Property News

[Zelphon]

So far HDB always SERs before hit 99 years, like freehold.

This is not true..

SERS is selective and you see them because the old HDB is usually low floors and sitting on a big plot of land..

Now only SG50..
Many HDB leases not yet hit..

In fact, many people do not know what happen when lease expires... because none has expired yet..

This is actually a working time bomb and PAP govt is trying to diffuse by offering carrots to buy back tail end of leases from the aged poor...

 

[cybermad]

By your reasoning, all Hong Kongers are screwed since most HK leases are either on 50 years lease, or ends in 2047? Please come back to MYR or SG, Jho Low!

LOL, i think only those listening to his logic are screwed !

 

[xebay11]

By your reasoning, all Hong Kongers are screwed since most HK leases are either on 50 years lease, or ends in 2047? Please come back to MYR or SG, Jho Low!

Not my logic, originator of the screwed concept is Frodo, but yes I agree they Hong Kongers are screwed that is why many have migrated.

 

[xebay11]

LOL, i think only those listening to his logic are screwed !

You saying about Frodo?

 

[cybermad]

You saying about Frodo?

No, I am saying You.

Frodo did not say leasehold buyers are screwed. He was just asking whether are they screwed . Dun twist and turn.

 

[Tekkun]

No, I am saying You.

Frodo did not say leasehold buyers are screwed. He was just asking whether are they screwed . Dun twist and turn.

Defination of screwing: Twisting and turning something.

 

[freekazoid]

[video=youtube_share;7oRvx66KUxg]https://youtu.be/7oRvx66KUxg[/video]

 

[xebay11]

No, I am saying You.

Frodo did not say leasehold buyers are screwed. He was just asking whether are they screwed . Dun twist and turn.

Doesn't make any difference screwed is screwed.

 

[xebay11]

Defination of screwing: Twisting and turning something.

Yah yah Einstien.

 

[sense]

Singapore homes seriously unaffordable: report
Romesh Navaratnarajah • February 23, 2016


Singapore’s market cooling measures have been effective in reducing the prices of HDB flats and private homes over the past few years, but housing costs here are still seen as too high, revealed findings published by a global report last month.


According to the 12th Annual Demographia International Housing Affordability Survey, Singapore has a “seriously unaffordable” rating of 5.0, no change from last year’s survey.


The report used the median multiple indicator, which is the median house price divided by gross annual median household income, to rate housing affordability across 367 cities in nine countries.


A grade of 3.0 and below is considered affordable, 3.1 to 4.0 (moderately unaffordable), 4.1 to 5.0 (seriously unaffordable) and 5.1 and over (severely unaffordable).


Despite being seen as expensive, the report noted that “Singapore has been far more successful in controlling housing affordability than in markets that have followed the British urban containment model”.


Specifically, the HDB was recognized for ramping up the supply of new flats and reducing new home prices.


“One strategy has been to increase what are effectively “across the board” subsidies for all new houses (not counting special grants, such as for first home buyers).


“Should the present policy continue, it is likely that resale house prices will rise slower or even fall in the future, improving Singapore’s housing affordability,” said Demographia.


Eligible first-time buyers of new HDB flats currently enjoy up to $80,000 in housing grants, comprising up to $40,000 in Special CPF Housing Grants and up to $40,000 in Additional CPF Housing Grants.


Meanwhile, Hong Kong has the least affordable housing in the world, with a median multiple of 19.0. This rating is also the highest recorded in the 12 years of the Demographia Survey.


http://www.propertyguru.com.sg/prop...singapore-homes-seriously-unaffordable-report

 

[xebay11]

Singapore homes seriously unaffordable: report
Romesh Navaratnarajah • February 23, 2016


Singapore’s market cooling measures have been effective in reducing the prices of HDB flats and private homes over the past few years, but housing costs here are still seen as too high, revealed findings published by a global report last month.


According to the 12th Annual Demographia International Housing Affordability Survey, Singapore has a “seriously unaffordable” rating of 5.0, no change from last year’s survey.


The report used the median multiple indicator, which is the median house price divided by gross annual median household income, to rate housing affordability across 367 cities in nine countries.


A grade of 3.0 and below is considered affordable, 3.1 to 4.0 (moderately unaffordable), 4.1 to 5.0 (seriously unaffordable) and 5.1 and over (severely unaffordable).


Despite being seen as expensive, the report noted that “Singapore has been far more successful in controlling housing affordability than in markets that have followed the British urban containment model”.


Specifically, the HDB was recognized for ramping up the supply of new flats and reducing new home prices.


“One strategy has been to increase what are effectively “across the board” subsidies for all new houses (not counting special grants, such as for first home buyers).


“Should the present policy continue, it is likely that resale house prices will rise slower or even fall in the future, improving Singapore’s housing affordability,” said Demographia.


