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


noobcarbuyer
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38 minutes ago, Fitvip said:

Like your mil?😋

She not rich.

Only her SIL is rich.

:D

Not me lah.

My BIL.

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Supersonic
(edited)
41 minutes ago, Kxbc said:

I'll prob choose Pasir Ris over (Central) Tampines if I am still relatively mobile at 60s to 70s. Quieter and more serene. 

But when I am 80s, I might choose a busier location closer to amenities because my mobility then would surely be impacted somewhat. See doctor downstairs is good. Have food downstairs/nearby is good. No need to walk too far. Noisier should be no problem since I think I will be hard of hearing by then.

This is true. Only when young and healthy then would choose a place quiet and away from amenities, esp if have a car, stay ulu a bit no problem at all. But when old liao, would want to stay near amenities esp like clinic and hospital, also if downstairs have coffeeshop and supermarket best. So that no need to walk too far or travel far even if take taxi/bus. Cause by 70s/80s, maybe not able to drive liao.

Edited by 13177
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I really don't know what " controlled media " to snarl anther round of CM, after 8/9 CM thy still cannot control well, so i really don't know what hit em left / right/ centre. G can used whatever terms: " Mother of Strawberry Cooling Measures " if thy want, nothing can stop this COVID-19 Pandemic of property rising, last we spoke on Condom rising, now is HDB in northern part of SP with so high COV above Valuation. most retirees are happy with current HDB, this Unlce sure be some1 very happening, one of the rare kind, i must admit.

Once we say such word of Cooling Measures, something may or may not stop it from happening this weekend, sure someone touch something will eventually turn into Gold, yet in land scare Nation, that the reason/s i see it coming . .  . Kia Boi boh !! [wave]

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Majority of home owners are still ok with current mortgage loans, and with the current property rising with every street corners with new launch , G will step up the interest rates soon. Last increase were in july 2018  . . .

Next is Crypto currency and money laundering , MAS can do more to step up such platforms, with many investors being burnt lately.

I also see many F&B outlets falling down yet many medium size related business are making a beeline for takeover or assignment of late, one man meat is another man's poison. this is so happening . . .

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(edited)

I am amused after reading the posts in this thread.  
- COV is not the issue, controlled valuation is. The problem is a by-product of a ‘solution’ that some wise guy thought of in order to control HDB prices.  
- Cooling measures will cool prices? Maybe for a qtr or 2. After that, the market will find its own equilibrium and consider it as part of the cost of ownership.  In other words, price actually increase, not decrease.  And for those who is looking to buy, in fact they may either be priced out or have to delay the purchase to save more.  
- Someone suggested raising ABSD for foreigners.....how would it address the high COV paid by 66 year old uncle who bought a HDB? This just shows many just anyhow whack ideas without thinking what is the problem.....

- When I first start work after graduating, my pay was $1,700.  $2,700? 10 years ago already that’s the starting pay for my fresh grad.....

Edited by F10_Blackhawk
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Supercharged
15 hours ago, 13177 said:

This is true. Only when young and healthy then would choose a place quiet and away from amenities, esp if have a car, stay ulu a bit no problem at all. But when old liao, would want to stay near amenities esp like clinic and hospital, also if downstairs have coffeeshop and supermarket best. So that no need to walk too far or travel far even if take taxi/bus. Cause by 70s/80s, maybe not able to drive liao.

This is very true as I was sharing this post with my wife and discussed our retirement plan in TH/MY..."She says as long as must be near amenities, dun ask me to drive out for food or get groceries"....then I said to her current place also not bad...no need car, just go down got everything, hawker ctr, sheng siong, MRT, Clinique, across the road got wet market, provision shops and hardware shops...[laugh]

worse case scenario if the craving for prata and nasi biryani, then take a short short drive to Changi Village to get our fix...[laugh] 

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The wise old man of 66 has been used as a genuine case to raise CM, Taxes, ABSD++, i also believe G are clueless what causes so high COV, go ask those property guru king and queens on video and they will say a 101 reasons why so . Muahahaha !

For heaven sake, do spare the 66 yo wise man and leaeve him alone once and for all.

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everybody love to stay near amenities.

but for a 66yo to downgrade to a hdb flat for retirement, not easy.

face value leh.

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On 4/6/2021 at 8:30 AM, noobcarbuyer said:

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. 

Best way to collect more cash to top up deficits is to let it run. Transaction numbers increase plus price increase, Govt will recoup left right centre extra fast. 

It is indeed the right time to collect more. Look at COE levels as well... 

There will be another time for more CMs, but the time is not ripe yet. 

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Internal Moderator
9 hours ago, keanC said:

everybody love to stay near amenities.

but for a 66yo to downgrade to a hdb flat for retirement, not easy.

face value leh.

maybe this uncle don't have facebook? hahaha. 🤣

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9 hours ago, keanC said:

everybody love to stay near amenities.

but for a 66yo to downgrade to a hdb flat for retirement, not easy.

face value leh.

Near could mean different things to different people.

i personally hate crowds too near my residence. A distance of at least 3mins-5mins walk away is much preferred.

Singapore is already so congested. Dont need more congestion the moment i step out of my house.

at 66 yrs old, with not enough money, why think about face?

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Its not just about cooling measures, its about how cool the cooling measures are.
if you really want to cool things down, dont use half baked measures. Whack them hard. Minimum 30% down for first property, min 50% cash down for 2nd property. Min 75% cash for third property.  Only up to 50% cpf allowed for properties in view of inflation.  If units are left empty, additional hoarding tax applies.   Just a few examples.   If need more can ask me👍👌 i can be very creative too

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Supercharged
1 hour ago, Throttle2 said:

Its not just about cooling measures, its about how cool the cooling measures are.
if you really want to cool things down, dont use half baked measures. Whack them hard. Minimum 30% down for first property, min 50% cash down for 2nd property. Min 75% cash for third property.  Only up to 50% cpf allowed for properties in view of inflation.  If units are left empty, additional hoarding tax applies.   Just a few examples.   If need more can ask me👍👌 i can be very creative too

hahahah...your measures is akin to cut grass, uproot the roots as well....[laugh]..one time all die!!

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(edited)
3 minutes ago, Spidey10 said:

hahahah...your measures is akin to cut grass, uproot the roots as well....[laugh]..one time all die!!

Well some people can make it, others cannot. I am helping those who cannot.   😚

Edited by Throttle2
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Supercharged
1 hour ago, Throttle2 said:

Well some people can make it, others cannot. I am helping those who cannot.   😚

that's true!! [laugh]

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