How many Singaporeans can afford a condo

**chestnut** · 03-01-13, 16:50

My assumption is a base of 150K and above per annum . Could be lower...

So let's base on 150K/annum. This makes up 11% of the population. The total Singapore workforce is - 1.7Mil as of 2010

Source
http://www.salary.sg/2012/compare-yo...income-latest/
http://www.singstat.gov.sg/pubn/pape...ple/op-s17.pdf

So based on 11% of 1.7Mil = 187K of the population technically qualify for a private property. This are individuals...

If we look at household income, let's assume 13K per month. This works out to be the top 23% of the households. The number of household is 1.146Mil. 23% = 263K can afford a private.

Source
http://www.salary.sg/2012/benchmark-...d-income-2012/
http://www.singstat.gov.sg/stats/keyind.html#hhld

I have not included foreigners yet.

Food for thought.

Key in your own figures to interpolate.

Cheers

**chestnut** · 03-01-13, 17:00

Here is something for all to read about the effects of "Immigration".

Please do not take wholesale... Read it with a pinch of salt.

http://www.workingimmigrants.com/201...t_immigra.html

**phantom_opera** · 03-01-13, 17:01

bro chesnut, been there done that already, when SIBOR is at > 3%, only 240k households can afford 1m condo, with SIBOR < 0.5% ... it is 440k

**mcmlxxvi** · 03-01-13, 17:05

80 20 rule, still have over 50k household, more than enuf to soak up all the new launches units in 2013 + 2014

**chestnut** · 03-01-13, 17:05

Originally Posted by phantom_opera

bro chesnut, been there done that already, when SIBOR is at > 3%, only 240k households can afford 1m condo, with SIBOR < 0.5% ... it is 440k

Have you read the effects of immigration??? This is an add on the number of Singaporeans who can afford... You combine the both, the results are crazy!!!!

**chestnut** · 03-01-13, 17:06

Originally Posted by mcmlxxvi

80 20 rule, still have over 50k household, more than enuf to soak up all the new launches units in 2013 + 2014

Freaky rite... All because of immigration and new citizen...

**phantom_opera** · 03-01-13, 17:07

Originally Posted by chestnut

Have you read the effects of immigration??? This is an add on the number of Singaporeans who can afford... You combine the both, the results are crazy!!!!

of course ...immigrants normally are baby boomers ... they need a home urgently, be it rental or purchase

we took in about 500k SPRs/SCs over the last 10y .. may be about 100k new families, out of those probably 50k can afford at least an MM

barring Blackswan, it is almost certain HDB resale price index will hit 223 (up another 12% form current level) in next 2y, 276 in another 5y

**roly8** · 03-01-13, 17:12

rich foreigners are coming

hope got rich & young lady for me to hookup..
then me can eat soft rice ..

**mcmlxxvi** · 03-01-13, 17:13

Originally Posted by chestnut

Freaky rite... All because of immigration and new citizen...

Not freaky at all! Welcum welcum!!!

For those who left, thank you cum again!

**radha08** · 03-01-13, 17:15

Originally Posted by mcmlxxvi

Not freaky at all! Welcum welcum!!!

For those who left, thank you cum again!

for those cannot afford condo...there is always...condo-m

**radha08** · 03-01-13, 17:16

Originally Posted by roly8

rich foreigners are coming

hope got rich & young lady for me to hookup..
then me can eat soft rice ..

just dont become FRIED rice

**ikan bilis** · 03-01-13, 17:17

Originally Posted by roly8

rich foreigners are coming

hope got rich & young lady for me to hookup..
then me can eat soft rice ..

alamak !!... you keep taking like dat non-stop... very soon mcm is going to hook you...

**mcmlxxvi** · 03-01-13, 17:18

Originally Posted by roly8

rich foreigners are coming

hope got rich & young lady for me to hookup..
then me can eat soft rice ..

U go n jiak sai and eat lice la!!!

Lol

**mcmlxxvi** · 03-01-13, 17:20

Originally Posted by ikan bilis

alamak !!... you keep taking like dat non-stop... very soon mcm is going to hook you...

Eat soft lice men, gay oso dun wan. Plssssssss!!!

Hoot him more like

**chestnut** · 03-01-13, 18:17

Originally Posted by phantom_opera

of course ...immigrants normally are baby boomers ... they need a home urgently, be it rental or purchase

we took in about 500k SPRs/SCs over the last 10y .. may be about 100k new families, out of those probably 50k can afford at least an MM

barring Blackswan, it is almost certain HDB resale price index will hit 223 (up another 12% form current level) in next 2y, 276 in another 5y

Bro, it's the new ruling that many hdb owners are holding on their units for dear life. This has resulted in less supply on the resale market. And we all know what happens when demand more than supply.

**Reisor** · 03-01-13, 20:10

Originally Posted by chestnut

Bro, it's the new ruling that many hdb owners are holding on their units for dear life. This has resulted in less supply on the resale market. And we all know what happens when demand more than supply.

