HDB prices

[hindsight]

Apple and orange man...he's talking about hdb and you are talking about private properties.

Dude at least read the post properly before you post something like this...


Aside from the private home supply glut, the occupancy rate will also be pressured by growing public housing completions over the coming quarters.
Barclays expects public housing completions to increase from 28,000 units in 2014 to 26,000 this year and 20,000 by end-2016.

Vacancy rate includes HDB flats, its total supply.

 

[djchris]

Dude at least read the post properly before you post something like this...


Aside from the private home supply glut, the occupancy rate will also be pressured by growing public housing completions over the coming quarters.
Barclays expects public housing completions to increase from 28,000 units in 2014 to 26,000 this year and 20,000 by end-2016.

Vacancy rate includes HDB flats, its total supply.

Haha! Then at least bold the right sentences.

 

[focus1974]

I am very sure the government is not overbuilding.
They have learnt their lesson in underbuilding and is now building ahead of demand.
where is the demand coming from?
I can tell you .. they have not change their stance on the population policy and have not veered away from the population growth of 6.9mil to 10mil figure..

as long as PAP wins this election, it's gentlemen start your engine. and flood gate will be opened wide wide once again..

 

[hindsight]

Haha! Then at least bold the right sentences.

I highlighted what was relevant i.e vacancy rate is set to grow and prices tend to drop when that happens, not sure how you concluded that it was the wrong sentence to highlight. Anyway this is a very short article, not some WOT, how hard is it to read the entire article?

 

[hindsight]

I am very sure the government is not overbuilding.
They have learnt their lesson in underbuilding and is now building ahead of demand.
where is the demand coming from?
I can tell you .. they have not change their stance on the population policy and have not veered away from the population growth of 6.9mil to 10mil figure..

as long as PAP wins this election, it's gentlemen start your engine. and flood gate will be opened wide wide once again..

KBW wouldn't be tapering supply now if he wasn't expecting a glut in the next few years. 6.9m or 10m may or may not happen, it makes no sense to build housing for 10m population right now when that could never happen, or even if it happens it could be 40 years from now.

 

[dork32]

I am very sure the government is not overbuilding.
They have learnt their lesson in underbuilding and is now building ahead of demand.
where is the demand coming from?
I can tell you .. they have not change their stance on the population policy and have not veered away from the population growth of 6.9mil to 10mil figure..

as long as PAP wins this election, it's gentlemen start your engine. and flood gate will be opened wide wide once again..

hdb had overbuilt before. thousands of empty flats were left standing. to prevent this problem, they switch to the bto scheme, which is what we see today.

 

[seanyboydad]

Overbuild just turn the tap on and allow more people to come in. Underbuild, difficult to catch up ..... Takes time. Agree that gov is preparing for more inflow as that's the easy way to grow the economy.

Sent from nobody using GAGT

 

[zoossh]

hdb had overbuilt before. thousands of empty flats were left standing. to prevent this problem, they switch to the bto scheme, which is what we see today.

empty could be bad location + bad price + restriction on sinkies.
does not mean overbuilt.

overbuild means
no of empty flats > no of people with desire (but no money) to buy

 

[dork32]

empty could be bad location + bad price + restriction on sinkies.
does not mean overbuilt.

overbuild means
no of empty flats > no of people with desire (but no money) to buy

can you see whole block of completed flats that are built that are completely empty these days?

it was like that more than 10 years ago.

long ago, hdb just build flats and people queue to buy. then they overbuilt. many empty flats all over non-mature estates. they start the bto system which starts to build only when the flats are sold. then they underbuilt and switch back to the old method again.

maybe you are too young to see this period.

 

[dork32]

if you are willing to take up these completed flats at that time, there was no queue. you can the keys immediately.

 

[dork32]

if you read this article, you will realise that hdb has built too many flats from 2002 to 2006,

http://www.mnd.gov.sg/reflections_housing/article1.htm

 

[hindsight]

Overbuild just turn the tap on and allow more people to come in. Underbuild, difficult to catch up ..... Takes time. Agree that gov is preparing for more inflow as that's the easy way to grow the economy.

Sent from nobody using GAGT

More inflow is expected, but it will not be at the pace we saw 10 years ago, in fact net immigration has already slowed, we have less PRs now compared to 4 years ago, only the number of citizens have gone up, and not by much, only 25k per year.

The population growth in the last decade was around 1.3m and we managed to house these people with an increase of 151k housing units, the projected housing inventory by 2018 is around 200k (units under construction + unsold units), this means that we can already adequately provide housing for another 1.3m people with that inventory. The problem is the population isn't going to grow by 1.3m by 2018, so there is certainly going to be a glut, and it might take another decade to clear it again.

 

[hindsight]

if you read this article, you will realise that hdb has built too many flats from 2002 to 2006,

http://www.mnd.gov.sg/reflections_housing/article1.htm

Mostly due to the speculative frenzy in the late 90s, at one point HDB was launching 80k units a year.

 

[zeroX26]

can you see whole block of completed flats that are built that are completely empty these days?

it was like that more than 10 years ago.

long ago, hdb just build flats and people queue to buy. then they overbuilt. many empty flats all over non-mature estates. they start the bto system which starts to build only when the flats are sold. then they underbuilt and switch back to the old method again.

maybe you are too young to see this period.

