March BTO 2012

[ketua]

Yeah, I agree. But that's in the past...and while we youngsters are complaining about high prices today (frankly, I do feel indignant at times), arguably our parents are the ones who have reaped benefits from the general appreciation of property prices throughout the years.

I guess at the end of the day, HDB should provide more grants and subsidies for the lower income (and possibly, first timers) so those who really need help will get the necessary assistance. But that will necessarily mean that the middle/high class (or the second timers) will be saddled with supporting the lower income (or first timers). It's almost impossible to make everybody happy at the same time. It's a zero sum game after all.

Since you say it's in the past, then how about looking forward to the FUTURE?

A
Sg birth rate is declining (1.2). Housing is only sustained by massing importing FT.

What if importing stops (when reached target 7million)?
What if something bad happened and they all pack and go?

B
What about our children and their children? How are they going to afford the expedited rate of public housing if it keeps going up? Their earning power is going in parallel?

C
Resale unit, as it DEPRECIATES, it worth even more. Ridiculously much more.
What if it approaches 99 years to worth ZERO? Which LAST buyer is going to hold the hot potatoes?
Yes, there are scheme to relocate resident and then rebuild, blah. But can the same be done for ALL the aging flats?

D
Existing buyers, 30 years into the future to pay off the loan, what if EITHER one of the husband and wife got retrenched, or ill, or can't work for whatever reasons?

 

[Milo-Dino]

Not sure if I've shared in this thread.

The overwhelming releases of BTO, plus escalating landsales for private housings, building / construction industries will certainly contenting for resources:
Not just raw materials, but labourers, managements staff, machinery, etc, etc...Even HDB staff also may have a bottle neck.


And so, what if your BTO is delayed? Due to the various contentions?
Last time my Punggol unit delayed 1 year. HDB compensated me with a 100year lease (instead of usual 99 year).

Song boh?

I think either I misunderstood chocolatemelt's point or you misunderstood mine...

I presumed chocolatemelt meant that we have to wait 4 years after all these BTOs are built to be able to see the cooling effect in prices.

Thus, I'm not willing to wait 4years for the price to sink and another 4 years for a new flat to be built. If prices do sink by then, I might consider buying a private if it becomes more affordable.

Hence, I'm also abit confused on why you mentioned about your flat delay and asked if i'm "song boh"

 

[rojak-]

Since Nth year ago, HDB already prices their new flat based on market rate instead of cost-plus.

Of cos the ******** wei is that to keep market price stable, difficult to determine land cost, etc.

The fact is, to squeeze people to the max 'affordable' level.

Worse still, implemented Valuation + COV and it spiral the resales prices up. Then tag new prices to resales. And repeat.

Then form a vicious cycle.

sigh. what to do

 

[ketua]

I think either I misunderstood chocolatemelt's point or you misunderstood mine...

I presumed chocolatemelt meant that we have to wait 4 years after all these BTOs are built to be able to see the cooling effect in prices.

Thus, I'm not willing to wait 4years for the price to sink and another 4 years for a new flat to be built. If prices do sink by then, I might consider buying a private if it becomes more affordable.

Hence, I'm also abit confused on why you mentioned about your flat delay and asked if i'm "song boh"

I understood the point. I'm just expanding on the part about building bottleneck.

"Song boh?" is just a commonly used expression in EDMW.

 

[ketua]

sigh. what to do

What to do huh? 2016!

We missed the May 2011.

 

[acetylcholine]

Since you say it's in the past, then how about looking forward to the FUTURE?

A
Sg birth rate is declining (1.2). Housing is only sustained by massing importing FT.

What if importing stops (when reached target 7million)?
What if something bad happened and they all pack and go?

B
What about our children and their children? How are they going to afford the expedited rate of public housing if it keeps going up? Their earning power is going in parallel?

C
Resale unit, as it DEPRECIATES, it worth even more. Ridiculously much more.
What if it approaches 99 years to worth ZERO? Which LAST buyer is going to hold the hot potatoes?
Yes, there are scheme to relocate resident and then rebuild, blah. But can the same be done for ALL the aging flats?

A: If there are less foreigners and the demand drops, the market will simply correct itself. HDB can't possibly sell BTOs at high prices if the general property market falls. Personally, I think the ABSD is a step in the right direction (should have been implemented earlier though) and more can be done to cool the market. I don't think we should head down the route of HK and the only way out is for the Government to intervene (one way is of course to sell BTOs cheaper so prices for resale will fall).

