When even those in the property industry and who would benefit from high prices (=high commission) voice concern on the rising prices, then we know it's really seriously wrong. Hope the govt wake up soon.
You are clueless about the type of buyers who pay high prices for HDB. They are usually private condo/landed down graders. Usually in their retirement age. Children married already. They don’t need a huge home that’s why they downgrade. They have all the cash to pay. Why do they need to take up a bank loan?
@@Jake82822that’s true.no bank loan ,at the same time,these down graders inflated the Sg HDB market,making it more expensive as proven by this content….i fear for ordinary Singaporeans for most will b priced out
Demand for central location resale HDB is indeed tremendous, they get at least 5 viewings a week and guaranteed to be sold within a month. No other property type gets such liquidity as usually property is something that's not easy to sell readily.
I don’t wish our young Singaporeans to face unacceptable high prices like in Hong Kong . We should not walk down that path when the negatives are so evident.
@@lwee0556depeg already under KBW. That’s why 10 years ago BTO in bukit merah 500k, now still 500 k 😅 www.hdb.gov.sg/about-us/news-and-publications/publications/hdbspeaks/How-BTO-Flats-are-Priced
You underestimate the amount of money pouring into Singapore in view of stable policies, currency and safe environment in this crazy period around the world. Singapore is now place first consideration when come to wealth protection around the world among the top 1%
Younger generations are mobile and may choose to leave the country. As there are more digital nomads it’s not impossible . Can’t increase number of babies and face with emigration.
One of the current generation just bought BTO at 500 k and sell for 1.78M Many future generation will continue to buy BTO at 500 k and sell for 2M Who is the loser? Those who sell low during 2013 -2019 property downturn haha 😝😝😝
Given up hope to raise a family in Singapore. The government should address this crazy resale flats price. Next, to address the policy of allowing unauthorised pma, and e-bikes zooming in and out of pedestrian walkways, shopping malls and hdb walkways to the lifts areas.
Imagine after selling condo cannot buy 5 room HDB for 15 months, then people who sold condo will opt for 4 room. Prices of 4 room goes up and up. Then owners of 5 room of course want more for their selling price lah….it’s simple logic…. Now every 5 room owner expecting at least 1 million.
The best way for government to intervene is by building larger BTO flat , strip the restriction of single buyer n build these BTO faster….remove the 15 months waiting period…
Hi Mr Loo, thank you for sharing. I feel HDB owners will not feel anything if they are not selling, as it's a home to them. Property investors on the other hand with multiple properties will be happy.
Folks, gov will not intervene for the foreseeable future as demand and purchasing power for million dollar Hdbs prevail. It’s a win win for them as it pushes up the average of hdb prices and the higher the average, the higher hdb can price their new builds. What it does for buyers though is the increasing deflation of their disposable incomes which maaaany will feel in time to come and as it reaches boiling point is when the fun and the time for popcorn begins. This gov has so far been good and useful but it takes way more credit than it deserves. Make all you can now from the sale of your property but be prudent buying the next one, I.e. make sure it’s well within your means.
Honestly, nothing to rejoice if you own this type of million dollar HDB, if it is the only property u own. If you sell high to realise profit, you will have to buy high for yr next property
Yes, those who have children who are going to start their families will be worried. And the clueless govt is wondering out loud why young couples don't want to have kids. Is the govt really that delusional or they are just good actors?
maybe Govt can impose a 5% capital gain tax for private downgraders moving to pte properties and a 30% tax on capital gain for pte property dwellers moving to HDB resale to change behaviour and help HDB stay affordable for young families. I've seen example of a widower who moved from a semi D to a 5 room flat living alone. Perhaps a 2Bed room private would be comfortable for her too....but just my opinion.
