Ridiculous HDB Prices
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Should we guess how much $ a 5rm BTO shall reach in the future.....How much will be the ultimate limit? S$800k for a standard 5rm BTO ? Any ideas ?
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Maybe a 3rm BTO will reach S$500k ? That'll be the max limit ?
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Originally posted by Demon Bane:
Maybe a 3rm BTO will reach S$500k ? That'll be the max limit ?
There is no such thing as max limit.
Does greed have a ceiling?
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Originally posted by charlize:
yes?
-clone of unicorn stars
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Originally posted by charlize:
Are you sure you cannot afford?
They keep saying everything is affordable with a 30 year mortgage loan.
Are you not working hard enough to make money?
I am looking at it this way: if a person has to spend 50% of salary on housing, then the person is screwed. Somehow, at the current prices, I wonder how do people save when all the mopney goes to paying for that roof.
Yes I work hard but does not mean my company is paying me better. My starting pay is lower than all my FT colleagues around 2K. The current housing price is a real strain, I always wonder how do people commit to buying 500-800K house when they are just in their early 20s. I tremble when I look at 300K house. I guess youngesters are getting more money nowadays.
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Originally posted by Demon Bane:
Maybe a 3rm BTO will reach S$500k ? That'll be the max limit ?
resale market 3 rm in good location is 480K
BTO 3 rm can potentially be higher than that in future.
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Originally posted by mistyblue:
I am looking at it this way: if a person has to spend 50% of salary on housing, then the person is screwed. Somehow, at the current prices, I wonder how do people save when all the mopney goes to paying for that roof.
Yes I work hard but does not mean my company is paying me better. My starting pay is lower than all my FT colleagues around 2K. The current housing price is a real strain, I always wonder how do people commit to buying 500-800K house when they are just in their early 20s. I tremble when I look at 300K house. I guess youngesters are getting more money nowadays.
Then you just have to be cheaper better and faster.
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Originally posted by mistyblue:
I am looking at it this way: if a person has to spend 50% of salary on housing, then the person is screwed. Somehow, at the current prices, I wonder how do people save when all the mopney goes to paying for that roof.
Yes I work hard but does not mean my company is paying me better. My starting pay is lower than all my FT colleagues around 2K. The current housing price is a real strain, I always wonder how do people commit to buying 500-800K house when they are just in their early 20s. I tremble when I look at 300K house. I guess youngesters are getting more money nowadays.
why do people in their early 20s look for houses? if they do uni they would have just graduated and in their first job....many are wondering if they should buy cars...
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Originally posted by sgdiehard:
why do people in their early 20s look for houses? if they do uni they would have just graduated and in their first job....many are wondering if they should buy cars...
Because everything is affordable if you stretch out the loan tenor.
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Originally posted by sgdiehard:
why do people in their early 20s look for houses? if they do uni they would have just graduated and in their first job....many are wondering if they should buy cars...
They are trying to get married.
PRC + Indonesian boy in early 20s wanted to buy my HDB. Indonesian boy will pay for house.
The local couple who finally bought my place, the guy still in NS. But I know his folks are financing him lah, otherwise how to pay.
But I not kay poh one... I just observing. Its real nice to be rich and have rich parents. It sucks not have no money so that's why I am downgrading.
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Originally posted by mistyblue:
They are trying to get married.
PRC + Indonesian boy in early 20s wanted to buy my HDB. Indonesian boy will pay for house.
The local couple who finally bought my place, the guy still in NS. But I know his folks are financing him lah, otherwise how to pay.
But I not kay poh one... I just observing. Its real nice to be rich and have rich parents. It sucks not have no money so that's why I am downgrading.
well, you said it all, in early 20s, you need rich parent to buy a house. The richer ones buy condo, the richer rich buy landed.
I have to wait till late 20s, worked a few years, and with combined income with my wife to buy a condo. �人��命。
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Originally posted by charlize:
Because everything is affordable if you stretch out the loan tenor.
buy house with no loan?
you wait until you earn enough, you will never catch up with the increase. you buy to rent, your loan interest can reduce your income tax. Always better to take loan, use bank money to buy my house.
take loan you can stretch your $, it is always affordable.
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So far, property prices still holding despite the cooling measures.
Will they implement another set ofmeasures to cool the red hot property market?
