Interesting to watch as a non Singaporean. One thing I can say is that for a global financial/commerce hub HDB property prices are definitely low. Low/Middle class struggles much more to pay for rent in London, HK or NY than in SG. One difference though is that in Europe or US people with low/medium income can choose to live in smaller cities / countryside to get better standard of living (even a landed property). Singaporeans do not really have this option.
We do actually , living at extreme ends of Singapore, might be cheaper than central areas , though it might not be comparable with western culture in term of distance. But Prices of flats do fluctuate between office areas to extreme ends
Have those trying to flip their HDB thought about the next generation? If this continues, our children might no longer able to afford their own house. It will be like other countries, where the parents have to fork out money for their children to have a shelter over their head soon. Similarly, when the prices reach a level where the children can't afford, those '躺平’ and '摆烂' trend/mentality will eventually reach our shore.. Why need to work hard, since they could never afford a house in their lifetime? As a parent, this gotten me worry. Now I need to start saving and worry for my children's home too.
Whether one likes it or not, generational wealth is important for future generations. No govt resets it's economy every decade or century. Then why would any family let its future generations start from scratch fighting inflation and more obstacles in life.
@@CometFire2010 I would have agree with you if the lease of HDB is not 99years. And the intent of HDB was never as an investment, but affordable housing for Singaporeans. I'm very proud that any Singaporeans who just step into society, worked afew years can afford to apply a house with their partner and start planning for their future. Be it the past or now. But that wouldnt apply to the future already. Given how the prices soars now, we are expecting the price of HDB for our children to be at 1-2 mil? How many families can afford, how many young adults without the help from their family can afford to buy a hdb? This is what worries me the most.
Your references is incorrect if you are comparing to overseas housing. HDB is 99 years while overseas are mostly private and freehold. And the further you stay in city the cheaper the home is for overseas housing, too. Whereas in singapore it doesn’t really matter as the price differences is not big enough except for that handful towns….
Actually young couple can go for a smaller flat 1st. I applied for 4rm after 5 years, I applied another BTO for 3Gen unit. Now I moved to my 3G fully paid flat & no more worry of housing loan.
The problem is some young adult singaporeans like to kpkb, complain and blame govt. People never admit their entitlement and arrogant mindset. And some singaporeans have lifestyle spending habits outsized to their actual talents and work skills abilities.
@@scbchong6964 yes. That why I guide my children by living a example way. No need car don't buy. Save the money & invest. But once awhile we will go restaurant for meal for celebration. Simple life but still need rewards ourselves.
Hi Kelvin, can you please make a video on USD -SGD exchange rate ? I’ve seen some people said they gained on USD recently as the USD is so strong. I am worried if i exchange my SGD to USD to buy US stocks, what if in 10 years time the exchange rate drops alot ? Thank you in advance.
It's because in today time one million dollars in Singapore can't get you a landed or 5 room condo you need at least 2 millions to 5 millions to buy these types of private properties with ample space. One million can at most get you a tiny shoebox condo that's it. So people with one million are turning to HDB resale market to buy up all those 5 room and jumbo HDB flats with renovation already done and situated in good locations. That is why the government is trying to cool down the speculation in these aspects by prolonging resale waiting time and making it difficult to get bank loans.They have to do cooling measures otherwise the public HDB price will be screwed and pap will face a political crisis during elections. Property speculations have started and have largely been the game play on private properties and it isn't advisable to do the same thing on HDB as it will cause serious havoc on a far more larger number of people. But it is impossible to stop people from doing so by this stage anymore so they won't listen and fully co operate. In the meantime prices on smaller HDB flats are still more or less stable at the moment. The only thing you can do right now to protect yourselves and your descendants is to guard your land more closely and monitor the speculation activities closely at all times. Voting wisely to send out a clear message during elections also serve to help you out too. You don't do all these things the agents who want their cuts and all those rich people and pr will help themselves to what's available on the market until there is nothing left for you.
