Junior
Originally Posted by proud owner
that works for new flats directly sold by HDB
for resale HDBs, private housing prices come into play too and set guide prices for resale HDBs, so eventually the richer HDB buyers will also flow towards 'prime' locations while less well off HDB buyers will gravitate towards outer regions likewise creating a 'rich zone' and 'poor zone' over time.
Senior
correct
his point is why Dawson selling at different price to brand new at ponggol ?
all brand new flats sold be HDB should be at the same psf .. regardless of location ...
resale HDB can do all they want .. thats his point
Junior
HDB not stupid, they justify unusually high prices by calling it BTOs or roping in brand name architects/design, create product differentiation lor ~
Newbie
Well all locations are not created equal. Cost building material and labour may be the same but the location at Dawson justifies a higher premium?
If all HDB are the same price, how long do you think the queue would be for the public carpark next to Borders @ Orchard to be converted to HDB and sell at $200psf?
Senior
HDB flats are the starting block for all singaporeans ..
owner can renov however they like base on their wealth .. theres no need to do nice nice .. by doing what they do now with Dawson ..its splitting the wealthy and poor right from the base level ..
ultimately rich will be richer ... not so rich will remain not so rich
where is that "everyoine has a chance' govt always talking about ?
Junior
I heard they are using HSR to market one of the DBSS. Is tat true?
Newbie
I agree with Andy.
It would seem a bit unfair if by lottery some-one (group of people) could gain an asset of far greater value (double, triple), than through hard work.
I think the government should focus, on monitoring the prices compared to other international cities (not just Hong Kong, London etc...). anything above 600K gets you some really nice property in most larger cities around the world that are far more impressive than an HDB flat. What good are low taxes if most if it goes to a mortgage of a property which is not exactly good bang for the buck if you compare to most cities around the world. Only really high income industries like bankers, are not effected by these costs. How ever these people are not exactly the most loyal stakeholders in a country. IT is tricky.
F01 N54 Sheer Driving Pleasure
The Peak @ Toa Payoh is marketed by HSR.
Many years ago, HDB also tasked property agents to sell their unsold HDB flats.
Junior
totally agree with wat u are saying ~
Senior
and what if HDB decides only to build 3room flats for the real lower income and leave the current 4/5roomers to slug it out in the private market? would this group be in a better state when left to deal with private developers and private resellers?
yes everyone has an equal chance at striking lottery in a ballot system when they are offered it at cost. but for the many unlucky ones who didn't get balloted, knowing local mentality, they'll surely complain that they balloted so many times and didn't get a flat of their choice.
central planning unfortunately isn't very efficient allocator of resources, the pricing mechanism for lack of a better alternative does a slightly better job.
if you were playing a game titled "Sim Singapore HDB", how would you allocate your housing to keep the broader masses happy when you have developed 80% of your residential land?
Senior
i hear you
at least everyone has a chance at getting at cost , a flat in good location ..
yes those who dont get it will complain
but by setting the starting price now already eliminated a big group from that chance ..
so there will still be complains ...
but i feel .. often its not the poor who complain
its the richer ones that complain more hahah
Junior
No need so troublesome.
It' more efficient for the government to just give out cash directly.
We can have a system like this:
Whoever applies for Pinnacle @ Duxton, receive cash $300,000.
Whoever applies for SkyTerrace @ Dawson, receive cash $200,000.
Whoever applies for Montreal Dale @ Sembawang, receive cash 100,000.
Whoever applies for Punggol Arcadia, receive $0.
This is more efficient because the applicants do not have to re-sell their flats in the resale market, in order to realise their profits. This will save them agency commissions and also the time and effort of moving house.
Under your friend's suggested balloting system, if someone got a unit at Duxton but decide downgrade to Punggol in order to realise his "profits", he will have to sell Duxton, then buy again at Punggol. That's a lot of hazzle.
It's much simpler for everyone if the Duxton applicant just receives $300,000 cash directly from the government.
He can then choose to do whatever he likes with the money. For example, he can:
1. Buy a unit at the Pinnacle @ Duxton, using the $300,000 government grant to top up the purchase price.
2. Buy a unit at Punggol Arcadia and use the $300,000 to buy a BMW 740 Li so that he can drive in style to work.
3. Buy a unit at Punggol Arcadia and use the $300,000 to buy two BMW 320i. One for husband and one for wife, so that they can zip around the island independently.
This makes much more sense than your friend's suggestion.
Senior
ahahhah
brother .... this is NEVER going to happen ...
sometimes govt over charge me for some stuff .. i write in to claim back ..
takes me months before i get my money .. BUT if i dont pay ON TIME ..will kana pink reminder letter .. then go to court etc etc
SINCE 1965 ...its easy to PAY to govt but damn tough to CLAIM BACK
let alone take from them upfront ?
BUT i like to vote for you if you ever run in the next election ,,
F01 N54 Sheer Driving Pleasure
But his friend, the commie I supposed, may add that no one can sell their flat for a profit. So under his system, nobody can benefit nor lose out buying or selling a flat and nobody can complain "unfair" too.
Sir, $300,000 can only buy 730Li leh.
Senior
i think this sporean in NY's idea is that
all new flats sold by HDB should be the same price ..regardless of locations ..since all land belongs to the state (and the people) .. so that the general public gets a chance at buying flat at prime location
after 5 yrs they can sell to open mkt .. thats how the poor can become rich ..if they cash in and buy resale flat (or condo) at another location
by selling at different pricing .. the govt is splitting rich and poor ..
resale mkt is a different story he says .. its then like private ..
public housing should not be sold like private housing in the first place ..
thats his take
F01 N54 Sheer Driving Pleasure
Then it is unfair!
