Property prices of Opposition wards are NOT lower
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PAP lied to us once again :(
http://www.bernardleong.com/2011/05/01/are-property-prices-affected-by-who-you-vote-for/
Recently, Minister Mentor Lee Kuan Yew mentioned that the property prices of Aljunied GRC will go down if the voters of that constituency vote for the opposition. In his words, “If you have the wrong government, your property prices go right down. Ask why in Hougang the property is not as high as their neighbours.” Given the residents of Hougang SMC has been voting for Mr Low Thia Khiang for the past 20 years and assuming Mr Lee’s comments to be true, the direct inference is that the value of the HDB flats for the Hougang SMC should now be far lower than similar flats in the same neighborhood placed under Aljunied GRC.
The best way to do this is to find out how the prices of the HDB flats in Hougang SMC and Aljunied GRC have fluctuated over the past twenty years. This dataset is difficult to collect and requires HDB to provide them. However, it turns out that we can look at the current 1-year resale transacted prices of flats in both areas and answer the question to a large extent. The aim of this HDB e-service is to “assist potential resale flat buyers and sellers in making informed decisions, taking into account the prevailing trends in the HDB resale market” (source: HDB). So, we did the following by looking at 2 sets of data: 3 room flats & 4 room flats from Hougang Ave 5 (under Hougang SMC) and Hougang Ave 8 (under Aljunied GRC) and computed the median prices. All transactions found in the data set are arms-length transactions which means that we exclude resale transactions that may not reflect the full market price, for example, I buy a flat from my parents at a reduced resale flat price. Hence HDB’s data is indicative of the real market prices. Here’s what we found:
Type of flats: Hougang Ave 5 (Hougang SMC) from 1983
Median Resale Price for 3 rooms (Range): S$291K (S$245-330K) 46 records
Median Resale Price for 4 rooms (Range): S$354K (S$340-527K) 26 records
Type of flats: Hougang Ave 8 (Aljunied GRC) from 1985-1889
Median Resale Price for 3 rooms (Range): S$280K (S$220-326K) 87 records
Median Resale Price for 4 rooms (Range): S$360K (S$290-420K) 138 records
Source: Resale Flat Prices e-service, HDB
From the above table, the resale flat prices did not vary signifcantly. In fact, although flats from Hougang Avenue 5 (under Hougang SMC) were older than those from Hougang Avenue 8 (under Aljunied GRC), they seem to fetch higher resale prices. Do note that the Ministry of National Development control both the demand and supply of public housing in Singapore. We all know that buying a flat is an important decision for most families. Hence it is reasonable for us to assume that a couple will examine all the factors which will affect the value of the flat they intend to buy, for example, accessibility to transport, amenities, the condition of the flat and the living conditions in the neighbourhood. If MM Lee’s assertion is true, very few people will buy flats in Hougang Ave 5 and consequently the resale prices of flats in Hougang Ave 5 should not be above those in Hougang Ave 8 under Aljunied GRC. The data seems to contradict what MM Lee has said about flats in Hougang SMC falling below flats in Aljunied GRC. Perhaps the ruling party can provide the facts and figures as to why they assert that property prices under Aljunied GRC will fall if the opposition party wins on May 7. -
dun fall for property talk thing
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Aljunied GRC has been developing the past 5 years, how undeveloped can LKY make it in the next 5 years?
The only possiblities I can think of is no one sweep the void decks, and the dump truck only comes once a week.
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Haha... Self pwned.
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Hougang and PTPS is not a slum !!! That's for sure.
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If property price goes down in opposition ward, I don't mind moving into opposition ward to live.
At least it solve one of the greatest problem in singapore. -
Originally posted by Darkness_hacker99:
If property price goes down in opposition ward, I don't mind moving into opposition ward to live.
At least it solve one of the greatest problem in singapore.
I ask you if property prices increase you sell your house live where?There was a time everyday got agents call me ask me wan sell house ma.
I replied sell live where?
Property prices do not benefit normal people unless they are those rich ones who won many private property like condo terrence house and bungalow.
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Woohoo.
If prices drop, all young couples will be able to get their dream homes sooner rather than later.
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Originally posted by charlize:
Woohoo.
If prices drop, all young couples will be able to get their dream homes sooner rather than later.
Which is good news. HDB is for living not speculating prices and sell.HDB should create affordable housing.