View Full Version : New 2room BTO pricing super cheap?
Did anyone notice how cheap the new 2 room BTOs are compared to 3room?
Is this HDB way of trying to punish MM sellers? Is HDB trying to tell people that small 2room apartments are not worth much?
now, property will go back to the fundamentals...location, location, location:cool:
Did anyone notice how cheap the new 2 room BTOs are compared to 3room?
Is this HDB way of trying to punish MM sellers? Is HDB trying to tell people that small 2room apartments are not worth much?
Relax.
1. Buyers' income less than 5k, MSR at 30% or so. Very few can qualify actually.
2. 46 to 1 unit tells us that latent demand is much much higher.
3. Cannot be rent out. MOP 5 years, not sure if run concurrently with construction period. The group will be out of market for probably 8 years...
Honestly, MM has run up too much. It's fair to diffuse a bit of attention... Very minimal actually.
It is time for the poor to make some money.
Even though the max. Ceiling is at 5k, its quite affordable n cheap. By age35, you should have more or less 50k in ur cpf ordinary imo if u r earning a mthly 4k.
if u need to buy MM now, go for freehold n not 99yrs to differentiate urself.
Relax.
1. Buyers' income less than 5k, MSR at 30% or so. Very few can qualify actually.
2. 46 to 1 unit tells us that latent demand is much much higher.
3. Cannot be rent out. MOP 5 years, not sure if run concurrently with construction period. The group will be out of market for probably 8 years...
Honestly, MM has run up too much. It's fair to diffuse a bit of attention... Very minimal actually.
uncle, your point 1 and 2 is contradictory leh...
Actually, all you need to know is how many of the MM buyers are singles and eligible for a 2 room HDB... Because EVERYONE of these buyers will no longer look at MM. I am quite surprised how cheap HDB is princing such 2 rooms apartment...
not sure about u, most of my friends who are mm investors either 5rm hdb or pte housing already and yes, married too. so this 2rm bto has no impact to the pte mm market.
tenant profile for mm vs hdb 2 rm flats are totally different league and class.
phantom_opera
04-08-13, 20:47
those who bought 30y lease studo will now kpkb follwed by those who bought 3r HDB 99LH
big mistake ... I think Khaw will regret it ... this is more like socialist housing liao ... and it is more like strike lottery when oversubscribed by 50x
how about don't get married, each get one 99LH 2r and then stay together, rent out one ... most couples don't want kid anywhere if above 35 .... :beats-me-man:
I think old men may interfere :tsk-tsk:
Don't lose sight of the forest for the trees.
Now you can have different tree everyday, why chose to get marry.
http://sherryclaytonworks.files.wordpress.com/2012/08/alessandro-cancian-ng-photo-contest.jpg
phantom_opera
04-08-13, 21:50
it is just illogical ... how can they give singles a 2r 99LH cheaper than a 30y leasehold studio for the senior citizens
I am sure those slightly above 5kpm singles will kpkb along with senior citizens
this can only happen with socialism or welfare state :scared-1:
who wants to work hard then?? just 混日子 and wait for your turn at 35 ... sucks the taxpayers money :spliff:
becoz they r the vocal ones who voted opposition??
In sg... many a times things only get done when pple kpkb...
it is just illogical ... how can they give singles a 2r 99LH cheaper than a 30y leasehold studio for the senior citizens
I am sure those slightly above 5kpm singles will kpkb along with senior citizens
this can only happen with socialism or welfare state :scared-1:
who wants to work hard then?? just 混日子 and wait for your turn at 35 ... sucks the taxpayers money :spliff:
I believe the rationale for 5kpm for singles is based on married couple 10kpm basis.
it is true tat, relatively, seniors r getting a less attractive deal.
but honestly many eligible singles will not get the bto one.
1. the allotment is few.
2. Top priority will be given for the old n poor.
3. Not forgetting poor old single parent.
all these a lot leh. u tink when will a young guy at say 40yr old wif income $3.5k get his turn? Let alone a 35yrs old earning $5k.
phantom_opera
05-08-13, 11:04
I believe the rationale for 5kpm for singles is based on married couple 10kpm basis.
it is true tat, relatively, seniors r getting a less attractive deal.
but honestly many eligible singles will not get the bto one.
1. the allotment is few.
2. Top priority will be given for the old n poor.
3. Not forgetting poor old single parent.
all these a lot leh. u tink when will a young guy at say 40yr old wif income $3.5k get his turn? Let alone a 35yrs old earning $5k.
I thought it is by balloting, did HDB specifically say that they prefer older and poorer singles?? I agree that they do have higher quota for married couples.
I thought it is by balloting, did HDB specifically say that they prefer older and poorer singles?? I agree that they do have higher quota for married couples.
it is by balloting, but the system can be programmed to set selection criteria de mah.
wat the govt wanna help is the poor n old, not singles like u & me.
studio oni caters to those 55 n above, hence govt is helping poor singles between 45-55.
juz monitor around n see wat types of singles get the 100+ bto tis round lor ...
I agree the government is punishing those who earn more than 5k with this new scheme... :simmering:
But I feel they are also trying to punish the MM buyers at the same time. Especially those who bought at OCR. Imagine those buyers of Seng Kang and Yishun MM condos, you pay 1000 psf... And all this BTO only how much psf? :doh: If they can rent out at 1000 per month.. Their yield super high leh...
