Why 70s HDB only need 25 months pay, now HDB needs 136 months pay?

[theDoors]

No-frills housing please, say some MPs - Channel NewsAsia

When he first raised this in Parliament on Friday, Dr Lim gave the example of flat prices in the 1970s: S$15,000 and S$20,000 for a three-room and four-room flat respectively. A graduate with a starting salary of S$1,000 could pay off his apartment with 15 to 25 months of his pay, he said.

But today, though their starting salaries are three to five times higher, the prices of new flats have shot up “10 to 30 times”, he added.

“A high cost of housing has many repercussions as it results in higher costs of living, reduction of resources for other pursuits such as education and investment,” he said.

HDB prices in 1993

4 room $70,000
5 room $110,000
EM $160,000

starting pay for poly $1300 ($70000/1300= 54 months) to pay 4 rm
starting pay for degree $2400 ($11000/2400= 46 months) to pay 5 rm
CPF contribution 40%, capped at $6000


HDB prices in 2003

4 room $120,000
5 room $190,000
EA $280,000

starting pay for poly $1400 ($120,000/1400= 86 months) to pay 4 rm
starting pay for degree $2500 ($190,000/2500=76 months) to pay 5 rm
CPF contribution 33% capped at $5500 progressively reduced each year to $4500


HDB prices in 2013

4 room $285,000
5 room $380,000
EC $2,000,000

starting pay for poly $1600 ($285,000/1600=178 months) to pay 4 rm
starting pay for degree $2800 ($380,000/2800=136 months) to pay 5 rm
CPF contribution 36% capped at $5000 restoration from the low of $4500

 

[GOD IS MY DOG]

aiyah...........S'pore just independent mah so PAP need to maintain popularity...............

also last time the cows not so fat................so PAP know cannot squeeze so much milk..............

now cows fatter..............so PAP squeeze more lor..............

some more cows no guts to resist so squeeze harder lor..................

one day, squeeze until cows all mati..................and turn them into steaks mah...........

 

[zhihau]

HDB prices in...

bro,
we all feel the sharp rising costs of living... :(:(:(

 

[borom]

Answer is simple-TOO MANY FOREIGNERS.

Reduce the number of foreigners esp immigrants and PMET's and housing, transport and health and educational(lack of places) problems will be resolved.
Fastest way is to remove the party causing the problem-kick them out in the next election.

 

[tanwahtiu]

on the other side of the coin -selling your property

Buy in 2013 @ $500,000 double in 10 yrs 2023 @$1,000,000, profit = $500,000 = 10 years risk

Buy in 2023 @ $1,000,000 double in 10 yrs 2042 @$2,000,000, profit = $1,000,000 = also same 10 yr risk.

Or use BTGOF - Buy 2 today get 1 free in 2023. Contra. One fully pay off in 10 yrs/ 120 months. = also 10 yr risk


Anyway, what is the 2nd most used element after water? Concrete.

From 2023-2050 more residential buildings are build which overtake human population growth. By that time your grandchildren can move into any empty units for free. Plenty of dumping like in US Detriot city today.

HDB prices in 1993

4 room $70,000
5 room $110,000
EM $160,000

starting pay for poly $1300 ($70000/1300= 54 months) to pay 4 rm
starting pay for degree $2400 ($11000/2400= 46 months) to pay 5 rm
CPF contribution 40%, capped at $6000


HDB prices in 2003

4 room $120,000
5 room $190,000
EA $280,000

starting pay for poly $1400 ($120,000/1400= 86 months) to pay 4 rm
starting pay for degree $2500 ($190,000/2500=76 months) to pay 5 rm
CPF contribution 33% capped at $5500 progressively reduced each year to $4500


HDB prices in 2013

4 room $285,000
5 room $380,000
EC $2,000,000

starting pay for poly $1600 ($285,000/1600=178 months) to pay 4 rm
starting pay for degree $2800 ($380,000/2800=136 months) to pay 5 rm
CPF contribution 36% capped at $5000 restoration from the low of $4500

 

[cunnilaubu]

By the early 1990s, Singkies are no longer interested in 3rm flats. HDB has stopped building them.
The entry level was 4rm. A lot of families were buying 5rms, which cost only about 100K.

Now, HDB is encouraging young couples to buy 2rms. A studio apartment with 30-yr lease can cost around 70K.

Swiss standard? Moving forward? Better life than our parents?
A whole load of bulls.

We are moving backwards. In Hokkien saying - 倒退嚕!