Is Singapore housing affordable...it is if you win the BTO lottery! Many of my expat friends are deciding to move back to HK because they find it cheaper there than here in Singapore. Have you seen the rent prices for Condo's and HDB's lately, it's crazy.
HK cheaper than Singapore??? Can tell me what kind of HK they living in whereby housing is magically cheaper there? U talking abt the small cage housing for low income?
@@johnwig285 Ha not caged houses. Typical condos in Singapore are going for >4k and my expat friends places' rents have gone up to over 6.5K (from 4K). That's about 36K HKD/month. They get a very nice 3-bedroom unit in Discovery Bay (the expat enclave). Just to let you know I know four families in the past six months that have left Singapore for HK, with house prices being the #1 reason they left.
for future gen it will be worst for middle and lower classes here unless today you are at the top of the pyramids earning $1m at least a year, then your next 2 gens will be quite secure.
Why do you think your earning power is stagnant? You got bad negative work attitude? Cannot switch job, retrain, compete, negotiate higher pay n bonus, achieve better output than others?
Social media breeds self entitlement. Those kpkb usually want 5rm bto near MRT in centraL area and you know their agenda....wana HUAT big big upon MOP lah whahahaha
Hi Kelvin thanks for the video! could u share about the pros and cons of SSB and Singapore Treasury bill, when to invest in which over the other? Thanks!
END OF THE DAY PUBLIC HOUSING IS A VERY SENITIVE ISSUE WHICH AFFECTS THE COMMON PEOPLE AND POLITICS just like CPF so the STATE will do whatever it take to control it and of course there will be those who will be SACRIFICED
Remember USA FED could increase interest rate to 10% or even 18%... Now better keep the saving. Cash is king for this 2 years. SG government going to follow the us rate?
I believe the recent cooling measures is the govt aims to curb the million dollar property. Hence the 15 month wait for HDB resale flat buyers. Previously private owners would sell their house, and purchase larger units (5 room). This pushes the many 5 room flat to the million dollar mark.
HDB is affordable especially after generous government grants. It is good for young couples starting out in life to own a HDB. Price/Income index of 4.5 is considered fantastic. It means that buyers' finances are not overstretched. The problem comes when people overextend their finances when buying their dream condo. This creates tremendous stress when they watch the banks increase interest rates every 3 months. It is not an enviable position - owning dream condo but having sleepless nights. Better to have peace of mind and buy condo only when finances allow for it.
I think it's more interesting to see how home space shrinks over the years and how they are still purported as "okay for a family to live in" because of "smaller family sizes" while still costing just as much 30 years ago relative to real income. You never know if they will decrease the lower limit of 4-room sqm and still say "Hey, it's just on the smaller side, but it's still a 4-room".
Housing issues are always going to be emotional..not least because it's a be ASIC need esp here in tiny S'pore where land is limited. This round of cooling measure just brings home the point that when people spoil market by overpaying, the rest of us have to suffer for it. Hence it's necessary to come in to wack those who have deep pockets. For the benefit of the middle/low income, public housing must remain so in terms of price and should not be worth a million dollars. Only then, the true definition of public housing, and the next generation 's future, can be preserved.
High property price is due to Singapore is becoming world class financial hub, high GDP and good governance. As a proud property owner, I would sell my property over a million for sure especially to non Singaporen. Why sell cheap if high in demand from all the rich people asking to sell my property to them? If you can sell high, just sell high, the market decide.
Hi Kelvin, can you make a video regarding AAPL stock including their future or whether it’s still worth investing in it or not since there are a few people saying that AAPL may be entering a earning recession. Would like you to give us some insights about it. Thanks
Aiya, these buyers that's willing to pay millions for HDB probably are the rich PRCs whose escaping from their CCP and die die also want to come Singapore become citizen and buy any dwelling no matter the price.
Singapore has to have affordable housing or else many Singaporean will lose the motivation to defend their ‘home’ and simply migrate to other countries to rent.
