Pity Young Sporns & Why Emigration is Final Solution

[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published July 25, 2009

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>HDB resale flat prices surge to record high
Some industry watchers are predicting further upside for the year

By EMILYN YAP
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THE HDB resale market seems to be chugging along nicely despite the recession. Soaring demand for resale flats sent prices to a record high in the second quarter, and some industry watchers are predicting further upside for the year.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD> </TD></TR><TR class=caption><TD>APPRECIATING BLOCKS
Upgrading activity aside, the inflow of permanent residents, many from China and India, also contributed to demand for resale flats
</TD></TR></TBODY></TABLE>Data from the Housing and Development Board yesterday showed the resale price index rising 1.4 per cent from the previous quarter to 140.2 in Q2. This is the highest level seen since 1990.
The increase surpassed HDB's flash estimate of a 1.2 per cent rise. It also reversed a 0.8 per cent fall in Q1 - the first slide after nine straight quarters of growth. The price dip in Q1 now seems like a 'statistical blip', said property consultant Nicholas Mak.
Executive flats saw the biggest percentage rise in median resale prices, up 2.2 per cent from a quarter ago to $455,000.
Strong interest in resale flats helped sustain the market. Buyers and sellers filed 10,184 resale applications in Q2 - swelling 58 per cent from Q1 and 31 per cent from a year ago. According to HDB, the quarterly resale registration volume last crossed the 10,000-mark more than four years ago - it was 11,562 in Q4, 2004.
Most of the 10,184 applications in Q2 were for four-room flats, followed by three-roomers and then five-roomers.
However, applications for executive flats showed the greatest increase, doubling from a quarter ago to 753 in Q2. Those for five-room flats also jumped 80 per cent to 2,713. The sharp surge in resale activity involving larger flats suggests that there were more owners who sold their flats to buy private homes, said Mr Mak.
Market analysts have flagged HDB upgraders as a significant group of buyers who revived the private property market. Many went for units in mass-market projects such as Mi Casa and Double Bay Residences.
C&H Realty managing director Albert Lu pointed out that owners of smaller flats are also moving to larger flats. Prices of five-room and executive flats have languished in the last few quarters, making the move more attractive, he said.
Upgrading activity aside, the inflow of permanent residents (PRs) also contributed to demand for resale flats. HSR Property Group chief operating officer Dennis Yong observed that his firm has up to 10 per cent more resale transactions involving PRs in the last few months, and many of them are from China and India.
Buyers remained unwilling to pay high premiums for HDB flats. The median cash-over-valuation (COV) was $3,000 across all flat types in Q2, down slightly from $4,000 in Q1. Notably, most five-room and executive flats were still unable to command any COV.
In a way, the low COV sustained demand for HDB resale flats, said PropNex CEO Mohamed Ismail. 'As the demand is strengthening quickly, sellers are expected to demand a higher COV.' Mr Ismail expects the resale price index to gain around 3 per cent to 145 points by the end of the year. C&H Realty's Mr Lu also projects a 2-3 per cent increase in resale prices.
Just a few months ago, property consultants had feared that HDB resale prices would drop as much as 10 per cent for the whole year. Signs of a stabilising economy and improved sentiment in the property market seem to have soothed nerves.
Statistics from the Urban Redevelopment Authority yesterday also painted a more calming picture. While prices in the residential, commercial and industrial sectors still fell in Q2, the declines were smaller than a quarter ago.
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[makapaaa]

>>>the inflow of permanent residents (PRs) also contributed to demand for resale flats.<<<

Well done, PAPee Traitors!

 

[johnny333]

Actually the young can leave before they get trapped in Spore. For those who do leave they have a future.

Its the uncles & aunties who are trapped in Spore. Especially those who had good jobs.

 

[xebay11]

These high prices mean that the next generation have to pay.

 

[myfoot123]

Actually HDB construction cost is very low, the govt told the media to jack up the price so that the vast profit can be used to cover temasek losses. Simply put, the youngsters are paying off all their future life savings to make up for Ho Jin's billions losses in this crisis.