Eligible first-time buyers of new HDB flats currently enjoy up to $80,000 in housing grants, comprising up to $40,000 in Special CPF Housing Grants and up to $40,000 in Additional CPF Housing Grants.


Meanwhile, Hong Kong has the least affordable housing in the world, with a median multiple of 19.0. This rating is also the highest recorded in the 12 years of the Demographia Survey.


http://www.propertyguru.com.sg/prop...singapore-homes-seriously-unaffordable-report

Hermes and Birkin also seriously unaffordable. So your point?

 

[mpan12]

All these reports are just to scare the government and people.

Singapore properties will not fail even if the prices remain where they are or increase from here.

What's the reason?

There are too many rich people in Singapore.

Some people say condos in SG cannot buy any more because they have become overly expensive. Yet in the past few launches, we see so many units got snapped up. Why don't these buyers go to Iskandar instead to buy? 1 small condo in Singapore can easily buy them 3-4 bigger ones in Iskandar!

Clearly, investors' trust in Singapore as a whole is very strong.

Some want the cooling measures to be removed. I don't think it will happen so soon. If the government did that, there would be a rush to buy more properties. Even with the ABSD, I still hear there are Singaporeans willing to pay 7% or 10% extra to buy additional properties. How's that for being rich?

 

[Investor888]

Many units snapped up? Omg Kingsford at Hillview has been selling for 2-3 years! And I still get to see their advertisements. The market is very bad now for your info. Sentosa Patio units going for S$1100 PSF recently Cheaper than my city fringe condo

All these reports are just to scare the government and people.

Singapore properties will not fail even if the prices remain where they are or increase from here.

What's the reason?

There are too many rich people in Singapore.

Some people say condos in SG cannot buy any more because they have become overly expensive. Yet in the past few launches, we see so many units got snapped up. Why don't these buyers go to Iskandar instead to buy? 1 small condo in Singapore can easily buy them 3-4 bigger ones in Iskandar!

Clearly, investors' trust in Singapore as a whole is very strong.

Some want the cooling measures to be removed. I don't think it will happen so soon. If the government did that, there would be a rush to buy more properties. Even with the ABSD, I still hear there are Singaporeans willing to pay 7% or 10% extra to buy additional properties. How's that for being rich?

 

[Tekkun]

Many units snapped up? Omg Kingsford at Hillview has been selling for 2-3 years! And I still get to see their advertisements. The market is very bad now for your info. Sentosa Patio units going for S$1100 PSF recently Cheaper than my city fringe condo

Just log in to those URA sites and you get all the info you want. Then you see the real picture yourself.

https://www.ura.gov.sg/realEstateIIWeb/transaction/search.action

Last year I was interested to invest in Singapore. I even have a spread sheet on all the properties I wanted to track the psf individually.
And in the end, I chickened.

 

[Frodo]

All these reports are just to scare the government and people.

Singapore properties will not fail even if the prices remain where they are or increase from here.

What's the reason?

There are too many rich people in Singapore.

Some people say condos in SG cannot buy any more because they have become overly expensive. Yet in the past few launches, we see so many units got snapped up. Why don't these buyers go to Iskandar instead to buy? 1 small condo in Singapore can easily buy them 3-4 bigger ones in Iskandar!

Clearly, investors' trust in Singapore as a whole is very strong.

Some want the cooling measures to be removed. I don't think it will happen so soon. If the government did that, there would be a rush to buy more properties. Even with the ABSD, I still hear there are Singaporeans willing to pay 7% or 10% extra to buy additional properties. How's that for being rich?

People who are rich will find it cheap to live in Singapore. So they will not even think much of JB at all. But peasant folks like me see things e opposite. Expensive to live in Singapore so JB is cost savings haven.

 

[Investor888]

JB is the solution to many Sinkies answer

When Titantic is sinking, you will cling onto any mobile sampan that comes your way just to keep your head above water

People who are rich will find it cheap to live in Singapore. So they will not even think much of JB at all. But peasant folks like me see things e opposite. Expensive to live in Singapore so JB is cost savings haven.

 

[mpan12]

People who are rich will find it cheap to live in Singapore. So they will not even think much of JB at all. But peasant folks like me see things e opposite. Expensive to live in Singapore so JB is cost savings haven.

Yes, but it's also the confidence in the country.

It's not necessarily just the rich who want to stay here to "play" and make money. The common folks trust in the whole SG system. Despite the high cost of living, they try to work around and live simply but not in a miserly manner. It can definitely be done.

