How much are you earning per annum?

Actually the other bro is right. I had the opportunity to flip twice, first with my BTO and then with my EC. I made $300k profit with my BTO in Bukit Batok and then $500k with my EC in CCK. I made so much, the total profits was worth 20 years my annual income. Crashing the market by blindly oversupplying the market is not the best thing to do as most demand is speculative, not for own stay. The idea to sell back to HDB at cost price is good idea.

Originally Posted by Unregistered

Well let's focus on what we agree on. I agree that restricting BTO buyers to selling back to HDB will resolve this issue, but its politically unworkable.

People want their cake and eat it too. Everyone complains about high HDB prices, but the one solution that will guarantee them cheap house prices, everyone rejects because everyone wants to sell their BTO for a $400k profit.

On increasing BTO prices, I have said my piece and you haven't convinced me, so we agree to disagree. I maintain that when you see a bubble, you should prick it, and try to prevent the air from coming out too fast. You let to burst itself and you may land up like Spain, Ireland, Iceland, US and countless others.

Those who do not history's mistakes are doomed to repeat them.

Sitting behind an anonymous screen and typing out insults is not the most mature of activity, so I will refrain from this.

Good day to you.

Just to point out another angle as to why property in Singapore is a good long term hedge. The other points about limited land, decreasing value of money, and the projected population to 6.9 mil are already debated to death here.

It is about Singapore government's determination to keep rejuvenating the island to make it attractive for investments, tourism, as a hub for this and that. The amount of money being pumped in into infrastructural development and transportation is very significant. This infra upgrading / improvements all add to the value of the properties in the country without the home owners needing to do anything. A very simple example is when the MRT stations were announced, prices of properties near them suddenly increased by 10-15% even though the owners didn't do anything. Similarly for those staying near to new shopping malls and good schools including international schools.

My issue is not about investing in property in Singapore although I must admit that I have 2 condos. My issue is about missing out on these goodies coming on stream because I will too old to enjoy them. The other is that you need to have good savings to live here. I am aiming to work for another 7 yrs till 62.

Originally Posted by Unregistered

Just to point out another angle as to why property in Singapore is a good long term hedge. The other points about limited land, decreasing value of money, and the projected population to 6.9 mil are already debated to death here.

It is about Singapore government's determination to keep rejuvenating the island to make it attractive for investments, tourism, as a hub for this and that. The amount of money being pumped in into infrastructural development and transportation is very significant. This infra upgrading / improvements all add to the value of the properties in the country without the home owners needing to do anything. A very simple example is when the MRT stations were announced, prices of properties near them suddenly increased by 10-15% even though the owners didn't do anything. Similarly for those staying near to new shopping malls and good schools including international schools.

My issue is not about investing in property in Singapore although I must admit that I have 2 condos. My issue is about missing out on these goodies coming on stream because I will too old to enjoy them. The other is that you need to have good savings to live here. I am aiming to work for another 7 yrs till 62.

This is true when the population is young and the country is quickly advancing from developing status to developed status. After that, most of the available land is almost used up, the population starts to aged, growth starts to slow down...and then of course, property price can't increase in price as before. I am thinking as the population aged and when the world economy stalled in the next 10 years, when everybody try to rent out for a passive income, I see that there might even be a problem getting easy rental income.

Originally Posted by Unregistered

This is true when the population is young and the country is quickly advancing from developing status to developed status. After that, most of the available land is almost used up, the population starts to aged, growth starts to slow down...and then of course, property price can't increase in price as before. I am thinking as the population aged and when the world economy stalled in the next 10 years, when everybody try to rent out for a passive income, I see that there might even be a problem getting easy rental income.

Yes, too many people buying second property for investment. We should ban HDB owners from owning private property. They should sell their HDB flat when they buy private property. This will prevent an oversupply in the property market.

Originally Posted by Unregistered

Yes, too many people buying second property for investment. We should ban HDB owners from owning private property. They should sell their HDB flat when they buy private property. This will prevent an oversupply in the property market.

Agreed that the gahmen should plug this loophole immediately. It is too inequitable and caused unnecessary crunch on HDB and artificial demands on private properties.

Another thing is whether the gahmen has any idea on the demand side versus the supply side. Should they stop / slow down land sales already? There is no need to worry / cater to those rich Singaporeans. If there are no more properties to buy here, they can always take their money elsewhere - M'sia, UK, Oz, US, etc

Originally Posted by Unregistered

Agreed that the gahmen should plug this loophole immediately. It is too inequitable and caused unnecessary crunch on HDB and artificial demands on private properties.

