Property Views

[zac's mum]

I have several of my same age friends, guys who are still single, once they turned 35, immediately went to buy 4 room resale HDB with their good salary. Stay in one room and rent out the rest of the rooms. Recouped their monthly mortgage easily and get social interaction with tenants too. It’s like a hostel environment but they are the boss. Win-win.

[Coolkidsrock2]

I have some friends who will buy a condo every couple of years and leave it to self-finance. Retire around 40.

[janet88]

zac's mum\" post_id=\"1927623\" time=\"1565320948\" user_id=\"53606:[quote=\"zac's mum\" post_id=1927623 time=1565320948 user_id=53606]
I have several of my same age friends, guys who are still single, once they turned 35, immediately went to buy 4 room resale HDB with their good salary. Stay in one room and rent out the rest of the rooms. Recouped their monthly mortgage easily and get social interaction with tenants too. It’s like a hostel environment but they are the boss. Win-win.[/quote]

those who are intelligent will get a resale flat when they turn 35. I know of a few singles who bought 4 room resale flats doing that. they don't have to worry about sky high prices of owning a condo.

[Coolkidsrock2]

lee_yl\" post_id=\"1927620\" time=\"1565320622\" user_id=\"17023:

Coolkidsrock2\" post_id=\"1927616\" time=\"1565319158\" user_id=\"48901:

I notice that some of my younger colleagues who are jumping straight into condos or landed.

Single, below 35, will not know if they will have considered HDB instead.

The line between being ambitious and reckless is very fine.

In year 2017, a relative (who is single) was deciding between a resale 3room next to Punggol MRT or a small condo at Waterway Point. She later chose 3rm which she paid almost $400K. I think today, Waterway Point Condo seems to have appreciated in value more than the 3rm flat.

Risk appetite is bigger when young. It is the same for myself when younger. Need to find own risk/reward balance. At current age and stage, I cannot afford to lose but cannot be overly-conservative as well, in case cannot keep up with inflation.

In terms of appreciation, think HDB is usually less than private. But the outlay is lower.

[floppy]

lee_yl\" post_id=\"1927620\" time=\"1565320622\" user_id=\"17023:

Coolkidsrock2\" post_id=\"1927616\" time=\"1565319158\" user_id=\"48901:

I notice that some of my younger colleagues who are jumping straight into condos or landed.

Single, below 35, will not know if they will have considered HDB instead.

The line between being ambitious and reckless is very fine.

In year 2017, a relative (who is single) was deciding between a resale 3room next to Punggol MRT or a small condo at Waterway Point. She later chose 3rm which she paid almost $400K. I think today, Waterway Point Condo seems to have appreciated in value more than the 3rm flat.

For Watertown (which is the rightful name for the “Waterway Point Condo), it depends on what your younger relative was looking at and when she had decided to buy.

If she had bought a 3br / 2br in 2017 or earlier, she would be very lucky if she is able to resell it at the same price or slightly higher today. Watertown isn’t a great investment but all things considered, it should be getting better given that nearby EC / condos are approaching Watertown level.

[floppy]

Generally, now is the right time to buy HDB if you thinking of living in, ie not for investment, as prices have been heading south or have remained stagnant for a while. Frankly, prices are pretty reasonable. If people are buying, and thinking of ‘appreciation’, it’s worthwhile noting that these are public housing. It’s the wrong instrument (it’s the Holy Goh fault for introducing this ‘idea’ that HDB would be an appreciating asset).


For investment, private property are probably the better bet (and rightfully so). I agree with the opinion that private properties prices are unlikely to drop much (in fact, has risen, albeit modestly vs HDB despite whatever measures the G had introduced). I bought my property around 3 years ago at ~$9xx psf (around the same price at launch). Shifted in a year later and is now reselling at $1.2k psf today. Part of the price movement upwards are caused by new launches in the same or nearby district. Given the projects in the pipeline island wide, don’t expect private property prices to drop anytime soon (short of a full blown recession or economy collapse). Prices will probably maintain it’s current course of small, incremental increases.

[lee_yl]

Coolkidsrock2\" post_id=\"1927637\" time=\"1565327067\" user_id=\"48901:

lee_yl\" post_id=\"1927620\" time=\"1565320622\" user_id=\"17023:

[quote=Coolkidsrock2 post_id=1927616 time=1565319158 user_id=48901]I notice that some of my younger colleagues who are jumping straight into condos or landed.

Single, below 35, will not know if they will have considered HDB instead.

The line between being ambitious and reckless is very fine.

In year 2017, a relative (who is single) was deciding between a resale 3room next to Punggol MRT or a small condo at Waterway Point. She later chose 3rm which she paid almost $400K. I think today, Waterway Point Condo seems to have appreciated in value more than the 3rm flat.

Risk appetite is bigger when young. It is the same for myself when younger. Need to find own risk/reward balance. At current age and stage, I cannot afford to lose but cannot be overly-conservative as well, in case cannot keep up with inflation.

In terms of appreciation, think HDB is usually less than private. But the outlay is lower.[/quote]I have a friend who is a savvy investor and 10 years my senior, said the same thing. She said for her friends and herself, their risk appetite reduced as their age increased. Haha, but my risk appetite is still quite big. I do agree that being overly conservative in investment, can’t keep up with inflation.

Now I recall why in the end my relative went for a resale HDB instead of a private condo. Because if she were to go for a HDB, 5 years later she could rent out her HDB, buy and stay in a condo. But if she were to own a condo first, she could no longer buy a HDB (unless she sells her condo). Honestly, I think HDB should close this loophole, if one is rich enough to get a condo, then he should dispose his HDB. HDB should always stay true to its original objective - affordable public housing.

[cherrygal]

lee_yl\" post_id=\"1928201\" time=\"1565608743\" user_id=\"17023:

Honestly, I think HDB should close this loophole, if one is rich enough to get a condo, then he should dispose his HDB. HDB should always stay true to its original objective - affordable public housing.

I asked HDB this a few years ago and they actually replied saying we could sell our pte ppty, buy HDB, wait 5yrs and do the same as the others. Think their officer is also one of those who kept HDB and bought condo... Hahaha

[lee_yl]

cherrygal\" post_id=\"1928271\" time=\"1565661693\" user_id=\"9754:

lee_yl\" post_id=\"1928201\" time=\"1565608743\" user_id=\"17023:

Honestly, I think HDB should close this loophole, if one is rich enough to get a condo, then he should dispose his HDB. HDB should always stay true to its original objective - affordable public housing.

I asked HDB this a few years ago and they actually replied saying we could sell our pte ppty, buy HDB, wait 5yrs and do the same as the others. Think their officer is also one of those who kept HDB and bought condo... Hahaha

:rotflmao: Win liao lor.

But now one will be slapped with 12% ABSD and subject to TDSR, so should think twice if really wanna do this.

For those who already own a HDB and condo(s), so be it. Think it’s time for the authorities to review this rule, which is probably popular with HDB owners who get to keep the cake and eat it but which ultimately distorts the public housing market. Better stick to the fundamentals, public housing serves a public good and should not be a means to enrich the well-to-do

[cherrygal]

Elections coming… They are not going to anger the HDB crowd by removing this privilege.


As you put it, the 12% absd is working. My agent says Condo units not moving coz the HDB upgraders need to sell before they can buy. Due to 12% absd. So yes, less pple are keeping their HDB.