8 in 10 HDB flat “owners†find their 99-year leasehold flats
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8 in 10 HDB flat “owners” find their 99-year leasehold flats “value for money”
February 19, 2010
According to a household survey conducted by HDB in 2008, over eight in ten HDB flat owners find their flats “value for money”.
The key reasons quoted are appreciation in value, good location and proximity to facilities.
About 85 per cent of Singaporeans live in public housing built by government agency HDB which falls under the purview of the National Development Ministry.
“Residents attributed their pride mainly to homeownership as they were proud of their ability to own a flat,” said an HDB statement.
There is a pervasive public misperception that Singaporeans really “own” their HDB flats.
The high rate of “home ownership” in Singapore has been used repeatedly by the ruling party to trumpet its own “accomplishments”.
In reality, Singaporeans are only leasing the flats from HDB for a period of 99 years.
When one buys a private condominium, one has to sign a “Sales and Purchase” agreement from the developer.
However, in the case of Build-to-Order flats, the agreement is termed as “Agreement for Lease” which essentially means that one is leasing the flat from HDB. (read more here)
Furthermore, the flats are subjected to many restrictions not found in the private sector such as an ethnic quota when selling them and a minimum five-year period of residency.
Another misperception is that the rising prices of flats helps to “create wealth” for Singaporeans, a message drummed home repeatedly by PAP leaders over the years.
A research done by two NUS professors NUS professors Abeysinghe and Gu Jiaying in 2008 showed clearly that “higher property prices, instead of creating a wealth effect, exert a significant and negative “price effect” on consumption expenditures leading to a fall in the average propensity to consume.” (read article here)
As house prices go up, the increase in the value of housing assets is accompanied by a concurrent rise in the financial liabilities of households, in the form of higher downpayments for purchase of residential properties and burgeoning housing loans.
Unless one emigrates or downgrades to a smaller flat, there is no way one can unlock the asset value inherent in the flat.
The prices of HDB flats have skyrocketed in recent years fueled by increasing demand from immigration in the face of limited supply of flats.
Based on the findings, it appears that many Singaporeans are still unaware of the precarious situation they are in.
It is strange that they will find their flats “value for money” when they can easily afford a bungalow in Australia, Canada and elsewhere with the kind of money they are paying for them in Singapore.
http://www.temasekreview.com/2010/02/19/8-in-10-hdb-flat-owners-find-their-flats-value-for-money/
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Will go up somemore one...
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sporean seller happy
prc buyer okay lah
sporean buyer face black black
if prices keep going up
hdb is an important asset to many sporean
pap use this to win many votes
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Originally posted by AH TRUTH 1:
sporean seller happy
prc buyer okay lah
sporean face black black
if prices keep going up
hdb is an important asset to many sporean
pap use this to win many votes
Ah truth's last sentence talk cock and sing song. -
Originally posted by Herzog_Zwei:
Ah truth's last sentence talk cock and sing song.
it's free to talk cock and sing songthey mention i upgrade this and that
so that next time, you all could fetch a higher after selling your hdb flats
after selling stay where, cannot buy smaller flat
if you sell 5 room
your monies also put into cpf acc what
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Happy??? The HDB buyers are just the lease holders not the owners
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Originally posted by AH TRUTH 1:
it's free to talk cock and sing songthey mention i upgrade this and that
so that next time, you all could fetch a higher after selling your hdb flats
after selling stay where, cannot buy smaller flat
if you sell 5 room
your monies also put into cpf acc what
could consider ubin - free swimming pool - the sea, free transport - ride your own bicycle, free fruits - grow your own fruit trees
free exercise
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Originally posted by Fantagf:
Happy??? The HDB buyers are just the lease holders not the owners
Every1 thought they own a home when they are only leasing their flats.........So all singaporeans do not really own an actual home>?????
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Originally posted by noahnoah:
Will go up somemore one...
