EC penthouse sold for record S$2.05m
-
MMM:
Me too.. I am regretting as well. :stupid:Mawar:
This is just the way it is. We know of a few couples who are living in landed properties with their parents and keeping their flats vacant. Just waiting to offload come maturity. Like FD.
Hopefully I will not get
for saying this.
Dh always felt regretful that we didn't get to \"earn\" from the 1st HDB flat (as from what we observed from the peers around us, everyone made $ from their 1st HDB and subsequently upgraded to private). Due to certain circumstances, our 1st property is private. His advice to the kiddos is to make sure they buy their 1st HDB.... But seriously I wonder at what kind of price during their era....
But seriously, whoever that buys a HDB or EC, it should be made mandatory for the owner to stay in the unit during the MOP. -
MMM:
My thoughts exactly. Was just discussing the absurdity of this with hubby yesterday...HVR:
Income ceiling $12k. Let's say loan 80% then need to borrow 1.6 millions how to make monthly payment? Definitely have to pay cash and will any bank approves such loan? This being a 'public' and hence, 'subsidized' project, if the buyers have so much cash to pay upfront then shouldn't enjoy any grant at all.
Precisely. Had the same thought as well. For the target income group, how can they afford to pay for a $2.05MM property if not family support. If some is buying without family support, that sounds like a stretch. Only can afford to pay for the instalment??? I still find that EC positioning doesn't make sense... -
If the young buyers (of which there are many) do not have family support (or lots of savings from windfall, inheritance, etc.), and they need to get max loans, will likely stretch them very thin… should anything happen along the way (health, career, interest rates spike, property crash, etc.), these people will be in for trouble.
If this is widespread, it would likely result in price crash, like last time US subprime crisis… -
Busymom:
Me too.. I am regretting as well. :stupid:MMM:
[quote=\"Mawar\"]This is just the way it is. We know of a few couples who are living in landed properties with their parents and keeping their flats vacant. Just waiting to offload come maturity. Like FD.
Hopefully I will not get for saying this.
Dh always felt regretful that we didn't get to \"earn\" from the 1st HDB flat (as from what we observed from the peers around us, everyone made $ from their 1st HDB and subsequently upgraded to private). Due to certain circumstances, our 1st property is private. His advice to the kiddos is to make sure they buy their 1st HDB.... But seriously I wonder at what kind of price during their era....
But seriously, whoever that buys a HDB or EC, it should be made mandatory for the owner to stay in the unit during the MOP.[/quote]
Don't regret. It's entirely possible to lose money on EC or HDB (like me!). My regret is not having sprung for a private property from the beginning, the MOP is a correct philosophy but it really killed opportunities. -
Mawar:
This is just the way it is. We know of a few couples who are living in landed properties with their parents and keeping their flats vacant. Just waiting to offload come maturity. Like FD.
Flat owners not staying in flat is against HDB regulations. -
Musings:
Intentional.. or not intentional......? :evil:
I think our policy makers have failed to recognise and respond swiftly to economic changes. The property boom in recent years have made many cash rich and also makes people think property will definitely appreciate. Hence, the exploitation of the loopholes in the older policies to profit from this.3Boys:
It did make sense....in the beginning.
Now its completely perverted. -
limlim:
Of course it is. But first of all, there must be someone doing the tip-off then someone else can do the investigation, right?Mawar:
This is just the way it is. We know of a few couples who are living in landed properties with their parents and keeping their flats vacant. Just waiting to offload come maturity. Like FD.
Flat owners not staying in flat is against HDB regulations. -
straffan23:
Of course it is. But first of all, there must be someone doing the tip-off then someone else can do the investigation, right?[/quote]Define \"staying in\".limlim:
[quote=\"Mawar\"]This is just the way it is. We know of a few couples who are living in landed properties with their parents and keeping their flats vacant. Just waiting to offload come maturity. Like FD.
Flat owners not staying in flat is against HDB regulations.
-
pirate:
Flat not \"vacant\"..
Define \"staying in\". -
Sometimes it is very hard to define or enforce a rule.
Say a young couple bought a HDB flat when they got married. After staying there for a while, they may have a young baby and it became more convenient to move in and stay with the parents. Should the govt force the couple to sell their HDB flat since it is now "vacant"? Even if it is defined as "can’t be vacant for xx period of time", it is also hard to monitor and enforce.
If HDB tries to enforce such rules, the MPs will need to extend the MPS session to help to write appeal letters.
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login