I find it extremely puzzling why the gov has not intervened. To begin with, the HDB policy is flawed. You can't promise capital appreciation and at the same time provide subsidy for it (in the case of BTOs). Yet at the same time, if they were to stop the subsidy, they will lose votes. True enough, the gov is doing a balancing act that will soon crumble. The gov cannot allow resale prices to fall either, because lots of the older generation's wealth is locked into HDB. If prices fall, you can be almost 99.99% assured PAP will lose votes. They will not stand to watch resale prices rise to 2 mil, and higher and higher because BTO prices is pegged to resale, and if they want young couples to have children, they need to make BTO affordable, and therefore need to roll out more subsidies. This is a vicious cycle. If we think about the rationale behind the BTO policy, it is not for young couples to make profit after 5-years MOP, it is for making babies, contributing to our super low birth rate. What they could have done is that if young couples want a BTO flat with subsidies, they have to conceive within xx number of years and if unable to do so, subsidies should be clawed back. But of course, while that may be the right thing to do, PAP will lose votes. Bottom line... the gov is just putting in hot fixes to what is happening to the market. Even they don't have a win-win solution on how they solve the problem at the root, and at the same time not losing votes. HDB is a political problem , one wrong move, bye bye to precious votes. Thank you Mr Loo for the analysis, I think it is very likely that 5-room prices will fused with EC prices (in fact I think it is already happening).
Ultimately it’s a matter of how many winners vs losers, is PAP leaning more towards home-owners or those who are single and wants to own a home? They have to pick their stance
Main reason is because the bulk of landed property owners are in their retirement age, and most want to downgrade because they don’t need such a huge home. Most buyers of landed properties bought it in the 1990s-early 2000s where land was much cheaper that time.
I am sad, no control over crazy price. So many resale flats sold over a million dollars. What are our armchair authorities doing? No solutions from them.
Yeah, very upset with Desmond Lee and Lawrence Wong. Indirectly forcing those who can’t get BtO to fork out so much and let BTO buyer make $500k and now going to $600-$700k profit.
Who said 80% of Singaporean who own HDB cannot have their property of over 1 million? The fact is HDB had been undervalue for over 10 years when the HDB loan rates of 2.5% were much higher than private mortgage rate of 1.5% for years ! Now private mortgae rate is 4.5% but HDB still stay at 2.5%. What happen to affordability ? Of course private property will slow down. HDB is only playing the catch up game.
for all those who are just past the income ceiling and cant afford bto…its very sad to be the sandwiched class 😢 too “rich” for bto and too poor for resale hdb/condo
Dear Mr loo, rising resale hdb prices generally benefit homeowners. Those who lose out are the 1st time homebuyers, particularly singles. I believe the govt will release some "drastic" measures after GE is over :)
In the very very first place, how can HDB be fried up and down in the market? HDB should not be able to be traded in the market. It should only be sold back to HDB if u dont want it. For those wana buy HDB should approach HDB. For those wana fry u to fry the private market, fry up to 1billion 1trillion I don’t care
My take is that such property price expectation drives up wage expectation and consequently inflation. Many more will go to Johor and neighboring countries for cheap good and food. We will inadvertently hollow out our SMEs. I think the experts are only looking at one perspective of affordability. As usual, govt will probably not do anything until it is too late. sigh ....
Hdb prices are going up is because some very selfish people are buying bto and resale flats which they do not actually need. For example about 20% of people who buy bto are not staying in them. They rent it out immediately to collect rent without staying in themselves, and or keep them for 5 years and sale them for a huge profit. Some who buy resale flats do not stay in them but rent out the whole unit. Some of them are not even in Singapore. Most of these people are China men and Malaysia people. These is possible because our government have no guts to jail these people. So you can say that the government is actually the one that create these problems.
Aiya, whatever Singapore cannot live here anymore, our hard earned money can't even catch up the steep rising of prices so join you living in JB, Mr Loo! Better grap one unit there before prices go up think will be an exodus of Singaporeans like us flocking, a sad situation indeed!
The rising HDB prices have created a false facade of wealth in SG. Based on the Gini index (compiled by the World Bank), SG is the amongst very few countries with the highest Gini coefficient (over 40+ %). There's an ominously huge wealth gap hidden in the background.
Private properties are also so expensive, 99 years LH too. $2.×k plus psf, even living next to the prison. Higher income earners, not eligible for BTOs could also have been priced out. A new HDB resale, cheaper some more, is a good substitute. Living in HDB also enjoy all kinds of government subsidies.
Owning subsidised HDB is Singaporean's right regardless of financial status. Our pioneer generation gave up their land to govt in exchange of a flat which share the smaller piece of land underneath with many other owners.
