why hdb so expensive
-
Hey check this out its on today's forum
http://straitstimes.asia1.com.sg/forum/story/0,4386,261041,00.html?
[/url]
wonder how the HDB will answer it.
I mean i know the Real reason why it is so expensive but i dont know whether they will give a reply that doesnt anything or an in your face answer. -
gregorsamsa - Posted same report almost same time as you.
It's about time concerned Singaporeans start voicing out their disapproval over the ways our Government squeezed extra indecent bucks out of many financially struggling Singaporeans. -
hey, i know you posted a similar thread.
But now it is the official response which i am speculating on.
I think it is one of the rarest time that such a controversial subject has been raised in the press. Therefore, i am interested in what might be the response, which i expect to be dodgy and evasive of the main issue.
My personal belief that, reinforced by my brothers quote from his social studies text, that such a high price is levied firstly to ensure we do work (slavery) and also as a revenue churner for the government.
While the official stand is everyone here owns his property (100% home ownership) but it is probably the mopst imporverishing thing in our lives. -
haha and i saw that you posted your post slower than mine.
yours was 1.25pm while mine was 1.08 pm -
yesh man - u were quicker on the draw. However, I did several edits which meant i was only a few minutes behind you lah
-
HDB presents a magical illusion of the government to provide affordable housing to everyone and the best part - you don't really own them. After paying so much, you only lease from them.Originally posted by Gregorsamsa:Hey check this out its on today's forum
http://straitstimes.asia1.com.sg/forum/story/0,4386,261041,00.html?
[/url]
wonder how the HDB will answer it.
I mean i know the Real reason why it is so expensive but i dont know whether they will give a reply that doesnt anything or an in your face answer.
Cheers -
so what's the reason for selling those flats at such a high price?Originally posted by Gregorsamsa:Hey check this out its on today's forum
http://straitstimes.asia1.com.sg/forum/story/0,4386,261041,00.html?
[/url]
wonder how the HDB will answer it.
I mean i know the Real reason why it is so expensive but i dont know whether they will give a reply that doesnt anything or an in your face answer. -
My personal belief that, reinforced by my brothers quote from his social studies text, that such a high price is levied firstly to ensure we do work (slavery) and also as a revenue churner for the government.
yah thats the Real answer -
Originally posted by Gregorsamsa:My personal belief that, reinforced by my brothers quote from his social studies text, that such a high price is levied firstly to ensure we do work (slavery) and also as a revenue churner for the government.
yah thats the Real answer
Yeah. That's the hidden agenda.
I'm interested to know what they write on the public agenda. -
will they finally give people a damn damn good explanation why they are charging sky high prices for our hdb flats when they keep telling people that working hard and save for retirement, which is actually buying your tomb from hdb... becoz normally by the time you finish paying the loan, you are almost a retiree... hahaha... -
the most funny thing is....they always still claimed that it's a subsidized price given to citizen onlyOriginally posted by blurgirl:so what's the reason for selling those flats at such a high price?
-
...and what if they don't?Originally posted by spyder:will they finally give people a damn damn good explanation why they are charging sky high prices for our hdb flats... We're going to vote them out? Dream on! Evil lives forever. Haven't you seen enough B-grade horror flicks to know that? -
hey,
lets all not end up govt bashing but rather have some futile discussion.
i think the only comparision for expensive housing is hong kong as in in many earlier threads. however i feel that the comparison is always flawed because its dependent on the district. Its like if we build HDB in bukit timah, obviously it would be very expensive.
to further elaborate my answer, the HDB pricing its flat high is a form of control, as well as a convenient money spinner, whichever comes first..
i think there was a need for the government to raise money when it first started out. however as we all know, there is always an agenda.. While the HDB stated aim is " to provide affordable homes and building of communities. ", my mum and dad, lower-middle blue collared people, have been paying ther mortgage even up till now, with a sizeable mortagage.
The hidden agenda, which was stated in my brother's social studies text, is to ensure that that people work hard enough till the end of their lives. therefore there is no escape from the daily grinding of millstone..
The plus point of having such high HDB prices is first, higher government revenue. the next, it is like COE, it creates commercial spin offs. people have to have their own places and so have to take loans and stuff, demand creates its own supply. thus we have an economy of sorts.
With such high HDB prices, we are some sort stuck. Lets assume the Govt would ever devalue the HDB pricing, what we have is a generation or few generations of people whose life and money spent on financing the house see it disappear. its like devalutaion of assets. and so , would people still financing their mortgages be given a cash back from the Banks or HDB because of such a devalution? its a catch 22 situation.
