154th: Some Housing Board home owners sitting on a goldmine

[makapaaa]

After selling the 'goldmine', go buy another more expensive 'diamond mine'? Or cash out and emigrate?

[h=1]Some Housing Board home owners sitting on a goldmine[/h][h=2]HDB units bought in 2007 can fetch more than double the purchase price[/h]
Published on May 26, 2012

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<!--close .storyLeft--><!--start of story image, if any--> QUEENSTOWN ESTIMATED PROFIT: $420,000 The HDB says that flats whose minimum occupancy period could be fulfilled this year include those in mature estates such as Queenstown (above), and non-mature estates such as Punggol. -- PHOTOS: RAJ NADARAJAN, TNP FILE

<!--end of story image, if any--><!-- storyAds:start --><!-- Copyright DoubleClick Inc., All rights reserved. --><!-- This code was autogenerated @ Thu Mar 22 08:51:32 EDT 2012 --><NOSCRIPT></NOSCRIPT>
<!-- storyAds:end -->By Daryl Chin
<!--start of story text-->Some lucky Housing Board home owners, whose flats are entering the resale market this year, are looking at more than double the price they paid for the units.
Property analysts say such high asset appreciation, attributable to good timing and a buoyant resale market, is one that is unlikely to be repeated in a long time.
These flat owners, who had the keys handed to them in 2007, would have fulfilled the minimum occupancy period (MOP) of five years this year.
<!--close .relatedLinks, if any-->[h=5]Background story[/h]STRIKING LOTTERY
It's like striking a lottery... These buyers came in at the right time before the property boom when prices started inching upwards.
- SLP International head of research Nicholas Mak


<!--close .background story, if any-->
<!--close .storyExtras-->'Back then, HDB prices were in the doldrums because of Sars (severe acute respiratory syndrome) and the Asian financial crisis,' said PropNex chief executive Mohamed Ismail, who linked the windfall they could enjoy to the surge in resale flat prices in recent years

 

[johnny333]

I don't think it applies to that old dinosaur living at Oxley Road. Where he is going should be rent free

 

[zhihau]

Some Housing Board home owners sitting on a goldmine

sell high, buy high... what profit?

 

[Raiders]

Its true. I have an old auntie spinster colleague who bought her BTO ponggol 4 room flat with her sister back then. She is busy marketing her flat now and is sitting on at least a 300k profit.

 

[zhihau]

Its true. I have an old auntie spinster colleague who bought her BTO ponggol 4 room flat with her sister back then. She is busy marketing her flat now and is sitting on at least a 300k profit.

bro,
what's the selling price of punggol 4 room now? 400K? she's buying the new BTO 2 room 100K flat ah?

 

[QXD]

I know of a young SG couple who bought their HDB and husband got transferred to China to work after 5 years.

The rental they fetch from their HDB is easily 4 times their monthly payments.

Coupled with their accumulated CPF to pay off the HDB loan, they are practically cashing out their CPF every month!

 

[Brightkid]

I don't think it applies to that old dinosaur living at Oxley Road. Where he is going should be rent free

This person's family is sitting on a diamond mine. Imagine when they decide to sell the land the house is sitting on and the new plot ratio ? The surrounding estate's prices are being pressed down by him by way of plot ratio and height restrictions!

 

[Raiders]

bro,
what's the selling price of punggol 4 room now? 400K? she's buying the new BTO 2 room 100K flat ah?

420K. Shes moving into her brother's house. Thats why I say 300k profit. But I understand your point brother. For alot of us, even if we sell high, we also have to buy high. Thats why my wife told me, better have 1 child only, then leave the house to the child next time.

 

[laksaboy]

Goldmine? Or landmine of speculation?

Whatever happened to 'affordable public housing for the masses'?

And why are the Braddell presstitutes sounding like property agents now?

 

[ArjanParangToh]

Arjan me feel soooooo impressed...wow wow wow wow...

 

[Devil Within]

Goldmine? More like a death trap. When it collapse, it'll bury you alive.

 

[hotbot]

some pple are just so lucky...

 

[hairylee]

Goldmine, Diamond mine or landmine.
Whatever it is I am not going to sell mine.
154th is just screwing peasants mind

 

[zeddy]

Those Bradell Rd cunts really clever of masturbating the minds of daft Sinkies..

The only ones who will be the rich are the Ah Nehs owning resale flats.. In few years time they would be living in big bungalows back in their native India after selling their resale flats and renouncing their PRs..

These Ah Nehs will be sipping hot tea and enjoying their freshly made Chappatis at the garden of their bungalows while Sinkees back in Sinkie land will still be slogging hard like buffalos to pay their monthly HDB loans..

 

[zhihau]

420K. Shes moving into her brother's house. Thats why I say 300k

Punggol 4 room got 120K in the past? when was that bro?

 

[Fook Seng]

420K. Shes moving into her brother's house. Thats why I say 300k profit. But I understand your point brother. For alot of us, even if we sell high, we also have to buy high. Thats why my wife told me, better have 1 child only, then leave the house to the child next time.

Herein lies the reason for low TFR.

 

[Baluku]

profit kee lan.

HDB dun have a cut of your profit?

CPF dont have a cut of your profit?

Agents dont have a cut of your profit?

how much do you have left? 100-200k?

which HDB flats can you buy with this kind of money?

or you go back to the same shit of repaying 25 years loans through your ass again?

LPPL.

and what about your kids? they have to go through the same shit as you because you were responsible for the speculation of HDB flats.

dont blame HDB for skyrocketing prices.

blame yourselves instead for being stupidly greedy.

 

[Raiders]

Punggol 4 room got 120K in the past? when was that bro?

Sorry, I remembered wrongly. I think she bought it at around 190k? Was that the correct BTO price? I understand that the current BTO price for a 4 room flat in Ponggol is now 280-330k?

 

[Heshe]

The bare hard truth is IF one do NOT sell AND realise any profit (DO NOT forget there are A LOT of $$$ to be deducted NT an ABSOLUTE profit, CPF ccrued interest, SOME need to minus off Min Sum, even for both husband and wives) BEFORE settling down FOR THE NETT NETT profit okay!!) - SOME people ARE SITTING on a Paper Gold MINE !!!!!