With private property being so expensive, how can the much cheaper HDB not rise in prices? HDB and Condo owner wealth gap will become bigger if price of private properties keep increasing but not HDB. If HDB price were to be delinked totally from private properties, there would be a big wealth gap between the HDB and private properties owner unless there is a crash in overall prices
I doubt the government will intervene on the demand side of HDB flats. What they will do is to ramp up the supply of BTOs. It is in the interest of the older, current, the future generations of the people and the government to see an increased property values in HDB. It raises aspirations of the people and motivate the mass population to work harder, which will improve the economy as a whole. What i will see as a consequence of this ever rising HDB prices is a spillover effect to JB property prices. Because the private property prices in SG will begin to saturate due to the out of reach prices for the mass population in time to come. JB prices will now have a reason to further increase the prices in order to catch up with SIngapore.
Price of HDB needs to go up higher each year than interest rate on CPF Ordinary Account or the rapid decline to zero due to 99-yeat lease will come sooner than later.
Majority are happy with govt. Only the small greedy minority curse and swear, hoping to buy low and sell high. PAP not stupid lah, so cannot extort the govt. Want to live in Singapore? Work hard but don't threaten the govt.
Was sceptical how come Mr Loo now talking more about property. You are an expert meh? But watching this video, you nailed it Mr Loo. I think it s still kind of willing buyer willing seller situation, although I agree this outliers (one off) will become common, hence seller expectations to sell the bto or even resald at higher price also will bcm a norm. Is govt intervention needed? Yes IMHO. For the needed groups with real needs as u mentioned. Because hdb still have to carry the mandate to provide affordable, quality public housing right?
as I said in Nov 2023, HDB prices would be up due to MOP in effect after June 2024 new flats.... Math would tell u that the areas affected by MOP ( including sub urban woodland ) , supply curve would shift down coz 4 years of built year +10 years of MOP= 15 years , of which in 2039 for those affected areas to be normal.
😂😂😂 back then I pay the highest price for resale HDB, few hundred % than my parents flat of same kind same build. I still make 100% and now a proud owner of few properties. Vote PAP, you huat, I huat, every body huat ah!😂 Next generation will have even higher starting pay.
@@choonhockong8215 I own a flat but so what if it fetches a higher price now? My children will need to pay higher prices when they need to buy to start a family and become enslaved to bigger mortgages. Even if I downgrade to a smaller flat, the "profit" I make is smaller than the premium that next generation has to pay. Is this a healthy ecosystem? Frankly I don't think so.
Why rock the boat ? Ruling party should focus on providing more BTOs as waiting it out is the least impactful option to the electorate. Any cooling measure not done well will impact votes for current majority home owners - interestingly both private and HDB owners.
What's the problem? If you are worried about the future gen, no one is going to stop you from selling your flat cheap cheap to help the future gen. Do it, don't be a hypocrite and want to sell at market rate hor
I feel the government have a huge prob to solve. ppl fm the Merdeka generation many hv asset namely their fully paid flat but low RA. This bcom the govt prob eventually. By asset inflation this seniors can monetize either sell n buy smaller or LBS. This plan if effectively implemented will help alleviate the lease decay to zero issue and the seniors low RA issue. Also young couples may be force to stay with parents till bto is ready thereby help look after their parents longer. Just my thoughts.
It is a willing buyer, willing seller market. It means either is an euphoria, short of supply or speculative. Just a gentle reminder the world is downsizing job market even at big2 corporation. Hopefully good times are forever. Only for those who really could afford with many months expenses intact in case got drastic job/economy changes. Tks. 🙏
Let the singles buy 3 room? The govt won't even allow those with foreign spouse to buy bto 3 room much less singles. With this kind of price, I shudder to think of how much young couples just a few years younger than me would have to fork out just to have a roof over their heads. It doesn't make sense that we are paying so much for a kkk liability.
Why intervene to get lesser stamp duties and absd? Future generations will be the ultimate loser in this game unless like you able to give each of your kids 1 prty each...but how long can this game continue?
Mr.loo, our gov allow single to buy 2 rm bto flat , but if they want 3 rm flat then they hv to buy from open mkt. (cos gov say bigger bto flat is mean for family, not single)
right now only singaporeans can buy HDB and private condo. foreigners will stay away because of 60% absd for private residentials. i think resale HDB prices will be higher than condo eventually because resale HDB can take cheap HDB loan that is relatively risk free from interest rate spikes. condo must take bank loan and exposed to fed rates.
