Buying HDB flat like trying to win lottery: home buyer
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SINGAPORE - Wendy Cheng, 32, has been trying to buy a home for over two years but without success.
Cheng and her American teacher husband cannot afford property on the open market where a government-built apartment can fetch as much as S$700,000, and they have been unsuccessful in balloting for flats available from the state at a cheaper price.
At her last attempt to buy an apartment directly from Singapore's Housing Development Board (HDB), she was given a queue number of 1,983 for the 200 units offered, which meant she could get a unit only if 1,783 of the people before her dropped out.
"It's like trying to win the lottery," she said of her efforts to buy her own place, a predicament shared by an increasing number of young Singaporeans who feel they can no longer afford homes, unlike their parents' generation.
With general elections likely to be called soon, soaring property prices in Singapore pose not just an economic risk but a political issue that could erode support for Prime Minister Lee Hsien Loong's ruling People's Action Party (PAP).
Singapore private home prices rose 17.6 per cent last year despite government attempts to cool the market in February and August. Resale prices of HDB apartments that house over 80 per cent of the population gained 14 per cent.
The city-state's median household income rose a much smaller 3.1 per cent, or 0.3 per cent after adjusting for inflation, to S$5,000 a month last year.
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MBT said HDB flats are affordable.
Is he telling the truth?http://www.mnd.gov.sg/reflections_housing/article6.htm
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ur MP will tell u.. dun be too choosy hor
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I was in her shoes before, and I believe there are alot more people out there who were in our shoes, and equally lot more currently in those shoes.
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Why not have all the unsuccessfully applicatons gathered outside the hdb hub and stage a protest? Anyway, who wants that?
But then isnt the minister said hdb flat is affordable? And why still have pple unable to landed a flat?
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Originally posted by ditzy:
I was in her shoes before, and I believe there are alot more people out there who were in our shoes, and equally lot more currently in those shoes.
Obviously, those very far away will not be popular among the 1st time buyers. -
Originally posted by likeyou:
Obviously, those very far away will not be popular among the 1st time buyers.My philosphy has always been to buy a cheap house and get a big car. Simple as that.
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dun be choosy.. thing is, the maturing new town new flat prices aren't cheap alrdy..
Sengkang or Punggol can go to like close to $300k
Want ppl to have babies, gibe expensive flats.
More good years to come!
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Originally posted by sbst275:
dun be choosy.. thing is, the maturing new town new flat prices aren't cheap alrdy..
Sengkang or Punggol can go to like close to $300k
Want ppl to have babies, gibe expensive flats.
More good years to come!
How to be choosy when your queue number is 1783 out of 600 units even in tne ulu of all places?
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Originally posted by ditzy:
My philosphy has always been to buy a cheap house and get a big car. Simple as that.
very unique philosphy indeed.Mine is to have a house that can accomondate all my children plus a 7 seater car. (mpv).
The latter will not be easy to obtain, near impossible dream to achieve.
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Originally posted by ditzy:
How to be choosy when your queue number is 1783 out of 600 units even in tne ulu of all places?
Seem like that far away town is not that popular...but if there is a nearby mrt, big shopping center, many food courts, wet markets, schools, cc, and easily accessible via bus and train, then it will attract many pple.If only small shopping arcade, small food coursts, mrt not easy to take, bus also, there will be less pple willing to ballot for it.
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Originally posted by ditzy:
How to be choosy when your queue number is 1783 out of 600 units even in tne ulu of all places?
don't worry. HDB already show they launching 256899632962 homes in the next 3 months....
in a "sudden" twist of fate, everyone will have a home now! amazing, isn't it? -
Originally posted by likeyou:
Seem like that far away town is not that popular...but if there is a nearby mrt, big shopping center, many food courts, wet markets, schools, cc, and easily accessible via bus and train, then it will attract many pple.If only small shopping arcade, small food coursts, mrt not easy to take, bus also, there will be less pple willing to ballot for it.
isn't it e same when Yishun, Jurong East/ West, Woodlands (Blk 100, 300+) was 1st developed?
I still remembered in 1985, Jurong East e bus stop was just a bus stop pole.. It was later on tat proper bus shelters was built.
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I am amazed when my friend told me... BTO takes 5 years.. so after u successfully applied for ur flat, u still have to wait 5 more years before you can move in to your flat.
Think of this, if u get married and then start applying for a flat.. 2 years of waiting + 5 years of BTO building = 7 years... 30 years married... 37 years den get flat... -_-" pay 30 years... 67 years clear housing debt.... -_-" No wonder we need to work till 67. -_-"... -
It pisses me off to read that people are complaining about such things. A HDB flat is heavily subsidized by the government, and so it is expected that you have to wait for things like this. Otherwise, just go buy a condo unit or something. Stop moaning when you get such a huge discount. Just be patient. You still need to wait 3 years after its launch until the construction is complete.
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*ahem*
in e 1980s, govt kept on building flats..
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Probably due to location.
Many pple choose location as their first priority.
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Originally posted by Junyang700:
I am amazed when my friend told me... BTO takes 5 years.. so after u successfully applied for ur flat, u still have to wait 5 more years before you can move in to your flat.
Think of this, if u get married and then start applying for a flat.. 2 years of waiting + 5 years of BTO building = 7 years... 30 years married... 37 years den get flat... -_-" pay 30 years... 67 years clear housing debt.... -_-" No wonder we need to work till 67. -_-"...undergraduates who are at confirm-will-get-married-to-gf stage are already applying in final year of uni studies....
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Originally posted by Junyang700:
I am amazed when my friend told me... BTO takes 5 years.. so after u successfully applied for ur flat, u still have to wait 5 more years before you can move in to your flat.
Think of this, if u get married and then start applying for a flat.. 2 years of waiting + 5 years of BTO building = 7 years... 30 years married... 37 years den get flat... -_-" pay 30 years... 67 years clear housing debt.... -_-" No wonder we need to work till 67. -_-"...You do not have to get married to apply for the flat. You only need to show your ROM cert within 3 months of getting the house keys.
Anyone who has applied thru the HDB webbie using that BTO application form should have come across the fiancee/fiance option, unless they were so ignorant about that scroll down checkbox.
Of course there is a risk of applying early, wait long long and something happens, but thats the system and how it works, so we'll have to suck it up.
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sg hdb balloting is screwed