Serious SINGAPORE: Kicking The EMPTY Can Down The Road

[ahleebabasingaporethief]

There are many instances of our top people here doing this. I will start the thread with my contirbution. Hopefully others will as well. No, I will not talk about CPF.

The current enbloc fever is unreal. The successful over the top bidding developers are doing national service, AND rolling over their debts (unsold units) at the same time.

No market? Create a market. Mktg 101.

Many are now on the market to buy because they have been bought out by en bloc.

So many unsold units (numbers were critcal) will be sold.

So developers will be safe from a current housing crash. Their current enbloc purchases is for them to worry in the next cycle. An even bigger headache when the time comes.

That's kicking the can down the road. Much akin to using your Mastercard to pay for your Visa card.

Interests rates have not gone up yet.

New buyers beware.

At such high prices, good luck to new home owners and developers.

To me, it's a near perfect wayang. A fool is born every minute.

Here, it's 69.9%.

That's all folks!

I leave others to talk about CPF and many other "kicking the can down the road" situations in Singapore

 

[JohnTan]

There is no can being kicked down the road for the property market. Period.

The HDB flats are stated upfront to be 99-year leases. If sinkies insist on mis-reading 99-year lease as permanent ownership till Doomsday, it's their own fucking fault when the government of the day kicks out the occupants when the lease runs out.

 

[theblackhole]

this half full empty can strategy works well
singaporeans are so happy
old uncles and aunties suddenly become millionaires
buy new flat still got millions to spare
great idea this empty can property en block strategy
great greater greatest idea in property strategy
Singapore the best majulah singapura

 

[JohnTan]

this half full empty can strategy works well
singaporeans are so happy
old uncles and aunties suddenly become millionaires
buy new flat still got millions to spare
great idea this empty can property en block strategy
great greater greatest idea in property strategy
Singapore the best majulah singapura

For a cosmopolitan city, Singapore has done extremely well to balance the needs of property owners and aspiring property owners. It's far better than the situation in places like London, San Francisco and HK, where property prices have risen so high that it is nearly impossible for young adults to buy their own homes and start a family.

In HK, government gets a huge part of their budget from property sales. Low property prices translate into budget deficits and fewer benefits for the hongkies.

In Singapore, property sale monies doesn't go into the budget, it goes straight to the reserves. Hence, we have far less vested interests to collude with property barons to fuck the locals, which is the situation hongkong has been in for the past few decades. Hongkies are far better off if they lynch all their property barons and end their practice of hoarding land banks and driving up housing prices to ridiculous levels.

 

[theblackhole]

mr john tan thank you
I just got my flat en bloc
and looking forward to spend my millions
huat ah!!!

 

[shittypore]

Under PAP dust bin can also cost 800k, covered walk way average 300m cost near 1 million, pigeon hole surely can worths more.

 

[rectmobile]

I sense a strong PAP inferiority complex in this thread. A single post needs to be countered by numerous posts. How insecure.

 

[JohnTan]

Under PAP dust bin can also cost 800k, covered walk way average 300m cost near 1 million, pigeon hole surely can worths more.

I am sure the hongkies are doing far better living in such conditions in their public housing. You are welcome to live in their public housing on their median income.

 

[shittypore]

Tos are the poor but here no poor.

 

[zhihau]

No market? Create a market. Mktg 101

When the 69.9% are exhausted, there's always new citizens to tap on? Who's afraid of a shrinking population? :p:p:p

 

[JohnTan]

When the 69.9% are exhausted, there's always new citizens to tap on? Who's afraid of a shrinking population? :p:p:p

I am quite certain our population is not shrinking. We are nearly at 6.9M, and aiming to reach 10M around 1 decade later.

 

[Bigfuck]

Sure. Singapore will be another slum town with lousy infra compared to first world but super compared to many parts of Africa and India for now. Property prices were allowed to escalate as that was the method used by the China government to control Hong Kong.

 

[hofmann]

I am quite certain our population is not shrinking. We are nearly at 6.9M, and aiming to reach 10M around 1 decade later.

300,000 net growth for 10 years after 6.9million achieved? Laughable vision

 

[Leongsam]

I am quite certain our population is not shrinking. We are nearly at 6.9M, and aiming to reach 10M around 1 decade later.

 

[halsey02]

Under PAP dust bin can also cost 800k, covered walk way average 300m cost near 1 million, pigeon hole surely can worths more.

You miss out the part, ah neh becomes Malay , 1 million dollars.

 

[virus]

to ensure a good balance, there will b chinese certified indian and chinese certified malay new zhittyzhens to make sure the ratio is kept

 

[pakchewcheng]

In Singapore, property sale monies doesn't go into the budget, it goes straight to the reserves.

ROTFFLMFAOLKITA !!


Do tell us about reserves! That went into Gee Eye See?
Or into Tumahsick?



ROTFFLMFAOLKITA !!

 

[winnipegjets]

For a cosmopolitan city, Singapore has done extremely well to balance the needs of property owners and aspiring property owners. It's far better than the situation in places like London, San Francisco and HK, where property prices have risen so high that it is nearly impossible for young adults to buy their own homes and start a family.

Balance what? Pay so much for 99-year lease. In West, pay once, own it forever.

 

[Leongsam]

Balance what? Pay so much for 99-year lease. In West, pay once, own it forever.

That's rubbish there are plenty of leasehold properties in the West too.

In NZ buying a leasehold unit is fraught with dangers and this is because many contain a clause which allows the land owners to ratchet up the ground rent every few years. Units plunge in value as a result.

In some cases they can't even be given away as they are far too expensive to live in.

 

[winnipegjets]

That's rubbish there are plenty of leasehold properties in the West too.

In NZ buying a leasehold unit is fraught with dangers and this is because many contain a clause which allows the land owners to ratchet up the ground rent every few years. Units plunge in value as a result.

In some cases they can't even be given away as they are far too expensive to live in.

My mistake ...when I think of the West, it is US and Canada. Anyway, leasehold property will not command as high as a price as in sinkapore.