Question: How do u revalue HDB without hurting SG Property
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My thoughts.....
Don't get me wrong I am not a fan of PAP.....but what I read about the opposition......its more of "election talk" and pour out frustration........
To reclass HDB pricing is easy to talk than do it without hurting the market......not sure how that is going to be done.....I can only thought of 1997 financial crisi where property price drop by 40%. but that is on a regional basis.
As always it is easy to upgrade but to down grade it is aways a bitter pill. The consequence of property price re-valuation not sure in reality how many HDB owner would be willing to take up........
This election will divide the voters between those who have and have NOT.....it would be interesting to see where this end.....
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Originally posted by Arapahoe:
My thoughts.....
Don't get me wrong I am not a fan of PAP.....but what I read about the opposition......its more of "election talk" and pour out frustration........
To reclass HDB pricing is easy to talk than do it without hurting the market......not sure how that is going to be done.....I can only thought of 1997 financial crisi where property price drop by 40%. but that is on a regional basis.
As always it is easy to upgrade but to down grade it is aways a bitter pill. The consequence of property price re-valuation not sure in reality how many HDB owner would be willing to take up........
This election will divide the voters between those who have and have NOT.....it would be interesting to see where this end.....
the value of these hdb have been overpriced in relation to amount of citizens and individuals salary.
if they want high priced housing ,,,try the private condominums and mansions .
hdb if they need pricing to be high then it should go hand in hand with salary increments in relation to salary.
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provide subsidies to couples with the male party who has served NS applying for first flat.
this subsidy has to be more than those provided to FT turned pink ic to show the appreciation for the 2 years males sacrificed.
make FT have to rent from condos or private estates to prevent a case of speculators buying HDB and 1 condo then lease out the HDB to earn rent.
this will lower demand for HDB and thus lower the price
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these are just simplicity of the world view......
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Leave the resale market alone, just focus on new HDBs.
More restrictions on HDBs, not for rentals or investment purpose, it's solely used as accomodations for Singaporeans.
If you want to make investments in real estate, go buy private property.
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There is a tipping price point between HDB flat vs private apartment. It would be impossible to hold down price HDB flat and let private property price goes up.....
What i don't hear in this election is how SG should adapt to the high price of living......
Reverse the pricing could drive out jobs.
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Originally posted by Arapahoe:
There is a tipping price point between HDB flat vs private apartment. It would be impossible to hold down price HDB flat and let private property price goes up.....
What i don't hear in this election is how SG should adapt to the high price of living......
Reverse the pricing could drive out jobs.
Two totally different market segments, have more restrictions on HDB regarding rents and sales.
How could reverse pricing drive out jobs?
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then men will be destroy one another thru greed.
greed is what destroys all nations..be it hitlers germany in conquest of new lands to call their own to chinese communists in china who have too expensive housing for its masses .most now rent flats n hostels while working.meanwhile the flats remain super expensive and empty forever!this is the result of greed. people will be wasted n so will be vast empty buildings.
is this what u wanted life to be?do u want greed to run yer life?is this yer back up plan?think i say!!!!!
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To lower the value of HDB is easy, simply introduce more rulez and restrictions. However, if new HDB flats price drop(let's say 20%), the value of resale HDB will also move down(perhaps 10%), which will hurt the interest of current HDB owners, especially those who are intending to upgrade HDB to condo in future.
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Originally posted by βÎτά:
Two totally different market segments, have more restrictions on HDB regarding rents and sales.
How could reverse pricing drive out jobs?
two segments but sitting on a shared land. share group of people, and source of income.....those factors affecting price hasn't changed.
Its almost as to good as saying price of Oil will get back down to US$25 a barrel -- the answer is --- NO.
The last time property price drop Singapore and the region was in a recession.
I think most of you are talking about how price goes up......I am in no dispute.....Question how do u live from UP and prevent a recession ?
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we have already passed the point of no-return.
to bring flats down to a reasonable level, someone must absorb the losses somehow.
1) the flat-owner. borrowed heavily. can only suck thumb when flat devalue.
2) Banks. Banks write off their losses and absorb the drop in housing price.
