Property Views
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lee_yl\" post_id=\"2043643\" time=\"1635124704\" user_id=\"17023:
The HDB resale market is really on fire. Two of my relatives sold their HDB flats this year (TPY and Punggol) at record high price for the respective area. I was surprised the HDB valuation can match the record high price!
My family is expanding and we have been looking at newish resale flats (5 room or bigger) in AMK and punggol / sengkang.tinker_bell\" post_id=\"2043632\" time=\"1635121547\" user_id=\"194652:
[quote=lee_yl post_id=2043413 time=1634956873 user_id=17023]https://www.channelnewsasia.com/singapore/hdb-resale-transactions-prices-all-time-high-2260946?cid=FBcna&fbclid=IwAR1DUVZ-GuS9vCIT5Necc1ykSQLJDCAlSbAR_HwG3KgZkO256bNvEzKie2c
Property market on FIRE!!
https://www.propertyguru.com.sg/listing/hdb-for-sale-260a-ang-mo-kio-street-21-23726178 are selling at a million!
and https://www.propertyguru.com.sg/listing/hdb-for-sale-326d-anchorvale-road-23718222 are not far behind!
Can't believe my eyes when I saw such listings!
For the AMK flat, this unit just fulfilled the MOP, usually price is highest the moment the flat hits 5 years. As for the Sengkang one, I think the seller is just trying his luck. $300k more than the last done deal is ridiculous. It will still sell, maybe $6xxk-$7xxk.[/quote]Thank you for sharing! I also agree that the sengkang listing is ridiculous too!
Even those high floor 5 room resale flats next to buangkok mrt and sengkang mrt are asking for only $850k.
I find punggol has many amenities, but the flats there out of our budget. We are now looking at older EA at sengkang or even hougang that are still walking distance to the mrt. Even then, we noticed that prices have jumped by at least 10% since 2020! -
Who would have thought that punggol, which used to be known for pig farms, would now have the honor of having million dollar hdb flats!
https://www.todayonline.com/singapore/record-23-flats-non-mature-hdb-estates-sold-over-s800000-first-quarter-2021 -
https://www.straitstimes.com/singapore/housing/subsidy-clawback-10-year-mop-for-new-prime-location-hdb-flats-to-keep-them
Very good! The new measures will curb those wanting to strike lottery from new BTOs in prime area. I am quite worried my children couldn’t afford a 5rm BTOs in a decade’s time given the way HDB’s prices have climbed.
New changes: Minimum Occupational Period increased from 5 years to 10 years. Even after meeting MOP of 10 years, owners cannot rent out whole flat (spare rooms can).
And, HDB will crawl back subsidies (X%) from the 1st owner who enjoyed the subsidy from the prime BTO when they decide to sell their flat (1st resale).
I welcome all these changes. In the first place, BTOs should be kept affordable and not as a means for making windfalls or rent out whole unit while owners themselves stay in condo!!! :siam:
By allowing HDB owners to stay in condos and rent out their HDBs is already very very warped thinking, regardless whether they meet the MOPs or not.
One way to stabilize the resale market right now is to make all the HDB owners who own condos, to sell off their HDBs (give them 1 year grace period). In this way, more units will be released back to the market and young couples who can’t wait due to the delay in construction due to COVID, can buy a resale unit at reasonable pricing. For those who wish to retain their HDBs then they must move back to their HDBs.
HDB are subsidized public housing and should not be used as a tool for making money. Spare room rental for needy families, I can accept that. -
I agree with lee_yl. Keep the private market and HDB markets separate, in that we should not conflate the purposes. HDB is primarily to serve the purpose of giving all Singaporeans the opportunity of having a roof over one’s head. It should serve housing needs first and foremost, and should not be in the realm of excessive profit making or speculation.
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I just guess this could well be another round for this group of ppl disposing. The measure came out around 2008/9? Price is good now, return fm rental will go down, flat getting older and if more than 30+ yo can expect value going down …
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While the rules meant to curb flipping subsidized public housing for a windfall, what about those who are willing to pay and hence encouraging more 1 mil flats to be sold?
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These buyers are willing buyers - and they won’t be profitting much. Hence, how to penalize or discourage them further?
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Maybe some has earned profits fm previous property?
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doodbug\" post_id=\"2043890\" time=\"1635320454\" user_id=\"13281:
True, but their generousity has resulted some sellers asking for unreasomably high prices.
These buyers are willing buyers - and they won't be profitting much. Hence, how to penalize or discourage them further?
Having said that, if I have a ppty to sell, I sure want to sell as high as possible
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During my time, many ppl around me sell their hdb to buy private. And coz we didn’t plan for it and never thought of selling ours, signed doc then find money…we took short term loan and every mth need pay xxk+ for 6 mths. We also have our sacrifices in order to keep it.
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