Are million dollar HDB flats here to stay?
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- Äas pĆidĂĄn 30. 07. 2024
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In the past two years, the growing number of million-dollar HDB flats has caused some concern. This has left many people asking - has public housing become unaffordable? The Straits Times housing correspondent, Michelle Ng, finds out more. READ MORE: str.sg/wjSE [or subscribers]
0:00 - Introduction
0:58 - The latest cooling measures
1:48 - Part 1: Caught out by HDB resale flat cooling measures?
7:02 - Part 2: Are million dollar HDB flats here to stay?
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ê”Źë ìąìì ì늌 ì€ì !đđ°đ·
The answer is yes. In the open market it is a free call for all and since private property are even more expensive than HDB there will always be people who will want to buy your jumbo,five room and four room HDB flats as long as they have money. The government and bank can drag the waiting time and made bank loan more difficult but they cannot stop you from buying and cooking up the property price.
Just be mindful of one thing if you want to play property or sell your house. Where are you going to sleep and buy another home that is bigger or same in size as your previous house with the money you received. You can't. You can only buy a smaller house in the end. You trade your big house away for short term profits. It still won't prevent idiots from selling though. They will either spend the money away in a few years time and start to regret or they will use the sales proceeds to use as down payment to buy a condo to realise their dream of being a upper class person but at the expense of redoing the whole mortgage cycle again.
Made life simple for yourself. If you have a big house and you are already close to paying it off or already finished paying for it then just just stay and die in it. Dont create extra trouble for yourself by selling it away and start the whole process of paying off a house again. Other people can rest by just doing it once at the age of 40 to 50. You will still be in mortgage hell into your 70s if you cannot learn to tame and temper your housing dream and greed.
Donât sell cannot retire..since u die inside with the depreciation asset,,worst keep maintaining n Reno worthless unit
Do not vote for PAP if they cannot reduce hospital waiting time by next election. Do not vote PAP if they cannot bring down the property price by next election.
HDB BTO........99 YEAR LEASE TIMEBOMB......RENTALS PAID IN ADVANCE.....THX TO LKY & COđ©đ©đ©đ©đ©P&P.....
CITIZENS UNITE......RETURN CPF......HDB BTO.....5O YEAR LEASEđđđđđ
At the end of the day
Those flats still belong to hdb
becoming like hongkong already
Millions 99 yrs rental leases omg đ€
Should interview the buyers.
Just bubbles waiting to be burst !!!
Just remember one thing. The ones who buy your HDB are the winner. The ones who sell their HDB are likely the losers. People use one million to buy your house because they are not eligible for housing grants or have used up their chance already so if they can but a house bigger than a private property with just one million they gain big time. You go and sell your house away and if you used up your chance of getting housing grant your one million will be use up very quickly in a place like Singapore. Ultimately you lose on the long run.
Foreigners should stay out of Singapore business !
@@Buttercookies0 Why? Because the truth hurts? Your business then not mine.
@@anglo-saxonconnor817
Youâre not welcome troll...
Ohh English so free here in sg videos..
The main goal of public housing should be for housing not speculation. While I have no problem with home owners making a profit, it should not be a windfall. There should be a cap on the resale price with a max. percentage based on the purchase price and market price.
I have been saying for the longest time, to keep our HDB flats affordable for all , do not allow PRs to buy our HDB flats and that will stop the price of flats to rise improperly. Itâs the greed of our own citizens to sell their flats at an exorbitant price at the resale market that attract foreigners like PRs who are willing to pay anything to get a flat but in turn, these PRs are the ones who will complain incessantly that the resale flats they have are expensive, coz they can only buy from the resale market. So to solve this problem, itâs best that PRs are not allowed to buy any flat until they become citizens. As PRs, they should only be allowed to rent a flat from HDB...
@@bell-xk5dd Maybe by not allowing PRs to buy HDB flats will solve the problem. I am not sure. But something certainly needs to be done to stop these crazy prices. I am sure there will be even more demand for the HDB flats that will be built in the new downtown where the current port is.
@@bell-xk5dd do u want to sell your unit without profit but breakeven?
@@GKP999 already plh in place to curb flipping..u lag behind the news
@@chinchowpowpook And is it working?
Guys, public housing is political capital for the ruling party. With this cooling measure, if prices still continue to rocket, they will just come up with more measures. Don't forget 2011-2013 and the property market after that....but if you want to believe the agents or propertyguru listings (which are not real prices) go ahead.
