TR: Singaporeans need at least 36.4 years to afford a roof over their heads

[hitower]

Temasek Review Latest News

According to a Chinese Finance magazine, Singaporeans need to slog the longest to afford a 70 square meter condominium in their own countries. (read article here)

Berliners need only work 3 years to pay off the housing loan while Singaporeans need to work a shocking 36.4 years in order to do so.

In Asia, Thais need only work the shortest period of time to buy a similar-sized condominium. Though the wages of Thai workers are relatively low compared to Singapore, their properties are much cheaper which explain the discrepancy.

While Japan is the most expensive country in Asia to live in, the average Japanese need only work 16 years to purchase such a condominium, 20 years less than Singapore.

The authoritative article was not published by the state media which continues to churn out propaganda daily to support the PAP’s lop-sided housing policies in favor of foreigners.

The results should come as no surprise. A UBS report published last year revealed that Singaporeans have the lowest wages and domestic purchasing power among developed nations.

After Hong Kong, Singapore has the largest income gap between the rich and the poor among the thirty most advanced world economies.

The median salary of the average Singapore worker has remained stagnant at $2,400 monthly while the cost of living, especially that of housing has sky-rocketed in recent years.

The low wages of the Singapore worker is contributed partly by the PAP pro-foreigner and ultra liberal-immigration policies which have seen the country being flooded by foreign workers.

A Wall Street Journal article in January this year wrote that the relentless influx of foreigners has depressed the wages of ordinary Singaporeans, increased the cost of living and led to an overall decline in the standards of living.

It will be interesting to know the number of years an average Singapore worker needs to work to afford a similar-sized HDB flat. Based on current prices, it is unlikely to be less than 30 years.

http://www.temasekreview.com/2010/0...36-4-years-to-afford-a-roof-over-their-heads/

 

[Relako]

Temasek Review Latest News

According to a Chinese Finance magazine, Singaporeans need to slog the longest to afford a 70 square meter condominium in their own countries. (read article here)

Berliners need only work 3 years to pay off the housing loan while Singaporeans need to work a shocking 36.4 years in order to do so.

In Asia, Thais need only work the shortest period of time to buy a similar-sized condominium. Though the wages of Thai workers are relatively low compared to Singapore, their properties are much cheaper which explain the discrepancy.

While Japan is the most expensive country in Asia to live in, the average Japanese need only work 16 years to purchase such a condominium, 20 years less than Singapore.

The authoritative article was not published by the state media which continues to churn out propaganda daily to support the PAP’s lop-sided housing policies in favor of foreigners.

The results should come as no surprise. A UBS report published last year revealed that Singaporeans have the lowest wages and domestic purchasing power among developed nations.

After Hong Kong, Singapore has the largest income gap between the rich and the poor among the thirty most advanced world economies.

The median salary of the average Singapore worker has remained stagnant at $2,400 monthly while the cost of living, especially that of housing has sky-rocketed in recent years.

The low wages of the Singapore worker is contributed partly by the PAP pro-foreigner and ultra liberal-immigration policies which have seen the country being flooded by foreign workers.

A Wall Street Journal article in January this year wrote that the relentless influx of foreigners has depressed the wages of ordinary Singaporeans, increased the cost of living and led to an overall decline in the standards of living.

It will be interesting to know the number of years an average Singapore worker needs to work to afford a similar-sized HDB flat. Based on current prices, it is unlikely to be less than 30 years.

http://www.temasekreview.com/2010/0...36-4-years-to-afford-a-roof-over-their-heads/

What a load of bullshit !

It is a well-known fact that in Japan, many apartments are paid over 2 generations.

Meaning to say, the parents' mortgages are taken over by their children, who continue to pay for the loan of the apartment !

 

[Char_Azn]

What a load of bullshit !

It is a well-known fact that in Japan, many apartments are paid over 2 generations.

Meaning to say, the parents' mortgages are taken over by their children, who continue to pay for the loan of the apartment !

