Sandwiched generation? It's happening elsewhere too.

[Rickster]

50 minutes ago, bsswan said:

That was a long time ago....... now also buying a first house is almost impossible.

I think this is common for every city in every country.

Used to travel around quite abit several years back and every city is basically the same... their property prices are way out of reach for an average peasant working in the city.

[Ct3833]

So in comparison, while we expect the government to do better and more, we  should also be feeling blessed that we and our children are in a better place.  Competition will get tougher moving forward, that is a given. 

[Arogab]

1 hour ago, yishunite said:

But 1 kid 2 ageing parents is almost nationwide problem for China... not so common in many other countries

I find most of my friends once made decision to have kids all have 2-3. Very few stop at one unless forced by complications etc. Sg problem is vast number of unmarried or childless who have no one to look after them. End up we need a system of elderly care for this type of group and cannot assume family support of elderly can work ... it will leave this giant group of childless to hang

Agree, many of them single kids will have problems. end up one couple take care of 4 old folks. But there are also many advantages, as I live there 16 years, I see 4 old folks helping the one couple financially instead unless they are very poor. Haha

Just like one of my engineer, he is earning 24k salary (less than SGD5k) but buys a 7M RMB condo ($1.4M) with proper down payment. This one still not too bad cos the wife is also topping up the salary. Another junior engineer, both couple earning only less than SGD2k, they buy apartment 1M SGD. All money comes from old folks lah

[Arogab]

1 hour ago, DOBIEMKZ said:

Soon parents in China (especially those in cities and urbanite areas) will develop the Kia-su mentality like parents in Singapore. Many things they want the best for their children and many time they comparing their children with their peers.... ://

Already started long ago

[Windwaver]

You'll know if you're a grand parent in Singapore, cannot retire still must help look after grand kids 

Really work until go heaven.

[inlinesix]

7 minutes ago, Windwaver said:

You'll know if you're a grand parent in Singapore, cannot retire still must help look after grand kids 

Really work until go heaven.

QE also

World Richest Monarch 🤭

[Victor68]

1 hour ago, Arogab said:

Agree, many of them single kids will have problems. end up one couple take care of 4 old folks. But there are also many advantages, as I live there 16 years, I see 4 old folks helping the one couple financially instead unless they are very poor. Haha

Just like one of my engineer, he is earning 24k salary (less than SGD5k) but buys a 7M RMB condo ($1.4M) with proper down payment. This one still not too bad cos the wife is also topping up the salary. Another junior engineer, both couple earning only less than SGD2k, they buy apartment 1M SGD. All money comes from old folks lah

Are we heading that way too? Although basic pay maybe higher here for some, cost of living also high beside housing. Try taking lunch around marina bay area, food plus drink easily around $10. 

[inlinesix]

27 minutes ago, Victor68 said:

Are we heading that way too? Although basic pay maybe higher here for some, cost of living also high beside housing. Try taking lunch around marina bay area, food plus drink easily around $10. 

Shenton House & Arcade has cheaper option.

 

[Arogab]

2 hours ago, Victor68 said:

Are we heading that way too? Although basic pay maybe higher here for some, cost of living also high beside housing. Try taking lunch around marina bay area, food plus drink easily around $10. 

Yeah, somehow, all are heading this direction lah. Part and parcel of development and those lifestyle in the 90s whereby I feel Singaporeans were at the happiest were no longer there. 

Only way is to keep earning more and more to catch up the inflation or you will just be lack behind. But I have tell myslef, for my age, enough is enough. I am not going to stress and go further liao

Good thing is we still have less than $500K HDB to apply for

[Victor68]

5 minutes ago, Arogab said:

Yeah, somehow, all are heading this direction lah. Part and parcel of development and those lifestyle in the 90s whereby I feel Singaporeans were at the happiest were no longer there. 

Only way is to keep earning more and more to catch up the inflation or you will just be lack behind. But I have tell myslef, for my age, enough is enough. I am not going to stress and go further liao

Good thing is we still have less than $500K HDB to apply for

Unfortunately when people are happy selling HDB at $1m, the new BTO has to be priced to match potential land cost of $1m value. this is the way government do valuation of land cost. How to match this for a salaried person? 

Edited September 20, 2022 by Victor68

[Windwaver]

52 minutes ago, Victor68 said:

Unfortunately when people are happy selling HDB at $1m, the new BTO has to be priced to match potential land cost of $1m value. this is the way government do valuation of land cost. How to match this for a salaried person? 

Plenty of buying power for properties from Singaporeans, HDB is cheap 

https://sbr.com.sg/residential-property/news/healthy-takeup-lentor-modern-reflects-resilience-mass-market-expert

Healthy takeup of Lentor Modern reflects resilience of the mass market: expert

Lentor Modern sold 84% of its units.

Lentor Modern’s impressive sale launch proved the resilience of mass market private residential segment and that there is an underlying demand for well-located projects from Singaporeans, property expert PropNex Realty said.

The property, the first and only integrated mixed-use development to be built in the new Lentor Hills estate, sold 508 units or 84% of its total during its weekend launch on 16 and 17 September.

