How PR contributed to volatile HDB prices
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As we know HDB is 99 years old lease. These PRs come in and buy it willing to pay any amount for it and later they can sell it for a meagre sum low value , go back to their country to retire
so the cycle is like PR buy low > sell low later
IF PR buy high > sell low later also possible.
Either way PR may not be interested in making a profit
it doesnt really affect them as long they can go back and retire in their home countries.
If then i dont understand how currently the prices are so high? IS this the case?
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Demand and Supply.
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Originally posted by flapdoodle:
As we know HDB is 99 years old lease. These PRs come in and buy it willing to pay any amount for it and later they can sell it for a meagre sum low value , go back to their country to retire
so the cycle is like PR buy low > sell low later
IF PR buy high > sell low later also possible.
Either way PR may not be interested in making a profit
it doesnt really affect them as long they can go back and retire in their home countries.
If then i dont understand how currently the prices are so high? IS this the case?
If PR is prepared to sell low - should it not benefit a Singaporean who can buy at a price that is lower than the usual prices offered by other Singaporeans ?
Will this Singaporean make a good profit when this unit is offered for sale later ?
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mmm... How come e recent BTO at Punggol, e price are as ex as resale flats over there?
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Originally posted by sbst275:
mmm... How come e recent BTO at Punggol, e price are as ex as resale flats over there?
The most recent Punggol Spectra, or the 2nd last one Punggol Residences, in July?
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The PRs are paying rental for their accommodation. Buying a flat would would mean instead of paying rental they are paying towards ownership of a flat.
Their choice is clear, paying rental and getting nothing back or paying mortgage towards owning a flat, hence the willingness to pay a higher price and push up the HDB prices.
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With the flood of foreigners coming in, its natural that home prices would rise when supply from the govt does not meet the increased demand. The States Times tries to blame it on falling global interest rates, but you can see the following graphs below, the property prices do not move in tandem with other countries. Interest rate is not the sole factor. Other changes such as increased population size, supply of flats and median income all affect property prices.
Private housing prices of Singapore
Private housing prices of other countries.
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sg govt dont believe in median salary..they only believe in average salary..which amounts to roughly $6k per citizen..
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Originally posted by domonkassyu:
sg govt dont believe in median salary..they only believe in average salary..which amounts to roughly $6k per citizen..
It is odd that MOM has reported that the ‘Average Monthly Earning in 2007 is S$3,773’ (*1)
Is your average amount including the Million Dollar Annual Salary paid to the PM and to all of his Cabinet Ministers as well ?
If these super raiders of the National Reserves are removed from the wage list, then the average Singaporean salary will fall to about S$2K per citizen - based on monthly wages to a list of 135 jobs sampled in Year 2008.
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studied this demand and supply thing before, but i wonder why its not the textbook theory..
IF PR buy flat, then sell off later to return to their country, but which PR will do it because his /her job is not secure. Isn't is safer for them to rent?
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Originally posted by sbst275:
mmm... How come e recent BTO at Punggol, e price are as ex as resale flats over there?
pegged to resale flat price. On one hand is Resale market, the other is New market.
If either drops price, the other will drop too...at least i believe
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Originally posted by flapdoodle:
studied this demand and supply thing before, but i wonder why its not the textbook theory..
IF PR buy flat, then sell off later to return to their country, but which PR will do it because his /her job is not secure. Isn't is safer for them to rent?
Not all PRs will buy, but even if they return to their home country, they still can rent out the flat for income.
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Funny thing is people can sell the flat above valution but cannot sell the flat below valuation.
I read from somewhere that HDB will question the buyer/seller if they had sold the flat below valuation.
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Wait, valuers who do the HDB flat appraisal, are they from independent private firms or from HDB itself?
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Originally posted by Calvin86:
Not all PRs will buy, but even if they return to their home country, they still can rent out the flat for income.
they need to pay the full price first...
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Dear all frustrated SIngaporeans,
We have to stop the HDB & COV prices from escalating uncontrollably. As Singaporeans, we are not able to demonstrate on the streets, criticise the govt. openly. However, we can peacefully sign a petition and let the public, media & govt. listen to our voices.
We need to gather 1000 online signatures, please help to spread the word to all your friends who are facing the same issue with increasing unaffordable housing.
Let’s make a difference now! -
Only in Singapore - property prices rising in the middle of a recession.
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Originally posted by charlize:
Only in Singapore - property prices rising in the middle of a recession.
No, Hongkong and London is also rising. -
Has the gahmen abandoned the common people ?
Time to set up "tent city".
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Originally posted by charlize:
Only in Singapore - property prices rising in the middle of a recession.
these are just speculative money which does not reflect income n expediture. -
Originally posted by jojobeach:
Has the gahmen abandoned the common people ?
Time to set up "tent city".
nice....toliet just behind no waiting line.