The cost of building a flat in a prime area is higher due to higher transport cost (tolls, parking, fuel wasted in jams, time wasted in jams, etc.), higher labour cost (cos' non-hostel-based workers staying in/near prime areas cost more) and higher building cost (cos' more difficult to build in densely built-up areas).
Why should those allocated with a non-prime flat "pay more" for a lower-cost flat?
Junior
Parallel import got ...
Executive Automobile Tel: 65475505
740Li (A) $290,800
1 bid guaranteed COE without top-ups. Price before cash rebate.
Genesis Tel: 62456680
740Li (A) $297,888
4 bid guaranteed COE without top-ups. Price before cash rebate.
Since you suspect that proud owner's friend is a commie, could he be ... Saint Double-O?
Senior
Those who got puggol instead of dawson will complain again. Resale cannot be treated too far from original purchase from HDB. People will inevitably compare and complain.
Junior
Can agree with the above point, but not below.
If resale can be treated as Private, then that defeats the first purpose.
BE CENTRED BY ALL AT THE FRINGE OF THE CITY @
New Launch Project Specialist
It all simply boils down to stupid Singaporeans, willing to pay $600+k for Dawson 99LH HDB, no matter what policy is in place they will eventually be sold at that kind of prices in the resale market, simply because there are stupid buyers. So cannot blame Govt.
Junior
i think to be fair. government should cap the profit at say $200k and impose 80% TAX on the remaining profit. so irregardless of prime or ulu location, every singaporean will have a fair share of profit. those non prime location might make less than $200k profit so he need not pay tax but prime location profit will make > $200k profit but he can only keep $200k plus 20% more of the remaining profit. the extra 20% is to compensate them for paying higher price for the prime location. such system will ensure every singapore can have their fair share of profit
F01 N54 Sheer Driving Pleasure
What about in a downturn situation?i think to be fair. government should cap the profit at say $200k and impose 80% TAX on the remaining profit. so irregardless of prime or ulu location, every singaporean will have a fair share of profit. those non prime location might make less than $200k profit so he need not pay tax but prime location profit will make > $200k profit but he can only keep $200k plus 20% more of the remaining profit. the extra 20% is to compensate them for paying higher price for the prime location. such system will ensure every singapore can have their fair share of profit
If those prime-area owners made a bigger loss in their sale, will the government limit their loss by compensating them?
This will also ensure everyone gets a fair share of loss.
New Launch Project Specialist
Sounds equitable.i think to be fair. government should cap the profit at say $200k and impose 80% TAX on the remaining profit. so irregardless of prime or ulu location, every singaporean will have a fair share of profit. those non prime location might make less than $200k profit so he need not pay tax but prime location profit will make > $200k profit but he can only keep $200k plus 20% more of the remaining profit. the extra 20% is to compensate them for paying higher price for the prime location. such system will ensure every singapore can have their fair share of profit
Junior
lol... this thread is so amusing
Junior
Might as well say all Public Housing should be on Rental basis and not lease sale. Then anyone who wish to make $$$ from properties do so in the Private markets.
BE CENTRED BY ALL AT THE FRINGE OF THE CITY @
Newbie
Sounds like communism.....i think to be fair. government should cap the profit at say $200k and impose 80% TAX on the remaining profit. so irregardless of prime or ulu location, every singaporean will have a fair share of profit. those non prime location might make less than $200k profit so he need not pay tax but prime location profit will make > $200k profit but he can only keep $200k plus 20% more of the remaining profit. the extra 20% is to compensate them for paying higher price for the prime location. such system will ensure every singapore can have their fair share of profit
F01 N54 Sheer Driving Pleasure
"Look at me. Do I look stüpïd? Do you think we put 5½ billion dollars in here because we didn’t check the market ...? Trust me, there will be more high rollers than you can shake a stick at."
"There are so many high rollers. We have 5 plane-loads of ... 747s flying, starting yesterday. They flew to Vegas with about 100 high rollers. Two of the trips come from KL. One trip from Singapore, one trip from Bangkok, one trip from Jakarta and one trip from Hong Kong. They all say they’re waiting for Singapore to open."
- Sheldon G. Adelson
.. Chairman and CEO
.. Las Vegas Sands Corp.
Senior
logically it sounds fair, but then, people will again complain that the state is taxing too much and making too much in the process. so how? there'll be a reason to complain about anything and everything. ha.
F01 N54 Sheer Driving Pleasure
Of course CSR's high is still lower than Southbank's.
Done Deals
City Square Residences resale prices above $1,000 psf
The Edge
Monday, 14 December 2009
Since June this year, transaction prices of apartments at the 910-unit City Square Residences in the secondary market have increasingly crossed $1,000 psf, hitting a high of $1,271 psf in August, when a 570 sqft studio apartment on the 26th floor of one of the 2 30-storey towers was sold for $725,000. Since October, however, more units have been changing hands in the resale market at prices above the $1,000 to $1,100 psf range.
There has also been an increase in transactions last month. In November, up to the latest caveat lodged on Nov 18 — for a 3 bedroom 1,518 sqft unit that changed hands for $1.49 million — there were already 8 transactions at City Square Residences, compared with 7 recorded in October, according to the URA Realis database of caveats. The buoyant prices at City Square Residences can be attributed to the launch of the 40-unit boutique-apartment project City Loft on Race Course Road by Oxley (Ascend Capital Pte Ltd) in late October, where units were sold at $999 to $1,154 psf, according to caveats lodged. The development is made up of 34 units of studio apartments ranging from 322 to 419 sqft and six two-bedroom “penthouses” of 742 to 904 sqft.
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Newbie
For $1200 i can buy almost new Freehold in River Valley! or near Mohd Sultan!
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