How much is enough for retirement in Singapore?
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http://www.todayonline.com/singapore/no-more-6-tenants-be-allowed-live-4-room-and-larger-hdb-flats
Changes to HDB rental rules -
Zeit:
Unfortunately HDB charged buyers at the pre-Asian Financial Crisis rate, as building costs didn't drop...Nothing was adjusted after the crisis when you took over the keys in 1999.
As this is a huge development (>15blocks of exec, 5 & 4 room flats), many of the units were not taken up the year it was launched. I heard HDB had lowered the prices a year after i have shifted in.Fairy:
[quote=\"lee_yl\"]Fairy,
What was the highest ever transacted resale price around your neighborhood, say in year 2013? I tend to agree with MP that for the past 20 years, you could have once or twice covered losses and moved on which you didn’t.
Another reason could be that you bought at the peak of 1996/97 just before the Asian Financial Cisis. Sometimes, entering the property market at the wrong time can be painful.
There are people whom I know, who didn’t make any profit or even lost money for their HDB unit, but since they had no choice, they just bit the bullet and relocated.
To be honest, not everyone earns money on their property investment. While we only hear people who boasted of the profits made, those who suffered losses generally just keep quiet.
One of my neighbour had cut her loss and sold her EA for $380k years ago and upgraded to full condo in town. They should be laughing all the way to the bank now as they bought the condo very cheap. The family who bought that unit stayed for 2 years and managed to sell the unit at $500k to a young couple whose parents are staying in the same block.
The highest ever transacted for the EAs here was $600 (only 1 transaction, years ago).
The problem I noticed from my cycling trips to Punggol was that HDB started building from the inside and along TPE, leaving vast expanse of state lands vacant near the MRT/Central area where Waterway Point now sits. Tough luck if your Design N Build Plus was further inside, away from the prime plots near MRT station. Those flats of the same room types nearer to MRT and which MOPed later will fetch higher prices. Every family wants to buy newer flats with longer leases, with better designs and that are in close proximity to MRT.
Your friend did the smart thing by letting go of their flat early. When you're selling at a loss, always remember you're also gaining by buying somewhere else in a better location cheap cheap at the same time. At the end of the day, location location location. For young couples who're working, it's definitely more convenient to be situated nearer to CBD.
With the announcement of the new Punggol Digital District, you can perhaps wait a while more as more PRs will definitely flock into Punggol and SK to purchase permanent place of residence. SIT campus won't drive up demand I suppose, cos many students will head home to sleep, or are entitled to halls of residence, or colleges will provide free shuttle buses, etc. Graduate / Int'l student numbers have dropped significantly in the last few years due to complaints by Singapore Kiasuparents.[/quote]Hi Zeit,
If only i am staying in Punggol/Sengkang. The appreciation in value of the flats there is quite good. My place is very far from there. I often wonder if the capital appreciation of the properties has anything to do with who our MP is. -
Fairy:
Oops, I got confused by a few mentions of NE in this thread. $430k for exec in the outskirts was considered high in 1996. I recalled 1995-1996, brand new EAs only cost $300k.
If only i am staying in Punggol/Sengkang. The appreciation in value of the flats there is quite good. My place is very far from there. I often wonder if the capital appreciation of the properties has anything to do with who our MP is.
You must have read in recent months that Pasir Ris Elias CC and Punggol just launched something? Tampines had a new community thingie last year - Lifestyle Centre? Yishun just expanded Northpoint City which is teeming with life now. Bedok also opened a Heartbeat Hub by PM?
You don't see opposition MPs at opening ceremonies of libraries, CCs or multipurpose sports hub. You hardly see any shadow grassroots advisors opening anything big either, except to give out bursaries discreetly. The key driving forces largely come from small-medium boutique developers who bought newly released parcels in the opposition wards.
LUP, HIP are national schemes that all precincts must queue up for. I wouldn't say they were punished because they voted for the opp and therefore were placed at the back of the queue, as I had seen PAP strongholds only getting their LUP and HIP recently. I believe they look at the individual clusters' leases and allocate slots accordingly. But Potong Pasir might have been given priority after PAP won it back. Haha...
SERS too; not every block gets that because of the national MasterPlan. The Hougang residents thought they were being bullied because they weren't properly informed their blocks had long been slated for demolition, just like many vintage 10-storey HDB in PAP turfs. A few vintage blocks in Hougang are untouchable.
I'm not sure what's the cause of the stagnation. Could be because they didn't have KPE in the early years. NEL came a decade later. Citybound NE flyover was built later. Lack of PAP-linked supermarkets and childcare centres? -
Learn how to retire smart with Lorna Tan's new book
http://www.straitstimes.com/business/invest/learn-how-to-retire-smart-with-lorna-tans-new-book -
Does anyone engage the services of a retirement planner?
I attended a Phillip Capital talk this afternoon titled "retirement planning with dividend income"
However, the talk did not dish out specific guidance on what type of financial stocks/instruments to buy to maintain a steady stream of dividend income. -
Jennifer
Nobody knows your preference and finances as well as you do. I take charge of my finance and retirement needs myself, relying on some finance products.
As long as we live within our means, we will be fine -
Jennifer:
Only the “ sales team” will intro h what products based on risk appetite analysis .Does anyone engage the services of a retirement planner?
I attended a Phillip Capital talk this afternoon titled \"retirement planning with dividend income\"
However, the talk did not dish out specific guidance on what type of financial stocks/instruments to buy to maintain a steady stream of dividend income.
No sales will tell a guaranteed product fr stock, bond etc all these involves certain risk - be willing to eat losses n come profit gain
The no risk are fixed dep , sg savings bond . Or buy fr insurance company those short term saving plans eg 3, to 5 yrs with guaranteed capital n interest - must commit til end . But all the payouts are small lor COZ near zero risk.
I won’t take out my extra cpf money at retirement age even I m above minimum sum , the interest pay out should still b highest compared to market rate.
My plan is building current capital on hand which I can feel n touch ( cpf build up is another well of bonus to me ,am not taking it into calculation of my retirement total now) Bcoz of such plan n thinking , I still need to work to build furiously esp these few years .then I think I need to slow down engine once I an 50 ,to pamper n do justice to my body n mind for working hard. Nowadays I get stress n panic easily ... prob hormones adjustment n long grief after my dad dismissed.
see how lar ... I remind myself to count my blessings fr above too
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MP
I laughed when you mentioned you would work to build furiously these few years …
Am 50 this year and am working at my own pace or otot. Even if boss instructs this and that, if I can escape, I will because as am hanging onto this job only for the medical benefits.
Money is never enough and it is the more the merrier. How many more years am I going to chase the extra zero in my bank accounts when I know that when I close my eyes, I can bring only a set of clothes am putting on? -
this is a question I dread most.
for now, I am relieved the new flat will be fully paid up…although there is not much after renovation.
my concerns are health issues…as we age, parts of the body start to have wear and tear.
medical fees are going up. -
Janet
Yes, medical expenses is my greatest fear.
If one is old and healthy, he will still be able to work eg as s cleaner or odd job to make ends meet.
If one is old and sick, no hope
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