Today ST....govt keeping close eye...on..

[radha08]

EC.....so coming soon...new cm for ec...want to buy better buy hor

[thomastansb]

Actually the Government is just frustrating everyone in the end. Come on la, those who buy EC are first timer with no private investments and they genuinely wanted a house to stay. MBT mistake is really a grave one.

[3C]

Woh so good! So close one eye or two eyes. No worry then.

[Allthepies]

EC.....so coming soon...new cm for ec...want to buy better buy hor

Can summarise, I don't read straits times?

[Rosy]

I can sense greed in this article.

[leesg123]

Actually the Government is just frustrating everyone in the end. Come on la, those who buy EC are first timer with no private investments and they genuinely wanted a house to stay. MBT mistake is really a grave one.

Mixed bags. I know of couples in early early 20s, not yet working, are goin full force on EC, with the blessings of parents as bank gurantors. No intention to stay, but to rent.

[DC33_2008]

Really curious with household income of max $12000/mth to buying a $2mil plus EC PH. Maybe PM sponsor and move in with their children. Heard liveable space is not much but with lots of terrace space.

[DC33_2008]

Well, that is kiasu syndrome with investment mind.

Mixed bags. I know of couples in early early 20s, not yet working, are goin full force on EC, with the blessings of parents as bank gurantors. No intention to stay, but to rent.

[Regulators]

knn the government really nothing better to do. if people can afford to buy condo, just let them buy, as simple as that. if government don't want people to buy, very simple, just don't sell land for developers to build lor. they want to sell land to developers then kpkb that market getting overheated. I think the people in mnd too free liao, with nothing better to do.

[price]

knn the government really nothing better to do. if people can afford to buy condo, just let them buy, as simple as that. if government don't want people to buy, very simple, just don't sell land for developers to build lor. they want to sell land to developers then kpkb that market getting overheated. I think the people in mnd too free liao, with nothing better to do.

bro chill.. this is EC ma. meant to be for the sandwiched class

[mcmlxxvi]

bro chill.. this is EC ma. meant to be for the sandwiched class

pls lorrrr. I wanna be sandwiched oso cannot lorr

[lajia]

The article mentioned a few couples who either say can afford the >1.4mil EC or eyeing bigger units which will be at the upper end of the pricing. Some even say backing coming from parents...if that's the case, then they are no longer under the so called sandwiched class...those working for own parent company draws less than 12k/mth on paper are also benefitting....

So, when is the next CM coming? I think not so much on curbing the demand but rather, getting rid of those who can afford private to buy private instead...

Can summarise, I don't read straits times?

[NO_7]

Today news? Helping to boost the sale at City life issit?

[Allthepies]

The article mentioned a few couples who either say can afford the >1.4mil EC or eyeing bigger units which will be at the upper end of the pricing. Some even say backing coming from parents...if that's the case, then they are no longer under the so called sandwiched class...those working for own parent company draws less than 12k/mth on paper are also benefitting....

So, when is the next CM coming? I think not so much on curbing the demand but rather, getting rid of those who can afford private to buy private instead...

Thanks for summarising!

[Allthepies]

With less foreigners coming, government may one day imposed tougher restriction to rent out public housing including ec.

With resale hdb mop raised to 5 years, you cannot say government won't extend it further for new launch.

[DC33_2008]

It is also obvious why the dual key units are so popular in the recent EC.

With less foreigners coming, government may one day imposed tougher restriction to rent out public housing including ec.

With resale hdb mop raised to 5 years, you cannot say government won't extend it further for new launch.

[DKSG]

Next CM coming up in Feb13.

Watch this space!

Dont ask me for details.

DKSG

[DMCK]

why EC being subsidized? as the price aldy cheaper than PC

[minority]

Actually the Government is just frustrating everyone in the end. Come on la, those who buy EC are first timer with no private investments and they genuinely wanted a house to stay. MBT mistake is really a grave one.

How is this government fault again? becoz developer sell high 2M still got buyer? The whole idea is a free market. having EC with a income cap reduces the affordability of the couple.

But it cant be help if the parents of the couple lend a helping hand. or many be the parents sold their landed and want to live with the couple.

I dont see anything wrong with EC system. it works for what its suppose to do.

Helping couple with aspiration to get PC afford 1

[minority]

why EC being subsidized? as the price aldy cheaper than PC

its not subsidized from out of pocket. its buyer income capped. thus priced lower.

[timmy]

knn the government really nothing better to do. if people can afford to buy condo, just let them buy, as simple as that. if government don't want people to buy, very simple, just don't sell land for developers to build lor. they want to sell land to developers then kpkb that market getting overheated. I think the people in mnd too free liao, with nothing better to do.