Quite true. I was just talking to my Japanese colleagues when I was there last month, most of them can't afford housing, the vast majority of them have to rent. Unless you are talking about buying a house in rural Japan or taking 3 hr train rides to work everyday, most of the city dwellers can't really afford to buy houses

 

[Glaringly]

Quite true. I was just talking to my Japanese colleagues when I was there last month, most of them can't afford housing, the vast majority of them have to rent. Unless you are talking about buying a house in rural Japan or taking 3 hr train rides to work everyday, most of the city dwellers can't really afford to buy houses

Which ulu corner in Japan is your friend staying?

3 hours train ride from Tokyo, you can reach Osaka. And please don't compare a city state with a proper country, because in Singapore you don't have a choice.

 

[Char_Azn]

Which ulu corner in Japan is your friend staying?

3 hours train ride from Tokyo, you can reach Osaka. And please don't compare a city state with a proper country, because in Singapore you don't have a choice.

I was at the Tokyo office. And 3 hours to Osaka is by Shinkansen!!!!! If you stay at the Suburbs it can easily take close to 2hrs to get to work!!!! In Japan they actually have business hotels where office workers stay if they work late at night coz it takes too long to get home. Cabs are too freaking expensive if U are wondering why no one takes cab. Hope on fee for cab is about 700yen

And just to give U an idea of how much money we are talking about in Japan, a small apartment(slightly smaller then a 3 room flat) in e.g. Hanzonmon which is where my office is will set you back USD$1.5million.

 

[Glaringly]

I was at the Tokyo office. And 3 hours to Osaka is by Shinkansen!!!!! If you stay at the Suburbs it can easily take close to 2hrs to get to work!!!! In Japan they actually have business hotels where office workers stay if they work too late at night

Define suburbs?

Bullet train can easily travel in excess of 300 km/h, which is 7 times the length of Singapore in an hour. So easily any part of Johore is within an hour reach.

 

[Alamaking]

TR? I rather read Perez Hilton website than go to TR, 0 credibilities, :p:p:p

 

[Char_Azn]

Define suburbs?

Bullet train can easily travel in excess of 300 km/h, which is 7 times the length of Singapore in an hour. So easily any part of Johore is within an hour reach.

Bullet trains are also VERY EXPENSIVE. a trip to Osaka/Kyoto from tokyo will cost U around SGD$200, 1 way. Most pple take normal trains that doesnt travel at 300km/h. They travel at about the same freaking speed as our MRT, probably slightly faster. They only take Shinkansen when they want to travel to another city. And BTW FYI it takes freaking close to an hour just to get from Narita Airport to Tokyo Station via train. The Japanese don't use the Bullet train for every freaking line

 

[singveld]

Berliners need only work 3 years to pay off the housing loan while Singaporeans need to work a shocking 36.4 years in order

Wow, i am not so sure about this, i am not you sure you want to live in those apartment in berlin which take 3 years to pay off.

 

[Glaringly]

Bullet trains are also VERY EXPENSIVE. a trip to Osaka/Kyoto from tokyo will cost U around SGD$200, 1 way. Most pple take normal trains that doesnt travel at 300km/h. They travel at about the same freaking speed as our MRT, probably slightly faster. They only take Shinkansen when they want to travel to another city. And BTW FYI it takes freaking close to an hour just to get from Narita Airport to Tokyo Station via train. The Japanese don't use the Bullet train for every freaking line

Japan rail pass, can be bought for less then $200 a month and can travel in different classes of train.

Nah, there are different speed and almost all are faster then our MRT. And in most major cities, there are non-stop train services, so they don't have to stop at every bloody station like in Singapore.

What I am saying is, you can easily travel to the suburb in less then an hour, which probably take the same time as those living in SengKang for example, and it definitely cover the distance in excess of 100 km.

 

[Char_Azn]

Japan rail pass, can be bought for less then $200 a month and can travel in different classes of train.

Nah, there are different speed and almost all are faster then our MRT. And in most major cities, there are non-stop train services, so they don't have to stop at every bloody station like in Singapore.