3) The government, esp, SLA, refund back the portion of money for "cost of land" to the flatowner, to help offset some of the losses incurred by devaluation.
anyway, someone have to absorb the losses, or future generations will suffer.
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Who do you think profits the most from the high prices? They are the ones who drove the prices sky high to begin with and the ordinary citizens are the ones to suffer the most.
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Allow new applicants flats in shorter term.
HDB is a PUBLIC housing option.Stay true to it's real purpose.
LEASE in 20-30-40-50 years with option to extend lease, cater to occupant needs and how much they want to sink in to renovate their unit..
Once lease is up.. or occupants decide to abandon lease for upgrading or downsizing,( refund remainder).. give the unit back to HDB for re-leasing to other family. Do not allow RESALE by occupants in this scheme.
99 year lease forces occupants to borrow heavily even from gov.. yes we know that's a surefire way of double dipping into our pockets. Who lives till 99 yo.. really...whats the point of taking up such a big burden ?
With a shorter lease.. and lower lease cost.. occupants wont need to borrow so much money nor downpayment just to have a roof over their heads.
Current 99 year lessors can continue to resell their remainder of their lease in open market.. but this should be gradually phase out.
I'm sure gov hav already thought of this.. why they don't allow is what puzzles me...current HDB practise must be hauling in TONS of money for the gov.. that's why they are so reluctant to change ??
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It’s wrong to speculate HDB housing. The HDB housing price must be dropped. Maximum HDB housing price must not be more than $200k. Blame PAP for the losses.
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one of the problems which many ppl din bring out is this.
dual ownership of both HDB and private property
'This will help ensure that buyers purchase HDB flats only when they have the intent of staying in it for long term and ensure equitable treatment for all HDB flat lessees during their MOP,' said an HDB statement. An HDB owner will also not be allowed to own private properties during the MOP.
Currently, buyers of subsidised HDB flats are not allowed to own a private residential property within the five-year MOP. On the other hand, buyers of non-subsidised flats can concurrently own a private residential property during the MOP, as long as they live in the HDB flat.
In summary, after you stay in your new subsidies flats for 5 years of MOP( minimum occupation period), you can buy a condo and own your HDB flats at the sametime. do you know any friends of your doing this? personally i know a few.
that we had to go back to HDB basics. what is HDB policy? i would support that all HDB owners whether subsides or no subsidies could not own HDB flats. If they wish to do so, they had to sell their HDB flats within eg 1 year timeframe. HDB should never be allow to speculate. there are more needy couples out there. HDB should not be use as a tool for excessive financial gains.
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Would re-value of HDB price trigger deflationary effect in Singapore and resulted in recession.....?
I am not sure you can hold all other price unchanged....while holding price of flat down.
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add up all the individual debt n see wat we got first
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i would rather HDB prices go up then go down! see below. No government can predict the demand of housing in short period. in long period say 5 years, may be, In financial tsunami, few people dared to buy HDB. Then, after recovery, the accumulated purchasing power released, like a broken dam. 2. dunt blame PR. they only own about 5% of all 850,000 resale units. This figure accumulated in the past few decades, not within the past few years. blame the GDP growth is so good. If the economy is bad and high jobless rate, price sure go down and lot of below valuation sales! i would rather HDB prices go up then go down! 3. One sq foot of HK new private flats is S$3000 to 3500!! u read correctly, Lions Rise in Wong Tai Sin public housing and not from away fr the famous temple. Why? HK canceled HOS--like HDB--in 2002. Besides, the private flats completion (SG TOP issued) is around 10,000 flats a years. HK 7 million population. SG 5 million.
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Originally posted by lionnoisy:
i would rather HDB prices go up then go down! see below.
No government can predict the demand of housing in short period.
in long period say 5 years, may be,In financial tsunami, few people dared to buy HDB.
Then, after recovery, the accumulated purchasing power released, like a broken dam.2. dunt blame PR. they only own about 5% of all 850,000 resale units.
This figure accumulated in the past few decades, not within the past few years.
blame the GDP growth is so good.
