View Full Version : Four ways to bring down flat prices
http://www.straitstimes.com/ST%2BForum/Story/STIStory_430779.html
Sep 17, 2009 Thursday
Four ways to bring down flat prices
I APPLAUD the new measures by the Government to curb speculation in the property market and reinstate the Government Land Sales Programme.
However, they do little to alleviate the structural problems at the root of the resale HDB market and the frustrations of many home seekers. It is too easy to blame cash over valuation (COV) for the rampant rise in resale prices or repeat continuously that resale HDB flats are affordable.
Four measures could be taken to significantly improve the supply of resale HDB flats and thus lower prices.
# HDB flats should be affordable housing only for genuine home owners who occupy the flats. They should not be used for investment or rental income.
The resale market is still tight because many owners, who have already moved out, are simply holding on to their property or hoping for a collective sale.
If owners do not live in their flats any more, they should be put on the market immediately.
# There should be an income and assets cap for owners of HDB flats. If the owners are very successful in life after buying an HDB flat, they should leave their property on reaching a certain threshold and sell it.
It is not right that families with multiple properties and very high salaries are able to hold on to their HDB flats.
# Have a staggered income ceiling instead of a blanket one of $8,000, applicable across all HDB flats ranging from $200,000 to $600,000.
For example, have an $8,000 income ceiling for flats valued below $400,000, a $10,000 ceiling for flats valued above that and below $600,000, and $12,000 ceiling for flats valued above $600,000.
# Take property agents out of the equation. HDB should stimulate and facilitate direct owner-buyer contact.
I urge HDB to consider these measures to tackle the problem at its root and let go of its free-property-market thinking.
Lim Hing Kok
Very good, too many HDB owners are buying multiple properties by renting out their HDB, this is a big NO NO.
Allthepies
17-09-09, 21:15
Very good, too many HDB owners are buying multiple properties by renting out their HDB, this is a big NO NO.
I agree, HDB is for home-stay, not for investment/renting! Don't deprive others of a home.
Regulators
18-09-09, 03:13
i especially like the part where agents are taken out of the equation...:D
i especially like the part where agents are taken out of the equation...:D
seriously since HDB has to control the sale valuation etc, why no let all sales go through them. Have a website to register your desire to sell. Buyers log in, browse filter and can compare straight away. No need for agents.
Regulators
18-09-09, 03:42
totally agree, agents are just blood suckers.
seriously since HDB has to control the sale valuation etc, why no let all sales go through them. Have a website to register your desire to sell. Buyers log in, browse filter and can compare straight away. No need for agents.
i especially like the part where agents are taken out of the equation...:D
Why? Good agents with wide contacts can help you sell higher than what you can do yourself, also the same if you buy, a good buying agent can hook you up to good deals only they have access to. They help you make money, why so sour?
If all trades go through ONE channel (etc HDB site),
Sellers will have the widest possible "contacts" or exposures cos all buyers will be looking at this site.
Buyers will get the widest possible selection of flats cos all sellers will be listed there.
Totally agree! Could apply for private ppty as well actually....
If all trades go through ONE channel (etc HDB site),
Sellers will have the widest possible "contacts" or exposures cos all buyers will be looking at this site.
Buyers will get the widest possible selection of flats cos all sellers will be listed there.
You are assuming everyone uses / knows how to use / or wants to use the internet....oh please....your point stops there.....you still need the human touch in dealing with big ticket items.
Totally agree! Could apply for private ppty as well actually....
You another one, do you know in pte pty market there are alot of rich people who do not have time to do searches themselves (busy playing golf) and rely on agents to buy / invest / sell for them.
Property_Owner
18-09-09, 11:18
You another one, do you know in pte pty market there are alot of rich people who do not have time to do searches themselves (busy playing golf) and rely on agents to buy / invest / sell for them.
Agree that agents are blood suckers. They work for money only
Agree that agents are blood suckers. They work for money only
who doesnt work for money? just look at our ministers hahaha :cool:
You another one, do you know in pte pty market there are alot of rich people who do not have time to do searches themselves (busy playing golf) and rely on agents to buy / invest / sell for them.
If a buyer/seller really has to rely on agent, then should of course pay agent fees. So, don't be cheapo about it unless you don't need to use them. On the other hand, agents who want to earn a living should know what is expected of them. Those who don't betta pull up their socks ...
2 sides of the equation .... perhaps the local system can look to other countries ... aussie quite pro in this area.
Property_Owner
18-09-09, 11:54
who doesnt work for money? just look at our ministers hahaha :cool:
Maybe we can pay them lesser:D :D :D
Allthepies
18-09-09, 12:44
Totally agree! Could apply for private ppty as well actually....
cannot do away with agents la, wait so many jobless people, where can government create so many new jobs for them, difficult la...., public sector already overloaded with people alrady :)
You another one, do you know in pte pty market there are alot of rich people who do not have time to do searches themselves (busy playing golf) and rely on agents to buy / invest / sell for them.
Sure, they can hire agents to list and search for them through this channel. :)
kee_on_popoti
18-09-09, 17:20
http://www.straitstimes.com/ST%2BForum/Story/STIStory_430779.html
Sep 17, 2009 Thursday
Four ways to bring down flat prices
I APPLAUD the new measures by the Government to curb speculation in the property market and reinstate the Government Land Sales Programme.
