H*D*B being fair?

[scramblur11]

Dear all,

Ever since I am married, we have been trying to get a HDB like most of the first timers out here. Every BTO project being fast selected and every unsuccessful bidding comes a chance more in our next BTO bidding. Now, one day, we got fed up, approached MP, wrote letter, then the 3rd day comes HDB's respond.

The lady told us that HDB now offered us Punggol Acadia and Saphhire but only 2nd or 3rd floor, with no OCS options. And then best part is subjected to re-pricing, which is higher than the original advertised price. Then now, one week later, the lady came back with a call, asked whether my wife and me wanna take up the estates. We replied no as the floors are too low and the price is a killer - even the lady doesnt how how many percent the re-pricing.

Now for the climax, the lady told me, if we rejected now - next time when we approach MP on future BTO appeals, HDB will ignore our case as we rejected HDB's offer - flat with re-pricing. Dear all, is this fair?

I meant the resales out there is sky high now and even new flats you wanna sell me at re-pricing, which is confirm high. And talking about helping first timer, this fair? Also to mention, my wife is a PR, and our flat prices will be S$10,000 more due to the new PR rule, according to Mah, it is to encourage PRs to apply for citizenship. Phew...

:dunno:

May you should just check how much is the new price then decide. but in the end, you most likely still will reject it as it is low floors.

 

[zero o]

Luckily I've already got my BTO years ago.... When I got my unit at Woodlands. Most if not all of my friends kept telling me how Ulu that place is.... I can't afford AMK or Bishan.... so, still have to accept the offer. 12years on... no regard yet, also hard to regard when my Ulu unit is now worth 3 times the price I paid for :bsmilie:

You did the right thing ... cause in the end, a bird in hand is better than 2 in the bush.
Imagine if u have have not taken it, u will end up paying rental for these many years which can amount to a hefty sum, plus the price of new flats are now a few times more than what it was a few years ago. And now u have the option to cash out and with the money, try and buy a flat / location of choice.

 

[stonefish35]

TS is lucky to get the reply from HDB after the MP's letter. TS should thank the MP.

As for the reply from HDB , is well, as good as a no reply. The fact that the units offered to TS are not taken up since Nov 2008 goes to show that people do not want low floor units. Those who took up usually did that because of the cheaper price.

In 2008 when HDB re-released those Duxton units , a owner had commented in the papers that the price that the buyers had to pay at that pt of time, compared to him when it was 1st released, was about 100k more. In a span of 4/5yrs.

I booked my BTO in 2008. And although my unit had yet to be built, it had appreciated about $30K, on paper. Because another BTO was released nearby and the prices are at least 30-40K more than my unit, on a same floor unit price comparison. 2 yrs, yet to be bulit public flats can appreciate by that much, its a very very scary situation. Remember we are not taking about private property, which is quite common , as flippings are rampant.

The website for HDB should be changed from www.hdb.gov.sg to www.hdb.com.sg since they seems to have lost the direction of the primary objective in providing affordable public housing to citizens to one of milking the citizens dry of their CPF $$

 

[coolsigg]

In 2008 when HDB re-released those Duxton units , a owner had commented in the papers that the price that the buyers had to pay at that pt of time, compared to him when it was 1st released, was about 100k more. In a span of 4/5yrs.

IIRC, HDB's reply is that Duxton is market priced compared to the resale prices of the surrounding flats (Everton park, Spottiswoode Park etc). That's why there is an increase. I am not surprised that Duxton's value had gone up by another 40-50k since 2008. How anyone with a combined gross income of $8k max can afford flats of $600k-700k (price of Duxton's flats) is beyond me! :dunno:

 

[stonefish35]

IIRC, HDB's reply is that Duxton is market priced compared to the resale prices of the surrounding flats (Everton park, Spottiswoode Park etc). That's why there is an increase. I am not surprised that Duxton's value had gone up by another 40-50k since 2008. How anyone with a combined gross income of $8k max can afford flats of $600k-700k (price of Duxton's flats) is beyond me! :dunno:

That's true. In this case, both party will need to work their ass off to clear the loan, not fall sick along the way and do not have any children.

 

[Royale With Cheese]

The website for HDB should be changed from www.hdb.gov.sg to www.hdb.com.sg since they seems to have lost the direction of the primary objective in providing affordable public housing to citizens to one of milking the citizens dry of their CPF $$

Heehee :bsmilie:

 

[papermelodydoll]

seriously I know of so so many couples who would LOVE to have a chance to be offered to buy even 2 or 3rd level and here you are complaining...

how many times had you balloted?
My friend tried 9times unsuccessful.
thats S$90 gone for nothing..

 

[hjebat87]

A Lo Ha Singapore ..... Hawaii of the east ...... a tent by the sea ......

 

[stonefish35]

Heehee :bsmilie:

Honestly speaking, the pioneer batch of the good people at the helm of HDB had really done a great job in housing the mass instead of housing them at the kampongs. Our parents and grandparents benefited.

But come our generation, we are seeing 900K HDB. Of course we need to factor in the shift in demograpics and economic conditions and inflation... but this is really a big headache for many young couples :sweat: . I just need affordable roof over my head. When I took my unit in 2008 , I thought I am paying too much, when I compare to my sister when she bought in 2000.

