HDB selling 5RM flat at SGD423000! Where the subsidy?

• iamgoondu

  7 Feb 07, 21:03

  MARINE PARADE 1 $225,000 -
  $225,000 2 $338,000 -
  $423,000 3
  
  Block 43 Street MARINE CRES
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Nov 1975
  
  Block 14 Street MARINE TER
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Jan 1975
  Available Ethnic Quota Malay
  1 Chinese
  0 Indian & Others
  0
  
  Recent Transacted Prices
  71 Marine Dr 11 to 15 126.00 1977 $462,000.00
  73 Marine Dr 16 to 20 117.00 1977 $482,508.00
  14 Marine Ter 21 to 25 119.40 1975 $475,000.00
  
  The recent WIS exercise by HDB saw HDB selling a 5 RM flat in Marine Parade at $423K.
  
  So HDB is giving a subsidy 50K!
  
  Something just not right!
  
  
• red_amoeba

  7 Feb 07, 21:17

  haha...only 425K? Wait till u see the flats selling at Redhill or Kim Tian. They will tell you loh, compared to market prices its a steal....
• qpicanto

  7 Feb 07, 21:20

  Originally posted by iamgoondu:

  MARINE PARADE 1 $225,000 -
  $225,000 2 $338,000 -
  $423,000 3
  
  Block 43 Street MARINE CRES
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Nov 1975
  
  Block 14 Street MARINE TER
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Jan 1975
  Available Ethnic Quota Malay
  1 Chinese
  0 Indian & Others
  0
  
  Recent Transacted Prices
  71 Marine Dr 11 to 15 126.00 1977 $462,000.00
  73 Marine Dr 16 to 20 117.00 1977 $482,508.00
  14 Marine Ter 21 to 25 119.40 1975 $475,000.00
  
  The recent WIS exercise by HDB saw HDB selling a 5 RM flat in Marine Parade at $423K.
  
  So HDB is giving a subsidy 50K!
  
  Something just not right!
  
  

  Lease starts from 1975. 32 years old, wait move in few yrs only got to move for en bloc.
• iamgoondu

  7 Feb 07, 21:21

  Those flats that HDB sell in Marine Parade are not new flats, they are 32 years old. Wondering how much HDB would sell for a new flat in Marine Parade.
  
  
• iamgoondu

  7 Feb 07, 21:22

  Originally posted by qpicanto:

  Lease starts from 1975. 32 years old, wait move in few yrs in only got to move for en bloc.

  Those flats may have already undergo MUP.
• I-like-flings(m)

  7 Feb 07, 21:30

  hahahahahahaha...subsidy in singapore style lor..
• zaxis

  7 Feb 07, 21:30

  Originally posted by iamgoondu:

  Those flats may have already undergo MUP.

  so how many more yrs to go after MUP?
  start new or date con't?
  
  DO not take the 50K, better take 40K
  
  if additional 10K your parent unit tie together cannot sell till you are allow. from your purchase date.
  
  
• iamgoondu

  7 Feb 07, 21:38

  Wondering how much does HDB buy over from it previous owner?
  
  If HDB indeed buy over from it previous owner at $483K, then indeed there is a 50K subsidy.
  
  If HDB could release this information, then we would know it exact subsidy.
• maurizio13

  7 Feb 07, 21:41

  Originally posted by iamgoondu:

  MARINE PARADE 1 $225,000 -
  $225,000 2 $338,000 -
  $423,000 3
  
  Block 43 Street MARINE CRES
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Nov 1975
  
  Block 14 Street MARINE TER
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Jan 1975
  Available Ethnic Quota Malay
  1 Chinese
  0 Indian & Others
  0
  
  Recent Transacted Prices
  71 Marine Dr 11 to 15 126.00 1977 $462,000.00
  73 Marine Dr 16 to 20 117.00 1977 $482,508.00
  14 Marine Ter 21 to 25 119.40 1975 $475,000.00
  
  The recent WIS exercise by HDB saw HDB selling a 5 RM flat in Marine Parade at $423K.
  
  So HDB is giving a subsidy 50K!
  
  Something just not right!
  
  

  They already provided subsidy lah, do you know what the market price of condominium is. At least $800,000, so they already give discount of $400,000.
  
  Wahahaha.
  