If the economy is bad and high jobless rate, price sure go down and lot of below valuation sales!
i would rather HDB prices go up then go down!3. One sq foot of HK new private flats is S$3000 to 3500!!
u read correctly, Lions Rise in Wong Tai Sin public housing and not from away fr the famous temple.Why? HK canceled HOS-
like HDB-in 2002.
Besides, the private flats completion (SG TOP issued) is around 10,000 flats a years.HK 7 million population. SG 5 million.
can u understand the term "PUBLIC HOUSING"?
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Originally posted by lionnoisy:
i would rather HDB prices go up then go down! see below.
No government can predict the demand of housing in short period.
in long period say 5 years, may be,In financial tsunami, few people dared to buy HDB.
Then, after recovery, the accumulated purchasing power released, like a broken dam.2. dunt blame PR. they only own about 5% of all 850,000 resale units.
This figure accumulated in the past few decades, not within the past few years.
blame the GDP growth is so good.
If the economy is bad and high jobless rate, price sure go down and lot of below valuation sales!
i would rather HDB prices go up then go down!3. One sq foot of HK new private flats is S$3000 to 3500!!
u read correctly, Lions Rise in Wong Tai Sin public housing and not from away fr the famous temple.Why? HK canceled HOS-
like HDB-in 2002.
Besides, the private flats completion (SG TOP issued) is around 10,000 flats a years.HK 7 million population. SG 5 million.
You are another self serving property owner arn't you .
Go to youtube and do a search for HONG KONG CAGE DWELLERS.. or HONG KONG CAGE HOMES.
That will tell you what to expect when housing price goes through the roof.
Be careful that you wish for dude.. you may one day end up renting one of those stinking cage in your old age.
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Originally posted by lionnoisy:
i would rather HDB prices go up then go down! see below.
No government can predict the demand of housing in short period.
in long period say 5 years, may be,In financial tsunami, few people dared to buy HDB.
Then, after recovery, the accumulated purchasing power released, like a broken dam.2. dunt blame PR. they only own about 5% of all 850,000 resale units.
This figure accumulated in the past few decades, not within the past few years.
blame the GDP growth is so good.
If the economy is bad and high jobless rate, price sure go down and lot of below valuation sales!
i would rather HDB prices go up then go down!3. One sq foot of HK new private flats is S$3000 to 3500!!
u read correctly, Lions Rise in Wong Tai Sin public housing and not from away fr the famous temple.Why? HK canceled HOS-
like HDB-in 2002.
Besides, the private flats completion (SG TOP issued) is around 10,000 flats a years.HK 7 million population. SG 5 million.
You are stupid!!!
Hong Kong public housing has discount rate.
In Phase 19C, the Housing Authority introduced a new flexible discount rate system, allowing successful applicants to choose from three discount rates equivalent to 10% above or below the base discount rate apart from the existing 50% discount on full market value at the time of price fixing. During application, the potential buyers were also asked about their preference on the discount options. Almost 50% of the applicants responded to the question, amongst which 76% chose 10% above the base discount rate (60% off), 18% chose base discount rate (50% off) and 6% chose 10% below the base discount rate (40% off).
http://www.housingauthority.gov.hk/en/aboutus/news/pressreleases/0,,2-0-2381,00.html
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Lets not compare with other country property issue, cos if you do, there will be no ending social aspects to bring out, each country has it different way of determing the price of their housing.
Tho i never lived in HDB before, but when i studied history in primary school, I learned one objectives that HDB once set and promised, and that could supersede any arguement of HDB prices against a typical sg citizens paid.
"The main Objective of Building flats by HDB for citizens is for all to hv a roof on top, a sense of ownership and belonging, we shall make it affordable to all workers of Singapore"
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HDB for goodness sake, is for you to live in, build a family and live on happily everafter, I do not understand, why it had become a business transaction and peoples are worrying about drop in properties prices which is not of HDB concern.
That is the problem of having a capitalise govt who think of business more than the daily bread and butter issues, and as time goes by, the citizens also become like them, the culture of business, a culture of self interest, a culture of money minded.
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Maybe MBT will reconsider his "housing is affordable!" mantra after his mandate took a hit this GE.
The whole is becoming ridiculus. -
property tax just increase by 20%.
so fast.