I guess,now the current flat seekers are made to pay for the mistakes / incompetencies of the HDB when they had 10,000 empty flats then, to which they lay the blame to the financial uncertainty in 2000/01 - less demand.
So now we have a even greater financial turmoil in 2008/09, so why now there are a excessive shortage instead of a surplus ? :bsmilie:

" Make me lose $$ in 2000 right.. nevermind.... I shall recover the loss from 2007 onwards. Switch costing strategy and you all shall pay....":bsmilie:

 

[stonefish35]

A Lo Ha Singapore ..... Hawaii of the east ...... a tent by the sea ......

I hope we will not follow japan's footsteps...

Young people without perm jobs, sleeping in the parks, capsule hotel, sleeping in tents...

 

[kietgnoel]

2) Repricing - This one I don't know fair or not. If what they offer you is a BTO launched a year ago and prices have increased since then I guess it is justifiable for them to offer a repriced rate. Else it won't be fair to newer BTO applicants where the price already reflect market conditions.

These "left over" flats cost a certain amount to build. Two years later, the cost of building those flats are still the same (since they have already been built) but the selling price has gone up significantly.

Is this fair? Remember that we're talking about subsidized flats here. Private housing is different.

The price of new flats are higher because the cost of building them are higher. This does not cause the cost of building the older flats to go up - they have already been built and paid for. The cost remains the same. Therefore, higher selling price = more profit.

 

[auron]

TS gone already har...

anyway like many says, TS is lucky to have hdb even bother to reply and offer and not throw a **** c: drive faq reply to TS...

well, LEEmember to vote wiseLEE in the next LEEaction...

 

[auron]

TS is lucky to get the reply from HDB after the MP's letter. TS should thank the MP.

As for the reply from HDB , is well, as good as a no reply. The fact that the units offered to TS are not taken up since Nov 2008 goes to show that people do not want low floor units. Those who took up usually did that because of the cheaper price.

In 2008 when HDB re-released those Duxton units , a owner had commented in the papers that the price that the buyers had to pay at that pt of time, compared to him when it was 1st released, was about 100k more. In a span of 4/5yrs.

I booked my BTO in 2008. And although my unit had yet to be built, it had appreciated about $30K, on paper. Because another BTO was released nearby and the prices are at least 30-40K more than my unit, on a same floor unit price comparison. 2 yrs, yet to be bulit public flats can appreciate by that much, its a very very scary situation. Remember we are not taking about private property, which is quite common , as flippings are rampant.

The website for HDB should be changed from www.hdb.gov.sg to www.hdb.com.sg since they seems to have lost the direction of the primary objective in providing affordable public housing to citizens to one of milking the citizens dry of their CPF $$

times have changed...
when u have those gahmen ppl being measure by the amount of $$$ they bring in to the ministry... which will affect their year end bonus... we get gahmen ppl trying to squeeze as much $$$ from peasants as possible...

any where, they will always be affordable cos its always max 30 year old loan... when the price goes upward, they will just extend the loan period to 35 to 40 years and sell to peasants that hdb flat is affordable...

its a whole social engineering by the p8p gahmen... enslave the peasants population and make them slog for their whole life... if peasants worry about their next meal on the table, they will not have the free time to think of any thing funny.. eg. like question the gahmen policy...

 

[Domeagain]

times have changed...
when u have those gahmen ppl being measure by the amount of $$$ they bring in to the ministry... which will affect their year end bonus... we get gahmen ppl trying to squeeze as much $$$ from peasants as possible...

any where, they will always be affordable cos its always max 30 year old loan... when the price goes upward, they will just extend the loan period to 35 to 40 years and sell to peasants that hdb flat is affordable...

its a whole social engineering by the p8p gahmen... enslave the peasants population and make them slog for their whole life... if peasants worry about their next meal on the table, they will not have the free time to think of any thing funny.. eg. like question the gahmen policy...

My dear friend...rent a whole unit or buy a house in JB ? why not ?

 

[Royale With Cheese]

Its ok, many years ahead to pay for the "subsidised housing" as now we are preferred not to have a retirement age :sweat:

 

[hanqiang1011]

I am starting this thread just to get reviews from fellow members over there.

 

[hanqiang1011]

TS is lucky to get the reply from HDB after the MP's letter. TS should thank the MP.

As for the reply from HDB , is well, as good as a no reply. The fact that the units offered to TS are not taken up since Nov 2008 goes to show that people do not want low floor units. Those who took up usually did that because of the cheaper price.

In 2008 when HDB re-released those Duxton units , a owner had commented in the papers that the price that the buyers had to pay at that pt of time, compared to him when it was 1st released, was about 100k more. In a span of 4/5yrs.

I booked my BTO in 2008. And although my unit had yet to be built, it had appreciated about $30K, on paper. Because another BTO was released nearby and the prices are at least 30-40K more than my unit, on a same floor unit price comparison. 2 yrs, yet to be bulit public flats can appreciate by that much, its a very very scary situation. Remember we are not taking about private property, which is quite common , as flippings are rampant.

The website for HDB should be changed from www.hdb.gov.sg to www.hdb.com.sg since they seems to have lost the direction of the primary objective in providing affordable public housing to citizens to one of milking the citizens dry of their CPF $$

I am not blaming my MP or whatever. In fact, I would like to thank her in person. I am just puzzled by some of our gahmen's policies.

As for fair or not fair, I think to see things from a different view, it starts to make sense. anyway, since the reviews I got so far is generally positive. I thank all for all the educating comments.

 

[hanqiang1011]

Now the thread is closed since I have generally gotten some constructive comments.

Good day to all.