 

[SamuelStalin]

Actually the young can leave before they get trapped in Spore. For those who do leave they have a future.

Its the uncles & aunties who are trapped in Spore. Especially those who had good jobs.

You are trapped too. Because you had a good job here and came over :p:p:p

 

[SamuelStalin]

These high prices mean that the next generation have to pay.

Next generation Sporn fucks are probably a nation of renters, coming to be like what Japan is.

The younger people in Tokyo often go out shopping and spending whatever they can because they don't really believe in savings ie they KNOW that no matter how much they save they can NEVER buy their own home anyway.

 

[drifter]

Next generation Sporn fucks are probably a nation of renters, coming to be like what Japan is.

The younger people in Tokyo often go out shopping and spending whatever they can because they don't really believe in savings ie they KNOW that no matter how much they save they can NEVER buy their own home anyway.

spot on ...most japanese youngster cant buy house ...they usually rent ( even when they got married ) . but those youngster are more garang ..they come all the way from prefecture to big city ( osaka , tokyo ) . and they are just 18 years old or younger . singaporean kids or youngster are too pamper , still living with parent .

 

[SamuelStalin]

spot on ...most japanese youngster cant buy house ...they usually rent ( even when they got married ) . but those youngster are more garang ..they come all the way from prefecture to big city ( osaka , tokyo ) . and they are just 18 years old or younger . singaporean kids or youngster are too pamper , still living with parent .

And the irony is that while these nihon-jin are perceived as the more wimpy (otakus, kangaroo kids etc) ones also because they don't have to do national service at all yet a number of them like you say are actually more garang and independent together with the Hongkies (who don't need to do NS as well) and even the Americans who are culturally expected to explore and find out their lives for themselves at around the same age, compared to Sporns who do 2 years of compulsory NS and still come out being the same.

Something must be really wrong here.

 

[makapaaa]

Actually HDB construction cost is very low, the govt told the media to jack up the price so that the vast profit can be used to cover temasek losses. Simply put, the youngsters are paying off all their future life savings to make up for Ho Jin's billions losses in this crisis.

$40k to be exact.

 

[Conan the Barbarian]

spot on ...most japanese youngster cant buy house ...they usually rent ( even when they got married ) . but those youngster are more garang ..they come all the way from prefecture to big city ( osaka , tokyo ) . and they are just 18 years old or younger . singaporean kids or youngster are too pamper , still living with parent .

Most young Singaporeans would rather rent and live on their own, but too bad they are worst off then the young Japs. Young Singaporeans cannot even afford the rent. A room will cost upwards of $500, let alone an apartment. Their pay, young grads about $2k after all the deductions.

 

[jim007jimmyboy]

the way PAP is ruling emigration is the best solution for locals!

 

[drifter]

And the irony is that while these nihon-jin are perceived as the more wimpy (otakus, kangaroo kids etc) ones also because they don't have to do national service at all yet a number of them like you say are actually more garang and independent together with the Hongkies (who don't need to do NS as well) and even the Americans who are culturally expected to explore and find out their lives for themselves at around the same age, compared to Sporns who do 2 years of compulsory NS and still come out being the same.

Something must be really wrong here.

i guess , its the education system in singapore and the upbring of their singaporean kaisu, kaisee parent . japanese kids for example , start walking 20meters behind their parent on their own at the age of 3 years when going out ( singaporean kids at the age of 6 years old still using pram ) . by the age of 9 , alot of them can do housework , take a 30mins train ride to school or walk by all by themself .

 

[johnny333]

You are trapped too. Because you had a good job here and came over :p:p:p

Yep, I made a bad decision when I decided to stay in Spore. Over the years the good job I had in Spore turned bad.

When I compare my situation to my friends who've emigrated I can see the real costs of staying in Spore. I might have more money in the bank, paid off my mortgage but they are much happier & contented. They have more balanced life, more security, less stress,..

Take it from someone with first hand experience, Get Out of Spore if you can, you won't regret it.