HDB Flats --- Are they becoming less affordable?
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titank:
Imagine that Dawson Flats at around $650K. Income limit is $8k per family. How many people can really afford the kind of flat? Everyday have to eat onions for 3 meals? :?:
with money made from selling the previous property, why not? Sell high, buy high...that's how it got to such a crazy level.
Nevertheless, as mentioned earlier, it's supply and demand....there are obviously people with such money, or else it wouldn't have reached such a level in the first place.
Anyway, a $650K flat, should be roughly $2K a month for 30 years....for a young family making around $8K a month, ok mah....maybe not much left to splurge, but definitely don't need to live hand-to-mouth....
If they had offset that price with money from a previous sale, then it's even easier....nowadays $8K income between 2 working parents, is not difficult to achieve. -
titank:
Imagine that Dawson Flats at around $650K. Income limit is $8k per family. How many people can really afford the kind of flat? Everyday have to eat onions for 3 meals? :?:
Obviously there were people who could afford, I understand these units went like hot cakes? If one has to eat onions to afford Dawson flats, then one should probably set one's sights a little lower. -
dun think they have to eat onions lah.
Used to wonder how pp can QUEUE to pay these crazy prices. Then I realised it’s FMM (father mother money) at work. There was a case where the aged parent sold off his tiong bahru flat to help pay for his daughter’s pinnacles (?) flat (planning to stay with her).
Anyhow, on hdb in SG, I never feel that I OWN my flat. it’s on 99 year lease, so I’m just paying rental. Now living in a very old flat, where rooms are big big, am dreading the day govt chases me out and gives me a pigeon hole to stay in. -
Let's say for young couple each earn $4,000.Total $8,000. After CPF how is the take home pay? Assuming both of them are below 30 years old.
Flat for Dawson assuming $650K. Can take maximium loan $650K?
We shall then see rally have to eat onions a not by putting up a case study. -
titank:
titank, you are missing the point. The prices are what they are, quite simply because people are PAYING those prices. If a developer puts up a condo for sale, at a price of $1million per unit, that remains a theoretical price point until someone actually pays it, then it becomes a transacted price. If however, it is unaffordable, and nobody buys, then either its stays a theoretical price, or the developer drops it to a more affordable level, and somebody buys it, say @ $800,000, then that is the real price.Let's say for young couple each earn $4,000.Total $8,000. After CPF how is the take home pay? Assuming both of them are below 30 years old.
Flat for Dawson assuming $650K. Can take maximium loan $650K?
We shall then see rally have to eat onions a not by putting up a case study.
Yah, HDB can put a sticker price of $650k on Dawson flat, you are free to choose not to have to eat onions by walking away and buying something cheaper...... -
:? Hmmm.... I wonder whether I should sell now since the price is good.. :evil:
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3Boys:
well said. Nobody's saying HDB prices are cheap, but obviously they are \"affordable\", at least quite alot of people can definitely afford them, with relative ease.
titank, you are missing the point. The prices are what they are, quite simply because people are PAYING those prices. If a developer puts up a condo for sale, at a price of $1million per unit, that remains a theoretical price point until someone actually pays it, then it becomes a transacted price. If however, it is unaffordable, and nobody buys, then either its stays a theoretical price, or the developer drops it to a more affordable level, and somebody buys it, say @ $800,000, then that is the real price.
Yah, HDB can put a sticker price of $650k on Dawson flat, you are free to choose not to have to eat onions by walking away and buying something cheaper...... -
3Boys:
the $8k ceilling only applies now at flat application. by the time the flat is ready say in 5 yrs time some of these couples already exceeded the income ceiling and can comfortably pay for the flat. they are likely to be those who intend to cash in on the resale market after the 5 yrs MOP as dawson area are supposedly very hot in demand.titank:
Imagine that Dawson Flats at around $650K. Income limit is $8k per family. How many people can really afford the kind of flat? Everyday have to eat onions for 3 meals? :?:
Obviously there were people who could afford, I understand these units went like hot cakes? If one has to eat onions to afford Dawson flats, then one should probably set one's sights a little lower. -
buds hubs:
:? Hmmm.... I wonder whether I should sell now since the price is good.. :evil:
unless you have some place to bunk in, if not you sell high, likely you need to buy somewhere else at high price too. -
hmm, that beats sell low, buy high.
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