Minister Cow said Mah Bow Tan created the supply and demand inbalance

[rusty]

and he also claimed that the COV data is just as misleading as Mah Bow Tan.




SINGAPORE: National Development Minister Khaw Boon Wan said it will take 3 to 5 years to "substantively resolve" the problem of high resale flat prices and for prices to stabilise.

He said there is currently an imbalance between supply and demand - and new Build-To-Order (BTO) flats take three years to build.

Mr Khaw said this in response to questions from reporters on the sidelines of a community event on Sunday.

He also expressed confidence that resale flat prices will stabilise but stressed that the problem of high prices cannot be solved overnight. He urged Singaporeans to be patient.

On Friday, figures from the HDB showed prices rising by 3.1 per cent in the second quarter of this year, nearly twice the previous quarter's 1.6 per cent.

"Why do prices go up? It's very simple, because there's an imbalance in supply and demand. Supply means... build more. (But) you won't see the flat until three years later. New housing plans will have effect on the resale market. So the more I push out, I'm sure there's some influence," said Mr Khaw.

On the demand side, Mr Khaw advised young couples who have a place to stay in currently, not to get too excited and jump into the resale market. Instead, they should continue to apply for a BTO flat. He also urged upgraders who already own a flat to hold off on their plans, so as not to crowd the market.

Mr Khaw added that the property cooling measures implemented by the government have reduced unnecessary demand stemming from speculation.

Mr Khaw also explained why the HDB stopped releasing the median Cash-Over-Valuation (COV). The minister said the figure is "misleading" and cannot be used to judge if COV has gone up or come down.

He added that the median figure is dependent on the house type and location of flats that are sold, which can change from month to month.

Instead, the HDB will continue to offer a breakdown of COV according to location and house type, which Mr Khaw said, is the information Singaporeans need when they decide on whether to buy a home.

 

[ChaoPappyPoodle]

I am curious to know if buying resale means not having to pay for the land costs. This means that effectively only first time buyers pay the land costs.

Those that buy resale get to do so without waiting for their flat meaning they save on rental and are also quicker to realise any profit from selling the flat.

And dont be silly to blame MBT. This is very obvious a PAP policy from top down.

 

[Confuseous]

and he also claimed that the COV data is just as misleading as Mah Bow Tan.




SINGAPORE: National Development Minister Khaw Boon Wan said it will take 3 to 5 years to "substantively resolve" the problem of high resale flat prices and for prices to stabilise.(He is lying lah. Mabok Tan untill his last breath before the erection said "where got problem? He also got a book to prove it!)

He said there is currently an imbalance between supply and demandWah, what a revelation! So it was actually all about SUPPLY and DEMAND? This $8 Malaysian Cow is a genius! He deserves his $2million salary. Like Wong Cunt Seng who said "If Mas Salamat is not in Singapore, it means that he has left the cuntry". Our ministers so brilliant hor?) - and new Build-To-Order (BTO) flats take three years to build.

Mr Khaw said this in response to questions from reporters on the sidelines of a community event on Sunday.

He also expressed confidence that resale flat prices will stabilise but stressed that the problem of high prices cannot be solved overnight. He urged Singaporeans to be patient. Patience? What is that? He should be patient and collect his bonus only when all the housing needs of citizens are provided for.)

On Friday, figures from the HDB showed prices rising by 3.1 per cent in the second quarter of this year, nearly twice the previous quarter's 1.6 per cent. I don't know what to say. Maybe the media should ask Marlboro Tan to say something and explain to Malaysian Cow why).

"Why do prices go up? It's very simple, because there's an imbalance in supply and demand. Supply means... build more. (Affordable Mah did not know this all these years? This Khaw fella is good, I tell you!)(But) you won't see the flat until three years later. New housing plans will have effect on the resale market. So the more I push out, I'm sure there's some influence," said Mr Khaw.

On the demand side, Mr Khaw advised young couples who have a place to stay in currently, not to get too excited and jump into the resale market. Instead, they should continue to apply for a BTO flat. He also urged upgraders who already own a flat to hold off on their plans, so as not to crowd the market.Another of those clownish ministers who don't seem to understand economics, his brilliance about supply and demand notwithstanding. Tell that to Kee Chiu Seng - he said don't wait for all the stars to align before getting married).

Mr Khaw added that the property cooling measures implemented by the government have reduced unnecessary demand stemming from speculation.

Mr Khaw also explained why the HDB stopped releasing the median Cash-Over-Valuation (COV). The minister said the figure is "misleading" and cannot be used to judge if COV has gone up or come down.(Uniquely Singapore is the only country to have COV which was created to protect the Banks - COV reduces the risk by reducing the amount they lend out. The COV is the COVer under which Affordable Mah has been using all these years to make the "affordable" claim. The hide the real prices of HDB flats. Housing Agents have been manipulating COV prices to gain extra money without their employers or income tax dept's knowledge.)

He added that the median figure is dependent on the house type and location of flats that are sold, which can change from month to month.

Instead, the HDB will continue to offer a breakdown of COV according to location and house type, which Mr Khaw said, is the information Singaporeans need when they decide on whether to buy a home.

Translation of $8 Cow's speech - you will get your flats just before the next election - in time for you to feel 'grateful'. More good years!