The cause of HDB resale price surge
-
If PAP loses a few GRC during coming election , MBT is the person to be blame for his policies and his skewed rebuttal on HDB prices .. HBD has lost focus of it mission to build houses for masses at subsided prices , rather it is now a revenue generating biz model of DBSS, BTO ... and worse undersupply of flat to inflate the price and control the economy
-
Won't lose GRC lah.
New citizens will vote for the pappies after all the Amazing Race events they organise for them.
-
Originally posted by Fantagf:
Some parents already start to worry if their grown up kids can afford buying HDB flats when they grow up. Such pathetic state that the ruling party has put the people into, thank you thunder strike party.
The kids got no choice, then they will have to ask their parents to sell their flats and use the profit to help them to buy one.So the parents starting to worry although their flat have a high price now.
-
I read this at another forum:
A single Singaporean guy who did his NS, did his reservist and paid his taxes every year is legally not allowed to buy a resale flat until he is 35.
A PR on the other hand, can just buy a resale flat just like that without much restriction.
Think about it.
-
Originally posted by charlize:
I read this at another forum:
A single Singaporean guy who did his NS, did his reservist and paid his taxes every year is legally not allowed to buy a resale flat until he is 35.
A PR on the other hand, can just buy a resale flat just like that without much restriction.
Think about it.
I think the prs are still limited by certain critieria like Singaporeans too.
But one notable scheme that is in the PRs favour is the Citizen/SPR Siblings Scheme.
The criteria is The application must comprise at least two single siblings whose parents are not Singapore Citizens or Singapore Permanent Residents and are not residing in Singapore permanently.
This favours the PRs whose parents are still in their home country and has a sibling in Singapore. Its gives them the right to buy HDB resale flats outright even though they have newly arrived in Singapore.
-
Also notable, if I am correct a single PR (without sibling) can not buy an HDB, even after 35.
Interesting terminology Calvin. 99 year (maximum) lease is definitely not buying outright. Let's not forget that there's no HDB ownership by foreigners or locals alike.
-
Originally posted by webben:
Also notable, if I am correct a single PR (without sibling) can not buy an HDB, even after 35.
Interesting terminology Calvin. 99 year (maximum) lease is definitely not buying outright. Let's not forget that there's no HDB ownership by foreigners or locals alike.
Hi Webben,
Thats a sharp observation. A single PR would not be able to buy a flat based on the criteria listed in the HDB website.
However, most foreigners from third world countries ( at least those i know) are bringing their friends, their wives, their family and siblings to Singapore. The age of marriage is quite young in these developing countries, so a significant proportion are married already.
One notable characteristic about the PRs couples/siblings is that they are willing to share the flat they buy, hence their willingness to pay high prices for HDB. They may buy a 4 room flat at a high price and lease out 2 of the rooms to cover mortgage.
Singaporean married couples on the other hand are less willing to explore such an option as they value privacy.
-
Originally posted by Calvin86:
Hi Weben,
Thats a sharp observation. A single PR would not be able to buy a flat based on the criteria listed in the HDB website.
However, most foreigners from third world countries ( at least those i know) are bringing their friends, their wives, their family and siblings to Singapore. The age of marriage is quite young in these developing countries, so a significant proportion are married already.
One notable characteristic about the PRs couples/siblings is that they are willing to share the flat they buy, hence their willingness to pay high prices for HDB. They may buy a 4 room flat at a high price and lease out 2 of the rooms to cover mortgage.
Singaporean married couples on the other hand are less willing to explore such an option as they value privacy.
Yeah, I reckon most of these PRs who have bought flats will rent out the additional rooms to their friends. Rentals can easily cover part of their mortgage loan.
Singaporean couples on the other hand would want a home to start a family, so unless they really needed money, they would not want to rent out to strangers.
-
Actually essentially, the cost to the PRs is probably 10-20% of the price of the flat that they need to pay up. Renting out the other 2 rooms might actually cover their loan from then on.
Good deal.
-
CARRY ON