Central location HDB are already more expensive than those faraway location condo. Location is more important than the property type, lots of old freehold condo in ulu location don't make money at all.
HDB needs to remove the word “affordable public housing” from its mission statement 😂 As resale prices rise, BTO prices will also rise as they are pegged to resale. Future generations 💀
doing yourself a disservice by using sensational price. more impt is the average price n increase. at 2.1% quarterly is much less then the monthly inflation of 2.8%, 2.6% n 2.4%. property appreciation usually above inflation rate as ppty is mainly used for hedging against inflation. the situation is not bubbling perhaps need to watch out for speculative effect spill over from private causing the outlier price. it was real bad 2 yrs ago when price increase was much faster than inflation, hence a slew of cooling measures.
the Dawson hdb scored a $1443 psf rate. This is almost the same price as my condo in the geographic centre of SG.... This is crazy, my condo should be at least 30% higher on psf ie 1900 psf😢
We just bought a 3 room resale HDB
When even those in the property industry and who would benefit from high prices (=high commission) voice concern on the rising prices, then we know it's really seriously wrong. Hope the govt wake up soon.
They will only wake up if the coming GE they suffer a big setback just like in 2011 when they lose a GRC for the very first time.
@@nickng-jm1vk sinkies would want to ensure their property keeps appreciating , so likely they will keep voting PAP lah
Simply out of control! How the bank will loan the $1.75 mil and validate the valuation, and why HDB approves such sale?😮
You are clueless about the type of buyers who pay high prices for HDB.
They are usually private condo/landed down graders. Usually in their retirement age. Children married already. They don’t need a huge home that’s why they downgrade.
They have all the cash to pay. Why do they need to take up a bank loan?
@@Jake82822that’s true.no bank loan ,at the same time,these down graders inflated the Sg HDB market,making it more expensive as proven by this content….i fear for ordinary Singaporeans for most will b priced out
Demand for central location resale HDB is indeed tremendous, they get at least 5 viewings a week and guaranteed to be sold within a month. No other property type gets such liquidity as usually property is something that's not easy to sell readily.
this is the effect of hdb label std, prime n prime plus from h2 2024.
I don’t wish our young Singaporeans to face unacceptable high prices like in Hong Kong . We should not walk down that path when the negatives are so evident.
they won't due to BTO.
I have a smart idea. The parents enjoy the windfall and this goes to help pay for their children's unaffordable flats🤭👍
I call it the Bo Lai Strategy
@@MsCorydorus Don't forget BTO prices are pegged to the prevailing market price so it won't be affordable at some point.
@@lwee0556depeg already under KBW.
That’s why 10 years ago BTO in bukit merah 500k, now still 500 k 😅
www.hdb.gov.sg/about-us/news-and-publications/publications/hdbspeaks/How-BTO-Flats-are-Priced
bs. bto price is cost price n quarter/median income affordability, what pegged at resale price. r u saying hdb lying??
You underestimate the amount of money pouring into Singapore in view of stable policies, currency and safe environment in this crazy period around the world. Singapore is now place first consideration when come to wealth protection around the world among the top 1%
Correct, foreign money flowing into DBS
That money is not flowing into HDB…we are talking about HdB here.
@@ds68889 Please lah. Everything floats when water rises.
@@ds68889a rising tide will float all ships. It’s inevitable.
@@ds68889 You are Sinkie? You aware how Singapore Inc works?
I feel sad, not for myself, but for future generations. The price is something I struggle to understand.
Younger generations are mobile and may choose to leave the country. As there are more digital nomads it’s not impossible . Can’t increase number of babies and face with emigration.
Future generations are the biggest losers. So terrible.
One of the current generation just bought BTO at 500 k and sell for 1.78M
Many future generation will continue to buy BTO at 500 k and sell for 2M
Who is the loser? Those who sell low during 2013 -2019 property downturn haha 😝😝😝
Given up hope to raise a family in Singapore. The government should address this crazy resale flats price. Next, to address the policy of allowing unauthorised pma, and e-bikes zooming in and out of pedestrian walkways, shopping malls and hdb walkways to the lifts areas.
