33 HDB flats were sold in August 2022 for more than $1 million.
This is a classic panic situation.
This is how a bubble builds up.
It can happen to any market.
The HDB property market is just one of them.
There are more than 1 million HDB flats in Singapore.
There should be more than 100,000 owners of flats in the category that are being sold for over $1 million.
With rising prices, most of the owners prefer to wait and see the prices go up further.
Only 33 were willing to cash out.
There must be several hundred buyers who are willing to pay more than $1 million.
Suppose 500 owners decided that they better cash out in this hot market.
The price will drop below $1 million.
This should also happen when the govt decides to increase the supply of HDB flats.
The era of million dollar flats may be temporary, or transitory.
With rising prices, most of the owners prefer to wait and see the prices go up further.
Tan kin Lian
8 comments:
1) Those who are the urgency of a bigger home.
2) Those empty-nest elderly who may have sold their private homes who are cash-rich?
3) PRS who lack the requisite to buy directly from the government.
4) Business people who may have cash out on their private property demote to HDB?
Unless they are migrating, replacing into another property should also be high-priced.
Unless there are options, desperate people will pay for a spacious home in times of pressing needs.
All these headaches came about due to an unfit and lack of foresight government. This is not an exaggeration.
Good character did not translate to a good working attitude or leadership. They are living proof.
How many ministers past and present do not live in big landed homes?
In third-world countries, ministers had to be corrupt in order to afford it?
As for the rest of us majority, of our places belong to high-rise pigeon holes.
Wonder how true blue S'poreans feel when they are not eligible for reasons and have no opportunity to make big bucks from taxpayers' money that sponsors the sale of all these limited edition homes. Fuxked country.
What kind of contrast is this? A lot of young people have been messed around with getting a flat now.
Some lottery winners are selling them for huge profits.
Are public subsidized flats a home or a business?
This is what happens when we have goons in charge not alert to their surroundings.
This one arh, my housing agent teach me one.
Sell our private fully paid private property and then hah, decouple.
Use one name buy big resale HDB to stay and another name buy one small small private to get rental income.
This type of lobang who dun want huh?
This property cooling measure is justifiable and genuinely targeted.
This good case scenario was measured why? On rare occasions zero Pay And Pay.
Hand, Head & Heart.
Now people cannot say, " This government is all about money."
We don't hear of public hospitals complaining about incurring a loss.
We don't hear about public schools incurring a loss.
We don't hear about the 100 billion dollars incurring loss throwing out like confetti to banks and large organizations with profits of millions.
We don't hear about Changi airport incurring losses!
They better come out with answers more hospitably because people are really sick of their degrading answers!!!!!!!!!!!!!!!
HDB will incur S$270 million development loss from Central Weave BTO flats in Ang Mo Kio, says Desmond Lee
LUI THAI KER.
On the "shrinking" sizes of HDB flats
Liu said that the "shrinking" sizes of HDB flats was "something to worry about".
However, the Ministry of National Development (MND) said that the sizes of HDB flats have not changed since 1997, according to a parliamentary reply to Sengkang GRC Member of Parliament (MP) Louis Chua Kheng Wee Louis earlier in April this year, though flat sizes did indeed shrink quite considerably in the 90s.
In a reply to The Straits Times for an article in 2011, the HDB said that flat sizes were reduced in the mid-90s in response to shrinking household sizes and the need to use land more efficiently.
Liu recounted how he pushed the government to increase flat sizes during his time in HDB: "During my time, and through a lot of research, I actually recommended that the government increase the one-room flat size from 24 square meters to 30 square meters."
"I proved it to the government that if you don't do that, people cannot live properly."
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