Prices of Singapore’s public flats to continue increasing: M
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Prices of Singapore’s public flats to continue increasing: MM Lee
December 26, 2009
Singapore´s founding father, Minister Mentor Lee Kuan Yew, said public flats will appreciate in value as long as the country´s economy continues to grow, reported Channel News Asia.
He was speaking at the launch of The Pinnacle@Duxton yesterday.
Standing at 50 storeys high, this development is the tallest Housing Development Board (HDB) public housing project in Singapore.
The issue on public housing affordability is a hotly debated topic that has divided Singaporeans.
Data from the HDB shows that the Resale Price Index (RPI) has continued to climb even further, posting a record 145.2 points for the third quarter.
This is a growth of 3.6 percent over the previous quarter.
While the record rise has benefitted HDB upgraders, young couples and singles trying to get their first leg into the property market, are finding HDB resale flats far too expensive.
The property boom means HDB upgraders made at least S$200, 000 in profit when selling their flats this year.
This has enabled them to upgrade to mass market condominiums.
Young couples and singles, however, have to deal with rising resale prices and increasing cash-over-valuations (COVs), which have resulted in many deciding to defer their purchase.
PropNex notes that the overall median COV for the third quarter is $12, 000.
This is a 300 percent increase compared to the $3, 000 figure in the second quarter.
The rise in the RPI and COV are due to the lack of supply and increased demand from both Singaporeans and permanent residents.
This has prompted the HDB to ramp up supply of its Build to Order (BTO) flats from 8, 000 to 9, 000 units.
According to government data, Singapore´s population has grown to almost 5 million.
Of this, approximately a quarter of that is foreign workers.
The number of foreigners getting permanent residency status also surged more than 11 percent in 2009.
MP Dr Muhammad Faisal, an assistant professor of real estate at the National University of Singapore (NUS), recently said young couples who were unable to get an HDB flat should plan ahead.
However, some say the onus remains with the HDB as the increase in demand is due partly to the government´s liberal immigration policy.
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Those from TP please vote out this old fart in next elections. Tired of his endless crap.
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Originally posted by John Penn:
Singapore´s founding father, Minister Mentor Lee Kuan Yew, said public flats will appreciate in value as long as the country´s economy continues to grow, reported Channel News Asia.
What nonsense is that? Prices depends on supply and demand. HDB flats is a highly regulated item. Endless crap.
1990s Singapore economy better, did the prices soar as high as now? HDB flats prices started to increase when Singapore was still in recession. Nothing but crap from that old fart.
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Originally posted by ztreyier:
What nonsense is that? Prices depends on supply and demand. HDB flats is a highly regulated item. Endless crap.
1990s Singapore economy better, did the prices soar as high as now? HDB flats prices started to increase when Singapore was still in recession. Nothing but crap from that old fart.
don't forget, if you sell your hdb flat - where you going to stay - or is it lease back scheme - it's STILL A LPPL SITUATION
really know how to talk cock and sing songs! -
This whole thing is a mess and a scam. Firstly majority of housing in singapore ,public ones is built by the government and not private developers. So where did this demand n supply come from? Unless specifically like in other countries where its built by private developers, this hold true. All this bullsh*t is nothing but regulated monopoly
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I am waiting for the day when singapore runs out of space, and see what happens. When all HDB flats are built and no more space left. WIl they stil argue with that lack of space theory?
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Originally posted by John Penn:
Prices of Singapore’s public flats to continue increasing: MM Lee
December 26, 2009
Singapore´s founding father, Minister Mentor Lee Kuan Yew, said public flats will appreciate in value as long as the country´s economy continues to grow, reported Channel News Asia.
He was speaking at the launch of The Pinnacle@Duxton yesterday.
Standing at 50 storeys high, this development is the tallest Housing Development Board (HDB) public housing project in Singapore.
The issue on public housing affordability is a hotly debated topic that has divided Singaporeans.
Data from the HDB shows that the Resale Price Index (RPI) has continued to climb even further, posting a record 145.2 points for the third quarter.
This is a growth of 3.6 percent over the previous quarter.
While the record rise has benefitted HDB upgraders, young couples and singles trying to get their first leg into the property market, are finding HDB resale flats far too expensive.
The property boom means HDB upgraders made at least S$200, 000 in profit when selling their flats this year.
This has enabled them to upgrade to mass market condominiums.
Young couples and singles, however, have to deal with rising resale prices and increasing cash-over-valuations (COVs), which have resulted in many deciding to defer their purchase.
PropNex notes that the overall median COV for the third quarter is $12, 000.
This is a 300 percent increase compared to the $3, 000 figure in the second quarter.
The rise in the RPI and COV are due to the lack of supply and increased demand from both Singaporeans and permanent residents.
This has prompted the HDB to ramp up supply of its Build to Order (BTO) flats from 8, 000 to 9, 000 units.
According to government data, Singapore´s population has grown to almost 5 million.
Of this, approximately a quarter of that is foreign workers.
The number of foreigners getting permanent residency status also surged more than 11 percent in 2009.
MP Dr Muhammad Faisal, an assistant professor of real estate at the National University of Singapore (NUS), recently said young couples who were unable to get an HDB flat should plan ahead.
However, some say the onus remains with the HDB as the increase in demand is due partly to the government´s liberal immigration policy.
haha wat a joke is this
his pay 5 digit a month, of course no problem lar
no money.. then plan wat?
he paying ar?