Imagine after selling condo cannot buy 5 room HDB for 15 months, then people who sold condo will opt for 4 room. Prices of 4 room goes up and up. Then owners of 5 room of course want more for their selling price lah….it’s simple logic….
Now every 5 room owner expecting at least 1 million.
Sellers will be happy till they realised their children will not be able to afford housing in the future, or they choose not to have children.
Luckily, I already bought my BTO flat. Just chilling, eating popcorn and watching property prices go up.🤭
These means nothing…. unless you have at least two properties …
The best way for government to intervene is by building larger BTO flat , strip the restriction of single buyer n build these BTO faster….remove the 15 months waiting period…
This is v unhealthy. The govt is very far behind the curve.
"Behind the curve" is being kind to them. :D it's a breakaway train and the driver (and co-driver) is sleeping at the wheel
Ministers living in their mansion and enjoying their million dollars pay.
If nothing is done by the authorities, young local professionals, especially in STEM, should consider migration to overseas..
Hi Mr Loo, thank you for sharing. I feel HDB owners will not feel anything if they are not selling, as it's a home to them. Property investors on the other hand with multiple properties will be happy.
Thks Mr Loo for the analysis. 👍
Jai Hind. Let all fella Singaporean become Millionaire HDB Winners.
Folks, gov will not intervene for the foreseeable future as demand and purchasing power for million dollar Hdbs prevail. It’s a win win for them as it pushes up the average of hdb prices and the higher the average, the higher hdb can price their new builds. What it does for buyers though is the increasing deflation of their disposable incomes which maaaany will feel in time to come and as it reaches boiling point is when the fun and the time for popcorn begins. This gov has so far been good and useful but it takes way more credit than it deserves. Make all you can now from the sale of your property but be prudent buying the next one, I.e. make sure it’s well within your means.
This is scary and sad. Sad for the future of our younger generations.
The role of the Singapore government is NOT to govern, but to extract the most value. It's a business.
Let us put PAP out of business at the next GE.
Honestly, nothing to rejoice if you own this type of million dollar HDB, if it is the only property u own. If you sell high to realise profit, you will have to buy high for yr next property
Yes, those who have children who are going to start their families will be worried. And the clueless govt is wondering out loud why young couples don't want to have kids. Is the govt really that delusional or they are just good actors?
@@abcabc-m1qdelusional probably, since they don’t encounter such problem for themselves with the million dollar income the ministers have.
maybe Govt can impose a 5% capital gain tax for private downgraders moving to pte properties and a 30% tax on capital gain for pte property dwellers moving to HDB resale to change behaviour and help HDB stay affordable for young families.
I've seen example of a widower who moved from a semi D to a 5 room flat living alone. Perhaps a 2Bed room private would be comfortable for her too....but just my opinion.
I find it extremely puzzling why the gov has not intervened. To begin with, the HDB policy is flawed. You can't promise capital appreciation and at the same time provide subsidy for it (in the case of BTOs). Yet at the same time, if they were to stop the subsidy, they will lose votes. True enough, the gov is doing a balancing act that will soon crumble.
The gov cannot allow resale prices to fall either, because lots of the older generation's wealth is locked into HDB. If prices fall, you can be almost 99.99% assured PAP will lose votes. They will not stand to watch resale prices rise to 2 mil, and higher and higher because BTO prices is pegged to resale, and if they want young couples to have children, they need to make BTO affordable, and therefore need to roll out more subsidies. This is a vicious cycle. If we think about the rationale behind the BTO policy, it is not for young couples to make profit after 5-years MOP, it is for making babies, contributing to our super low birth rate. What they could have done is that if young couples want a BTO flat with subsidies, they have to conceive within xx number of years and if unable to do so, subsidies should be clawed back. But of course, while that may be the right thing to do, PAP will lose votes.
Bottom line... the gov is just putting in hot fixes to what is happening to the market. Even they don't have a win-win solution on how they solve the problem at the root, and at the same time not losing votes. HDB is a political problem , one wrong move, bye bye to precious votes.
Thank you Mr Loo for the analysis, I think it is very likely that 5-room prices will fused with EC prices (in fact I think it is already happening).
election coming
Ultimately it’s a matter of how many winners vs losers, is PAP leaning more towards home-owners or those who are single and wants to own a home? They have to pick their stance
Main reason is because the bulk of landed property owners are in their retirement age, and most want to downgrade because they don’t need such a huge home.