Another thing is whether the gahmen has any idea on the demand side versus the supply side. Should they stop / slow down land sales already? There is no need to worry / cater to those rich Singaporeans. If there are no more properties to buy here, they can always take their money elsewhere - M'sia, UK, Oz, US, etc

If they plug this loophole, HDB prices will fall dramatically. This will make the shaky situation worse.

Originally Posted by Unregistered

If they plug this loophole, HDB prices will fall dramatically. This will make the shaky situation worse.

We must also ban PRs from buying resale HDB flats. They should only be allowed to rent or buy a condo. HDB flats should also not be allowed to be rented out. PRs are pushing HDB flats prices higher. The HDB market should be closed only to Singapore citizens. PRs and other foreigners should only be allowed to play the condo market. It is ok if condo prices go up further, doubling from today's prices, as this is the private market. As long as the HDB market is affordable to local Singaporeans, then this is ok.

[Wiseman1]

Originally Posted by Unregistered

Zhang, you sound as stupid as stupidman. Building and building new property will create oversupply and eventually crashing the market. If the property market crash, we will have a financial crisis, the banks will go bankrupt and you will be the first to be fired for your stupidity. The demand for property today is very much speculative. People buying second property for investment. People buying cheap BTO to flip. Even parents helping their children to buy BTO to flip even though the family already own multiple properties. So, that is why we have to stop all these non genuine demand by increasing the price of BTO flats so only those who really need a place will apply. Or else, change policy such that whoever sell their BTO after MOP can only sell to HDB at the cost price. So, in this case, there is no flipping intention and demand will definitely fall. Only those who buy to stay will apply.

I dont even know why me and Zhang would bother to respond to an idiot like you, I may sound uncivilised here but I dont need to think too much when talking to idiots. You probably have both foot stuck so deep in properties that you would go bankrupt tomorrow if the property market crashes today. And I hope you do.

On grounds of sympathy I try to enlighten you a little here:
(1) Resale prices shot up in recent years because of demand and supply imbalance; this is solely the government's fault. They let in too many new immigants within a short period of time and build too little new flats to cater to new family formations. So you have these 2 groups of people driving resale flats demand and jacking up prices. This is market driven...flat owners did not deliberately jack up resale flat prices. The fact that they make fat profits is a consequence of market forces.

(2) The solution is to build more new flats to meet demand at cheaper prices (we all know new flats today are grossly overpriced by factoring in vaguely calculated land costs). At the same time, HDB flats should be sold back to HDB only at cost plus inflation. It should not be sold in the open market. HDB would sell flats directly to new PR. This would definitely tame the demand and prices for HDB resale flats, and all the rubbish speculation now happening

(3) If you want to upgrade to condominium, then start saving up for it the old fashioned way. Dont count on flipping the HDB flat for fat profits to upgrade

(4) Property developers would have no choice but to lower prices. There is no way HDB upgraders can stomach the current condo selling prices if they cant flip their HDB flats for fat profits. And this should be the way. If developers start making huge losses and go bust, so be it. They go into this game with their eyes wide open.

(5) The same thing goes for property investors. If you cant stomach falling prices, it is your own fault for being overly optimistic and bullish and not using your brains. Only a painful lesson would wake you up!

[Wiseman1]

Originally Posted by Unregistered

Actually the other bro is right. I had the opportunity to flip twice, first with my BTO and then with my EC. I made $300k profit with my BTO in Bukit Batok and then $500k with my EC in CCK. I made so much, the total profits was worth 20 years my annual income. Crashing the market by blindly oversupplying the market is not the best thing to do as most demand is speculative, not for own stay. The idea to sell back to HDB at cost price is good idea.

Well done! After you have made the $800k fat profits then you suggest selling HDB flats back to HDB at cost. No brainer right??

[Wiseman1]

Originally Posted by Unregistered

Just to point out another angle as to why property in Singapore is a good long term hedge. The other points about limited land, decreasing value of money, and the projected population to 6.9 mil are already debated to death here.

It is about Singapore government's determination to keep rejuvenating the island to make it attractive for investments, tourism, as a hub for this and that. The amount of money being pumped in into infrastructural development and transportation is very significant. This infra upgrading / improvements all add to the value of the properties in the country without the home owners needing to do anything. A very simple example is when the MRT stations were announced, prices of properties near them suddenly increased by 10-15% even though the owners didn't do anything. Similarly for those staying near to new shopping malls and good schools including international schools.

My issue is not about investing in property in Singapore although I must admit that I have 2 condos. My issue is about missing out on these goodies coming on stream because I will too old to enjoy them. The other is that you need to have good savings to live here. I am aiming to work for another 7 yrs till 62.

Definitely an old man still thinking the old way. Your pitch is perfect. Go and be a property agent as a second job. My advice to you is not be greedy and sell off your 2 condos while you still can secure good prices...