What is the actual cost of a HDB flat?

[melvin]

The price of HDB is unlikely to be high anymore unless runaway inflation comes in. If I remember correctly, one of the mission of HDB is to provide affordable housing to every individual in Singapore. Hence, in line with their mission, they have to come up with policies to control the price and I must say they are damn bloody successful sia. Look at the price I got my flat and the price I sell:sweat: The price I sell is indicative of how successful their policy is.

I am not very gd with figures but my gut feelings is that HDB flats are still in demand. It is just that they are trying to clear their excess stocks:bsmilie: . Plus, Condos has become more affordable due to various policies.

Thats why i always advice first time buyers go get a flat direct from HDB if not eligible then go to resale!!!

 

[clarinet]

staircase in ur flat?

yea.. a 300sq meter flat..

 

[melvin]

Expats are suffering more. I just heard that for lift upgrading, Singaporeans will pay abt 1000+ to 3000+. Expat has to pay 20+ K. See the diff.

Err... I think expats not eligible to apply for HDB flats only Singapore Citizen, SPR, or their other spouse is a citizen!

Ya FYI for upgrading SPR pays 6x more then SC.

 

[melvin]

yea.. a 300sq meter flat..

Err... i dun think there is a flat 300sqm unless its a 3sty terrace house!;p

 

[melvin]

here's my thot.

you buy a flat. you stayed. when u retire you need to sell back the flat in order to get some money out due to cpf capping($120K in a few years time). many years down the road, cpf capping will probably go up again(the last hike a few years ago at $80k). expect to hike more than $200k by the time u retire......many many years down the road.

so by calculation,....... in the end of the day,....... you don't have any money. probably no money to stay in old folks home. so how?

Dun worry dats why they come out wif reverse mortgage by some of the banks where they pay u to stay in ur flat.

 

[clarinet]

Err... i dun think there is a flat 300sqm unless its a 3sty terrace house!;p

nope.. that is the built in area... had not consider the built up area... :sticktong

 

[melvin]

PP == majority are foreign construction workers

minority are Singaporeans and PR, so how :dunno:

I dun think Singapore is dat desperate to accept foreign construction workers to be SPR.

In fact there are terms n condition in which most construction workers fail to meet! Unless they r engineers mite have chance!

 

[melvin]

nope.. that is the built in area... had not consider the built up area... :sticktong

If it is 300sqm is bulit in n no consider bulit up = to bunglow.

If nt then wat i can think of is dat u all gt 2 HDB EM combine in to 1 unit dat eplain the 300sqm if your figgure is rite!:bsmilie:

 

[clarinet]

If it is 300sqm is bulit in n no consider bulit up = to bunglow.

If nt then wat i can think of is dat u all gt 2 HDB EM combine in to 1 unit dat eplain the 300sqm if your figgure is rite!:bsmilie:

hahaha.. seldom people do that...

anyway.. the place belong to my dad.. not me.. :cry:

/me run and hid ... these days too many criticism liao

 

[Ryonpepper]

Nowadays also nt easy to gt HDB LOAN!!!:sweat:
From 1 jan 2007 onwards (like wif immediate effect) applying of HDB loan would be the same procedure as applying for bank loan.

HDB will require all potential flat buyers and transferees who wish to get an HDB concessionary loan to first obtain an HDB Loan Eligibility (HLE) letter. This HLE letter must be obtained before committing to the purchase or transfer of a flat. This will provide prior information on your loan eligibility quantum and monthly instalment to ensure you are able to pay for your home and service the loan without overstretching your finances.


The HDB Loan Eligibility Letter (HLE) will give an indication of the loan you are eligible for but the final or NET loan that is given will depend on HDB's prevailing conditions governing the granting of loans such as the loan ceiling of 90% of selling price or value of the flat, and the amount of CPF in your ordinary account.


HDB will work out the financial plan for your net loan at the point of (a) selecting a new flat for purchase of a new flat, (b) first appointment for purchase of a resale flat or (c) processing your application for transfer of an existing flat. You can also use the online services at Sales Financial Plan and Resale Financial Plan to do an estimate of the final or NET loan amount once you have determined your loan eligibility.

Yah...heard that news.... :bigeyes:
What an irony from the garment... a few months back, they're trying to encourage more ppl to own HDB instead of renting(for those lower income folks).... Then now? :dunno:

Anyway, a country's success is basically depends on it's people, work work work, buy buy buy, grow population to continue work work work and buy buy buy, spent spent spent........Just like in the movie "The Matrix". People are the energy source!!