Most buyers of landed properties bought it in the 1990s-early 2000s where land was much cheaper that time.
I am sad, no control over crazy price. So many resale flats sold over a million dollars. What are our armchair authorities doing? No solutions from them.
They are focused on clear-your-own-tray and bring-your-own-bag policies lah
Yeah, very upset with Desmond Lee and Lawrence Wong. Indirectly forcing those who can’t get BtO to fork out so much and let BTO buyer make $500k and now going to $600-$700k profit.
Who said 80% of Singaporean who own HDB cannot have their property of over 1 million? The fact is HDB had been undervalue for over 10 years when the HDB loan rates of 2.5% were much higher than private mortgage rate of 1.5% for years ! Now private mortgae rate is 4.5% but HDB still stay at 2.5%. What happen to affordability ? Of course private property will slow down. HDB is only playing the catch up game.
for all those who are just past the income ceiling and cant afford bto…its very sad to be the sandwiched class 😢 too “rich” for bto and too poor for resale hdb/condo
Dear Mr loo, rising resale hdb prices generally benefit homeowners.
Those who lose out are the 1st time homebuyers, particularly singles.
I believe the govt will release some "drastic" measures after GE is over :)
It's too late for the government to intervene "bo chap" syndrome 😂
Cannot be helped lah. Singapore land limited. Feel sorry for those with landed property who sold years ago.
Jai Hind. Bhai, even the cows are so happy that they will jump over the moon.
Thank you Gov for giving all Singaporean 2 chances to buy BTO at 500 k and sell for 1.78M 🎉🎉
Unless you are PR, then only can buy resale HDB
In the very very first place, how can HDB be fried up and down in the market? HDB should not be able to be traded in the market. It should only be sold back to HDB if u dont want it. For those wana buy HDB should approach HDB. For those wana fry u to fry the private market, fry up to 1billion 1trillion I don’t care
100%
significant amount of wealth in singapore are generated from this (directly or indirectly). no way the govt will remove it from the market.
u need an investment property to benefit from any price hike. owner occupied property is not an investment per se.
My take is that such property price expectation drives up wage expectation and consequently inflation. Many more will go to Johor and neighboring countries for cheap good and food. We will inadvertently hollow out our SMEs. I think the experts are only looking at one perspective of affordability. As usual, govt will probably not do anything until it is too late. sigh ....
It is good only in the short run for younger folks, BTO prices will catch up to resale and likely faster than wage growth.
Hdb prices are going up is because some very selfish people are buying bto and resale flats which they do not actually need. For example about 20% of people who buy bto are not staying in them. They rent it out immediately to collect rent without staying in themselves, and or keep them for 5 years and sale them for a huge profit. Some who buy resale flats do not stay in them but rent out the whole unit. Some of them are not even in Singapore. Most of these people are China men and Malaysia people. These is possible because our government have no guts to jail these people. So you can say that the government is actually the one that create these problems.
Aiya, whatever Singapore cannot live here anymore, our hard earned money can't even catch up the steep rising of prices so join you living in JB, Mr Loo! Better grap one unit there before prices go up think will be an exodus of Singaporeans like us flocking, a sad situation indeed!
I will VTO ... in hope government wake up their idea!
u should be in the HDB advisory committee...
The rising HDB prices have created a false facade of wealth in SG. Based on the Gini index (compiled by the World Bank), SG is the amongst very few countries with the highest Gini coefficient (over 40+ %). There's an ominously huge wealth gap hidden in the background.
Everyone know is not a one time off thing but the government insists is a one-time off, how?
Although everyone knows inflation is a bad thing, most people actually want it, and many people have benefited from it.
Once the inflation genie is released from the lamp, it’s not going back in.
Good job! Continue to put a lot of restrictions on private thats wat ppl gg to play with yr hdb
While I’m glad that HDB resale prices went up.
The losers will be our Children. A balance or a speed break is needed for the pricing.
I am happy because mean Singaporean are doing well can pay for such HDB.
Have to empty my retirement fund as a single in order to afford a new HDB resale unit😢
@@ds68889 mean u need to watch Mr loo video more on how to spend within ur mean. I stayed in rental hdb before.