Lentor Modern also sold all 63 one-bedroom units and 231 two-bedroom units during the launch, as well as 182 units, or more than 73% of the 248 three-bedroom units.

Prices of sold units at Lentor Modern during the launch ranged from $1,856 per square foot (“psf”) to $2,538 psf. 

Meanwhile, Singaporeans constituted around 92% of the buyers.

“We think the strong buying interest in Lentor Modern has also got to do with the project’s strategic location as a future community focal point within the upcoming Lentor Hills estate. It is the only integrated development in the Lentor Hills estate - that will be connected to the Lentor MRT station and will comprise a retail mall,” PropNex commented.

“This is the main draw as it offers a lot of convenience to future residents, with direct access to amenities and a straight train ride down to the city via the Thomson-East Coast Line when it is fully operational,” the expert added.

Following Lentor Modern’s successful sale, PropNex expects more housing to be added to the new Lentor Hills estate, with nearby Lentor Hills Residences and several other residential sites in the pipeline.

The expert also anticipated that Lentor Modern will set the benchmark for the subsequent projects to be launched in this area.
 
“We think many buyers deem the prices at Lentor Modern to be acceptable for an integrated development in a fairly central part of Singapore,” the expert said.

[Victor68]

8 minutes ago, Windwaver said:

Plenty of buying power for properties from Singaporeans, HDB is cheap 

https://sbr.com.sg/residential-property/news/healthy-takeup-lentor-modern-reflects-resilience-mass-market-expert

Healthy takeup of Lentor Modern reflects resilience of the mass market: expert

Lentor Modern sold 84% of its units.

Lentor Modern’s impressive sale launch proved the resilience of mass market private residential segment and that there is an underlying demand for well-located projects from Singaporeans, property expert PropNex Realty said.

The property, the first and only integrated mixed-use development to be built in the new Lentor Hills estate, sold 508 units or 84% of its total during its weekend launch on 16 and 17 September.

Lentor Modern also sold all 63 one-bedroom units and 231 two-bedroom units during the launch, as well as 182 units, or more than 73% of the 248 three-bedroom units.

Prices of sold units at Lentor Modern during the launch ranged from $1,856 per square foot (“psf”) to $2,538 psf. 

Meanwhile, Singaporeans constituted around 92% of the buyers.

“We think the strong buying interest in Lentor Modern has also got to do with the project’s strategic location as a future community focal point within the upcoming Lentor Hills estate. It is the only integrated development in the Lentor Hills estate - that will be connected to the Lentor MRT station and will comprise a retail mall,” PropNex commented.

“This is the main draw as it offers a lot of convenience to future residents, with direct access to amenities and a straight train ride down to the city via the Thomson-East Coast Line when it is fully operational,” the expert added.

Following Lentor Modern’s successful sale, PropNex expects more housing to be added to the new Lentor Hills estate, with nearby Lentor Hills Residences and several other residential sites in the pipeline.

The expert also anticipated that Lentor Modern will set the benchmark for the subsequent projects to be launched in this area.
 
“We think many buyers deem the prices at Lentor Modern to be acceptable for an integrated development in a fairly central part of Singapore,” the expert said.

This is not something Singaporean should cheer if HDB continues to be traded like private property. It simply means following the trend. The minute HDB is removed from this equation, then let market forces determine how private properties should go.

[1fast1]

11 hours ago, inlinesix said:

LOL

Nihonji stir shit

🤭

The Japanese are some of the most xenophobic buggers on the planet.

But I've read that even they are being forced to open backside to foreign immigrants to sustain themselves. How the arrogant mighty have fallen!

[Windwaver]

3 hours ago, Victor68 said:

This is not something Singaporean should cheer if HDB continues to be traded like private property. It simply means following the trend. The minute HDB is removed from this equation, then let market forces determine how private properties should go.

Professor Sing's article quite interesting 

https://www.channelnewsasia.com/commentary/hdb-bto-private-condo-home-resale-price-affordable-mortgage-inflation-2883131

Commentary: Even with million-dollar HDB flats, housing is still affordable for the average person

 

[Windwaver]

Any Lentor Modern buyer(s) here? Pretty amazing sale figures I must say given the high price located in OCR.

Income inequality getting worse I guess? 

[Windwaver]

 

[Sosaria]

10 hours ago, inlinesix said:

Already started long ago.  More kiasu than Singapore parents hor

Just look at the number of PRC parents here that send their kids for music lessons, dance classes and other bourgeoisie pursuits. Mao would roll over in his grave.

[Atonchia]

11 hours ago, yishunite said:

But 1 kid 2 ageing parents is almost nationwide problem for China... not so common in many other countries

I find most of my friends once made decision to have kids all have 2-3. Very few stop at one unless forced by complications etc. Sg problem is vast number of unmarried or childless who have no one to look after them. End up we need a system of elderly care for this type of group and cannot assume family support of elderly can work ... it will leave this giant group of childless to hang

What was XJP waiting?

Still plan of Zero Covid policy?

Just open up lah, probably will help the alleviate the sandwich issue.