Your views on the current surging property market

[stonefish35]

Allowing the work permit holders to stay in HDB is also driving up the demand? Pple who had the ability to upgrade to private property and hold the flat will renting them out instead. Having had my experience in balloting last sept, I will say the current ballot system is really based on pure luck.

Had 2 other buddies also applying for a BTO in the west last sept. Buddy A was a veteran of BTOs, that was like his 6th or 7th BTO. Each previous attempt, he did not even get to choose the leftovers. His Q no. was like at least 2 or 3 times the no. of units available.

That sept 08 attempt, he had like 6 0r 7 chances. Buddy B and myself had 4. As we are 1st timers, and the BTO was within 2km of our parents. Both of us got 4 chances.

No. of units available, 284. Buddy A's Q number was like 600++. Buddy B & myself got Q no. of less than 50. Pure luck.

Buddy A went on for further BTOs with same fate. And he even dun mind taking up Ponggol BTO, although its nowhere near either parents.

 

[vince123123]

Yup I remember, but whether or not they are overbuilt is another question. I always cast a skeptical eye over anything reported by the MSM because of the potential bias and vested interests involved.

The population is growing yes, but it is growing too fast to be supported by infrastructure. Housing is one of them. Other things like transportation, amenities etc are also lacking. Take a look at our shopping malls nowadays, packed... I recall that there was a Jurong Point extension, doubling the size of the mall; yet the mall is still just as packed now

I'm probably not updated but does anyone remember when did Khaw say that HDB will not be building any more flats as they have overbuilt?

Well, at least the population is growing

On another note, how's the occupancy of HDBs now? Are they leased out by owners or occupied by newbies?

 

[vince123123]

The BTO method is to simply sell off all the lousy flats by making people wait and then because they have no choie to wait, they just settle for the lousiest. Also, it is commercially sound (provided HDB is commercially inclined and not public housing inclined) to have as little stock in trade as possible. If you have monopoly, you can always dictate terms such as pay in advance before importing stocks.

Try that in a non-monopoly situation and the company will close down very fast.

Allowing the work permit holders to stay in HDB is also driving up the demand? Pple who had the ability to upgrade to private property and hold the flat will renting them out instead. Having had my experience in balloting last sept, I will say the current ballot system is really based on pure luck.

Had 2 other buddies also applying for a BTO in the west last sept. Buddy A was a veteran of BTOs, that was like his 6th or 7th BTO. Each previous attempt, he did not even get to choose the leftovers. His Q no. was like at least 2 or 3 times the no. of units available.

That sept 08 attempt, he had like 6 0r 7 chances. Buddy B and myself had 4. As we are 1st timers, and the BTO was within 2km of our parents. Both of us got 4 chances.

No. of units available, 284. Buddy A's Q number was like 600++. Buddy B & myself got Q no. of less than 50. Pure luck.

Buddy A went on for further BTOs with same fate. And he even dun mind taking up Ponggol BTO, although its nowhere near either parents.

 

[stonefish35]

The BTO method is to simply sell off all the lousy flats by making people wait and then because they have no choie to wait, they just settle for the lousiest. Also, it is commercially sound (provided HDB is commercially inclined and not public housing inclined) to have as little stock in trade as possible. If you have monopoly, you can always dictate terms such as pay in advance before importing stocks.

Try that in a non-monopoly situation and the company will close down very fast.

I totally agree with this. Had been a learning experience for the past yr.

 

[iMac08]

i wonder if HDB is reading this. i totally agree with Vince....today every man is for himself. if one expect cheap public housing or that when u are sick,that pathetic CPF etc can save u...dream on... the reality is not like that and will never be. if HDB so nice..then why are they selling their queenstown flat at 500k and follow the resale market? complete BS. is all abt the money. why Town council can have so much money to invest?lose money alr still don't admit mistake and just brush the whole thing off(if anyone still remembers)...

this thread has show everything is LL...we just follow. no money?minster says go stay somewhere far la.don't be so demanding(i think is Mr Mah was the horse behind it).....

 

[vince123123]

Everything in Singapore is about money, whether it be public housing, public transport, every facet and policy is made primarily with money in mind. When a problem crops up in any area, money is used as the champion solver of that problem (read ERP, aging destitutes etc).

That unfortunately results in the people growing up in an envrionment thinking nothing but money.

 

[vince123123]

Can't remember if I shared this before; basically it is a rebuttal to the concept that owning a HDB flat and pushing prices up creates wealth:

http://www.temasekreview.com/2009/0...f-hdb-flats-generate-wealth-for-singaporeans/

 

[eyes]

Cannot agree more. Some folks think it's a good thing to have high prices for their flats because they think they'll make some good cash if they sell. But seldom do they notice the second piece, which is they need another roof over their head after they sell their flat. ie. ZERO SUM GAME. (of course this won't apply if the person choose to be a vagrant after the flat sale)

 

[diver-hloc]

Cannot agree more. Some folks think it's a good thing to have high prices for their flats because they think they'll make some good cash if they sell. But seldom do they notice the second piece, which is they need another roof over their head after they sell their flat. ie. ZERO SUM GAME. (of course this won't apply if the person choose to be a vagrant after the flat sale)

Or unless they downgrade, migrate, move in with other family member.... etc.