I am curious, are they new citizen / PR buyer?
I need to sell my HDB and go stay with Mr Loo at Mount Austin.
Private properties are also so expensive, 99 years LH too. $2.×k plus psf, even living next to the prison. Higher income earners, not eligible for BTOs could also have been priced out. A new HDB resale, cheaper some more, is a good substitute. Living in HDB also enjoy all kinds of government subsidies.
We can't really stop HDB prices from going up because it is mostly from condo downgraders who're cash rich.
Most are condo enbloc who're cash rich and making some downgraders not able to downgrade.
Owning subsidised HDB is Singaporean's right regardless of financial status. Our pioneer generation gave up their land to govt in exchange of a flat which share the smaller piece of land underneath with many other owners.
I am born here served army. Don’t get to bto. Over income ceiling
With private property being so expensive, how can the much cheaper HDB not rise in prices? HDB and Condo owner wealth gap will become bigger if price of private properties keep increasing but not HDB. If HDB price were to be delinked totally from private properties, there would be a big wealth gap between the HDB and private properties owner unless there is a crash in overall prices
Mr Loo...what suggestions can u offer to govt?pls share
I doubt the government will intervene on the demand side of HDB flats. What they will do is to ramp up the supply of BTOs. It is in the interest of the older, current, the future generations of the people and the government to see an increased property values in HDB. It raises aspirations of the people and motivate the mass population to work harder, which will improve the economy as a whole. What i will see as a consequence of this ever rising HDB prices is a spillover effect to JB property prices. Because the private property prices in SG will begin to saturate due to the out of reach prices for the mass population in time to come. JB prices will now have a reason to further increase the prices in order to catch up with SIngapore.
H Mr Loo thanks for sharing 👍🥰
Mr Loo,
The ONLY way prices will drop to realistic values is if a Major RECESSION takes place
It is coming .
I hope I m wrong .
Price of HDB needs to go up higher each year than interest rate on CPF Ordinary Account or the rapid decline to zero due to 99-yeat lease will come sooner than later.
Mr Loo, you can cut the 10 min walk to Queenstown MRT to 5 minutes…there is a pathway called condo lane that cuts straight to the MRT!
Majority are happy with govt. Only the small greedy minority curse and swear, hoping to buy low and sell high. PAP not stupid lah, so cannot extort the govt. Want to live in Singapore? Work hard but don't threaten the govt.
Downgraders also need to pay 15 months of rental after selling condo.
Was sceptical how come Mr Loo now talking more about property. You are an expert meh?
But watching this video, you nailed it Mr Loo.
I think it s still kind of willing buyer willing seller situation, although I agree this outliers (one off) will become common, hence seller expectations to sell the bto or even resald at higher price also will bcm a norm.
Is govt intervention needed? Yes IMHO. For the needed groups with real needs as u mentioned. Because hdb still have to carry the mandate to provide affordable, quality public housing right?
as I said in Nov 2023, HDB prices would be up due to MOP in effect after June 2024 new flats.... Math would tell u that the areas affected by MOP ( including sub urban woodland ) , supply curve would shift down coz 4 years of built year +10 years of MOP= 15 years , of which in 2039 for those affected areas to be normal.
How about the HDB resale price in 2025.
Singles can buy BTOs, just the smaller units.
It's the next generation that will suffer.
😂😂😂 back then I pay the highest price for resale HDB, few hundred % than my parents flat of same kind same build. I still make 100% and now a proud owner of few properties. Vote PAP, you huat, I huat, every body huat ah!😂 Next generation will have even higher starting pay.
More local pmets would migrate, skip NS and raise a family overseas. Nothing grand staying here.
won't due to BTO
@@choonhockong8215 Just take PR lah. Singapore is still our base. We SG are now rich, hope PM Wong can make SG a powerful nation.
@@choonhockong8215 I own a flat but so what if it fetches a higher price now? My children will need to pay higher prices when they need to buy to start a family and become enslaved to bigger mortgages. Even if I downgrade to a smaller flat, the "profit" I make is smaller than the premium that next generation has to pay. Is this a healthy ecosystem? Frankly I don't think so.
Most sporean should be very happy so why should the government intervene?
Horse have broke out of the stable 😂
singaporean has profit tremendously from PR buying their flats for many years!
