New VERS scheme for aging HDB

[Wind30]

I kind of expected this to come from him.... That is sad... Lol

 

 

 

Keeps claiming appreciating asset.... Election vote bait..... When asked for details, don't even know how to answer how VERS value is going to be derived.

 

I call out a useless broken record when I see one.

I always respected kbw. He did a good job as housing minister. Bad job as transport minister.

 

My respect comes from the way he lives his life, stay in small house, and his willingness to take up shitty portfolios none of our future 4g leaders even dare to touch.

 

Which is kind of sad.... how can u be a leader if u don’t take up the hardest portfolios

[Fcw75]

How do you know he’s even willing?

[Wt_know]

sounds very good

pay toyota (public housing) get lexus (private housing)

the only caveat is 5yrs MOP and held 10yrs for privatisation ... acceptable la

huat ah!

 

Although I owned an EC before, I have never been sure about it.

 

But based on what I read about EC scheme, the 99yr EC land is being released for bid by the government with some caveats attached such as only sell to Singaporeans at launch and for resale in the 5-10th years only Sg/SPR can buy and beyond 10yrs it becomes fully private with 89yrs lease left.

 

Thus the starting bid price is always lower than fully private 99yr old condo sites, which translate to lower launch price.

 

My understanding is that it  SHOULD be strata titled. I remembered reading some MC AGM reports with reference to strata-title while I own the EC under MOP of 5 years.

 

Edited September 3, 2018 by Wt_know

[Vratenza]

Must ask those still holding onto ECs if it is really huat. Think @Kusje is a current owner.

 

Last time the launch price for EC vs private margin quite big. So there is money to be made when time to sell and timing of cycle is right.

 

These days the launch EC PSF will not lose to those private 99yr.

 

I got my pasir ris EC at 400++K for a 3 bedder. These days where to find such a new launch EC price?

 

 

sounds very good

pay toyota (public housing) get lexus (private housing)

the only caveat is 5yrs MOP and held 10yrs for privatisation ... acceptable la

huat ah!

 

[Kusje]

Must ask those still holding onto ECs if it is really huat. Think @Kusje is a current owner.

 

Last time the launch price for EC vs private margin quite big. So there is money to be made when time to sell and timing of cycle is right.

 

These days the launch EC PSF will not lose to those private 99yr.

 

I got my pasir ris EC at 400++K for a 3 bedder. These days where to find such a new launch EC price?

 

I bought in 2013 leh     

 

PSF about $700-850 already in shitty woodlands. 

 

Huat or not, I also won't know until MOP comes but the EC turned condo right beside mine is only a little more expensive on psf basis. It's older tho. Wondering if the new MRT and hospital (both about 15 mins walk) will boost prices or not.

 

How? Think any docs will buy into it?

[Wt_know]

wah ... woodlands ... no $1500psf no sell ... sure huat until siao!

 

I bought in 2013 leh     

 

PSF about $700-850 already in shitty woodlands.

 

Edited September 3, 2018 by Wt_know

[Kusje]

wah ... woodlands ... no $1500psf no sell ... sure huat until siao!

 

That's a marketing brochure from one of the neighboring ECs la.

 

1500psf? Waiting for it.

[inlinesix]

My block only qualifies in another 50 yrs. By that time, I tong tong chiang liao.

[Victor68]

If your HDB price keep going up, who is paying har? Foreigners doing investment on our HDB?

 

Doing biz with your next generations har. Why don't spend energy and time on how to make money from outside instead of squeezing from your own blood.

[Wt_know]

buy a 50 years old hdb can make how much ar?

hearsay, even 50 years the hdb still can continue APPRECIATE leh

dont play play ... huat ah!

 

If your HDB price keep going up, who is paying har? Foreigners doing investment on our HDB?

 

Doing biz with your next generations har. Why don't spend energy and time on how to make money from outside instead of squeezing from your own blood.

[Vratenza]

I have always say it is a ponzi scheme but in actual fact it needs MLM type of  operations to keep it going. 

 

Top tier = ruling government. State land is free. 

Next tier = HDB

3rd tier = BTO owners

4th tier = 1st resale owners

5th tier = 2nd resale owners

6th tier = so on and so forth

 

You need more and more lower tiers resale buyers who believe in the fairy tale that their purchase will always grow in value to keep the MLM structure up. 

 

If your HDB price keep going up, who is paying har? Foreigners doing investment on our HDB?

Doing biz with your next generations har. Why don't spend energy and time on how to make money from outside instead of squeezing from your own blood.

 

[Yoongf]

Buy 70yr old flat.. no loan no use CPF... valuation shd be ard $50k.

After HIP2, valuation hit $70k. 40% capital appreciation. He’s not wrong leh

[Wt_know]

40% upside ... walao eh ... where to find this kind of ROI ...

that’s why everyone cheong property ...

 

Buy 70yr old flat.. no loan no use CPF... valuation shd be ard $50k.

After HIP2, valuation hit $70k. 40% capital appreciation. He’s not wrong leh

[Playtime]

Buy 70yr old flat.. no loan no use CPF... valuation shd be ard $50k.

After HIP2, valuation hit $70k. 40% capital appreciation. He’s not wrong leh

 

the seller who bough it for 400k will take 350k loss?

everybody will be dumping the flat early... KBW is being simplistic.

[Showster]

HIP actually is not very fun also. Whole block vibrating with noise during working hours plus the dust.

 

But it’s short term pain longer term gain, good to have.

 

We can only take readings again when the current 50 year old flats reach 70 in 20 years time. By cash and no loan allowed, what would be realistic values?

[Enye]

I bought in 2013 leh

 

PSF about $700-850 already in shitty woodlands.

 

Huat or not, I also won't know until MOP comes but the EC turned condo right beside mine is only a little more expensive on psf basis. It's older tho. Wondering if the new MRT and hospital (both about 15 mins walk) will boost prices or not.

 

How? Think any docs will buy into it?

wah sibeh high flyer

 

fresh grad already can buy ec with wife

 

after privatise even more huat!

 

 

[Pocy]

Fewer young gen want to live in 60 - 70 yo flats by then.

Neither the dusty, dirty and noisy HIP2 nor moving home after VERS good for retirement gen. I think retirement gen prefer quite, clean and peaceful retirement homes.

[ALTK]

What HIP2...what VERS...? i oso can tell u...10yrs later I let u be the PM...20yrs later let u be the President...! U ask me how? Wait till then...i’ll tell u. Ya...no one in the world could plan for u 20yrs in advance...only me! Haha...