Sometimes, the whole problem in SG is overhyped. For eg, is it really necessary to send your kids to expensive tuition? I don't think so. It's also not necessary to eat in fanciful restaurants. Sure JB foods are cheaper. But in SG, you can get a plate of chicken rice for S$4. How expensive is that? With a salary of S$3-4k a month, I'd say that is very manageable. But people here want to eat in restaurants. Then they are asking for it.

Similarly, some say why live in "pigeon-hole" homes in SG? In JB, you can live like a king in a landed property for the same price of a small HDB flat. But why do people want to stay in such a big house for? I can't appreciate that. For me, I just need a computer for my work and entertainment and TV for certain occasions when I'm bored. A big house is sometimes just an excuse to make one feel "like a king". But you probably end up buying lots of unneeded stuffs and spend a lot of time cleaning the home.

It's about expectations and managing one's lifestyle.

For the high cost of living in SG, you get safety, good educational system, non-corrupt government (though I think overpaid), and good many other things. There are important tradeoffs when one relocates to a place like JB.

I constantly have chats with my colleagues and friends, be they Malay/Chinese Singaporeans, China/India immigrants who are settled down in Singapore with their families and importantly, Malaysians themselves. They all have reservations about relocating to Iskandar/JB in the long term. Never even crossed their minds about retirement there. Those with families also have their kids in mind.

So those who often say Iskandar will boom because Singaporeans will eventually cross over, I'd say Don't bullshit. Sure, anything can happen in future. But this prediction is a idealistic situation that has no basis. In 15-20 years time, we could very well see a status quo where Iskandar is probably more established with some businesses there. But residential-wise, I personally doubt we will see an exodus of Singaporeans moving over.

No offence but Malaysia is too laid back and a 3rd world for the general Singaporean to move over. It's a great place to visit as a tourist and chill out for a short while. Unless it becomes a 1st world and "proper" country like Japan or Australia, it's unthinkable for people in SG to move over there. But I doubt it can reach a 1st world status that soon.

 

[Frodo]

Yes, but it's also the confidence in the country.

It's not necessarily just the rich who want to stay here to "play" and make money. The common folks trust in the whole SG system. Despite the high cost of living, they try to work around and live simply but not in a miserly manner. It can definitely be done.

Sometimes, the whole problem in SG is overhyped. For eg, is it really necessary to send your kids to expensive tuition? I don't think so. It's also not necessary to eat in fanciful restaurants. Sure JB foods are cheaper. But in SG, you can get a plate of chicken rice for S$4. How expensive is that? With a salary of S$3-4k a month, I'd say that is very manageable. But people here want to eat in restaurants. Then they are asking for it.

Similarly, some say why live in "pigeon-hole" homes in SG? In JB, you can live like a king in a landed property for the same price of a small HDB flat. But why do people want to stay in such a big house for? I can't appreciate that. For me, I just need a computer for my work and entertainment and TV for certain occasions when I'm bored. A big house is sometimes just an excuse to make one feel "like a king". But you probably end up buying lots of unneeded stuffs and spend a lot of time cleaning the home.

It's about expectations and managing one's lifestyle.

For the high cost of living in SG, you get safety, good educational system, non-corrupt government (though I think overpaid), and good many other things. There are important tradeoffs when one relocates to a place like JB.

I constantly have chats with my colleagues and friends, be they Malay/Chinese Singaporeans, China/India immigrants who are settled down in Singapore with their families and importantly, Malaysians themselves. They all have reservations about relocating to Iskandar/JB in the long term. Never even crossed their minds about retirement there. Those with families also have their kids in mind.

So those who often say Iskandar will boom because Singaporeans will eventually cross over, I'd say Don't bullshit. Sure, anything can happen in future. But this prediction is a idealistic situation that has no basis. In 15-20 years time, we could very well see a status quo where Iskandar is probably more established with some businesses there. But residential-wise, I personally doubt we will see an exodus of Singaporeans moving over.

No offence but Malaysia is too laid back and a 3rd world for the general Singaporean to move over. It's a great place to visit as a tourist and chill out for a short while. Unless it becomes a 1st world and "proper" country like Japan or Australia, it's unthinkable for people in SG to move over there. But I doubt it can reach a 1st world status that soon.

It was unthinkable for me to move over to JB if you ask me this question three years ago. As a place to visit and shop and eat is ok as we like to do that a few times a month, but to stay? That is insanely crazy, what with all the traffic jams and "backward" lifestyle to contend with. And also suicidal to brave the daily commute to work during peak hours. Staying put was staying safe and staying comfortable..but it was also status quo.