Donât agree..all purchase quite high for bto..when sell who want to do negative sales? No one
@@chinchowpowpook ya then hold as long as they want lor....Just don't imagine quick profits hor
@@hgft274 quick profit for condo lah..hdb bto construction + mop 10 years is quick???
@@chinchowpowpook u bought condo at peak price is it?
There are too many complains against the gvmt in this regards. The resales mkt is opened for all including those that are not qualified for bot, henceforth itâs just the consequence of offer and demand
The question should be about the new BTO prices, not the resale market.
Haha..which government donât want to make $$$ to build a house? U want to vote for a government fail to make profit for housing projects??
Those have eyes yet cannot see will lose everything very soon.
Singapore is just expensive at everything, given how they are the Asia's power hub, there's no surprise, but imagine 1 million dollar that would get you just a single HDB apartment, you can get a 500m2 landed house anywhere in SEA, though obviously living in Singapore has it's own perks such as perfect public transportation, cleanliness and well structured. but if i have 1 million dollar to spend on housing, i would just move out from Singapore and start a new life in Malaysia or something with that 1 million dollar XD
Absolutely. 1m probably can get a HDBin SG. Elsewhere in SEA, can get a decent grade A condo in nice location + car + maid + some cash left over
Agreed.
U should move out..less competition and good for those stay like us
@@4535G so when u leave?? Update here.
@@chinchowpowpook worry not, i am not Singaporean, i live in Indo, but i fuckin love your country, visit there at least 4-5x a year to shop and eat, you guys are lucky tho to be in Singapore haha
It will be here much earlier as long as new BTO flats continue to be sold without actual cost subsidies.
The so called âCooling measureâ is actually a âPenalty measureâ for the first time flats buyers and young people who donât have so much cash on hands!
But itâs a â Rewarding measureâ for the CASH RICH buyers who have sold their private properties for down grading to HDB flats!
Itâs an advantage for them because they are cash rich and they donât need to take loans, saving on the interests they are willing to pay a million or more to buy the HDB!
This scenario in Singapore now obviously reflected on our government policy is very INEFFECTIVE and very BAD PRO-RICH & ELITES policy!
Instead of they solving the housing problems, yhey created more obstacles and more problems for the citizens!
This 4 G Government has completely moved away from the policies made by our late Founding Father Lee Kuan Yew & Housing Polices co-Founded by him and Goh Kheng Swee, that was fool-proof policies! They have changed until IT IS NOT FOR PEOPLE OF SINGAPORE BUT ONLY FOR THE RICH & ELITES ONLY!
They should ho back to building Standard HDB flats, and go back to the OLD QUE SYSTEM when prospects just register for applications and just wait for their flats to be ready!
Apply draw lots or ballots system only for the selection of units!
In this way everyone can get their flats and prevent the panic buying and pushes up the unreasonable prices!
In all our government has failed the citizens!
Do not vote for PAP if they cannot reduce hospital waiting time by next election. Do not vote PAP if they cannot bring down the property price by next election.
@@1965Singaporean The Long waiting time in Hospitals is happening in all hospitals, including in private hospitals! Our population increased but the amount of intake of Medicines Students have never increases since it was implemented in LKY time! Due to shortages of Medical Staffs, thus the Long waiting time. Now they are bringing in more Indians Doctors. That will be worst!
Yes vote for opp..let our hdb value drop to zero..let neighbour countries attack us.z.
@@chinchowpowpook haha try to use fear tactics. Limpeh have 2 house I am willingly to sell it if can make SG a better places for our younger generation, instead of benefiting foreigners.
Once you are like me living in multiple landed and have inheritance and lands in the future from kins you won't even bat an eyelid and be moved by what's going on in Singapore property market. Try to shift your money and priorities out of Singapore if you can because once you succeed you will live life so much happier and lighter. A lot of pap IBS mistake me as being jealous or struggling whenever I bitched on Singapore living costs. The fact is the exact opposite instead. I bitched because I am not going to pay more for less in life. Who like to be a sucker when one have better choices in life.
The haters will nay on this post. The ones living in abroad or even surrounding neighbouring countries in luxuriously renovated land houses Singaporeans will all silently agreed.
What is there to be jealous of over Singapore?! Small, competitive,stubborn timid conservative people living in it,not enough good lookers,hot,no four seasons,expensive and stressful. You like it you can stay in it. Others can't wait to leave. The day you realise your maid or tenant have a bigger house than you is the day you realise you are a Robert living in Singapore.
If you are not a Singaporean, what has Singapore's issues got to do with you? What is/are your hidden agendas?