B: As above, if demand drops, market will correct itself. If you are talking about a wider sociological concern of the income gap widening, maybe we should head to the Current Affairs Lounger to continue the discussion. Too out of topic already.

C: Caveat emptor applies. If a person knowingly buys a resale flat at such excessive prices, I guess not much can be done to save that person. Sellers can jack up their prices and impose excessive COV because there are willing buyers out there to get chopped. For instance, the buyers who are paying $8xx,000 for HDB flats in Toa Payoh - if they think that is a reasonable price, so be it. I personally think there is not much investment potential (especially when the PSF price is creeping close to private properties).

 

[chocolatemelt]

what i meant was 4 years before we can move in

 

[birmingham123]

Is the central location good?

No doubt it is at tanjong pagar, but there seems to be no schools around... If got kids, and both parents working then how?

 

[FandiAhmad17]

Guys, I just applied for Clementi Ridges.
There's a total of 8 steps and the $10 payment is at step 7.
I managed to key in my credit card details and it showed me that the transaction for the $10 was complete.

It then brought me back to a blank HDB website and nothing liao.
There should be a confirmation page with acknowledgement number right?

 

[wai]

buy flat liao, no money must eat cup noodle

2 persons share 1 cup noodle some more....

 

[LiangZzZ]

Guys, I just applied for Clementi Ridges.
There's a total of 8 steps and the $10 payment is at step 7.
I managed to key in my credit card details and it showed me that the transaction for the $10 was complete.

It then brought me back to a blank HDB website and nothing liao.
There should be a confirmation page with acknowledgement number right?

login to MyHDBPage with your Singpass and check if your application is submitted. cheers

 

[3G SAINT]

People buy HDB because no choice. Public housing supposed to be cheapest.

Affordability is assumed both working for 30years.
In the past just 1 working can pay off in 5-15years.

In this case of 'strong' commitment, of cos everyone wants to get a good unit. Who wants to be at 2nd floor smelling the
rubbish chute facing MRT track with such a '2 person 30 years commitment'?

Do you believe got many foreigners became citizen
apply BTO..?

If you got went to see show flat then you will know
what I mean...juz they do not release the data how many foreigners convert...pple think they dnt mind pay 400k-500k for HDB juz they got job if they got retrenchment at 40s plus..then problem came in...once you no job you still need pay the flat...Maybe if one day market collapse see those pple still trust them....hahaha..

 

[Kevin10]

Wow wow wow.. Finally price released and prices are pegged to resale flat.. Thats call BTO ?? hmmmm...Power HDB! hahahaa...

 

[FandiAhmad17]

login to MyHDBPage with your Singpass and check if your application is submitted. cheers

Thanks for the info!
It shows my application there.

So even if I didnt get to step 8 which is the confirmation page, my application is still being registered?

 

[Avg_Joe]

Do you believe got many foreigners became citizen apply
BTO..?

If you got went to see show flat then you will know what I
mean...juz they do not release the data how many foreigners convert...pple think they dnt mind pay 400k-500k for HDB juz they got job if they got retrenchment at 40s plus..then problem came in...once you no job you still need pay the flat...Maybe if one day market collapse see those pple still trust them....hahaha..

The cold comfort is since so many people will be going for it, and if the market really do crash, there will be so many people for company too! ... new citizen or not.

Just make sure those who are responsible for this mess in the first place will go down with us too.

 

[3G SAINT]

Thanks for the info!
It shows my application there.

So even if I didnt get to step 8 which is the confirmation page, my application is still being registered?

No,you did not complete yet...need to pay $10 admin fee then count...

 

[rojak-]

Guys, I just applied for Clementi Ridges.
There's a total of 8 steps and the $10 payment is at step 7.
I managed to key in my credit card details and it showed me that the transaction for the $10 was complete.

It then brought me back to a blank HDB website and nothing liao.
There should be a confirmation page with acknowledgement number right?

yup, should have a number. you can log in HDB page and check. that happened to me before... but was registered.

 

[vspecll_gtr]

More people apply BTO than SBF for day #1!

BTO 4153 1013
SBF 3825 697

Hottest BTO:
Bukit Batok 4-room 517 173
Clementi 4-room 312 140
Bedok 4-room 236 102

May I kindly know where did you get the figures from?

Thanks!

 

[3G SAINT]

yup, should have a number. you can log in HDB page and check. that happened to me before... but was registered.

Didn't read his page properly once payment is made is register...

 

[3G SAINT]

May I kindly know where did you get the figures from?

Thanks!

If you go to apply online you can view sales of application received...