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5 digits?? you must be joking...at least 6 digits ya
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Originally posted by ☃®:
This whole thing is a mess and a scam. Firstly majority of housing in singapore ,public ones is built by the government and not private developers. So where did this demand n supply come from? Unless specifically like in other countries where its built by private developers, this hold true. All this bullsh*t is nothing but regulated monopoly
What the old fart LKY is doing is trying to shift the blame of rising housing prices AWAY from HDB and BLAME it on OTHER factors.
Deny that policies of PAP regime is at fault.
Lee Kuan Yew, said public flats will appreciate in value as long as the country´s economy continues to grow
That is a despicable and shameless behaviour from the old fart.
This person doesn't have any sort of integrity at all.
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All I can say is, they have insatiable greed for $$$$$$$$$$$$$$$$$
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wow, i am looking forward to cash in liao......then i can buy direct from hdb again....
so shiok
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Originally posted by Fantagf:
All I can say is, they have insatiable greed for $$$$$$$$$$$$$$$$$
In the next coming general elections of Singapore, Singaporeans must vote PAP out of power and end their 50+years stranglehold of power.
Because this PAP will get worse and worse in power. They have taken the people for granted since they win everytime in elections.
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Originally posted by ztreyier:
In the next coming general elections of Singapore, Singaporeans must vote PAP out of power and end their 50+years stranglehold of power.
Because this PAP will get worse and worse in power. They have taken the people for granted since they win everytime in elections.
I bet you over my dead body, in the next 50 years, PAP is stilll in power. Dun ever think you can change the govt of Singapore ya. Serious -
Originally posted by noahnoah:
haha wat a joke is this
his pay 5 digit a month, of course no problem lar
no money.. then plan wat?
he paying ar?
LKY salary is 7 digit a month lah.You still living in the 1980s is it.
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Originally posted by ☃®:
I am waiting for the day when singapore runs out of space, and see what happens. When all HDB flats are built and no more space left. WIl they stil argue with that lack of space theory?
Sure have land to built more hdb high rise flats (60 storey in future).Where? Cementry area lah.
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Originally posted by keeptouch:
LKY salary is 7 digit a month lah.You still living in the 1980s is it.
that time, my dad said, HDB only cost $40k for 5 rooms -
This is how it works, PR's come in and drive up the prices, And when the market is at its peak,, they sell , possibly to other foreigners for a hefty profit and go back to retire in their own countries. Singapore loses as none of these exploiters will want to take up residency here due to the monetary benefits of their exploitation loophole
This is also the reason why in Australia, if u sell yr home , u need to pay taxes.
I would recommend a housing tax scheme for PRs who sell their home or impose a cap on the selling price. Because of these PR farkers, locals have to pay artificially inflated pricing. -
Originally posted by ☃®:
This is how it works, PR's come in and drive up the prices, And when the market is at its peak,, they sell , possibly to other foreigners for a hefty profit and go back to retire in their own countries. Singapore loses as none of these exploiters will want to take up residency here due to the monetary benefits of their exploitation loophole
This is also the reason why in Australia, if u sell yr home , u need to pay taxes.
I would recommend a housing tax scheme for PRs who sell their home or impose a cap on the selling price. Because of these PR farkers, locals have to pay artificially inflated pricing.
tax "them" heavily or else, "they" speculated until it became a bubble that burst! -
I thinking whether to apply for HDB BTO :(
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last time 1980s 1 flat $70k still a flat
now $270k still a flat, only thing MIW collects more property tax into their coffers.
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This is how it works, ......PR's come in and drive up the prices, And when the market is at its peak,, they sell , possibly to other foreigners for a hefty profit and go back to retire in their own countries. Singapore loses as n()ne of these exploiters will want to take up residency here due to the monetary benefits of their exploitation loophole.....
This is also the reason why in Australia, if u sell yr home , u need to pay taxes....
I would recommend a housing tax scheme for PRs who sell their home or impose a cap on the selling price. Because of these PR farkers, locals have to pay artificially inflated pricing...... -
Originally posted by ☃®:
This is how it works, ......PR's come in and drive up the prices, And when the market is at its peak,, they sell , possibly to other foreigners for a hefty profit and go back to retire in their own countries. Singapore loses as n()ne of these exploiters will want to take up residency here due to the monetary benefits of their exploitation loophole.....
This is also the reason why in Australia, if u sell yr home , u need to pay taxes....
I would recommend a housing tax scheme for PRs who sell their home or impose a cap on the selling price. Because of these PR farkers, locals have to pay artificially inflated pricing......
jack up - speculate -
Originally posted by ☃®:
This is how it works, ......PR's come in and drive up the prices, And when the market is at its peak,, they sell , possibly to other foreigners for a hefty profit and go back to retire in their own countries. Singapore loses as n()ne of these exploiters will want to take up residency here due to the monetary benefits of their exploitation loophole.....
This is also the reason why in Australia, if u sell yr home , u need to pay taxes....
I would recommend a housing tax scheme for PRs who sell their home or impose a cap on the selling price. Because of these PR farkers, locals have to pay artificially inflated pricing......
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Originally posted by sbst275:
last time 1980s 1 flat $70k still a flat
now $270k still a flat, only thing MIW collects more property tax into their coffers.
sori hor, now $270k is a smaller and shorter height flats, can't even compare to those $70k flat, i remember last time i went to my Uncle HDB flat, very big, and each flats is quite far away from each other, very airing too. Today 5 rooms flat is like 4 rooms flat, somemore short short, and if you change cloth, opposite flat also people also can see you, lucky i never live in a flat, so get flatted.Mr. Mah, the ang mo tan, is a shorty, so his idea is to build short short flats, so that HDB can build more flats on top to earn more money. Very clever shorty.
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Originally posted by John Penn:
jack up - speculate
i go my car and take the jack, u can help me change my BM punture tyre??