@@Buttercookies0 What hidden agendas do I have except for Singapore to be transform back to her beautiful state in her hey days where life is good and costs are low.
I am one who like to see people happy in life not suffering. I also hate poor people to be force to live under relentless mind conditioning to convince themselves Singapore is a good place for them when it is not.
A generation ago Singapore is much fairer and happier for all. Nowadays the elites are living it up in Singapore whole the middle class and lower class struggle in steep waters.
How can I choose to stay silent and not say a thing at all to help soothe their torture souls? My intention and agenda is pure.
Compared to the self serving and non native Singaporeans who have the common goals of enriching themselves by passing the costs to others I am much more nicer than this kind of so called Singaporeans.
I can buy a Singaporean in need a meal if I see it. I will not leave them to die in life. But I cannot stop those who continue to rise up the bills, costs of food and people who refuse to hire the elderly and marginalize groups to let them have the means to stay alive in Singapore.
If you want to hate and scold then find these people instead and try to stop them from destroying other people lives and the country instead.
A country worst enemy is from within and not from the outside.
@@anglo-saxonconnor817 But the things that you should have interests in should be your own country's problems, isn't it? I don't think your country has no problems, so you should be spending time on your country than others. To take such a passionate approach in addressing another country's problems is strange, not normal from a human's perspective. So, what are your hidden agendas for being so "passionate" towards Singapore?
Sure, we are trying for 2 millions. Moving forward, always.
Billion
@@vincecarlo Why is Singapore struggling with hospital bed shortage?
@@mrtienphysics666
Can you name a country where there are enough hospital beds for all?
@@bell-xk5dd I cannot name another country struggling with hospital bed shortage.
"Singapore will not be caught out by a shortage of hospital beds again."
Khaw Boon Wan, Jul 2010
1. Next gen will be able to afford because of non mature bto.
2. In 10years, a significant % of resale flats would crossed the 50years mark. Lease decay will be put on significant pressure on resale flats. Meaning, our resale hdb could be bear the peak in the next 5 years. Also means the bto in mature places might be suppressed, but still at relatively high prices.
3. Million$ flat will become more common, simply because bto at mature estate are starting at 700k +. Many of these flats would beach or challenge the 1M mark.
4. The cooling measures kinder unfair penalised those who profited from condo and wanna downgrade and small grp of hdb resaler who benefit from these segments. But does nothing to stop million $ flats (see point 3).
Why is the host asking these agents? They are the accomplice to the greedy sellers. I dont believe the host and straits time is that stupid.
Coming from a responsible house owner.
Sound u responsible citizen can sell your unit below 300k valuation to me? If not or u didnât even own one time to vomit out your sour grapes
@@chinchowpowpook and then you reply in your mums room
in short, price continue to rise
2021/2022 resale market prices soar to new heights.
If the cooling measures intent to curb value speculation, obviously it didn't work.
New builds will be more sought after. Clearly, BTO growth đ seems higher than expected.
Owning a home đĄđąđïž in Singapore become a lavish affair. OMGđ€đą
Uphill struggle for Gov to regain public confidence in affordable HDB flats.
if you are greedy, you can call for $2million for a 3 room flat... its all about greed...
Investigation should be carried out against the Lender Bank + Buyer for Money Laundering / Tax Cheats (Unfair to all Taxpayers)
Increase salary lor. Everyone earn 10K per month
All cement man to building engineer also increade 10k
How many 10k increase you wan for your hdb? Lmao
@@lastchangdepapa1247 as many as possible.
Next time just buy a tent and live at void deck can liao
Permit needed with fees for cleaning up..got tents why still void deck??go cemetry area
Malaysian people buying their big houses plus large land yard with lowest prices housing will laughing at Singaporean đ€Łđđđ
Land size yo land size, so simple, lmao
Can u fight kapitalism�
We are now talking about 2 million dollar hdb flats.
$1,000,000.00 + for hdb is the low level entry price form re-sale 5 room hdb...moving forward new hdb 5 room in the city will b $1 million plus..n resale hdb will b $1.5 million
Nothing new leh..if it didnât hit above 1 milâŠmeans our economy very shittyyy
Too many personal bias in the interview. There are always cheaper alternatives. If you want high floor, unblocked views, prime location , of course you have to pay a premium.