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Originally posted by charlize:
So far, property prices still holding despite the cooling measures.
Will they implement another set ofmeasures to cool the red hot property market?
The cooling measures taken so far were against the foreign buyers. If these don't work, it is either the foreigners can take much bigger hit, or these measures are not affecting local buyers?
When the locals are hit in buying properties with measures by the government, then who will benefit from all these measures?
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Originally posted by sgdiehard:
The cooling measures taken so far were against the foreign buyers. If these don't work, it is either the foreigners can take much bigger hit, or these measures are not affecting local buyers?
When the locals are hit in buying properties with measures by the government, then who will benefit from all these measures?
Still no signs of going down.
I think all these measures not working.
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Originally posted by charlize:
Still no signs of going down.
I think all these measures not working.
How about...
Cut property variation by 50%.
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Originally posted by Just_do_it_lah:
How about...
Cut property variation by 50%.
Variation?
Or valuation?
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Originally posted by charlize:
Variation?
Or valuation?
So far, people are still wating to get their BTOs....its still affordable...but the resale market has gone crazy....
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Someday 3rm/4rm/5rm BTO shall be from S$500k ~ S$850K....a scary tot....
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Originally posted by Demon Bane:
So far, people are still wating to get their BTOs....its still affordable...but the resale market has gone crazy....
BTO prices are still pegged to resale in the surrounding area.
If resale is going up, soon BTO will have to catch up to the "market price" .
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Originally posted by mistyblue:
They are trying to get married.
PRC + Indonesian boy in early 20s wanted to buy my HDB. Indonesian boy will pay for house.
The local couple who finally bought my place, the guy still in NS. But I know his folks are financing him lah, otherwise how to pay.
But I not kay poh one... I just observing. Its real nice to be rich and have rich parents. It sucks not have no money so that's why I am downgrading.
Good observation!
My flat is one SER unit n only one mth old. HDB requires all owners to stay for at least 2 years before they can sell.Already some owners - oldie, grandie ones are selling on lawyer papers.
Heard from one unit on my 30s plus floor is selling to very young couple from China at 750k.
Young couple from China with ready 700 - 800k cash. Here oldies are starving for this money and people from elsewhere have ready money to throw.
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Originally posted by 4sg:
Good observation!
My flat is one SER unit n only one mth old. HDB requires all owners to stay for at least 2 years before they can sell.Already some owners - oldie, grandie ones are selling on lawyer papers.
Heard from one unit on my 30s plus floor is selling to very young couple from China at 750k.
Young couple from China with ready 700 - 800k cash. Here oldies are starving for this money and people from elsewhere have ready money to throw.
Most of the FTs hold lower income jobs. Wonder how they can pay cash of 700-800k for an HDB without blinking an eyelid. Am I missing something here?
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Originally posted by allkosong:
Most of the FTs hold lower income jobs. Wonder how they can pay cash of 700-800k for an HDB without blinking an eyelid. Am I missing something here?
If you see outside the group of people who have to earn money by doing a employed career, you will see how things can happen.
There are people who are born with golden spoon, daddy got money. I once took on real estate job for 3 months, many singaporeans are buying houses for their children. If they give the money to their sons, then you will see young man buying houses with cash.
There are Chinese, Indians, Indonesian...who don't know where they got their money, fast money, dirty money.....if there is no way to prove that it is illegal, they can bring in here and use, and the best way is to buy a property, values will appreciate in long term, currency secured. If they stay in China, India, Indonesia,....continue to make the money, and take risk of going to jail, and let their sons do the buying in singapore, you see young people buying with cash.
There those who take on high flying jobs, lawyer, financial bankers... and their first priority in life is to buy a house (before prices go too high). I know of this guy who work as lawyer for 5 years, married another lawyer, got married and bought a 1.2 million condo. Don't think they pay cash, but they are daring to commit. They are young. A point to note with that they have no other commitment, except a small car, they dont have to support their parents, except some pocket money.
There are other scenarios,....but if we were not born with golden spoon, we have to be contented with what we have and work from the bottom, hopefully we give our sons a golden spoon, or equip them to jump start as in scenario 3 above.
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Next generation will have a problem buying a place to live in.
Unless they have rich parents who already own property now, can still pass down to kids.