Jai Hinduja. As new HDB sales millionaires are being minted like chips, buying a HDB resale flat will take long long waiting for some. To be realistic, the Price/Income for HDB affordability, the incomes of 20 percents of ultrarich and ultrapoor must be removed from the general population.
Interesting to watch as a non Singaporean. One thing I can say is that for a global financial/commerce hub HDB property prices are definitely low. Low/Middle class struggles much more to pay for rent in London, HK or NY than in SG. One difference though is that in Europe or US people with low/medium income can choose to live in smaller cities / countryside to get better standard of living (even a landed property). Singaporeans do not really have this option.
hope singapore does not become like hong kong...
We do actually , living at extreme ends of Singapore, might be cheaper than central areas , though it might not be comparable with western culture in term of distance.
But Prices of flats do fluctuate between office areas to extreme ends
Hi. I'm jecky from Indonesia.
If you interested in property investment in indonesia, thus we can colaborate.
Have those trying to flip their HDB thought about the next generation? If this continues, our children might no longer able to afford their own house. It will be like other countries, where the parents have to fork out money for their children to have a shelter over their head soon. Similarly, when the prices reach a level where the children can't afford, those '躺平’ and '摆烂' trend/mentality will eventually reach our shore.. Why need to work hard, since they could never afford a house in their lifetime?
As a parent, this gotten me worry. Now I need to start saving and worry for my children's home too.
Whether one likes it or not, generational wealth is important for future generations. No govt resets it's economy every decade or century. Then why would any family let its future generations start from scratch fighting inflation and more obstacles in life.
@@CometFire2010 I would have agree with you if the lease of HDB is not 99years.
And the intent of HDB was never as an investment, but affordable housing for Singaporeans. I'm very proud that any Singaporeans who just step into society, worked afew years can afford to apply a house with their partner and start planning for their future. Be it the past or now. But that wouldnt apply to the future already.
Given how the prices soars now, we are expecting the price of HDB for our children to be at 1-2 mil? How many families can afford, how many young adults without the help from their family can afford to buy a hdb? This is what worries me the most.
Your references is incorrect if you are comparing to overseas housing. HDB is 99 years while overseas are mostly private and freehold. And the further you stay in city the cheaper the home is for overseas housing, too. Whereas in singapore it doesn’t really matter as the price differences is not big enough except for that handful towns….
Actually young couple can go for a smaller flat 1st.
I applied for 4rm after 5 years, I applied another BTO for 3Gen unit. Now I moved to my 3G fully paid flat & no more worry of housing loan.
The problem is some young adult singaporeans like to kpkb, complain and blame govt. People never admit their entitlement and arrogant mindset. And some singaporeans have lifestyle spending habits outsized to their actual talents and work skills abilities.
@@scbchong6964 yes. That why I guide my children by living a example way. No need car don't buy. Save the money & invest.
But once awhile we will go restaurant for meal for celebration. Simple life but still need rewards ourselves.
@@linekerkb same here. Got a 3 room bto.. and debt free..
Thanks Kelvin! This is interesting content presented in a concise manner . Appreciate the little advice at the end of the vid too ! 🙏
BTO, resale HDB and EC comes with many constraints, pre-requisite and rules, you must meet all of them, so its not apple to apple comparison.
Hi Kelvin, can you please make a video on USD -SGD exchange rate ? I’ve seen some people said they gained on USD recently as the USD is so strong. I am worried if i exchange my SGD to USD to buy US stocks, what if in 10 years time the exchange rate drops alot ? Thank you in advance.
Thanks for sharing, but I’m not sure how you count the rate for the mortgage. Do you have link of the formula to share?
Is really crazy some freehold condo or landed property can be 1 mill to 20mill. Dun forget about Nassim road property.