 

[melvin]

Well, if a unit sell for $500K and the particular block is having 24 stories with 4 units each level. Simple calculations : $500K x 4 x 24 = $48 million for a block of flat which only last for 99 years?? vs the actual materail cost...wow big profit man... .. and how much land area can a point block occupy?

So you know who is the richest developer here?
Check it out our neighbouring country with S$500K, you living in big big landed property..

Not to foget, lets say for a average salary man to buy a 5-rm flat using 25 years loan from your CPF...do you still get to see $$ in you CPF when you retire?

HDB dun sell flat at $50k u will never find one at dat price even the Pinical at Duxton the recent DBSS by private developer oso dun have so high!!!
Onli in the resale market u find such price, like during the peak owners in bishan r selling 5rm at $600k n above some go as hi as $700k for EA flat! So it is the owners r selling for dat kind of price not HDB! Owners r the one earning$$$$$$ not HDB;p

 

[melnjes]

:sweatsm:

Another school of thought

1) Using jap as an example. You may like to know the difference between the pay structure of an ordinary jap engineer in S'pore & in Japan ? Cost of housing isn't the reason why they :heart: living in S'pore. I knowof one Jap Semi-con company provides free housing for their Jap expats working here, best part is the S'pore branch is footing the bills. (Condos in tanglin area)
I ever conversed with the jap engineers b4, they complained working environment is more stressful, pay is lower and lesser benefits than in S'pore.

2) Are u refering to resale prices ? Anyway, economic crisis caused the prices to purged in 1997...

Ya, in Japan, the housing loan needs to be paid off across generations in a family. i.e. your parents take the loan, you end up taking over the loan, because one generation cannot pay it off.

Singapore implemented anti-property speculation measures a few years before the 97 crisis. I still remember the days when houses can be bought at launch and sold at huge profits a few days later. While we definitely did not come out unscathed, we fared better than most other countries where the property bubble was allowed to grow until it burst. Hong Kong and Thailand comes to mind. I remember visiting my relative's apartment in HK, probably 60-year leasehold, smaller than 3-room, and bought for an equivalent of S$1m. That's madness.

 

[melvin]

That's why you need financial planning. Before you buy a HDB flat, make sure you move everything, except for the minimum sum required for purchase, out from your CPF account to approved CPF investment funds. That way, you will not empty your CPF savings onto something that will not give you any returns. Investment funds will payback more in the long run.

I did just that and over a period of 4 years, the investment funds have returned approximately 13% - 14% per year. Compare this to CPF's returns of 2.5% per year. :cry:

_

Make sure u r employed cos: no employment = no loan = no house!;p

 

[melvin]

hahaha.. seldom people do that...

anyway.. the place belong to my dad.. not me.. :cry:

/me run and hid ... these days too many criticism liao

 

[clarinet]

ya.. cos i sleep under a tree in the garden..

 

[CreaXion]

HDB dun sell flat at $50k u will never find one at dat price even the Pinical at Duxton the recent DBSS by private developer oso dun have so high!!!
Onli in the resale market u find such price, like during the peak owners in bishan r selling 5rm at $600k n above some go as hi as $700k for EA flat! So it is the owners r selling for dat kind of price not HDB! Owners r the one earning$$$$$$ not HDB;p

My friend kena loh. 600K for E Masionette at Bishan. Now die die must jia ga gi

 

[melvin]

ya.. cos i sleep under a tree in the garden..

:bigeyes: How nice! Wish can be like u but i only got to sleep under the rose in my garden!

 

[melvin]

My friend kena loh. 600K for E Masionette at Bishan. Now die die must jia ga gi

Ya lor ... dats wat happen when you buy at the peak period! Anyway bishan is nt a bad place for retirement! :bsmilie:

 

[reachme2003]

i believe that mbt is restrained by the osa from revealing too much data about costs of building hdb flats.

This topics has been brought up by so many ppl, but MBT is still keeping quiet on this.
Haiz...... 66.6% voted for them and they keep quiet.....that's what Sinkies opted for! Cannot blame anyone.
If blame or complain hor, some "elite" might again make noise.....hope that the Wee Shu Min is not reading this thread!

 

[VR Man]

My friend kena loh. 600K for E Masionette at Bishan. Now die die must jia ga gi

Wah Lau! Ang Moh got 6 million dollar man, Singapore got 600K man!

I feel for your friend :sweat:

His twin hamster wheel is very expensive and must run very fast everyday siah :sweat: