especially those with children...
Since he have already declared that the supplies is adequate to the market,
but it is us who are choosy....Well unless they have lost touch with the ground or they couldn't care less..... either way, the middle class, especially the newly wedded couple will always be the losing one....