Free hold leh, so free to hold for 99 years, where to find, sure will go up want lah, so that can extend the holding -
Originally posted by AH TRUTH 1:
could consider ubin - free swimming pool - the sea, free transport - ride your own bicycle, free fruits - grow your own fruit trees
free exercise
so free until he replied his own post...really freehold -
Originally posted by Ionlytalknoaction:
Every1 thought they own a home when they are only leasing their flats.........So all singaporeans do not really own an actual home>?????
I was once fooled to believe in that till a housing agent here told me otherwise. -
Originally posted by angel7030:
so free until he replied his own post...really freehold
Stay out of this Speaker's Corner when all you can contribute is your daily garbage of driving every thread off-track.Your interest here is to be a troll - by injecting your stoooopidity into every thread and make it controversial to drive the thread off track.
You have been repeatedly told to return to Taiwan to get your daily orgasmic fix needed by your ego as an 'Attention Seeking Whore'.
Stay out of Singapore Politics.
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I am in the real estate business in PRC. We are currently building abt 2 billion USD and for building a m2 of apt cost, this is the fact and figures.
1) It takes abt 6-8 months to complete building 40-50 stories building (including finishing and fitting).
2) Land cost depends on city, in Beijing app 100SGD to 500SGD
3) Cement and steels cost app 200SGD to 500SGD
4) Electrical and others 100SGD to 200SGD
5) fiiting and fixtures 200SGD to 1000SGD.
6) Misc and government charges 100SGD to 300SGD
Building quality has significantly improved over the years and for a BTO project in Singapore the PRC cost abt 800SGDm2, which means, exclusing land cost, a 100m2 apt cost abt 80K SGD.
Hence, for every new flat built by HBD, the government will profit abut 300K SGD as 'land cost'.
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wha 300k per flat, if they said build 1,200 BTO flats, that will be alot,..3.6 millions...wow, just enuf to pay LKY per year.
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Originally posted by Wmyongj:
I am in the real estate business in PRC. We are currently building abt 2 billion USD and for building a m2 of apt cost, this is the fact and figures.
1) It takes abt 6-8 months to complete building 40-50 stories building (including finishing and fitting).
2) Land cost depends on city, in Beijing app 100SGD to 500SGD
3) Cement and steels cost app 200SGD to 500SGD
4) Electrical and others 100SGD to 200SGD
5) fiiting and fixtures 200SGD to 1000SGD.
6) Misc and government charges 100SGD to 300SGD
Building quality has significantly improved over the years and for a BTO project in Singapore the PRC cost abt 800SGDm2, which means, exclusing land cost, a 100m2 apt cost abt 80K SGD.
Hence, for every new flat built by HBD, the government will profit abut 300K SGD as 'land cost'.
WOW! u got a 2billion USD project business in PRC...please PM me soon
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but if you are just an executives, forget it..
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Originally posted by angel7030:
wha 300k per flat, if they said build 1,200 BTO flats, that will be alot,..3.6 millions...wow, just enuf to pay LKY per year.
Originally posted by angel7030:WOW! u got a 2billion USD project business in PRC...please PM me soon
Originally posted by angel7030:but if you are just an executives, forget it..
Three posts made without any purpose - must surely confirm the existence of a sick mind that demands persistent attention to its cravings for daily orgasmic fixes needed by an 'Attention Seeking Whore'
Were there any contribution to the thread in any ways ?
If the intention of the Taiwanese 'hum' is to prove itself as a dumb ass - it has proven itself over 19,207 times, as of the last count shown on this Page.
Stoooopid Taiwanese 'hum' - stay out of Singapore Politics.
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atobe,
most taiwanese girls arent so money faced like angel70.they are in fact gentle and friendly even though they are way taller and well built than angel7030 in australia.yes...they do have taiwanese coming to oz to work as work -holiday visa holders.
angel7030 looks like she was conned and abused by every uneducated hokkien pirated cd seller and pirated cd shop owner since early times in singapore.dont blame her if she seems to behave like bad cigarette smoke.
