Goondu: Mabroky Should Build Smaller Flats!

[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>Sep 26, 2009
Harmful practices
</TR><!-- headline one : start --><TR>'We are creating our own housing bubble.'
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->WEDNESDAY'S editorial, 'Watching HDB price behaviour, sensibly', suggested that the sudden spurt in private property prices since July has boosted HDB values.
That may be true but may not the reverse also be true, that is, that HDB values have also boosted private property prices?
In some HDB estates, the prices of four- and five-room flats have risen by $100,000 or more over the past six years. How
will this not affect property prices in general?
The HDB says its flats are highly subsidised, which I understand to be more a case of discount on commercial prices.
However, as there is no developer of public housing except the HDB, from where are such commercial prices drawn?
The editorial made another excellent point, urging buyers to exercise their democratic right not to pay a premium by considering non-prime townships.
Perhaps the democratic right would be better exercised by demanding that the HDB build more smaller flats so buyers are not saddled with a lifetime of debt.

=> Exercise it in the next GE lah!

Buying small and then upgrading to a bigger flat later when you can comfortably afford it should be a safer way for buyers.
At the rate that housing prices are moving, we are creating our own housing bubble.
Coupled with the culture of easy bank loans and credit cards, it makes thinking Singaporeans wonder why the Government is allowing these harmful practices, even as the United States government is trying all ways to dampen such practices.
Chia Hern Keng
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[potato29]

Perhaps the democratic right would be better exercised by demanding that the HDB build more smaller flats so buyers are not saddled with a lifetime of debt.

i don't think size of the flats is the issue. it's the price that have been spiralling upwards that will saddle buyers with a lifetime of debt.

 

[chinkangkor]

Flat sizes have already come down over the years. Previously, a new four room flat had a size of 110 sq m in the 1990s; now, it is only 92 sq m. Interestingly, the average price back then was $100k; now it is $300k.

Have our incomes grown so much?

 

[Gillette]

Mr Chia Hern Keng missed the crux of the issue. The spiraling flat prices is a result of insufficient supply since HDB moved to the BTO model. Building smaller flats will not help reduce the unit prices. Build more flats and the price will fall.

As the biggest landlord in Singapore, HDB and SLA are working hand in hand to ensure residential prices stay up high. There is plenty for the government to gain – money from land sales, stamp duties, and property taxes.

 

[johnny333]

Have our incomes grown so much?

I think HDB prices is more correlated to MPs pay than to peasants pay

 

[SamuelStalin]

Flat sizes have already come down over the years. Previously, a new four room flat had a size of 110 sq m in the 1990s; now, it is only 92 sq m. Interestingly, the average price back then was $100k; now it is $300k.

Have our incomes grown so much?

It's quite the same with those who lived in flat-imitates called condominiums.

In the 90s people would do one person's job each and actually get paid rather well, but nowadays we heard that people would have to do five persons' jobs each and get paid much lesser.

Is this social progress really.