Shocking Revelation on HDB Resale Price

[makapaaa]

http://www.h88.com.sg/article/Resale+HDB+prices+increased+by+38+percent;+40+percent+of+buyers+PR/

Resale HDB prices increased by 38 percent; 40 percent of buyers PR

Resale HDB prices increased by 38 percent; 40 percent of buyers PR

Prices of resale HDB flats have shot up 38% over the past three-and-a-half years according to Eugene Lim, associate director, ERA Asia-Pacific. But what's shocking is that 40% of buyers are made up of Permanent Residents according to recent ERA's resale transactions.
"The government's target population of 6.5 million is steadily increasing the pool of PRs; and they have to buy their HDB homes from the resale market as they do not qualify to buy new flats directly from HDB. ERA's resale transactions show that PR buyers make up some 40 per cent compared to 20 per cent three years ago." - Eugene Lim, assosiate director, ERA Asia-Pacific.

It is widely known that prices have risen over the past few years and that we had a large influx of new residents. But when you see these such statistics side by side, it begs to question why weren't countermeasures put into place earlier considering this happened over a sustained period of three-and-a-half years?

Another statistic we found interesting in the report was how 86% of ERA's HDB recent resale transactions were concluded with Cash-Over-Valuation (COV). This number seems to come into conflict with what Mr Mah Bow Tan said recently about a third of HDB resale transactions done at or below valuation.

We would appreciate your comments here.

The report by Eugene Lim, associate director, ERA Asia-Pacific can be found here via The Business Times.

 

[Survivor]

Is government playing with fire in their FT policy?

PR cannot vote.

Citizen will vote.

Happy citizens will vote with their brains.

Angry citizens will vote with anger.

 

[scroobal]

You are living under an illusion. A PR can get citizenship within 2 and they will make exceptions for less than 2 years but more than 1 year. Converts whether in religion or in politics tend to be overzealous and will certainly vote for PAP. They have little understanding of singapore political history.

Since the press does not provide sufficient coverage for opposition, it s goner.

To a PRC and Indian from India, law, order and fast processing for utilities are god sent, They think this is heaven. Democracy, freedom are basically meaningless especially for the Pinoys.

Is government playing with fire in their FT policy?

PR cannot vote.

Citizen will vote.

Happy citizens will vote with their brains.

Angry citizens will vote with anger.

 

[MarrickG]

With the recent annoucement by Pinkie that they will start controlling the influx of FTs, I suppose the HDB prices should start going down by the next 6 months?

 

[makapaaa]

With the recent annoucement by Pinkie that they will start controlling the influx of FTs, I suppose the HDB prices should start going down by the next 6 months?

Only cock heads will buy his crap. Ass Loon is an incorrigible LIAR!

 

[johnny333]

Converts whether in religion or in politics tend to be overzealous and will certainly vote for PAP. They have little understanding of singapore political history.

Don't underestimate the foreigners understanding of the Spore system

They are from the 3rd world where corruption is normal, so living in Spore where we have leegitimise corruption is no big deal. I was talking to an Indo & according to him corruption is "manageable" in Spore .

If Sporeans who were born here are leaving you can bet that many of these "new" Sporeans will eventually follow the same route. Its unfortunate that Spore has become more of a short-time hotel than a nation

 

[scroobal]

Have to disagree. Why would anyone take up citizenship, if they have not been suckered in the first place. This govt is not going to give citizenship, if these guys are going to vote them out. The PAP is authoritarian but not dumb.

You are talking about those who are long time employment pass holders who refuse to take up citizenship or PR. Foreigners planning to migrate to 1st would not take up citizenship as it will jeopardise their move there. They will be employment pass holders.

When you comment, there must be a thread of logic present however thin it may be.

Don't underestimate the foreigners understanding of the Spore system

They are from the 3rd world where corruption is normal, so living in Spore where we have leegitimise corruption is no big deal. I was talking to an Indo & according to him corruption is "manageable" in Spore .

If Sporeans who were born here are leaving you can bet that many of these "new" Sporeans will eventually follow the same route. Its unfortunate that Spore has become more of a short-time hotel than a nation

 

[WayangPartyClub]

With the recent annoucement by Pinkie that they will start controlling the influx of FTs, I suppose the HDB prices should start going down by the next 6 months?

And you actually believe him? Ha!

 

[Hock]

Now 4.8 million, target 6.5 million; i.e. 35% increase. The same for HDB prices; up by another 35%.

 

[johnny333]

Have to disagree. Why would anyone take up citizenship, if they have not been suckered in the first place. This govt is not going to give citizenship, if these guys are going to vote them out. The PAP is authoritarian but not dumb. ......

Easy come, easy go lah.

I bet some of the foreigners take up Spore citizenship out of convenience. Who says they have to give up their original citizenship

As a Sporean they don't have the liabilities such as NS, So why not?

They can still return to China or where ever ,whenever convenient. No one in China would care if they were ex-Sporeans

The problem with these new citizens is that they could care less what happens to Spore.

 

[scroobal]

ICA requires you to renouce your citizenship before they convert your conditional offer of singapore citizenship before granting the formal citizenship. You have to provide proof of renunciation.

PRC, Australia and some countries allow one chance of regaining of their citizenship if they wish to go back. The issue is when a PRC chap wants to go to OZ, US but has already taken up Singapore citizenship. Though some of these countries allow dual or more citizenship, I bet they don't look favourably to jackrabbits jumping from hole to hole.

Only dumb and less worldly FT will take up singapore citizenship. There are exceptions of course. I understand that FT nurses seldom take up citizenship here as they are wanted in the 1st world country. Canada is a good example. They will offer migrant status to nurses and maids if they have worked in singapore first. No hope if they worked in their own countries and hope to move directly to Canada.

Easy come, easy go lah.

I bet some of the foreigners take up Spore citizenship out of convenience. Who says they have to give up their original citizenship

As a Sporean they don't have the liabilities such as NS, So why not?

They can still return to China or where ever ,whenever convenient. No one in China would care if they were ex-Sporeans

The problem with these new citizens is that they could care less what happens to Spore.

 

[johnny333]

ICA requires you to renouce your citizenship before they convert your conditional offer of singapore citizenship before granting the formal citizenship. You have to provide proof of renunciation.

....
....

I'm sure many migrants know the law but how many really care if they can get away with it

As for ICA vetting all potential citizens. We all know about Spores open door policy & I would be surprise if anyone at ICA bothers to check if these new citizens have renounced their citizenship. Doubt they have the $$$ & manpower for doing such checks. This is after all Spore Inc where the motive is profit & less to do about due diligence :(

As for China, it has billions of people & I don't think anyone cares what their citizens do as long as it doesn't threaten China's security.

 

[scroobal]

You have to furnish official letter.

I'm sure many migrants know the law but how many really care if they can get away with it

As for ICA vetting all potential citizens. We all know about Spores open door policy & I would be surprise if anyone at ICA bothers to check if these new citizens have renounced their citizenship. Doubt they have the $$$ & manpower for doing such checks. This is after all Spore Inc where the motive is profit & less to do about due diligence :(

As for China, it has billions of people & I don't think anyone cares what their citizens do as long as it doesn't threaten China's security.

 

[po2wq]

... Prices of resale HDB flats have shot up 38% over the past three-and-a-half years according to Eugene Lim, associate director, ERA Asia-Pacific. But what's shocking is that 40% of buyers are made up of Permanent Residents according to recent ERA's resale transactions. ...

gahmen now die-die oso can nt let pr's leave ...

 

[johnny333]

gahmen now die-die oso can nt let pr's leave ...

They can leave but money must stay as well as sons