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I agreed hor, why you call herself Angel? b'cos in reality she is no angel lor. Somemore only 21 yrs old, young baby never see the real world yet. Somemore little bit little call for her maid to take things. I very worried for Angel parents, hopely he don't turn up to be a bimbo
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Angel is not any gal.. He is Long John silver and a taiwanese guy who desperately try to be a gal and please the old man(Aka Lao Lee)
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wha lau, how come all got nothing better to do and talk about me ar??? HDB leasehold 99 years does not mean that you cannot buy back the leasing, you can also reduce to 60 years and get back your money on a monthly basis, so it is good for old folks like ah peks and ah mas here.
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and if HDB goes up and up...ah peks and ah mas will be more and more happier...no wonder i see many dancing cowboy dance at my CC,...they are so happy...
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and if HDB goes up and up...ah peks and ah mas will be more and more happier...no wonder i see many dancing cowboy dance at my CC,...they are so happy...
The weather so hot, got people dancing cowboys meh? eat full got nothing better to do?
Why so such a joker ah? HDB go up, so? Only paper assets mah
You suggest ah pek & ah ma sell the flats lived at void decks is it?
Very funny leh you hor
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Originally posted by Atobe:
Three posts made without any purpose - must surely confirm the existence of a sick mind that demands persistent attention to its cravings for daily orgasmic fixes needed by an 'Attention Seeking Whore'
Were there any contribution to the thread in any ways ?
If the intention of the Taiwanese 'hum' is to prove itself as a dumb ass - it has proven itself over 19,207 times, as of the last count shown on this Page.
Stoooopid Taiwanese 'hum' - stay out of Singapore Politics.
Actually, the best way is to just ignore her, and not respond to her postings.
19000+ useless postings and counting. And when she replies to you, she has absolutely no shame and continues to contribute total rubbish.
Coming back to HDB, this is what I feel. It's a lack of choice in Singapore. Most people have to buy a HDB, and in Singapore, we do not believe in rental (everyone prefers to own). In addition, the property market is artificially controlled by the govt (HDB is used to control the prices in Singapore), therefore they are able to keep the prices high.
In fact, from my study of the markets in HK, Singapore, UK, Australia, USA, Singapore is the only country where the govt has almost direct control of the market.
In USA, I am enjoying a huge home with a nice backyard, and driving a sports car. Restaurants prices are more affordable than in Singapore. Groceries are more affordable than in Singapore. It's so much unlike in Singapore, where everything is artificially kept at a high price so much so that it's not worth the $$$ to own.
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Originally posted by soul_rage:
Actually, the best way is to just ignore her, and not respond to her postings.
19000+ useless postings and counting. And when she replies to you, she has absolutely no shame and continues to contribute total rubbish.
Coming back to HDB, this is what I feel. It's a lack of choice in Singapore. Most people have to buy a HDB, and in Singapore, we do not believe in rental (everyone prefers to own). In addition, the property market is artificially controlled by the govt (HDB is used to control the prices in Singapore), therefore they are able to keep the prices high.
In fact, from my study of the markets in HK, Singapore, UK, Australia, USA, Singapore is the only country where the govt has almost direct control of the market.
In USA, I am enjoying a huge home with a nice backyard, and driving a sports car. Restaurants prices are more affordable than in Singapore. Groceries are more affordable than in Singapore. It's so much unlike in Singapore, where everything is artificially kept at a high price so much so that it's not worth the $$$ to own.
Such a lifestyle would be clearly unsustainable in Singapore though. And unless the United States really makes an geninue effort(which i doubt) towards sustainable growth, won't last long in the USA either.From a environmental perspective i prefer the current urban planning. Concentrate the population and leaving the island's jungles and reservoirs untouched.
Could you give details to how exactly is prices kept artificially high ? I mean, surely a large amount of food that you buy in the US is growned locally rather than imported, would that have accounted for its cheap price?