Why rock the boat ? Ruling party should focus on providing more BTOs as waiting it out is the least impactful option to the electorate. Any cooling measure not done well will impact votes for current majority home owners - interestingly both private and HDB owners.
seller getting more greedy and buyer getting more desperate, my prediction in 2025, a 3 room HDB resale hit 1 million.
True, singles are having big issues.
Why 2 single siblings cannot buy 3rm bto?
Absolutely, in fact nowadays a lot of couples married are not planning to have babies, this group should just be seen as 2 singles living together.
No cooling measures lah
What's the problem? If you are worried about the future gen, no one is going to stop you from selling your flat cheap cheap to help the future gen. Do it, don't be a hypocrite and want to sell at market rate hor
Almost every Singaporean feels like a top trader making money from the next generation just by sitting on a HDB flat.
I feel the government have a huge prob to solve. ppl fm the Merdeka generation many hv asset namely their fully paid flat but
low RA. This bcom the govt prob eventually. By asset inflation this seniors can monetize either sell n buy smaller or LBS. This plan if effectively implemented will help alleviate the lease decay to zero issue and the seniors low RA issue. Also young couples may be force to stay with parents till bto is ready thereby help look after their parents longer. Just my thoughts.
Not all condo downgraders could afford such high price. Those enbloc condo cash rich owners could afford
The gov must do something. Not all resale flat are sell to downgrader
It is a willing buyer, willing seller market. It means either is an euphoria, short of supply or speculative. Just a gentle reminder the world is downsizing job market even at big2 corporation. Hopefully good times are forever. Only for those who really could afford with many months expenses intact in case got drastic job/economy changes. Tks. 🙏
Let the singles buy 3 room? The govt won't even allow those with foreign spouse to buy bto 3 room much less singles. With this kind of price, I shudder to think of how much young couples just a few years younger than me would have to fork out just to have a roof over their heads. It doesn't make sense that we are paying so much for a kkk liability.
Work till die. Had to buy condo as single
@@juniorjr5328 Wow that's tough. Would be even more so with current pricing.
who is the cai tao?
Haha, good luck to the young punk🤣
The more categories the higher it goes
Why intervene to get lesser stamp duties and absd? Future generations will be the ultimate loser in this game unless like you able to give each of your kids 1 prty each...but how long can this game continue?
Mr Loo anything to say abt Allianz n Income Insurance??😂😂waiting to hear frm ur perpective
Mr.loo, our gov allow single to buy 2 rm bto flat , but if they want 3 rm flat then they hv to buy from open mkt. (cos gov say bigger bto flat is mean for family, not single)
It is a chain effect. HDB is catching up condo. The sky is the limit. Buy high sell higher. Do you think one day condo will be equal to HDB price ?
right now only singaporeans can buy HDB and private condo. foreigners will stay away because of 60% absd for private residentials. i think resale HDB prices will be higher than condo eventually because resale HDB can take cheap HDB loan that is relatively risk free from interest rate spikes. condo must take bank loan and exposed to fed rates.
Central location HDB are already more expensive than those faraway location condo. Location is more important than the property type, lots of old freehold condo in ulu location don't make money at all.
Very sad so expensive really crazy.
no kid winner, got kid loser
Did too little and too late
this is bad really bad.
Strange that so many PRs can buy resale flat so easily
PRs staying in SG are higher earners lol, Singaporeans slowly but surely becoming second class citizens
HDB needs to remove the word “affordable public housing” from its mission statement 😂
As resale prices rise, BTO prices will also rise as they are pegged to resale.
Future generations 💀
I have never been this early
happy la..
doing yourself a disservice by using sensational price. more impt is the average price n increase. at 2.1% quarterly is much less then the monthly inflation of 2.8%, 2.6% n 2.4%. property appreciation usually above inflation rate as ppty is mainly used for hedging against inflation. the situation is not bubbling perhaps need to watch out for speculative effect spill over from private causing the outlier price. it was real bad 2 yrs ago when price increase was much faster than inflation, hence a slew of cooling measures.
Wrong info. Singles can buy 2-room BTO.
the Dawson hdb scored a $1443 psf rate. This is almost the same price as my condo in the geographic centre of SG....
This is crazy, my condo should be at least 30% higher on psf ie 1900 psf😢
Move to JB