  You never learn PAP mathematics 101 or PAP principle of accounts 101?
• dork3d

  7 Feb 07, 21:50

  My current house at Queenstown is already fetching an open market value of $618k now... 5-room standard unit, high floor... First purchased my flat at $376k four years back...
• iamgoondu

  7 Feb 07, 21:55

  131 Clarence Lane 01 to 05 125.00 1996 $446,000.00 Jan 2007
  131 Clarence Lane 11 to 15 125.00 1996 $485,000.00 Nov 2006
  131 Clarence Lane 01 to 05 133.00 1996 $500,000.00 Nov 2006
  132 Clarence Lane 06 to 10 133.00 1996 $527,500.00 Jan 2007
  133 Clarence Lane 11 to 15 121.00 1996 $492,000.00 Jan 2007
  12 Dover Cl East 01 to 05 117.00 1978 $405,000.00 Dec 2006
  12 Dover Cl East 06 to 10 117.00 1978 $422,800.00 Nov 2006
  27 Dover Cres 11 to 15 123.00 1976 $403,000.00 Dec 2006
  3A Holland Cl 11 to 15 124.00 1998 $497,000.00 Nov 2006
  5 Holland Cl 16 to 20 124.00 1998 $500,000.00 Jan 2007
  20 Holland Dr 01 to 05 114.00 1975 $380,000.00 Jan 2007
  20 Holland Dr 21 to 25 119.00 1975 $428,000.00 Nov 2006
  21 Holland Dr 06 to 10 117.00 1975 $380,000.00 Dec 2006
  166 Stirling Rd 11 to 15 120.00 1970 $332,000.00 Jan 2007
  184 Stirling Rd 06 to 10 115.00 2000 $455,000.00 Jan 2007
  80 Strathmore Ave 01 to 05 133.00 1993 $385,000.00 Jan 2007
  80 Strathmore Ave 06 to 10 133.00 1993 $453,000.00 Nov 2006
  
  Wait long long till you found your buyer at $618k
  
  If HDB continue to price the apartments at resale price, in no time they will be out of reach to many singaporeans.
• dork3d

  7 Feb 07, 22:03

  Originally posted by iamgoondu:

  131 Clarence Lane 01 to 05 125.00 1996 $446,000.00 Jan 2007
  131 Clarence Lane 11 to 15 125.00 1996 $485,000.00 Nov 2006
  131 Clarence Lane 01 to 05 133.00 1996 $500,000.00 Nov 2006
  132 Clarence Lane 06 to 10 133.00 1996 $527,500.00 Jan 2007
  133 Clarence Lane 11 to 15 121.00 1996 $492,000.00 Jan 2007
  12 Dover Cl East 01 to 05 117.00 1978 $405,000.00 Dec 2006
  12 Dover Cl East 06 to 10 117.00 1978 $422,800.00 Nov 2006
  27 Dover Cres 11 to 15 123.00 1976 $403,000.00 Dec 2006
  3A Holland Cl 11 to 15 124.00 1998 $497,000.00 Nov 2006
  5 Holland Cl 16 to 20 124.00 1998 $500,000.00 Jan 2007
  20 Holland Dr 01 to 05 114.00 1975 $380,000.00 Jan 2007
  20 Holland Dr 21 to 25 119.00 1975 $428,000.00 Nov 2006
  21 Holland Dr 06 to 10 117.00 1975 $380,000.00 Dec 2006
  166 Stirling Rd 11 to 15 120.00 1970 $332,000.00 Jan 2007
  184 Stirling Rd 06 to 10 115.00 2000 $455,000.00 Jan 2007
  80 Strathmore Ave 01 to 05 133.00 1993 $385,000.00 Jan 2007
  80 Strathmore Ave 06 to 10 133.00 1993 $453,000.00 Nov 2006
  
  Wait long long till you found your buyer at $618k
  
  If HDB continue to price the apartments at resale price, in no time they will be out of reach to many singaporeans.

  My neighbour did... He found a buyer through PropNex at $611k... The buyer is a Korean...
• iamgoondu

  7 Feb 07, 22:18

  Originally posted by dork3d:

  My neighbour did... He found a buyer through PropNex at $611k... The buyer is a Korean...

  Indeed at 611k, it is out of reach to many Singaporeans. Hopefully the Korean is aware that his apartment is not freehold.
• foomwee88

  7 Feb 07, 22:22

  Originally posted by dork3d:

  My neighbour did... He found a buyer through PropNex at $611k... The buyer is a Korean...

  I know the Korean name is Mr Sieow!!!!
• dork3d

  7 Feb 07, 22:25

  Originally posted by foomwee88:

  I know the Korean name is Mr Sieow!!!!

  Nope.. His surname is Mr. Kham Lan!
• bic_cherry

  8 Feb 07, 00:19

  Hi:

  Originally posted by iamgoondu:

  Recent Transacted Prices
  71 Marine Dr 11 to 15 126.00 1977 $462,000.00
  73 Marine Dr 16 to 20 117.00 1977 $482,508.00
  14 Marine Ter 21 to 25 119.40 1975 $475,000.00
  
  ...
  Something just not right!
  
  

  Could you pls share w me your source url?
  
  Tks!
• fymk

  8 Feb 07, 05:39

  I could buy 1 large apartment in Melbourne CBD for that price. Freehold too .
  
• ShutterBug

  8 Feb 07, 06:26

  
  Singapore is so small, why do people insist on popularizing certain locations so much that they end up commiting themselves long term to HDB's rediculous market pricings?
  
