6/17/2011

DBSS flats are affordable

The latest launch of DBSS flats in Tampines is looking quite good with comments from those interviewed that the prices are reasonable and affordable. 3 rm units cost between $400k to $500k, 4 rm from $530k to $680k and 5 rm units from $685k to $880k. Though the prices are comparable to some private developments, all those interviewed have only good things to say about them, good location and good facilities to justify the price. No one is complaining about not being able to afford them.

I think they will sell very well. And those interviewed are relatively young people. I am really impressed by the number of young people who are doing so well and find spending $600k to $900k for a flat affordable. Don’t expect HDB prices to come down when people have no problem paying for such flats. This is the best confirmation that property prices will remain solid like rocks.

There is no need for Boon Wan to raise the $8000 ceiling. Maybe those interviewed have combined income of $15k or more.

59 comments:

Anonymous said...

Apparently they bought it at only 280 psf but am selling it close to 800.

i am quite surprised that a couple earning 10k presumably can afford the mortgage required for an 880k HDB flat.

I can only wish that the property market crashes with lots of unemployment and burn those speculators and young couples who don't think, and have to be labelled bankrupt at a young age.

That would be interesting....

Pity the daft Singaporean

Anonymous said...

I think this is good value. Got potential to make some profit when it hits $1m.

Cheong ah, huat ah. Many will be queuing up for the potential profits they can make from this great development.

Anonymous said...

Smart Singaporeans should quickly snap up whatever property at any price now. For the next 5 years there will be plenty of money to make.
Our young people are lot smarter than the older folks who only know to whine, complain and cry, what a pitiful bunch!

Anonymous said...

fully agree. just close the eyes and buy. small piece of land, increasing population. sure win formula to buy properties.

take my advice, go and buy, take loans never mind, interest rate very cheap.

Anonymous said...

It seems that with a new housing minister, the property market is prospering like the casinos.
See how effective our leader(s) can be? How can Singaporeans not appreciate the calibres in our cabinet?

Anonymous said...

Boon Wan is obviously more worried about property prices coming down than going up, judging from his comments a short while ago, about his fear of a private property crash.

Just whose interest do you think figures more importantly in his mind? Making sure young people can afford HDB flats? Those comments from the buyers, every time and all the time on National TV, would put to rest whatever questions we have been asking over the years about affordability.

So, HDB under Boon Wan is still full steam ahead and more up, up and up.

The former Hell Minister is here to stamp his mark in MND.

Just sit tight for the ride. To hell I mean.

Anonymous said...

Sit tight and wait to become instant millionaires when 3 room flats reach the million dollar mark.

Wow, just think of it when the whole island will practically be inhabited by millionaires. No beggars, no cardboard collectors, no toilet washers and no table cleaners. Just all self made million hairs enjoying free and easy lifestyles. Another wow would be appropriate.

Singapore boleh!

Chua Chin Leng aka redbean said...

Boon Wan said DBSS is not HDB. Are DBSS flats subject to HDB condition? NO? Is the $8k/10k ceiling applicable to DBSS?

I think despite the initial noise and calls for boycott against the DBSS, sales would still be very good. Why? Many young people will still have a knife held against their throats, buy, your income too high, HDB not going to sell you.

Those poor young couples would have no choice but to buy. Sales of DBSS is more or less guaranteed. The developers know that some of these young couples would be forced against their wills, to empty their savings to buy these flats. They are considered high income earners and can afford to spend all their savings at one go.

Clever scheme. Just keep claiming that no one is forced to buy these expensive flats. I am so innocent.

Anonymous said...

Say anything any wishes to, but, bear in mind the Housing Minister NEVER forced anybody to own or buy anything.
The Housing Minister will let the market forces run it's course, be it pricings and sizes of the dove cages. Some may see it as his duty to 'manage' or sets rules. However, he(minister) may wish to give 'freedoms' to Singaporeans and foreigners to do what they like. Don't ask me then what is the Minister for, for I am as blur as anybody else. If I am a minister, I will be very happy to give You all the freedom so long as I receive my salary.

Chua Chin Leng aka redbean said...

Yes, no. Though mean testing was never mentioned, it was in force with the income ceiling imposed and the young have no choice but to buy. Yes, the minister did not force them to buy, just like saying DBSS is not HDB.

What choice have the young people got?

The said...

redbean - I think you should clearly mark this piece with "satire/sarcasm" - read with a pinch of salt.

HDB should not introduce this DBSS. It is either public housing, or not public housing. One the one hand, they let the private sector design, build and set selling price. Of course they will throw in all the bells and whistles of private housing. Looks like and smells like private housing. OTOH, these housing are also entitled to housing grants for first time buyers - smells like public housing. And using taxpayers money for those grants/subsidies. This is wrong - using public funds for private housing.

Just stick to the normal HDB housing and BTO.

Abolish DBSS henceforth.

Anonymous said...

Should abolish all the nonsense and just call it public housing. Then I can assure you there will not be so much differences in terms of pricing.

The whole problem with humans, and Singaporeans in particular, is too much attachments to egos. They try to show off by eating at posh restaurants and complain about the price when they get clobbered and they tell everybody about it.

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