HDB resale COV is like daylight robbery, but make legal right ! must read !

A 20 to 30 yr old 3room HDB flat was purchased between $12,500 to $30k respectively.

At present , if this kind of old flat is valuated at 200k to 250k is already a rip-off !

See the difference-30 times ! But salary remains third world !

With COV , it really looks like a legal robbery !

There is no logic to make HDB resale or new flats so expensive !

The only way to solve this problem is solving the problem at the root--the PRs. But still they deny the truth !
When the demand stops, the killing can too ! !

Now then you realise that???

dear bros ,



any solutions to remove cov ????




:(

bros ,



is market forces like supply and demand etc...


a valid reason for no intervention by authority ????


then how come some taxi drivers are


paying S$0.90 cents per litre of diesel at


their company's stations while outside


pumps stations are charging S$1.20 to S$1.50 per litre.


taxi business got no market forces meh ???? :(

bros ,


just thinking ; is COV uniquely singapore ???


can share here which other country on this planet got COV ???


thanks . :(

Tiu Kwang Yew said:

Whether COV drops to 5k or 10k or 15k…..still cash right ! Your children cannot use CPF to pay for it becos HDB say this money over the valuation, you now know why they call COV ---cash over value right !

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Tiu Kwang Yew said:

Not voting out PAP is a tragic story !

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You ignorant communist. Which part of "willing buyer, willing seller" do you not understand? The COV goes into the hands of a seller, 98% likely to be a Singaporean who have use of the money. Buyer is Singaporean, then seller is not is it?:oIo:

Want to spread propaganda for the MONGREL who bit his masters' hands LOUDHAILER chee soon juan also use your brains. :oIo:

Man in the streets said:

See the difference-30 times ! But salary remains third world !
!

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You are a fucking loser :oIo:

Don't you know that you can make lots of money as a senior management or if you own some businesses?

Also, do some Forex and play the stock market.

Wake up your fucking peasant idea. :oIo:

Man in the streets said:

A 20 to 30 yr old 3room HDB flat was purchased between $12,500 to $30k respectively.

At present , if this kind of old flat is valuated at 200k to 250k is already a rip-off !

See the difference-30 times ! But salary remains third world !

With COV , it really looks like a legal robbery !

There is no logic to make HDB resale or new flats so expensive !

The only way to solve this problem is solving the problem at the root--the PRs. But still they deny the truth !
When the demand stops, the killing can too ! !

Click to expand...

Don't be fooled by the PAP. They want u to think its the PRs that are causing the rise. The govt. owns 90% of the land and all of the flats, they are the market makers. ANy price increase or decrease is started by them. Very simply, just look at the price for a new flat. Its at least around $200,000. If the HDB sells the flat at cost, like they are supposed to, the same flat will be selling for no more than $100K. If you can buy a new flat for $100k or less, how many people do u think will be willing to pay $20K COV for a resale or even $400K for a resale flat? if the new flats could be had for less than $100k, I guarantee you the prices of the resale flats will fall drastically.

The HDB has been very clever. In the 70s and 80s, they used to build 30,000 to 40,000 flats a year!! The last few years, only a few thousand, dispite the fact the population is growing. When u have a large demand and small supply, u can justify asking peasants to pay $300K for a new flat, and make extraordinary profits at the same time.

If you look at the PRs numbers, I think the last I saw was 30,000 new PRs. This numbermight be wrong, but lets say there are 30,000 new PRs a year. Not all can qualify to buy a flat and those that qualify might not want to buy, Also, this 30,000 includes children, students, minors, and old people/retirees that can not qualify for a bank loan anyway. So, in reality, from 30,000 PRs, u have maybe 5,000 who can and want to buy. Of this 5,000 who want to buy, some will buy condos or landed property. So, actually, the PR market for HDB flats could be as small as 3000 per year. If you look at the annual HDB transactions, probably 50,000 flats or more (both new and resale) change hands. If the PRs account for 3,000 only, that is not a huge impact and that would not cause the rise in price to this level.

The numbers I used above are my best estimate, I welcome anyone who can quote the exact figures. But you see where I am coming from. Put the blame on the govt. Not PRs.