$400k to $500k for 344 sq ft pigeon hole

The housing developers were bragging about the mad rush for 344 sq ft of pigeon holes and buyers willing to cough out $400k/$500k for it. And motor insurance of $2000 pa or about $200 pm, much more than the instalment payment of a OPC. Then $4/$5 for a bowl of noodle. Are these what we called progress, better off than yesterday? Why would people work so hard to earn $500k only to live in a little pigeon hole and feel that their quality of life has improved? What the shit to pay $200 pm just for protection to drive a car and may not even need it for the next 30 or 40 years, but keep paying? Then at $5 a meal and 3 meals a day, it will work out to $15 base. That is $450 min pm. Squeeze to bare minimum, it will still need $300 pm just to eat alone. Shouldn't someone tell those who are jobless and on public assistance to do the natural thing, which is practical, pragmatic and more dignified? We are getting poorer for sure, when our money is buying lesser and lesser things. And we called this progress? But everyone clamouring for more expensive housing as a good thing. Everything must be expensive than can be good. We can afford to pay and pay. 5 years ago I bought a flat TV for $5k. Just bought one for less than $700, and better in quality and features. Oops, I must be wrong. The cheaper one must be of poorer quality. Both are branded Japanese made. We are going crazy or becoming stupid to believe that things will get better at the way cost of living is allow to runaway uncheck.


Anonymous said...

The thing is you do have a choice. Don't want to pay $400k for a pigeon hole, then just don't. The problem is that Singaporeans have swallowed the whole PAP propaganda of home ownership hook, line and sinker not realising that you still do not own the pigeon hole even after you have paid it off. It is one huge scam that 80% of Singaporeans have swallowed. In many countries, renting is a perfectly acceptable and viable option, and some people rent their whole lives so why can't Singaporeans do it too. Of course, for those who can afford it, they are free to pay half a million for a pigeon hole, but for those who can't, they seriously need to accept the reality of renting for some part or all of their lives.

Anonymous said...

what do you expect when the wife of a top PAP leader who came fr a poor home and whose only ambition was to have been a teacher or children book writer,proclaimed that S$600,000.00 was just peanuts,fit enough only for the monkeys publicly and w/o personal apology too.

Anonymous said...

$400K for a 344 sq ft flat is more expensive per sq ft than some of the private condos currently on the market.

Well, as Anon 12.31 pm said, Singaporeans have swallowed the concept of home ownership wholesale. There is no turning back.

Renting is not an option promoted by the regime, and they have made certain that it is not the way to go, not at the rate they were demolishing rental flats in older estates the past few years, just to curb demand, I suppose.

Oh yes, they are going back to building smaller flats now, both for sale and rental, but they certainly will not be cheap, both to buy or rent.

They already thought out their reasons to raise the rental rates of rented flats. It was 'too affordable', so they are making them 'just affordable'.

Anyway, rest assured that whatever they ask you to pay, just believe that it is for your best interest.

God bless Singaporeans to a ripe old age.

Lost Citizen

Chua Chin Leng aka redbean said...

in housing, hongkong is our role model to emulate. pee, eat and sleep in the same little corner and pay a million for it.