My colleagues BTO 7 times cannot get. 6 Time no number, 1 time number far far away. 4 time is so not mature estate hor. She said she will never vote PAP as she may become old age mother. Lol
I thought public housing was originally intended to be affordable for everyone đđđđđđđđ
Is affordable,,all able take loan..u canât? U jiaksai lah
Whiners always kowbeikowbu that 1% of 1 mil hdb..thereâs still 99% below 1 mil,,why donât they take up those??siowlan
Resale 1 Million end of the lease 99 become $0. Worth to buy?
Worth..since u in 30/40s age..another 50 years lease to go after u dead..
HDB reports loosing money selling flats at discount.Than Why HDB Allow Owners to make profit by selling subsidised flats in the market.
The why hahaha,,Hdb lost money what has it got to do with hdb owners who paying to live ???their high labour cost,? Overspending?? None our business..we buy our home they run their business..u Siow lan huh?
When the older flats start their rapid decline in value to zero (a mathematical certainty) in about 10-15 years time (and thousands more will be added to these each year as lease is used up) if there will still be million $ flats.
Peg hdb housing to medium salary for affordability otherwise million dollar btos are next.
When other countries are lousy, their people run to safer(relative)-abode. When people can live cheaply, they will use excess-value for luxuries (ratio). When the influx are spending savings-funds, when the influx are working, they will buy private and create a jump in prices.
HDB prices jump to private prices GAP is widened when the influx is good-quality. HDB provide infrastructure-workers accomodations. If such a jump is narrow, either the HDB is over-priced (leading to inflation of salaries) or the private is under-priced (influx of low-quality salaried-workers)
Manipulative people manipulate due to being poorly educated in economics. Parrot(regurgitate) their way to honors without real understanding. Economics and accounting are balancing-acts democratically. Any deviation from logic puts the offending person in bad-light.
when you don't own a flat, you hope that it cost 100k. when you own a flat, you hope it will fetch 10m.
Invisible hand profit motive - simple as that. Buy Low and Sell High
HDB flats are meant for dwelling, not for making money. Greedy people got these erroneous ideas that they could make money out of our humble flats. If only government would stop PRs from buying resale flats, then the price of our HDB flat will stay stagnant and will always be very affordable in the long run for all buyers/citizens.
PRs should not be allowed to buy our HDB flats, if they want, they can rent flats from HDB and only allowed to buy once they become citizens....this will help to stabilise the cost of all resale flats...
if he wants he can come and rent my place which is a 3 room HDB flat. I am a pet lover so pets are cool for me.
Do not vote for PAP if they cannot reduce hospital waiting time by next election. Do not vote PAP if they cannot bring down the property price by next election.
Vote for opp who do nothing ,,neighbour country attack us..ptys price all drop..
Some flats will continue to fetch more than a million, but the majority will remain affordable due to the cooling measures. đđ
It is ridiculous for HDB flats which are meant to be subsidized housing for Sg citizens are being pushed to such ridiculous price even if itâs resale value. It totally undermine the fundamental policy of HDB flats. It is hoped that MND and HDB take a review and impose strict regulation on the sale price of resale market. Perhaps HDB can consider changing the regulations as follows: (1) May be its time for HDB to control the resale price based on HDB valuation as if the flats were to be sold back under the buy back scheme. (2) To change the rule that only married couples of which one is a Sg citizens are allowed to purchase HDB flats. Reason being the ridiculous prices are driven up by the influx of rich PR married couples. (3) Also single PR should be prohibited from buying resale HDB flats. (4) Rental of rooms or entire unit of HDB flat be for a minimum rental period of 12 months with option to renew for another 12 months instead of current 6 months. Also renewal of rentals should be for a minimum period of 12 months also. Prohibit renewal of 6 months only.
All new HDB flats are sold to citizens at subsidised price. Government is already selling them cheap. Now soils and cement are very expensive, many neighboring countries have stopped selling their soil to us out of spite and jealousy, afraid that Singapore will reclaim more lands from the seas. HDB has to pay hundreds of millions to buy cement, and already said HDB is not making any profits from the flats. So donât kpkb about HBD flats being expensive. We Singaporeans are already damn lucky compared to people in Hong Kong, Japan and Taiwan. There is no such thing as unaffordable flat in Singapore as long as you try to live within your means. Buy a smaller flat if you canât afford a big one. If you want good location, big flat, then donât complain that it will cost more.
â@Seeyou Seemee told u is subsidise already, who in the right mind will tell u all the prices frm sand to steel bar
@@lastchangdepapa1247 You another PAP Dog đ?
