Excerpts from the Straits Times:
PRICES of Housing Board flats have reached a historical record, rising 1.4 per cent in the second quarter this year, reversing a first-quarter dip of 0.8 per cent.
Fresh data released from the HDB on Friday shows the resale price index rising to 140.2 – beating the previous record set in the fourth quarter of last year when it hit just over 139.
The figures have come in slightly higher than flash estimates released earlier this month which showed that prices rose 1.2 per cent.
Sales of HDB resale flats also surged 58 per cent, reflecting improved market sentiment, to reach 10,184 transactions in the second quarter, compared to 6,446 in the first quarter.
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We are married for 1 year with baby coming soon.
Recently , I am so disgusted with the high COV..was at a HDB open house .with 3-4 group of buyers. Each bidding higher and higher till the flat is finally sold at a whopping COV of $30K when the seller is asking for $10K negiotiable.
As a Singaporean , we cant even afford to meet our basic need – housing.
It is such a shame to fight over housing with those foreigners.
They can chose to go back to their hometown if anything bad happen in Singapore but can we as a Singaporean.
Where should we go where our garmen are not proecting our interests.
They want to attract more PR yet they are not doing anything to solve the housing issue ..
The ” wind of Change ” is happening. Firstly Taiwan then Japan. The long ruling party was replaced by the opposition. Will Sinkapore fellow ? It is up to Sinkaporean to decide and it is within their power to do so. Generally cost of living is rising faster then income if one has one . For those poor soul who had lost their job, homelessness await. Social justice is not the preserve of any nation especially Western but Eastern nations could equally practise it without bankcorrupting the treasury. Extending a helping hand to those in needs is good for the soul, sadly I must add, the current regime had lost its soul years ago.Sinkaporean exercise your right and bring change to our country.
I think what we need to do is vote out one of those GRCs, and they will understand we mean business.
Many years back when I was still staying in Boon Lay Place, We did this in the last election before BL was made part of Jurong West. The MP than was a Mr Goh, and he did nothing for the whole place, and he always win because the opp never take notice of BL, and each election a non-chinese came and Mr Goh would win at least 70%.
Than came the final one, can’t remember was it a WP or SDP, a chinese opp candidate. In that election, with 70% chinese in BL, Mr Goh won, but with just above 50% vote, a drop of 20 over % and almost lost the seat. Right after the election, he left, BL became part of Jurong West GRC and upgrading started. Now BL is a beatiful town!
If he had stayed on as MP of BL, if BL has not become part of JW GRC, if the same opp candidate came back to fight in the following election, the opp party would win BL.
Our family of 6 went to vote, 5 votes went to the opp party, we did not know who he was, was he to do us good, we just wanted to vote him in because we were so sick and tired.
We need to let the bosses know, HDB flats were meant to be a place we SINGAPOREAN call home, not for some PRs to come and make money out of it.
It is in the PAP regime’s interest to keep the resale market high so that the new flat would be priced at a premium also. It is all about making money – Sinkapore under PAP is now manage like a corporation. Either join in the game or ship out or vote them out come the general election. We Sinkaporean had few choices. We were born there and are stuck with it. We must focus mind and help those who are brave enough to risk their liberty and wealth to bring change to our tiny red dot. It is up to us to help these people to bring change for the future benefit of our children. We had heard all the lies under the sun from the PAP regime and surely we had grown wise to it by now. Those of us who take the time to blog to share our feeling and thought should help spread the message to those who are too busy to read much as their effort is directed into earning a living. We know many Sinkaporean are struggling to make end meet each month. Those who had retired are those that suffered most as their income is fixed but cost of living is raising relentlessly. Essential like ultilities are rising and day to day cost are rising faster compare to our “poor corrupt” neigbours. IT is time to put a stop to these PAP nonsense and start anew with the opposition party. Japan and Taiwan had voted in their opposition parties and we Sinkaporean could do it as well. There is nothing to fear except we will hear more from LKY about no one else could be trusted to ran Sinkapore except him and his famiLee . We will hear more threats with inflation from him come the general election. Threat inflation cost nothing to say but we are wise enough to distinctish between fact and fiction.We must show him that we had enough of his nonsense and he could retire with the rest of his famiLEE in China with his billion of dollar for the rest of their life and we Sinkaporean would not miss him at all. That would be a good parting gift from Singaporean. We must stand up and take our destiny back into our hand.50 year is a long time and for the sake of our children we must correct a mistake we and our fore fathers had made and put the wrong right.
How can the elites not see this coming?
Are they planning for Singapore or the People? (frankly, I think it’s only for “their” people)
In the midst of buying a flat, born a Singaporean, we know that the government standings to build future Singapore is not moving to welfare countries such as Canada and Sweden.
We get CPF – originally plan to help us save for our retirement.
Then, we get to “use” CPF for buying house and recently, paying for tuition fees etc..
Let’s talk about the house. A simple calculation for an average Sinaporean:
Say a 4 room flat in Punggol cost $300,000. Your parents are no where within 2km reach.
Then you and your wife get a grant amounting to $40,000 for first time buyers.
Then HDB take all your CPF remains, plus your wife’s. Say a total of $30,000. Bare in mind, you have $0 left in CPF.
What’s left = $260,000-$40,000-$30,000=$230,000
Let’s say we take HDB’s popular 30 years loan and we don’t include the interest.
30 years = 12×30 = 360 months
Each month you pay HDB = 230,000/360 = $640 (estimated)
An average Singaporean may draw out $2000 a month, CPF contribution = $400
If we 50-50 with your wife, we will have a total of $800 CPF contribution a month.
So, we pay HDB monthly, let see what we have left for CPF monthly,
$800-$640 = $160
After 30 years, this is what we have roughly for CPF = $160 x 30 = $48,000
Imagine you have that amount left for retirement. Yes, we did not include our 13 month bonus, performance bonus – how much can that amount to?
And yes, we still have an asset, which the house we just finish paying. Does this mean we can sell it and downgrade to have enough money for a 60 year old? Also, bare in mind, what we calculated is base on 50-50 with your wife. What if your wife have to stay home, look after the kids some point in future? You have to pay 100%. What if you are down with a disease, that disables you from working? The ‘what if’s’ go on and on…
Are we leaving to PAP – pay and pay?
what is the point of complaining when we know nothing can be changed maoning and graoning here
while typing away our miseries here..someone out there closing a 30 or 80k deal for hdb flat.instead realise what we need ? a flat? if there is an urgency we should lower down the expectation and get our within our means. price never go down as now only one way street to new flat.BTO. unless you love senkang punggol.trust me price never go down as demand vs supply.cov drop when valuations hit maximum.even that for non prime locations. make yr calculations.pay 30k now or 60k more in cpf when valuation hit maximum.both also our money.i rather have a lower loan. faster to clear then paying higher installment juz to get a 5k cov.think
Is CPF as successful , if successful, as it was meant to be?