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Thread: Tiny flats a good buy?

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    mr funny is offline Any complaints please PM me
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    Default Tiny flats a good buy?

    http://www.straitstimes.com/Think/St...ry_451637.html

    November 8, 2009 Sunday

    Tiny flats a good buy?


    First, there were the 'mickey mouse' apartments of 500 sq ft or smaller. In [email protected] for example, there are units as small as 258 sqft, which is the size of 21/2 carpark spaces. Now penthouses in several developments to be launched have shrunk too, to less than 1,000 sqft. In Kembangan Suites, there are shrunken penthouses as small as 635 sq ft, about the size of an average three-room Housing Board flat.

    The trend of 'mickey mouse' flats took off last year. Nearly 500 of them have been bought this year, up from 299 last year and 275 in 2007. Driving the sales is affordability. Amid rising prices, a 350 sq ft one-bedder going for less than $400,000 can be alluring.

    Industry people are divided over how viable these small flats are. One of them assumed that most buyers are investors. The problem? They may have difficulty leasing them out long-term, so they may have to settle for monthly, weekly or even hourly renting. Some investment! Another property specialist says it is hard to imagine anyone living comfortably in a 300 sq ft apartment, but lifestyles evolve and tiny spaces in the heart of town could appeal to singles.

    The Sunday Times is amused by the trend. We hope it is a passing fad. Buyers should not be so desperate to own private property that they will plonk down good money for what is most affordable without regard for acceptable living space. It would be too late to regret their purchase if they discover that the tight squeeze is just unliveable.

    Also, why do such buyers not consider HDB flats? They are larger and much cheaper. The landscaped grounds and living environment are comparable to those of a mid-range condominium. If they are singles, which is likely the case, they can buy resale HDB flats. They can easily get a four-room or even five-room unit for $400,000.

    Ultimately, it is their decision. Good luck, we say.

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    Quote Originally Posted by mr funny
    http://www.straitstimes.com/Think/St...ry_451637.html

    November 8, 2009 Sunday

    Tiny flats a good buy?


    Also, why do such buyers not consider HDB flats? They are larger and much cheaper. The landscaped grounds and living environment are comparable to those of a mid-range condominium. If they are singles, which is likely the case, they can buy resale HDB flats. They can easily get a four-room or even five-room unit for $400,000.

    Ultimately, it is their decision. Good luck, we say.
    singles can buy 4-room and 5-room HDB??!!! Has the ruling CHANGED???

    I thought singles can only buy RESALE HDB of 3-room and below only?

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    ALL THE MICKEY MICE...CHEONG AHHHHH!!!!!

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    Quote Originally Posted by Regulators
    ALL THE MICKEY MICE...CHEONG AHHHHH!!!!!
    Well!
    It is not just MacDonald's customers who wanna "cheong". It looks like Mickey Mouse also wanna "cheong". No wonder the MM units are selling.

    I wonder if Mickey know the meaning of "cheong". Maybe he will shout "huat ah!" You never know.


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    Quote Originally Posted by new2mondrian
    singles can buy 4-room and 5-room HDB??!!! Has the ruling CHANGED???

    I thought singles can only buy RESALE HDB of 3-room and below only?

    I thought ONLY single (ABOVE 35 years old) can buy RESALES HDB 3-room and below in NON-MATURE estate??

    Now you see why MM unit are popular to SINGLES?

    Do you see why MBT will be anxious? It will be an embarassment him as it will go against National policy, . You get it?

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    HDB rules have changed, singles above 35 years old can buy resale flat of any size at any location, they can even apply for housing grant,if they buying an HDB flat for the first time and have not enjoyed a housing subsidy before.

    Quote Originally Posted by Lucas
    I thought ONLY single (ABOVE 35 years old) can buy RESALES HDB 3-room and below in NON-MATURE estate??

    Now you see why MM unit are popular to SINGLES?

    Do you see why MBT will be anxious? It will be an embarassment him as it will go against National policy, . You get it?

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    mr funny is offline Any complaints please PM me
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    http://www.straitstimes.com/Think/St...ry_454501.html

    Nov 15, 2009

    YOUR LETTERS

    Why singles opt for shoebox apartments


    I refer to last Sunday's editorial, 'Tiny flats a good buy?'

    The main reason such private shoebox units have taken off is that many singles who want to live on their own are unable to afford resale HDB flats because of the high cash over valuation (COV) amounts which sellers demand.

    Singles who generally have savings of between $20,000 and $30,000 will thus opt for a private shoebox apartment because that sum can cover around 5per cent of the purchase price.

    Going for a resale three-room HDB flat, for instance, would require one to set aside some $30,000 to $50,000 for renovations.

    Buying a new private unit would mean less hassle with, and expense on, renovations as almost all fixtures are provided.

    One may just need to spend on some simple electrical works or decor for a new 'mickey mouse' studio.

    Single Singaporeans also compete with permanent residents for resale HDB flats. The demand for such flats outstrips their supply, thus pushing up their prices even more.

    I live with my parents in the Bedok Reservoir area. Finding a resale HDB flat that is within my means is not a problem, but those available would likely be located much farther away - such as in Jurong West or Woodlands.

    Considering the heavy first-time cash outlay for a resale HDB flat and an undesirable location, I would rather get a private shoebox apartment, where I would be at least near my parents and have my own space as well.

    Tan Chun Meng

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