I think MND should minimally correct the flaws in their policies. Subsidizing the rich kids who can afford $2 million EC with the help of their parents is in bad taste and socially unacceptable. The criteria for grants should be revisited.

[blackapple]

I think MND should minimally correct the flaws in their policies. Subsidizing the rich kids who can afford $2 million EC with the help of their parents is in bad taste and socially unacceptable. The criteria for grants should be revisited.

Actually if you can afford $2million, you should not be subsidy irregardless of your salary (<12K).

How much is the subsidy? 30K grant? Of course not, a EC land sale is about 300 psf and a PC is about 420-500 psf... about 150K difference.

A 3 bed room of 1000-1200 psf is subsidied 150K-200K. This is the sandwich group we need to help. However, a penthouse of 3000 psf, the subsidy is 450K. The richer get more subsidy in EC. In public housing, the poor should get more subsidy, not the richer.. Silly policy... think the strait times did not publish this yet..

[minority]

Rich kids or not. We all dont know. could be parents sold thier place. and kid with under 12K salary buy a place multi generation. What is the problem with that?

so many Green eye monster around..... these days.

[chestnut]

Actually if you can afford $2million, you should not be subsidy irregardless of your salary (<12K).

How much is the subsidy? 30K grant? Of course not, a EC land sale is about 300 psf and a PC is about 420-500 psf... about 150K difference.

A 3 bed room of 1000-1200 psf is subsidied 150K-200K. This is the sandwich group we need to help. However, a penthouse of 3000 psf, the subsidy is 450K. The richer get more subsidy in EC. In public housing, the poor should get more subsidy, not the richer.. Silly policy... think the strait times did not publish this yet..

Bro, how was the land subsidized???

Definition of subsidy
A benefit given by the government to groups*or*individuals usually*in the form of a cash payment or tax reduction. The subsidy is usually given to remove some type of burden and is often considered to be in the interest of the public.

Did the govt sell the land cheaper to the developer??? Was it a bidding process??? So if developer bid the land at 500 psf, do you think the govt will award???

[blackapple]

Bro, how was the land subsidized???

Definition of subsidy
A benefit given by the government to groups*or*individuals usually*in the form of a cash payment or tax reduction. The subsidy is usually given to remove some type of burden and is often considered to be in the interest of the public.

Did the govt sell the land cheaper to the developer??? Was it a bidding process??? So if developer bid the land at 500 psf, do you think the govt will award???

Would you buy a EC if the EC cost the same as PC? The land bid is lower due to the EC restriction. Is this subsidy?

Look at Tampines Citylife verus palm isles, which has better location and which is cheaper ??

[minority]

Would you buy a EC if the EC cost the same as PC? The land bid is lower due to the EC restriction. Is this subsidy?

Look at Tampines Citylife verus palm isles, which has better location and which is cheaper ??

The buyers are singaporean its just fair they are entitled their share of the pie for contributing to the nation building. Why so many green eye? cannot believe it...

[chestnut]

Would you buy a EC if the EC cost the same as PC? The land bid is lower due to the EC restriction. Is this subsidy?

Look at Tampines Citylife verus palm isles, which has better location and which is cheaper ??

So how do u clamp down on people who buy pinnacle??? Or queues town hdb???

Means testing of parents??

I agree with u to a certain extent... The best is to remove EC altogether... But removing it will remove the aspiration of Singaporeans who cannot afford pc.

What if parents sell their queens town hdb to stay with the son and daughter-in-law and the rest of the 3 kid??? Should we deprive them???

There are scenarios which we don't know, then who will decide if they qualify??

[blackapple]

The buyers are singaporean its just fair they are entitled their share of the pie for contributing to the nation building. Why so many green eye? cannot believe it...

PAP say that the poor get more subsidies.. I am just stating the fact.. You can correct me..

We used to be a very tolerant and not calculative society. But the more the government milk us, the more responsive we becoming. The foreign talent also teach us how to response to the government. Look at the strike, I can see it screening here soon by local producer..

MBT say something about raiding of reserve if land sale cheaply. Is EC land sell cheaply ? Is it raiding the reserve?

What come around go around.. Just look at the micheal palmer case!!!

But life go on.. Life is short.. Enjoy..

[avo7007]

The buyers are singaporean its just fair they are entitled their share of the pie for contributing to the nation building. Why so many green eye? cannot believe it...

Green eyed is better than blind. So when KBW reminded the developer of the intent of EC is he a green eye monster? And if KBW come in with more restriction on EC, is he green eyed?

[chestnut]

Green eyed is better than blind. So when KBW reminded the developer of the intent of EC is he a green eye monster? And if KBW come in with more restriction on EC, is he green eyed?

Minister's job is tough... Have to please everyone... Please all kind of colored eyes and the blind as well.