To be fair govt should tax heavily if these 2room hdb unit is rented out.
If u earn $4.5k plus rental of 2room hdb unit = $4.5k + $1.7k= $6.2k
Low pay also become medium pay.
Milk until dry then sell it at $260k then apply another 2room hdb unit. Huat ahhhh.
phantom_opera
05-08-13, 14:05
Sengkang single quota is now 74x oversubscribed
Due to overwhelming demand, Khaw might price it 30% higher next time :beats-me-man:
If u earn $4.5k plus rental of 2room hdb unit = $4.5k + $1.7k= $6.2k
Low pay also become medium pay.
Milk until dry then sell it at $260k then apply another 2room hdb unit. Huat ahhhh.
married folks have had the opportunity... why not singles? i think from the profiteering perspective it is fair.
phantom_opera
05-08-13, 14:11
married folks have had the opportunity... why not singles? i think from the profiteering perspective it is fair.
but psf for 2r hdb is actually lower ... so 2 singles hoot 2 x 2r better or marry and get a 4r??
2r 47sqm 98-124k
4r 94sqm 251-324k
but psf for 2r hdb is actually lower ... so 2 singles hoot 2 x 2r better or marry and get a 4r??
2r 47sqm 98-124k
4r 94sqm 251-324k
somebody said this loophole had already been reported to friends in mnd ler..
btw not apple to apple comparison.
4r flat has 3 bdrms.
2r x 2 only 2 bdrms.
Application rate highest in recent years, with over 8,500 to vie for 155 units available
By Sumita d/o Sreedharan
6 hours 45 min ago
SINGAPORE — Applications for new two-room flats set aside for singles shot through the roof, surpassing most expectations and setting the highest application rate for Build-to-Order (BTO) flats in recent years as the latest application exercise closed last night.
More than 8,500 applications by singles aged 35 and above were made for the 155 units available in Sengkang and Yishun. This means that, on average, more than 55 singles would vie for one two-room unit on offer.
In a blog post last night, National Development Minister Khaw Boon Wan welcomed the scheme as a much-needed one to address demand. He said: “The policy change was initially met with scepticism. Many were reported to predict a lukewarm response ... This is not lukewarm at all.”
At 5pm yesterday, 77 singles vied for one two-room unit at Sengkang. In comparison, the application rates from home buyers who were first-timers and second-timers were 1.0 and 3.0 respectively. At Yishun, over 36 singles vied for one two-room unit. The same unit had an application rate of 0.7 from first-timers and 1.8 from second-timers.
Property analysts said the singles’ application rate for the two-room flats was the highest they could recall in recent years. “I have never seen application rates this high for a BTO launch,” said Mr Eugene Lim, Key Executive Officer of ERA Realty Network. He had a caveat though — as only 30 per cent of supply of the two-room flats have been set aside, “the numbers will look large in comparison”, added Mr Lim.
In his blog post, Mr Khaw said the median age of the singles who applied was about 43, and they have a median monthly income of about S$1,800.
“Our decision to focus on the singles aged 35 years and above and up to S$5,000 income level was therefore appropriate,” he wrote.
Mr Khaw noted the move to open up two-room flats to singles “has also not affected the first-timer families applying for two-room flats, as their BTO application rate is below one time for now”.
The strong interest singles have shown in the most recent BTO exercise also sparked debate if more should be done to help the group.
Member of Parliament (MP) Liang Eng Hwa, who sits on the Government Parliamentary Committee (GPC) for National Development, felt that the housing needs of singles should not be addressed by BTO flats alone.
“We have to look beyond BTO to other housing options such as helping first-timer singles to own resale flats, rental flats or other co-ownership schemes with other family members,” he said.
Mr Liang felt more two-room flats could be allocated to singles as the demand from families has been met, even though he added that the picture would be clearer after a few more launches.
MP Lee Bee Wah, who chairs the GPC, felt the policy is “moving at the right pace”.
“We shouldn’t rush as we are dealing with public housing and any move we take should be to ensure that it is in the best interest of the target group and others,” she said.
PropNex Chief Executive Mohamed Ismail, who suggested raising the 30 per cent cap on the number of two-room units made available for application by singles, said the Government has to manage the public’s expectations as well.
“Since the Government has opened up the scheme to singles, it has now become an entitlement. And so the longer people have to wait to get a flat and if they keep getting rejected, they will be very unhappy and the authorities will have to deal with that disappointment,” he said.
Mr Khaw said the Government will analyse the BTO data in greater detail over the next few weeks “to see how we can refine our next BTOs”.
http://www.todayonline.com/singapore/bto-flats-singles-draw-huge-response
Tend to agree what Mohd Ismail said.
“Since the Government has opened up the scheme to singles, it has now become an entitlement. And so the longer people have to wait to get a flat and if they keep getting rejected, they will be very unhappy and the authorities will have to deal with that disappointment,” he said.
Mr Khaw said the Government will analyse the BTO data in greater detail over the next few weeks “to see how we can refine our next BTOs”.
Tend to agree what Mohd Ismail said.
I see no reason y govt cannot allocate more units to singles. no big deal in offering them a pathetic 2rm flat. it is poor singles having no choice den fight until liddat. else, who would wan a 2 rm flat by choice?
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