It's because in today time one million dollars in Singapore can't get you a landed or 5 room condo you need at least 2 millions to 5 millions to buy these types of private properties with ample space. One million can at most get you a tiny shoebox condo that's it. So people with one million are turning to HDB resale market to buy up all those 5 room and jumbo HDB flats with renovation already done and situated in good locations. That is why the government is trying to cool down the speculation in these aspects by prolonging resale waiting time and making it difficult to get bank loans.They have to do cooling measures otherwise the public HDB price will be screwed and pap will face a political crisis during elections.
Property speculations have started and have largely been the game play on private properties and it isn't advisable to do the same thing on HDB as it will cause serious havoc on a far more larger number of people. But it is impossible to stop people from doing so by this stage anymore so they won't listen and fully co operate. In the meantime prices on smaller HDB flats are still more or less stable at the moment. The only thing you can do right now to protect yourselves and your descendants is to guard your land more closely and monitor the speculation activities closely at all times. Voting wisely to send out a clear message during elections also serve to help you out too. You don't do all these things the agents who want their cuts and all those rich people and pr will help themselves to what's available on the market until there is nothing left for you.
Is Singapore housing affordable...it is if you win the BTO lottery! Many of my expat friends are deciding to move back to HK because they find it cheaper there than here in Singapore. Have you seen the rent prices for Condo's and HDB's lately, it's crazy.
HK cheaper than Singapore??? Can tell me what kind of HK they living in whereby housing is magically cheaper there? U talking abt the small cage housing for low income?
@@johnwig285 Ha not caged houses. Typical condos in Singapore are going for >4k and my expat friends places' rents have gone up to over 6.5K (from 4K). That's about 36K HKD/month. They get a very nice 3-bedroom unit in Discovery Bay (the expat enclave). Just to let you know I know four families in the past six months that have left Singapore for HK, with house prices being the #1 reason they left.
for future gen it will be worst for middle and lower classes here unless today you are at the top of the pyramids earning $1m at least a year, then your next 2 gens will be quite secure.
Why do you think your earning power is stagnant? You got bad negative work attitude? Cannot switch job, retrain, compete, negotiate higher pay n bonus, achieve better output than others?
cos of ppls like you!!!
@@scbchong6964 why you so defensive lol. People are staying their opinion lol
Actually the video title is missing one very important keyword... coz it's not just any housing, but PUBLIC housing
I got a 3 room flat.. no worries at all. How are housing unaffordable if you get a BTO within your means?
Social media breeds self entitlement. Those kpkb usually want 5rm bto near MRT in centraL area and you know their agenda....wana HUAT big big upon MOP lah whahahaha
resale or bto? bto u win..
Hi Kelvin thanks for the video! could u share about the pros and cons of SSB and Singapore Treasury bill, when to invest in which over the other? Thanks!
END OF THE DAY PUBLIC HOUSING IS A VERY SENITIVE ISSUE WHICH AFFECTS THE COMMON PEOPLE AND POLITICS just like CPF so the STATE will do whatever it take to control it and of course there will be those who will be SACRIFICED
Remember USA FED could increase interest rate to 10% or even 18%... Now better keep the saving. Cash is king for this 2 years. SG government going to follow the us rate?
Where to get those charts u post. Like MRT map with prices, etc
Just wonder one million dollar sgd what kind of house can I buy in Malaysia.
Hi Kelvin, very interesting video you have made but how about those peoples that bought landed property over at jb & have hdb at the same time.. 😀
I believe the recent cooling measures is the govt aims to curb the million dollar property. Hence the 15 month wait for HDB resale flat buyers. Previously private owners would sell their house, and purchase larger units (5 room). This pushes the many 5 room flat to the million dollar mark.
Hi. Kevin
What is the brand of your microphone , please? :)
Price-to-income ratio is compared REGARDLESS of leasehold or freehold.
Use new price direct from HDB. Resale is not accurate
Yup absolutely affordable. But you have limited choices of where to live, ie you cannot choose districts with better amenities.
