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$160,000 COV for a 3 decade old Pasir Ris 5 room resale HDB.


noobcarbuyer
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I’m not complaining 

 

just sold one of mine at a record price … good pls keep pumping $$$

 

overseas buyer 

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2 minutes ago, RadX said:

I’m not complaining 

 

just sold one of mine at a record price … good pls keep pumping $$$

 

overseas buyer 

Huat ah!

If you don't mind sharing, which country is the overseas buyer from?

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at 66

if need to downgrade

can buy 2 room BTO with 30 years lease from government if you are eligible

less than 100k.

what are the odds you live over 96 ?

 

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Anyway he is 66, will banks still lend him money to buy house? If banks not willing to lend, then the whole amount will be cash right?

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Turbocharged
7 hours ago, 13177 said:

No no, i not refer to the rubbish chute door for you to throw your rubbish. It is an additional rubbish door on the wall only for the unit on the top floor. I think that door is to access inside the chute in case the chute has problem?

I see. I havent seen this door before in friends' top floor flats.Maybe for chute maintenance.

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Turbocharged
9 hours ago, noobcarbuyer said:

I was under the impression that the resale HDB flats in Sengkang and Punggol flats are selling very well? 

Those newer 5 room HDB near Punggol MRT and Sengkang MRT are going for more than $700,000!

In 2008, you could get a decent resale Condo at Bishan for that price!

https://www.businesstimes.com.sg/hub-projects/property-2021-april-issue/are-rising-hdb-prices-the-new-normal

https://sg.news.yahoo.com/punggol-sengkang-home-most-hdb-220000733.html

poor millennials. 

20 years ago graduate starting pay 2.7k.

Today graduate starting pay 2.7k. How to buy resale? 

Must give kids condo as wedding present.

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Supersonic
1 hour ago, Karoon said:

I see. I havent seen this door before in friends' top floor flats.Maybe for chute maintenance.

Your friend top floor unit dont have this door? I thought all top floor unit have? Lol. Cause i saw it in two different top floor unit which have it lo.

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Supersonic
1 hour ago, Karoon said:

poor millennials. 

20 years ago graduate starting pay 2.7k.

Today graduate starting pay 2.7k. How to buy resale? 

Must give kids condo as wedding present.

You sure today graduate starting pay is 2.7k? 😅 Which industrial/job ah?

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15 hours ago, Ct3833 said:

He sold his private property, being a retiree, he has probably bought his private property long ago meaning has made a fortune, so the sum he paid for is not significant  by his wealth. End of the day, happy 就好。

     Exactly he is already 66yo, besides he likes the property so much and he can't afford to lose this unit which were perched high top floor, once we reached that age, we care less what other think, just buy and be happy with it, i doubt he likes publicity neither he likes to be teased as being a carrot, at least he is not a cucumber. [bounce2]

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3 hours ago, Weez911 said:

Anyway he is 66, will banks still lend him money to buy house? If banks not willing to lend, then the whole amount will be cash right?

   likely full cash, he is someone here, no money no talk [laugh]

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11 hours ago, Daniu82 said:

Wonder how special is this HDB unit to deserve a $160k COV. This uncle really too rich until no place to spend ah? 

     Uncle spent on property, not kenna conned by women, he can make back the money when he sell  . . .  & he will laugh all the way to IMF [jawdrop]

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6 hours ago, Meanmachine said:

     Exactly he is already 66yo, besides he likes the property so much and he can't afford to lose this unit which were perched high top floor, once we reached that age, we care less what other think, just buy and be happy with it, i doubt he likes publicity neither he likes to be teased as being a carrot, at least he is not a cucumber. [bounce2]

We aren't called "controlled media" for no reason.

Mark my words. The stage is set for the announcement of cooling measures if not this week then next week.

Two new BTO coming up. One in bukit meraj (telok blangah) another one Queenstown (beside Queensway shopping centre).👏

There is another piece of news I read yesterday. Something like "mature vs non mature"

https://dollarsandsense.sg/non-mature-vs-mature-hdb-estates/

Haha....

 

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Cooling measures only make it that much harder to buy. Now already very hard to buy.

Who really benefits if it is so hard to buy? 

The answer is: landlords!

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12 hours ago, Weez911 said:

Anyway he is 66, will banks still lend him money to buy house? If banks not willing to lend, then the whole amount will be cash right?

Yeah and next time he sell house also need find full cash buyer too due to leasehold left

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21 hours ago, noobcarbuyer said:

I was under the impression that the resale HDB flats in Sengkang and Punggol flats are selling very well? 

Those newer 5 room HDB near Punggol MRT and Sengkang MRT are going for more than $700,000!

In 2008, you could get a decent resale Condo at Bishan for that price!

https://www.businesstimes.com.sg/hub-projects/property-2021-april-issue/are-rising-hdb-prices-the-new-normal

https://sg.news.yahoo.com/punggol-sengkang-home-most-hdb-220000733.html

Thats how super inflated the housing price in sg

 

need more cooling measure. Should slap higher absd for foreigners. Seems like 18% doesnt deter them

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(edited)
2 hours ago, Kopites said:

We aren't called "controlled media" for no reason.

Mark my words. The stage is set for the announcement of cooling measures if not this week then next week.

Two new BTO coming up. One in bukit meraj (telok blangah) another one Queenstown (beside Queensway shopping centre).👏

There is another piece of news I read yesterday. Something like "mature vs non mature"

https://dollarsandsense.sg/non-mature-vs-mature-hdb-estates/

Haha....

 

About time cooling measures for the private / condominium property market are announced.

Especially so since the price-income ratio for new launch condominium has widened, with higher new launch condominium prices and the first decline in household income seen in a decade.  

Plus mortage rates are starting to inch up again.

https://www.businesstimes.com.sg/real-estate/in-a-covid-year-new-condos-price-income-ratio-widens

Since those who can afford to buy a new Condominium now must be doing pretty well (income wise), I guess more cooling measures targeting those new launch condominium won't hurt the buyers' bottom line as much. Anyway, more taxes will help the government cover the deficit from last year's Covid budget. So it's a win-win for everyone. 

As for HDB resale, my gut feel is that after close to a decade of stagnant prices, the government will be letting this hurrah run its course for quite a while longer. All the better to please the electorate. And help those who have been suffering during the recession to cash out and downgrade. 

Edited by noobcarbuyer
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Supersonic
2 hours ago, Kopites said:

We aren't called "controlled media" for no reason.

Mark my words. The stage is set for the announcement of cooling measures if not this week then next week.

Two new BTO coming up. One in bukit meraj (telok blangah) another one Queenstown (beside Queensway shopping centre).👏

There is another piece of news I read yesterday. Something like "mature vs non mature"

https://dollarsandsense.sg/non-mature-vs-mature-hdb-estates/

Haha....

 

That piece of land beside Queensway shopping centre finally develop? Lol.

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