Gosh... finally somebody remembered this "forgotten" piece of history. Yes that was during the early 2000s, especially the Punggol 21 project. Places like Rivervale had loads of empty flats where you had plenty of choices. A few of my peers / mentors bought their flats then. Ironically these earlier punggol flats are way better than the present one

 

[Mr.Canberra]

Gosh... finally somebody remembered this "forgotten" piece of history. Yes that was during the early 2000s, especially the Punggol 21 project. Places like Rivervale had loads of empty flats where you had plenty of choices. A few of my peers / mentors bought their flats then. Ironically these earlier punggol flats are way better than the present one

Oh Punggol 21 I remember. Those days when you told people you stay at Punggol I think you'll get a look such as . Super bird no lay egg place! Haha.

As I've said before how can there be "oversupply"? This matter is about politics due to immigration policy. Yes the statistics are true there's an oversupply glut but this is due to the cooling measures. Some Singaporeans are not just contented with just one property these days. Now it's getting more and more common to hear Singaporeans owning multiple properties. Do not underestimate the pockets of Singaporeans.

Since some like to quote statistics so I give you statistics. Look at the figures of funds being outflowed to overseas property investments especially Malaysia. Even the government (latest being MAS) from time to time remind Singaporeans to be vigilant when investing in overseas property. Ecohouse, North Dakota. Rings a bell?

Remove the ABSD with immediate effect and let's see how fast the inventory gets cleared with the pent up demand. I really worry for this day because all the cooling measures and price stabilisation will be undone with such a fatal move.

There is no place in this world where the real estate is as stable as Singapore's even though ROI is lower. But the chances of your investment plummeting -60 to 80% over 6 months is very unlikely if compared to some overseas real estate. Plus the chances of recovery is in no sight at the end of the tunnel. Look at bankrupt Europe especially Greece and Spain.

If the price of Singapore property is within budget and affordable I don't think most middle class Singaporeans who aspire to own multiple properties will put their hard earned money so far away in a foreign land where they cannot manage it personally.

 

[henrylbh]

hdb had overbuilt before. thousands of empty flats were left standing. to prevent this problem, they switch to the bto scheme, which is what we see today.

Overbuilt? Reduce the price and all will be sold just like Giant selling its puff at half price after certain time and they still make a profit.

 

[dork32]

Overbuilt? Reduce the price and all will be sold just like Giant selling its puff at half price after certain time and they still make a profit.

reduce price and garmen make less money. give more pr and citizenship. get more foreigner to come in and they managed to sell at at higher price.

 

[kandinsky]

Saw this article, I'm wondering if those who recently just bought a new HDB can update roughly how much it cost and which area you guys bought.

You can use this to check...

This e-service enables you to check past 2-year resale transacted prices. The objective is to assist potential resale flat buyers and sellers in making informed decisions, taking into account the prevailing trends in the HDB resale market.

http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp

 

[antonpoh]

hdb had overbuilt before. thousands of empty flats were left standing. to prevent this problem, they switch to the bto scheme, which is what we see today.

Actually all BTO are oversubscribed. Only unsold ones are EC (20-30% sold) in the middle of nowhere. Should just allow 3rd timer to apply since no one wants it.

 

[hindsight]

Oh Punggol 21 I remember. Those days when you told people you stay at Punggol I think you'll get a look such as . Super bird no lay egg place! Haha.

As I've said before how can there be "oversupply"? This matter is about politics due to immigration policy. Yes the statistics are true there's an oversupply glut but this is due to the cooling measures. Some Singaporeans are not just contented with just one property these days. Now it's getting more and more common to hear Singaporeans owning multiple properties. Do not underestimate the pockets of Singaporeans.

Since some like to quote statistics so I give you statistics. Look at the figures of funds being outflowed to overseas property investments especially Malaysia. Even the government (latest being MAS) from time to time remind Singaporeans to be vigilant when investing in overseas property. Ecohouse, North Dakota. Rings a bell?

Remove the ABSD with immediate effect and let's see how fast the inventory gets cleared with the pent up demand. I really worry for this day because all the cooling measures and price stabilisation will be undone with such a fatal move.

There is no place in this world where the real estate is as stable as Singapore's even though ROI is lower. But the chances of your investment plummeting -60 to 80% over 6 months is very unlikely if compared to some overseas real estate. Plus the chances of recovery is in no sight at the end of the tunnel. Look at bankrupt Europe especially Greece and Spain.

If the price of Singapore property is within budget and affordable I don't think most middle class Singaporeans who aspire to own multiple properties will put their hard earned money so far away in a foreign land where they cannot manage it personally.

How can there be oversupply? Not even when the vacancy rate is approaching 8% and projected to hit 10% in 2 years time?

Like I said, the pent up demand is from speculators who have this misconception that there is insufficient housing to house the growing population, the real numbers tell a different story, the truth is there is already sufficient inventory to house another 1.3m people by 2018.

You are confusing demand from people who need housing and demand from speculators who think they can profit from front running these people who need housing. This is similar to people punting on penny stocks, bidding ever higher thinking that there will be a buy out, RTO or some kind of deal down the road. The cooling measures are there to stop these people from committing financial suicide, already vacancy rates are surging, what are these people going to do when their 2nd or even 3rd properties cannot be tenanted out? Count on the govt to bail them out?

These speculators moved overseas because the govt has effectively curbed property speculation here, a lot of them moved to Iskandar/Johor now look at what happened to that market, the impending glut is going to overwhelm these people, they will be wiped out. Do not confuse people with money and people with brains.

There won't be a crash in the local property market but a decline is all but certain, the govt did step in to rein in speculation but they only succeeded in late 2013, after tens of thousands of properties had been launched and sold, the seeds of a downturn were sown 3-4 years ago.