So when baby came along in 2013 the first thought was "let's get a bigger HDB". The search for a bigger house with more rooms was depressing, considering the price of flats and the COV sellers are asking for. We can't wait for BTO which is not much bigger than our 4 room flat anyway, and existing bigger flats are $700K excluding COV. As you can see, there's not much option available in Singapore, for people like me with with not much money. JB was suggested to us as a viable option. So with baby in tow we decided to go out of our comfort zone and looked around for a bigger house for a much smaller price. And before long we found ourselves moved over, all in 5 months. Fast forward a couple of years, baby has grown in a non SG environment while her siblings had grown up in HDB neighbourhood, I have also gone through more than two years of daily work commute, on bike some more! Financially still very tight because of loans taken for the JB house but overall we feel that quality of life much better than before. The favourable currency rates definitely stretched the dollar. A $4 plate of chicken rice for one person can buy two plates of hor fun in JB.

Definitely there is a trade off when we move over from SG, but in my own experience so far, it has been more positive than negative. It may not be the same for everyone, depending on each person's situation and preferences.

The thing is that we changed our minds, what was once the unthinkable became the norm for us. So perhaps it is never say never. But it probably would take a leap of faith to step out of our kiasi SG trait. We had a lot of fears at the start too...but now we are more at ease. Maybe a few years down the road we become blended in, and start conversing in Malay...LOL!

 

[freekazoid]

Yes, but it's also the confidence in the country.

It's not necessarily just the rich who want to stay here to "play" and make money. The common folks trust in the whole SG system. Despite the high cost of living, they try to work around and live simply but not in a miserly manner. It can definitely be done.

Sometimes, the whole problem in SG is overhyped. For eg, is it really necessary to send your kids to expensive tuition? I don't think so. It's also not necessary to eat in fanciful restaurants. Sure JB foods are cheaper. But in SG, you can get a plate of chicken rice for S$4. How expensive is that? With a salary of S$3-4k a month, I'd say that is very manageable. But people here want to eat in restaurants. Then they are asking for it.

Similarly, some say why live in "pigeon-hole" homes in SG? In JB, you can live like a king in a landed property for the same price of a small HDB flat. But why do people want to stay in such a big house for? I can't appreciate that. For me, I just need a computer for my work and entertainment and TV for certain occasions when I'm bored. A big house is sometimes just an excuse to make one feel "like a king". But you probably end up buying lots of unneeded stuffs and spend a lot of time cleaning the home.

It's about expectations and managing one's lifestyle.

For the high cost of living in SG, you get safety, good educational system, non-corrupt government (though I think overpaid), and good many other things. There are important tradeoffs when one relocates to a place like JB.

I constantly have chats with my colleagues and friends, be they Malay/Chinese Singaporeans, China/India immigrants who are settled down in Singapore with their families and importantly, Malaysians themselves. They all have reservations about relocating to Iskandar/JB in the long term. Never even crossed their minds about retirement there. Those with families also have their kids in mind.

So those who often say Iskandar will boom because Singaporeans will eventually cross over, I'd say Don't bullshit. Sure, anything can happen in future. But this prediction is a idealistic situation that has no basis. In 15-20 years time, we could very well see a status quo where Iskandar is probably more established with some businesses there. But residential-wise, I personally doubt we will see an exodus of Singaporeans moving over.

No offence but Malaysia is too laid back and a 3rd world for the general Singaporean to move over. It's a great place to visit as a tourist and chill out for a short while. Unless it becomes a 1st world and "proper" country like Japan or Australia, it's unthinkable for people in SG to move over there. But I doubt it can reach a 1st world status that soon.

This is your personal view influence by self profile of a single person....and a small group of people of the similar segment. The view lack homework...lack strategy...lack maturity...lack every attributes of an astute definition....LOL

Single people segment or view are the bottom of my list. They are agile....flexible....have no consistent principle...always have a doze of negative prejudice....has 20 other higher priorities in life other than own house...and very much lack the buying power. In any property investment....I stay away from property profile for single....likewise the view given by single is inexperience to be relevant...

This is the same with me a dozen years ago when I was dumb as hell...but think I know the world.

 

[mpan12]

Don't quite understand your presentation here due to language issue.

1. Are you saying my view is biased and I am viewing it from a single person's point of view? Or...

2. Are you saying what I have described is relevant to only singles out there and not to married people?

If it's 1 above, I've already mentioned it's the views expressed by many people. It's not my own view. It's fact. Neither you nor I can change that.

If it's 2, it's not likely. It's the families in Singapore who will not readily consider moving over to JB/Iskandar.

This is your personal view influence by self profile of a single person....and a small group of people of the similar segment. The view lack homework...lack strategy...lack maturity...lack every attributes of an astute definition....LOL

Single people segment or view are the bottom of my list. They are agile....flexible....have no consistent principle...always have a doze of negative prejudice....has 20 other higher priorities in life other than own house...and very much lack the buying power. In any property investment....I stay away from property profile for single....likewise the view given by single is inexperience to be relevant...

This is the same with me a dozen years ago when I was dumb as hell...but think I know the world.