Demand for HDB flats high

[nitecrawllerr]

DEMAND has been red-hot for two recent launches from the Housing and Development Board (HDB), with more than 10 times as many applicants than flats available.
An offering of 150 smaller flats - studios to three-roomers - was swamped with 2,426 applications in the space of just a week.

And, last Friday, the half-yearly sale of three-room premium, four-room and bigger flats achieved an extraordinary response: 7,036 applications have been submitted for 683 units, yet the offer still runs until Thursday.

The launch of the smaller units featured three-roomers, two-roomers and studios in estates across the island, including Bukit Merah, Geylang, Jurong East, Sengkang, Ang Mo Kio and Marine Parade.

There were 582 applications for studios and 1,844 for two- and three-roomers combined in the offer from Oct 2-8.

Studio prices range from $62,900 to $116,400. The two-roomers go for $74,000 to $106,300, while a three-room flat will set you back $134,500 to $275,200.

PropNex chief executive Mohamed Ismail was not surprised at the robust demand: 'HDB prices, although subsidised, have gone up. Lower-income households are left with not much choice but to turn to three-room flats as a starting platform.

Up up and up again.

 

[myjohnson]

Would it be too far fetched that the reason for the unreasonably high increase in resale prices despite the bleak economic outlook is due to the high rental rates resulting in FTPRs opting to buy instead instead of renting? That what I gathered from my real eatate agent pals.

 

[depeche]

Buying a HDB flat would enable the government to further control the people...so it's always a welcome sign to them for the overwhelming response...

 

[sherrry]

They miscalculated a long time back.

When HDB came about, they thought that the parents would die early, so that the kids can inherit & have less to spend on when they come of age to start their own families. they forgot that it's almost impossible for siblings to start their own families all cramped in a typical HDB. Out of 2 kids (for example), 1 has to sacrifice & own his own, while the other remains with the parents.

Miscalculated again, when medicine improves, people become learned & maintain healthy living, hence lving longer years.

So, when the older generation doesn't die fast enough, the younger generation inherits nothing. So, out of 2 kids (example), both have to sacrifice & own their own apartments, in order to start their own families.

There're plenty out there with more than 3 kids during the late 80s, after the 'stop at 2' was lifted. As of now, many should probably in good age to marry & start families. Its for certain that the demand will continue to rise, when those born in the late 80s & early 90s start maturing for marriage.

 

[DIVISION1]

Intergenerational wealth transfers are a very difficult thing to appreciate, with regards to the impact on future economic competitiveness, tax revenues and government expenditures. Fortunately, Singapore did not take up a pension system. The combination of both intergenerational wealth transfers and pensision systems running amock, has the same disastrous impact as a over-leveraged derivatives market running amock.

 

[VIBGYOR]

Intergenerational wealth transfers are a very difficult thing to appreciate, with regards to the impact on future economic competitiveness, tax revenues and government expenditures. Fortunately, Singapore did not take up a pension system. The combination of both intergenerational wealth transfers and pensision systems running amock, has the same disastrous impact as a over-leveraged derivatives market running amock.

could you please come down to earth?

you are much too far out in outer-space.

 

[pia]

Intergenerational wealth transfers are a very difficult thing to appreciate, with regards to the impact on future economic competitiveness, tax revenues and government expenditures. Fortunately, Singapore did not take up a pension system. The combination of both intergenerational wealth transfers and pensision systems running amock, has the same disastrous impact as a over-leveraged derivatives market running amock.

From your replies in this forum, I'm starting to see where your nick "division1" comes from.. your grade where you work?