Thank you for sharing 🙏
Very good reminder at the end :)
We are not looking at condo. We are looking at normal 4-room housing
Hi Kevin, do you have the link to the article and reddit comment you referenced? Thanks.
Describing woodlands as Johor is a great joke insert.
HDB is affordable especially after generous government grants. It is good for young couples starting out in life to own a HDB. Price/Income index of 4.5 is considered fantastic. It means that buyers' finances are not overstretched. The problem comes when people overextend their finances when buying their dream condo. This creates tremendous stress when they watch the banks increase interest rates every 3 months. It is not an enviable position - owning dream condo but having sleepless nights. Better to have peace of mind and buy condo only when finances allow for it.
I think it's more interesting to see how home space shrinks over the years and how they are still purported as "okay for a family to live in" because of "smaller family sizes" while still costing just as much 30 years ago relative to real income.
You never know if they will decrease the lower limit of 4-room sqm and still say "Hey, it's just on the smaller side, but it's still a 4-room".
They definitely will 😢
pte housing is for the top 20% income earners
Housing issues are always going to be emotional..not least because it's a be ASIC need esp here in tiny S'pore where land is limited. This round of cooling measure just brings home the point that when people spoil market by overpaying, the rest of us have to suffer for it. Hence it's necessary to come in to wack those who have deep pockets. For the benefit of the middle/low income, public housing must remain so in terms of price and should not be worth a million dollars. Only then, the true definition of public housing, and the next generation 's future, can be preserved.
The same Singaporeans who KPKB abt HDB prices are the same ones who would want to maximize profits when they sell their flats 🥱 It's a cycle.
Not only unaffordable , the flooring also not quality made by HDB
Good advice.....I really like this video
Need something that is freehold. As warren buffet said our holding period is forever.
Once reaches HK level , PAP in trouble!
Good video as usual
High property price is due to Singapore is becoming world class financial hub, high GDP and good governance. As a proud property owner, I would sell my property over a million for sure especially to non Singaporen. Why sell cheap if high in demand from all the rich people asking to sell my property to them? If you can sell high, just sell high, the market decide.
not everyone can afford hdb even if they worked till old.
Can u share a video for foreigner interested to buy property in singapore
One problem is waiting time is just too long
There's also a limit on how much energy we can spend on spending the money too. 😁
you fixed the thumbnail :)
Resales are sold to FT.. they have cash
Too late for government to countermeasure..Pls vote wisely.
I think affordability is a matter of choice. If no money eat abalone or sharkfin, then eat cai peng loh.
I don’t see hdb as a source of investment. Just a way to put a roof over my head
Hi Kelvin, can you make a video regarding AAPL stock including their future or whether it’s still worth investing in it or not since there are a few people saying that AAPL may be entering a earning recession. Would like you to give us some insights about it. Thanks
Aiya, these buyers that's willing to pay millions for HDB probably are the rich PRCs whose escaping from their CCP and die die also want to come Singapore become citizen and buy any dwelling no matter the price.
Apt conclusion.
Singapore has to have affordable housing or else many Singaporean will lose the motivation to defend their ‘home’ and simply migrate to other countries to rent.
Finally we will own nothing and be happy
Hi Kelvin, there's quite a number of scammers impersonating you lurking among the comments. Please do block them so people won't fall for them.
Creepy to think about it
25 yr loan? Shack!
Jai Hinduja. As new HDB sales millionaires are being minted like chips, buying a HDB resale flat will take long long waiting for some. To be realistic, the Price/Income for HDB affordability, the incomes of 20 percents of ultrarich and ultrapoor must be removed from the general population.
Obviously the joker have not been to HK. If so, he will be sleeping on the streets or in some overhead bridge!😆😆😆😆
Good morning
World economic forum motto : you will own nothing and be happy
"Maybe the food in the west is better?"
Are you trying to start a civil war?
funny guy
Unaffordable. Period.
Mr Loo stay in EM …