Example....

The Loan Shark / Banker is coming over again.... sell your house for $300K to pay them off, or sell it for $150K to pay them off ?? One way or the other, you would unlikely be able to afford anything else after this :sweat: Btw.... real life example from my work place. :what:

 

[goon]

An old teacher of mine always use a rather cheesy but somewhat enlightening proverb-" men eat cow and cow eat grass but grass eat what?"

Looks like most of us normal S'poreans are the 'grass':cry: Everything here has gone up-COE's,housing,properties,public transport and even our cable subscriptions ( soon?) .

A HR colleague told me that fresh poly grads' starting pay is still btwn S$1.6-1.8K for the last 12 yrs so . Very soon we,the grass must eat grass liao!

 

[eyes]

Hahaha... you mean normal SINGers are worse off them him? Hahaha.... :bsmilie:

An old teacher of mine always use a rather cheesy but somewhat enlightening proverb-" men eat cow and cow eat grass but grass eat what?"

Looks like most of us normal S'poreans are the 'grass':cry: Everything here has gone up-COE's,housing,properties,public transport and even our cable subscriptions ( soon?) .

A HR colleague told me that fresh poly grads' starting pay is still btwn S$1.6-1.8K for the last 12 yrs so . Very soon we,the grass must eat grass liao!

 

[eyes]

Here comes the explaination of why they're using the BTO process:

http://www.razor.tv/site/servlet/se...sessionid=9E0681FFEDBAD1E10C203FAF58F34179.01

By the way, I just realise that for the last exercise, it'll cost applicants SGD 10 per application. So I guess when 12k of people applies for 2k of flats, the gross revenue coming from the unsucessful applications in the exercise is SGD 100k.

 

[dreaming]

HDB : “Getting a flat” statistics that hardly anybody believes?
http://theonlinecitizen.com/2009/10/hdb-“getting-a-flat”-statistics-that-hardly-anybody-believes/

"If you are offered the worst location flat on the second floor, that hardly anybody wants, would you readily accept it considering that you are making possibly the largest purchase in your life?"

again, again and again, why can't the designer open up their ears? they should do something here. ppl hate 1st, 2nd, even 3rd storey. why can't they vacant the 1st, 2nd storey, or make the first 2 storey higher, so that 3rd storey will look more appealing...

 

[diver-hloc]

HDB : “Getting a flat” statistics that hardly anybody believes?
http://theonlinecitizen.com/2009/10/hdb-“getting-a-flat”-statistics-that-hardly-anybody-believes/

"If you are offered the worst location flat on the second floor, that hardly anybody wants, would you readily accept it considering that you are making possibly the largest purchase in your life?"

again, again and again, why can't the designer open up their ears? they should do something here. ppl hate 1st, 2nd, even 3rd storey. why can't they vacant the 1st, 2nd storey, or make the first 2 storey higher, so that 3rd storey will look more appealing...

Err... Ok. Lets 'start' the unit from 6th floor onwards.... that would mean that every flat will now need to be 18 floor or higher. That would also mean that construction would take longer and cost more (higher floor and less unit per flat).... and what do you do with the empty space between groundfloor and the 1st unit ??

*Muti-level carpark (more cost more maintance)
*Shops like NTUC, Coffee Shop... etc (Noise and crowd)
*Leave it empty... ??

Btw.... do you know that lower unit cost less than higher unit ?? HDB charge as much as $8K for evey extra level. A real life example would be my friend who recently got his BTO flat in Woodlands. He was told that the unit would be around $180+K.... but when it was his time to select his unit... all they have was level 2-3 only. He got himself a 3th floor unit at around $130K..... his CPF would cover everything in one go.... luckily bugger :bsmilie:

So, while like you I love higher level.... not everyone could afford the extra $$$$ for higher unit. Some would like to live in the same area but is not so picky about floor level. Some just can't afford it. That is why.... there are choices for you.

 

[diver-hloc]

Err.... btw, why is vince123123 account no more ?? :think:

 

[Xiao_shin]

Err.... btw, why is vince123123 account no more ?? :think:

Banned.

 

[diver-hloc]

Banned.

Hahaha.... that I can also see lah :bsmilie:

But WHY kena banned ?? :what:

 

[wheresmycheese]

Hahaha.... that I can also see lah :bsmilie:

But WHY kena banned ?? :what:

yea. what are the reasons? so sudden!!

 

[eyes]

http://www.clubsnap.com/forums/showthread.php?t=577804&page=3

 

[zero o]

http://www.clubsnap.com/forums/showthread.php?t=577804&page=3

thanks