It's very rare to have people like you to be clear-minded. Thanks đ for bringing up valid points. JUST IGNORE PAP DOGS. There are just too many of them. Look at all the RCs which help PAP, just too many idiots there to bombard and distort anyone who speak the truth or against PAP.
You option No. 3 is wrong. Single PRs are not allowed to purchase resale HDB.
GREED has already impregnated their soul ....just listen to their B.S.
No
I have said enough in this post already. Here is my final one.
If you are a first time buyer or you are still eligible to that 2 housing grants in life this news doesn't affect you and concern you at all. They can cook the houses to ten millions and it still doesn't affect you if pap is still going to honour their promise to sell you flats at cost build price and further subsidising you with grants. If they don't and the speculation effect trickle into first time buyer realm you know what to do by then which is to throw pap into the rubbish bin with your votes.
This news is only a nightmare to those fighting to secure dream houses in the resale market.
That's not your problem. You a foreigner.
Freedom of speech. If a piece of insight is helpful to people it doesn't matter who contribute it.
@@anglo-saxonconnor817As a foreigner, you do not have any interest in Singapore, so please dedicate your time to your own country. Stop meddling in other country's business. A good person does not meddle into other people's business.
@@Buttercookies0 You assume I am a foreigner and also you impose your own views onto someone who doesn't subscribe to it.
In both cases your assertions is in the wrong here not the one who is enjoying his human right to think and analyse on the situations of life and express it out.
It's normal for a human to think and voice out. A lot of Singaporeans also express vocally on USA,china,Malaysia and everyone else business. How come you dont act as a mother hen to contain them instead.
CONCENTRATION CAMPS
Will there be rich people in Singapore that can afford million dollars to buy ?
There are..are u not?
đ€Łđ€Łđ€Ł
"We intend to keep the value of these homes up, it will never go down. Because it will be renewed, the surroundings will improve, and as Singapore prospers, GDP goes up, the value of homes will go up."
Lee Kuan Yew
2013
Lmao Iâm laffing at u sillyporeans from my bungalow in Mâsia, costing a quarter of ya h dee bees. Lmao
Government needs to de-privatise hdb flats. Controls should hv been given back to.the hdb Board.not driven by Market forces. It was a mistake by GCT to privatise hdb flats
U gotta be those yet to get bto..sour grapes at best
Many will become homeless eventually
Blasphemy from the devil...really ungodly
Only the lazy one without retirement saving
We should start levying additional taxes on PRs (or even citizens) who rent out their HDB flats, esp if they don't live in Singapore. Can't ban them from renting out, that would worsen the rental market that is red hot now. Reducing the expected APY, yield, rental dividends of HDB flats should go some ways to cool the HDB resale market.
I have an irrelevant comment. All of them had to say 'HDB' multiple times and all of them pronounced 'h' wrongly. Look up the dictionary if you are wondering.
so many crocodile tears ?
I'm praying everyday that the 4 room hougang resale flats will go down to 400k.
@@vincecarlo your mindset must have cause you to lose a lot of money.
Then your parentâs house will ask u top up since no retirement fund..u die
@@vincecarlo Wrong. HDB value will rapidly decline to zero when it around 70 years old. This is a mathematical certainty.
Whiners will always complaining high purchase price..does anyone here want buy 700k bto but forever can only sell off at 700k without profit??anyone?? Donât have? Aiyo talkcock eat bun still a whiner
BTO is affordable if you choose immature estate. Some Singaporeans wants cheap public housing but dislike waiting and hope unrealistically for mature area. Don't blame govt. If you want it fast get resale HDB. If you want convenience pay more for mature estate. So far the resale market is determined fairly by demand and supply. Don't expect to pay Apple Iphone the price of Redmi. Unrealistic demand only destroy free market economy and goes against the late LKY's assurance that HDB will become valuable asset for every Singaporean.
Well said đđđ
@@vincecarlo
You can go join LKY in the underworld...heâll welcome you
In 20 years time your unborn children will have to pay $2 million.
If 2 million means country prosper then the more they need buy n live here
Surely the price is pushed up by new citizen who has just obtained their PR, but arent we supposed to prioritize the true blue Singaporeans first?
Always got people kopitiam hearsay without finding data n facts..u r one
Do not vote for PAP if they cannot reduce hospital waiting time by next election. Do not vote PAP if they cannot bring down the property price by next election.
@@1965Singaporean I do not vote for any party that donât make my property value increase, it means they failed to push economy..doomed.
Such a politically correct presentation, like a naive O Level student writing an A1 English essay.
Education system doing a fabulous job in producing talents that bow to Government.