  In my opinion, properties here aren't worth the prices they're tagged with. With those kind of prices, one can own grander properties oversease!
  
  
• AndrewPKYap

  8 Feb 07, 06:46

  Originally posted by fymk:

  I could buy 1 large apartment in Melbourne CBD for that price. Freehold too .
  

  I can buy 4 or 5 small condo/apartment in CBD/Orchard Road Bangkok, Thailand. Freehold too. Think about it. I stay in one and rent out the rest.
  
  Singaporeans should really wake up and stop people from taking their money just after / even before they start working. The "old folks" let them take it because they gave them the benefit of the doubt. After forty years, they are still taking like your money belongs to them! The new generation should wake up now and stop giving them the benefit of the doubt.
  
  see: "have kill in error, no letting off" (HKIE-NLO) part 3 - Policy Decisions - Public Housing
• Lowclassman

  8 Feb 07, 10:45

  Originally posted by iamgoondu:

  Those flats that HDB sell in Marine Parade are not new flats, they are 32 years old. Wondering how much HDB would sell for a new flat in Marine Parade.
  
  

  HDB will call tender as a package for design and build with the recent price increase of sand,........at most contractors will bid at S$130-150K per unit including all infrastructures, landscape and M&E services. The carparks maybe about 7 million - 9 million.
  But HDB will therefore selling at S$360 - S$420K per unit.....Marine parade...you know?
• lionnoisy

  8 Feb 07, 11:24

  Originally posted by AndrewPKYap:

  Singaporeans should really wake up and stop people from taking their money just after / even before they start working. The "old folks" let them take it because they gave them the benefit of the doubt. After forty years, they are still taking like your money belongs to them! The new generation should wake up now and stop giving them the benefit of the doubt.
  
  see: "have kill in error, no letting off" (HKIE-NLO) part 3 - Policy Decisions - Public Housing

  2.What is ''stop giving them the benefit of the doubt.''?
  
  pl tell what ,how and when the new generation shall do?
  Show the road map here .
  
  Any political party to join and spring a coup to change.
  Do we put the messsage inside moon cake next year
  to signal the coup?
  
• play_n_play

  8 Feb 07, 15:47

  VERY EXPENSIVE!
  
  

  Originally posted by iamgoondu:

  MARINE PARADE 1 $225,000 -
  $225,000 2 $338,000 -
  $423,000 3
  
  Block 43 Street MARINE CRES
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Nov 1975
  
  Block 14 Street MARINE TER
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Jan 1975
  Available Ethnic Quota Malay
  1 Chinese
  0 Indian & Others
  0
  
  Recent Transacted Prices
  71 Marine Dr 11 to 15 126.00 1977 $462,000.00
  73 Marine Dr 16 to 20 117.00 1977 $482,508.00
  14 Marine Ter 21 to 25 119.40 1975 $475,000.00
  
  The recent WIS exercise by HDB saw HDB selling a 5 RM flat in Marine Parade at $423K.
  
  So HDB is giving a subsidy 50K!
  
  Something just not right!
  
  

• will4

  8 Feb 07, 15:51

  Originally posted by iamgoondu:

  MARINE PARADE 1 $225,000 -
  $225,000 2 $338,000 -
  $423,000 3
  
  Block 43 Street MARINE CRES
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Nov 1975
  
  Block 14 Street MARINE TER
  Delivery Possession Date NA (Keys Available)
  Lease Commencement Date 01 Jan 1975
  Available Ethnic Quota Malay
  1 Chinese
  0 Indian & Others
  0
  
  Recent Transacted Prices
  71 Marine Dr 11 to 15 126.00 1977 $462,000.00
  73 Marine Dr 16 to 20 117.00 1977 $482,508.00
  14 Marine Ter 21 to 25 119.40 1975 $475,000.00
  
  The recent WIS exercise by HDB saw HDB selling a 5 RM flat in Marine Parade at $423K.
  
  So HDB is giving a subsidy 50K!
  
  Something just not right!
  
  

  I can tell u many of these 5 room flats have became empty n not many people want to buy it.
• ShutterBug

  8 Feb 07, 17:22

  Originally posted by lionnoisy:

  2.What is ''stop giving them the benefit of the doubt.''?
  
  pl tell what ,how and when the new generation shall do?
  Show the road map here .
  
  Any political party to join and spring a coup to change.
  Do we put the messsage inside moon cake next year
  to signal the coup?
  

  In my opinion, there's no need for any political party to spring anything, I'm pretty sure they will outdo themselves in time to come....
  
  Even the fastest sprinter, can trip over his own legs after too many victorious races...
  
  
• countdracula

  8 Feb 07, 17:39

  singaporeans are a bunch of whining ingrates, don't you know the market price of each hdb flat is closer to a million now!!.....so go on and enjoy the 'subsidy'...or you can chose to be homeless by choice......