Lastly today is Day 2 since the forums posting but we have yet to recive a reply from the officials. you might think that its a B -grade movie being played out, but i would like to hear the government's official stand. if they think we are idiots then i mean someone will have to be put to the sword. -
no matter what the reason behind might be, we are still gonna pay that price when we buy new houses in future. Unless u dun wanna buy new flats at all lah. This kinda of price is never going to change.Originally posted by I-like-flings(m):the most funny thing is....they always still claimed that it's a subsidized price given to citizen only -
If my observation is right. HDB direct purchase is always priced at prevailing valuation price of neighbouring similar estate minus some $?0, 000. So, the only way to change it is to crash the housing market. Well.... not sure if everyone wants that to happen. And the government can "influence" the market by releasing more/less land for housing as well as to the extreme of taking back lands. Not sure if all these means anything to anyone anyway.Originally posted by blurgirl:no matter what the reason behind might be, we are still gonna pay that price when we buy new houses in future. Unless u dun wanna buy new flats at all lah. This kinda of price is never going to change.
Blah... the common folks cannot control those things... only thing they can control is to refuse to be control by the system through making the decision to buy or not to buy an overpriced flat. Sadly, many may be encouraging this increased in housing price through the action of buying above valuation. -
so far its a week and still no reply from HDB.
well maybe the problem comes from us -
LoL
Wonder if HDb better or private better
wonder if there would be any change in a gal face if i told her i was staying in a private bungalow or a HDB flat..for the first time -
Originally posted by Gregorsamsa:so far its a week and still no reply from HDB.
well maybe the problem comes from us They will surely reply. They are just thinking of what to say that's appropriate and won't generate more flaming for themselves. -
hey hey no ans from the pro GOV or HDB arh....
.
tell you ppl wat why not all dun pay the loan from HDB
any way, lots of my friends friends friends are not paying b cause no work, no cpf...
and pls pls those getting new flat dun loan from bank kay, low interest yes but if you cannot pay you sleep void deck know. one thing good on HDB is that HDB will not do that to you -
If land cost of a project is S$100 per plot ratio per square foot. Construction cost is S$150 per plot ratio per square foot. HDB can sell the flat for a profit at S$250 per plot ratio per square foot.
However HDB cannot take the land cost at S$100 per plot ratio per square foot because the lands acquisition profits were transferred to consolidated account. HDB bought lands back at the highest price from Consolidated Fund. The final land cost would be higher than S$100 because it was re-sold to HDB at higher price with difference (profits) earned by government in the first instance.
How can HDB flat be cheap? -
wow it moving $$$ from pocket A to B than to C and than back to A but end with more than it 1st start off...Originally posted by robertteh:If land cost of a project is S$100 per plot ratio per square foot. Construction cost is S$150 per plot ratio per square foot. HDB can sell the flat for a profit at S$250 per plot ratio per square foot.
However HDB cannot take the land cost at S$100 per plot ratio per square foot because the lands acquisition profits were transferred to consolidated account. HDB bought lands back at the highest price from Consolidated Fund. The final land cost would be higher than S$100 because it was re-sold to HDB at higher price with difference (profits) earned by government in the first instance.
How can HDB flat be cheap?
si liao lar.... all have to pay and pay till the day die arh??? -
here is trheir reply:
What goes into pricing of HDB flats
I REFER to the letter, 'How does HDB price its flats?' (ST, July 12), by Mr Douglas Chow Tuck Kheong.
HDB sells flats with a market subsidy in order to enable the majority of Singaporeans to own a basic flat. The market subsidy is provided by pricing new flats below the price of comparable resale flats.
The price also takes into account location, design and other specific attributes.
Affordability is assessed by looking at the debt-service ratio of buyers. Last year, buyers of three- and four-room flats used, on average, less than 20 per cent of their monthly income to service their monthly loans.
This is well within the 40 per cent guideline used by financial institutions in credit assessment, as well as international benchmarks of household expenditure on housing.
We wish to inform Mr Chow that the construction-cost figures he worked out relate only to buildingworks. The total construction cost of flats includesother costs, such as that for piling works, and consultancy and project-management fees.
TAY BOON SUN
Senior Public Relations Officer
for Director, Corporate Development
Housing & Development Board -
"..The letter, "How does HDB prices it's flats?" (ST July 12) has only accentuated my bewilderment at the way HDB flat prices have inflated over the past decade as a result of presumably uncontrollable market forces.
Beginning with an index of 41.8 in 1993, the HDB resale-price indexs has escalated to 105.2 in the second quarter of this year, according to the latest flash estimate (source: HDB website)> This represent an increase of 152 %.
In contrast, the average monthly nominal earnings per employee in Singapore had increased only 68 % from $1918 in 1993 to $3213 in 2003 (MOM website).
Hence, the rate of HDB resale-price inflation is more than double that of wage increment over this period of time. This living cost-to-income disparity is magnified when the effective long-term housing-loan interest rate is taken into consideration...
(Quote ST Forum 23/7/04) -
Is it just me who feel this way??
Most of their reply often seemed cut and paste. The whoe reply is a standard answer to question about pricing. They only add in the last paragraph to answer the main issue being raised by the previous writer.. -
HDB is expensive ;
After Pinnacle;
It will be more than expensive;
HDB learns to value up never down;
Otherwise its head will be answerable to the higher up!!!
The same thing is happening in all ministries;
I think we better ask Khaw Boon Wan to give them a talk how to value down.