Why students study more during school holidays
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Hdb needs to re-look at their home ownership policy. It just sounded like our property market is heading that of HK’s. But why should it be? It’s in the hands of the govt rather than land predominantly owned by private developers in HK.
I cannot understand why a wdlds BTO (not near mrt) costs half a mil directly from primary market. -
Imp75\" post_id=\"2135513\" time=\"1719288125\" user_id=\"2358:
Don’t buy Woodlands BTO lah.
Hdb needs to re-look at their home ownership policy. It just sounded like our property market is heading that of HK’s. But why should it be? It’s in the hands of the govt rather than land predominantly owned by private developers in HK.
I cannot understand why a wdlds BTO (not near mrt) costs half a mil directly from primary market.
When RTS is ready, I foresee many will dump woodlands flats and relocate to across the causeway. Renting a Woodlands HDB could cost around S$3500 while renting a JB condo is like RM$3000?
Woodlands houses will be the first to be impacted by RTS
https://www.propertyguru.com.my/property-listing/r-f-princess-cove-for-rent-by-peter-kek-29591729 -
I am using wdlds as analogy lah to illustrate how unaffordable BTOs have become esp the prime and plus estates.
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Imp75\" post_id=\"2135513\" time=\"1719288125\" user_id=\"2358:
Inflation?
Hdb needs to re-look at their home ownership policy. It just sounded like our property market is heading that of HK’s. But why should it be? It’s in the hands of the govt rather than land predominantly owned by private developers in HK.
I cannot understand why a wdlds BTO (not near mrt) costs half a mil directly from primary market.
Our u grad starting pay used to be close to $3K. Now it’s close to $5k? But I think inflation does reduce our purchasing power than before. My friend told me her sister in UK, electrical bill increase 3 folds. Their inflations I think it’s like double digits. Objectively, we are not as bad as others. -
doodbug\" post_id=\"2135511\" time=\"1719287193\" user_id=\"13281:
My uncle owns a 4rm HDB in a mature estate. He rents it out for a tidy sum and uses the rental income to finance his private condo.
But this doesn't mean I don't see the possibly negative / ill effects of the widening inequality of the different housing types, and I do think it will become a problem in future as it is another form of 'divide'. Some say that it is far more difficult to 'upgrade' now than in the past.
Private properties prices have rocketed sky high and don’t forget the 20% ABSD should a couple decide to keep their HDB. It is out of reach for most Singaporeans as compared to my uncle’s or even our era. If one disposes off their 5rm flat and get a condo of around 1200sqft the couple needs to top up a lot more as the gap between HDB and new private has widened a lot these past few years.
Not sure if this is the reason govt asks us not to chase the 5Cs -
Imp75\" post_id=\"2135522\" time=\"1719293429\" user_id=\"2358:
I don’t know HDB’s pricing formula but $500K+ for Woodlands could be due to inflationary erosion of our purchasing power, aka our money has become “smaller”.
I am using wdlds as analogy lah to illustrate how unaffordable BTOs have become esp the prime and plus estates.
One may find Wdlands BTOs expensive but none of my young cousins getting married, chose Woodlands BTO. They rather pay more for estates like Bidadari!! LOL. Demand for Woodlands BTO definitely not as high as those nearer town -
lee_yl\" post_id=\"2135528\" time=\"1719295421\" user_id=\"17023:
Definitely la I using ulu eg (supposedly most affordable) as case in point.
I don’t know HDB’s pricing formula but $500K+ for Woodlands could be due to inflationary erosion of our purchasing power, aka our money has become “smaller”.
One may find Wdlands BTOs expensive but none of my young cousins getting married, chose Woodlands BTO. They rather pay more for estates like Bidadari!! LOL. Demand for Woodlands BTO definitely not as high as those nearer town
So tell me, how do we stop and smell the roses when homes have become so unaffordable.
And new graduate pay nowadays median is merely $3-4k (finance) not sure how much lower is for those in commercial/social service sectors. Also 60% of the population are non-grads. -
Hmm…. did a back of envelope calculation.
Say poly graduate, starting pay is around $2700. After working for 8 yrs ( around time to settle down) , pay increased to $3500. Say avg monthly pay from starting to end of 8 yrs is $3100.
23% CPF allocation into OA monthly = 23% of $3100=$713. After 8 yrs, saving in OA = 8x12x$713 = $68k. Say partner same profile. Total CPF available when apply for HDB flat is $68k x 2 = $136k.
First time buyer housing grant up to $80k I read
Say a $500k HDB flat, minus $80k grant minus $136k available, need to take up $284k loan.
Loan from HDB at 2.6% rate, repayment period 25 yrs, monthly instalment around $1289, and $645 per person.
Current salary of $3500, 23% allocation into OA , will be $800. Enough to service the monthly instalment.
U grad will be in better position. Poly graduate can upgrade to degree. Housing Base line i think still intact.
Not many can slow down. But at least some pressure will be reduced from the societal expectation front, making it easier for those who can work out something. -
Wow thanks for breaking this down, otherwise I would hv thought HDB ownership is really unaffordable. Not sure why hdb website illustrative example is painting a rather bleak picture or maybe I was too focused that it’s half a million (tsk tsk so expensive for a hdb that area).
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