When it comes full circle

How many of your friends are downgrading? How many have sold their landed properties or condominium and gone back to stay in a HDB flat? How many have gone on to stay in a HDB studio apartment, the one room cum all type?

It was not too long ago when Sinkies were buying into HDB flats as their first property. Then the prosperity crept in and everyone was upgrading to private and landed properties. Now it has come full circle, many are downgrading to where they started. Your life is getting better.

As they said, come naked, go naked. The thought of going naked is going to be a stark reality that many Sinkies will have to reckon with when everything is gone. The prosperity of Sinkies cannot last more than one generation or 99 years. Everything is reset at 99 with many resetting now. The million dollar HDB flat or private condo will also be reset to zero.

The race is who gets reset first and who last.


Anonymous said...

Will the circle be unbroken
By and by, Lord, by and by
There's a better home a-waiting
In the sky, Lord, in the sky

Anonymous said...

STForum - Online only

[A question of fairness]

"I AM a 66-year-old retiree
living in a condominium unit worth about $1.35 million.

I have never forgotten that the appreciation in value of my home
was possible only because of good govt policies and planning.

If I should need cash one day,
I will sell my condo unit and downgrade to a 3-room HDB flat.

Lee Hong Leong"


Anonymous said...

Sinkies like this Lee Hong Leong are so lucky. The next generation will be luckier. They could sell their HDB flats for two millions and their private properties for tens of millions.

As long as Sinbkies only think of downgrading they will be rich.

agongkia said...

What downgrading are we talking about.Last time your generation only suateng attap house only ok.
Nong nong ago they chase my Ah Kong from the suateng,pay peanut and we have to buy more than 10 pigeon holes which is more than the compensation.
How many suakoos have sacrifice but their land end up being built into condominium ,landed propertes or left vacant waiting to be built for golf courses for the rich.

I would say there should not be any condo or landed private property here.Garmen should acquired all private properties,chongkong and built into HDB flats.One piece of landed property which is occupy by 10 family members can be built into a block of flats that can house 500 residents.
Who say we cannot have a population of 20 million.Who say we have not enough land for vehicles.

My vote to the Garmen if they stop having private property,condo,landed property and make everyone equal by making everyone staying in flats.

Staying in flats should be considered as upgrading and not downgrading.At least my Ah Kong say so.

Chua Chin Leng aka redbean said...

Agongkia, you are speaking a mouthful of wisdom this morning. The whole of Bukit Timah area turning into HDB, top end HDB, and all landed properties converted to HDB estates, sure can have 20 million population.

You are brilliant. All cheongkong by govt. : ) Which civil servant dares to come up with this innovative suggestion?

And from landed properties to highrise HDB is upgrading. Sure man. Going up and living higher off the ground, up, up, upgrading. Thanks for this enlightening insight.

Anonymous said...

Have to agree with Agongkia, 20 to 30 millions in population is definitely possible. All landed property should make way for highrise.
In Vietnam, it used to be standardize house; 10 ft wide by 40 ft deep if i am not mistaken. Owners were allowed to build upwards and could used their neighbours upper floor space if they agreed. So, the more affordable can have 20 ft(wide) x two 40 ft deep upper floors or more.
Now that Vietnam has picked up economically and the average Vietnamese getting richer, landed properties are mushrooming as they do away with the Old Housing Policy.
Lands are very affordable compare to Sin, it is just a fraction compare to here.
It appears that communist countries are not much affected by financial turmoil and they are all doing very fine as far as living goes. And please do not cite any craps about North Korea for i know few are ever there.
Sinkies have indeed come full cycle as Rb puts it and the only difference i feel is that we were subjects of Empire before and now we are subjects of our very own elected Rulers.
To conclude, pigeonholes maybe better than no hole to seek shelter. Brace for the days when one has to wash in the dump house where thrash are stored.

Ⓜatilah $ingapura⚠️ said...

>> How many of your friends are downgrading? How many have sold their landed properties or condominium and gone back to stay in a HDB flat?

None that I'm aware of.

Why? Because they are smart people. The worst time to down grade is when the market is in a downward trend, which is now.

The time to down grade -- for the smart-type greedy profit seekers who like to play this sort of a game -- is when the market is high and getting hotter. You sell up your expensive big condos -- all of them (becasue of the new laws), and buy HDB, and hang onto your excess cash, preferably hiding it offshore or in financial instruments.

Then when the market tanks, you go bargain-hunting. During a downturn, you have cash. Cash is king, therefore YOU are king.

Are you greedy enough to play smart?

b said...

Downgrading or upgrading only makes the lawyers, movers, renovation, furniture shops and stamp duties dept gets richer and richer. The people still loses out one.

b said...

I forgot to put in the bankers. Up or down trend, the pro ahneh party is still the winner.