However, they do little to alleviate the structural problems at the root of the resale HDB market and the frustrations of many home seekers. It is too easy to blame cash over valuation (COV) for the rampant rise in resale prices or repeat continuously that resale HDB flats are affordable.
Four measures could be taken to significantly improve the supply of resale HDB flats and thus lower prices.
# HDB flats should be affordable housing only for genuine home owners who occupy the flats. They should not be used for investment or rental income.
The resale market is still tight because many owners, who have already moved out, are simply holding on to their property or hoping for a collective sale.
If owners do not live in their flats any more, they should be put on the market immediately.
# There should be an income and assets cap for owners of HDB flats. If the owners are very successful in life after buying an HDB flat, they should leave their property on reaching a certain threshold and sell it.
It is not right that families with multiple properties and very high salaries are able to hold on to their HDB flats.
# Have a staggered income ceiling instead of a blanket one of $8,000, applicable across all HDB flats ranging from $200,000 to $600,000.
For example, have an $8,000 income ceiling for flats valued below $400,000, a $10,000 ceiling for flats valued above that and below $600,000, and $12,000 ceiling for flats valued above $600,000.
# Take property agents out of the equation. HDB should stimulate and facilitate direct owner-buyer contact.
I urge HDB to consider these measures to tackle the problem at its root and let go of its free-property-market thinking.
Lim Hing Kok
Why should the owner leave their HDB flat after becomes successful?:doh:
Successful owners cannot stay as where they like?:doh: :banghead:
Not my concern cos i am not successful yet.
Why should the owner leave their HDB flat after becomes successful?:doh:
Successful owners cannot stay as where they like?:doh: :banghead:
Not my concern cos i am not successful yet.
Hi, noted your maiden post ... welc to the forum ;P
Yup, it's juz like everyone citizen shld be entitled to Class C ward if he or she so chooses to use those standard of medical care .. don't see why not. Juz becoz rich then can't use Class C meh?
Likewise, if u're a citizen & have bout hdb thru proper means - why can't keep leh? Perhaps those who put in efforts to make it big one day cld still be sentimental abt the flat mah ... why punish pp who become rich through their own means & efforts??
http://www.straitstimes.com/ST%2BForum/Story/STIStory_430779.html
Sep 17, 2009 Thursday
Four ways to bring down flat prices
I APPLAUD the new measures by the Government to curb speculation in the property market and reinstate the Government Land Sales Programme.
However, they do little to alleviate the structural problems at the root of the resale HDB market and the frustrations of many home seekers. It is too easy to blame cash over valuation (COV) for the rampant rise in resale prices or repeat continuously that resale HDB flats are affordable.
Four measures could be taken to significantly improve the supply of resale HDB flats and thus lower prices.
# HDB flats should be affordable housing only for genuine home owners who occupy the flats. They should not be used for investment or rental income.
The resale market is still tight because many owners, who have already moved out, are simply holding on to their property or hoping for a collective sale.
If owners do not live in their flats any more, they should be put on the market immediately.
# There should be an income and assets cap for owners of HDB flats. If the owners are very successful in life after buying an HDB flat, they should leave their property on reaching a certain threshold and sell it.
It is not right that families with multiple properties and very high salaries are able to hold on to their HDB flats.
# Have a staggered income ceiling instead of a blanket one of $8,000, applicable across all HDB flats ranging from $200,000 to $600,000.
For example, have an $8,000 income ceiling for flats valued below $400,000, a $10,000 ceiling for flats valued above that and below $600,000, and $12,000 ceiling for flats valued above $600,000.
# Take property agents out of the equation. HDB should stimulate and facilitate direct owner-buyer contact.
I urge HDB to consider these measures to tackle the problem at its root and let go of its free-property-market thinking.
Lim Hing Kok
Work harder and save more kid. Don't always complain. Govt don't owe u a flat in mature estate. No money then stay in outskirt. Else rent a place. Save all these nonsense till u can afford to own a place. Then read all back to yourself. Read all these 5yrs from now n tell us how u feel if your flat don't appreciate in px.
http://www.straitstimes.com/ST%2BForum/Story/STIStory_432710.html
Sep 22, 2009 Tuesday
Staggered income ceiling worth a look
I DISAGREE with Mr Lim Hing Kok's view last Thursday, 'Four ways to bring down flat prices', that HDB owners be forced to leave their flats should they become 'very successful in life'. Public housing, as a means of residence, should not be taken away from anyone.
Other factors may lead such successful people to keep their flats: large families, sentimentality for their first home, proximity to friendly neighbours and family; and even the stress of moving house.
However, Mr Lim's suggestion of a staggered income ceiling is viable and allows families who only just exceed the $8,000 income ceiling to buy larger premium public flats.
This would free up a larger portion of their income for education and other expenses.
As for eliminating property agents from the transactional process, the HDB already provides the option of direct
buyer-seller transactions, and holds regular seminars on how to do so.
However, property agents are necessary for the market at large. A property transaction involves large sums of money and many legalities.
Real estate professionals provide an important value-added service by helping clients find a willing buyer or ideal home, and shepherding them through a transaction process many find complicated.
The choice of engaging an agent lies with the buyer and seller.
Even if a client avoids using an agent, the actual amount saved is a fraction of the penalties should anything go wrong and lawsuits are lodged for non-compliance.
Adam Tan
Corporate Communications
& Marketing Manager
PropNex Realty
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