What I am saying is, you can easily travel to the suburb in less then an hour, which probably take the same time as those living in SengKang for example, and it definitely cover the distance in excess of 100 km.

The Japanese CANNOT buy JR Pass. That's a Tourist pass.

And non-stop trains usually comes in 1/2hr or 1hr intervals. For trains outside of Tokyo city proper(usually the JR lines) there is usually a 10-15min wait.

If u live in e.g. Mitaka, it probably takes U 30-40mins to get there on the express train from Tokyo Station but U forgot to factor in a number of stuff.

1. Travel from Office to Nearest Metro station
2. Metro station -> JR Stations(the wait at metro station is neg. its about the same as here 3min or so)
3. Waiting for the train at JR stations(10 min)
4. Train from JR Station to station nearest to home
5. Time needed to travel from JR Station -> home

U add that all up, its easily going to pass the 1hr mark

 

[Char_Azn]

Wow, i am not so sure about this, i am not you sure you want to live in those apartment in berlin which take 3 years to pay off.

Good point. Assuming the article is true(i seriously doubt since its from TR, the same TR which believed the BS about LKY dying), it does makes me wonder. If the German houses are really so cheap, how come the home ownership rate in Germany(42%) is so low compared to SG(89%) which is suppose to be so expensive(comparatively speaking)

http://en.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate

 

[SIFU]

Good point. Assuming the article is true(i seriously doubt since its from TR, the same TR which believed the BS about LKY dying), it does makes me wonder. If the German houses are really so cheap, how come the home ownership rate in Germany(42%) is so low compared to SG(89%) which is suppose to be so expensive(comparatively speaking)

http://en.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate

today your colleague c888 kena banned, so u gotta cover his duties is it? or are u the same guy

 

[singveld]

Japan rail pass, can be bought for less then $200 a month and can travel in different classes of train.
QUOTE]

japan rail pass $200 per month? i find it hard to believe.

 

[Glaringly]

And non-stop trains usually comes in 1/2hr or 1hr intervals. For trains outside of Tokyo city proper(usually the JR lines) there is usually a 10-15min wait.

The figure quoted is about Japan, not Tokyo. So, not going to suck in into an irrelevant loop. I am pretty sure that in Japan, you have the choice to live in pretty comfort at way below the cost of living here.

 

[Glaringly]

Japan rail pass, can be bought for less then $200 a month and can travel in different classes of train.
QUOTE]

japan rail pass $200 per month? i find it hard to believe.

Quoted off my head. But have lived in an European country where I can get a monthly transport pass ( rail and buses ) for less then S$100.

I am quite sure there is some kind of passes ( perhaps not the tourist pass ) in Japan.

 

[singveld]

Quoted off my head. But have lived in an European country where I can get a monthly transport pass ( rail and buses ) for less then S$100.

may i know which european city, because this is also news to me. A single trip in european bus can cost 4 to 5 times more than singapore. Are you some sort of student or asylum seeker?

It is very hard to quote figure off the head. Different cities have different city council which have different transport policy.

 

[Glaringly]

may i know which european city, because this is also news to me. A single trip in european bus can cost 4 to 5 times more than singapore. Are you some sort of student or asylum seeker?

It is very hard to quote figure off the head. Different cities have different city council which have different transport policy.

Don't believe in all those crap you read on state times.

Definately, a country that enjoys "swiss standard of living", but not England. I have it for couple of years, full price, not student ok.

 

[singveld]

Definately, a country that enjoys "swiss standard of living", but not England. I have it for couple of years, full price, not student ok.

yeah can you tell me the name of the england city.

i hope you are not going to code me some ulu city in the middle of nowhere, where the only people are robin hood and his merry men and tights.

 

[Glaringly]

yeah can you tell me the name of the england city.

i hope you are not going to code me some ulu city in the middle of nowhere, where the only people are robin hood and his merry men and tights.

Can't you read. Already said, not England and it's a capital city. If you are curious why don't you do the leg work yourself and start with Austria westward.

I have nothing to prove to you or anyone.