Wouldn't that mean that holding HDB and PC has the greatest policy risk?
I suppose the next CM to tackle demand and supply would be to either stay in HDB only or approval for a certain number of years of rental only (just like PR now).

**chestnut** · 03-01-13, 20:12

Originally Posted by Reisor

Wouldn't that mean that holding HDB and PC has the greatest policy risk?
I suppose the next CM to tackle demand and supply would be to either stay in HDB only or approval for a certain number of years of rental only (just like PR now).

If they do that, where will the foreigners stay???? This is the dilemma???

**buttercarp** · 03-01-13, 20:30

Originally Posted by chestnut

If they do that, where will the foreigners stay???? This is the dilemma???

Or mabbe the next cm they say only SC can hold onto hdb if wanna own pc n SPR cannot do so. Better still if they make it so that both spouse must be SC. That should free up some hdb.

As it is already SPR cannot let out their hdb flat indefinitely.

**blackapple** · 03-01-13, 20:35

Originally Posted by buttercarp

Or mabbe the next cm they say only SC can hold onto hdb if wanna own pc n SPR cannot do so. Better still if they make it so that both spouse must be SC. That should free up some hdb.

You must be dreaming.. They do not milk you good enough already..
They give you a drumstick and you lose a chicken...

**buttercarp** · 03-01-13, 20:38

Originally Posted by blackapple

You must be dreaming.. They do not milk you good enough already..
They give you a drumstick and you lose a chicken...

Can you explain yourself?
I don't understand chicken n drumstick theory

.

**blackapple** · 03-01-13, 21:02

Originally Posted by buttercarp

Can you explain yourself?
I don't understand chicken n drumstick theory

.

Just like GST, they give you rebate for few year but you pay for the rest of your life..

**stiook** · 03-01-13, 21:33

Originally Posted by chestnut

If we look at household income, let's assume 13K per month. This works out to be the top 23% of the households. The number of household is 1.146Mil. 23% = 263K can afford a private.

Don't need 13k to afford...

**flxcat** · 03-01-13, 21:40

Originally Posted by buttercarp

Or mabbe the next cm they say only SC can hold onto hdb if wanna own pc n SPR cannot do so. Better still if they make it so that both spouse must be SC. That should free up some hdb.

As it is already SPR cannot let out their hdb flat indefinitely.

In fact the recent policy on SPR can only rent max 5yrs there is already some impact. 3 of my SPR friends staying in PC and renting out HDB already sold and cash out since HDB prices are good and they no longer can milk the HDB cow.

**phantom_opera** · 03-01-13, 21:42

Originally Posted by flxcat

In fact the recent policy on SPR can only rent max 5yrs there is already some impact. 3 of my SPR friends staying in PC and renting out HDB already sold and cash out since HDB prices are good and they no longer can milk the HDB cow.

they will cry when HDB Resale price index reach 276

**flxcat** · 03-01-13, 21:49

Originally Posted by phantom_opera

they will cry when HDB Resale price index reach 276

Kind of stuck as they already been renting out their HDB for more than 5yrs and wa t to enjoy PC. Leaving empty is not ideal. Money better reinvest back home buying lands and plan for retirement. Anyway I am no surprise of such move

**JAFCO** · 03-01-13, 22:02

How does a singaporean become a spr?

I like singapore like pr does but since spr must have find more advantages being one and yet enjoy life here without the shackles of ns and cpf and lack of burial maybe its better becoming spr. At least i dont have to sacrfice to defending a nation i no longer own any property of.....

**Allthepies** · 03-01-13, 23:00

Originally Posted by JAFCO

How does a singaporean become a spr?

I like singapore like pr does but since spr must have find more advantages being one and yet enjoy life here without the shackles of ns and cpf and lack of burial maybe its better becoming spr. At least i dont have to sacrfice to defending a nation i no longer own any property of.....

Rule #10 is really important to achieve happiness: in short don't be envy of others, don't be green-eye monster. Be happy that you are a Singaporean and not born in Rwanda.

**WCB017** · 04-01-13, 16:41

I do not understand this. My combined annual income with my wife is about $200K but we still cannot seems to be able to afford to buy any private propoerty in the current market. We are still currently staying in a 5 rm HDB.

**Lovelle** · 04-01-13, 17:43

Originally Posted by WCB017

I do not understand this. My combined annual income with my wife is about $200K but we still cannot seems to be able to afford to buy any private propoerty in the current market. We are still currently staying in a 5 rm HDB.

U must be driving a bmw or merc

**roly8** · 04-01-13, 17:49

Originally Posted by WCB017

I do not understand this. My combined annual income with my wife is about $200K but we still cannot seems to be able to afford to buy any private propoerty in the current market. We are still currently staying in a 5 rm HDB.

bro, property price double over these few years..

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