The latest Certificate of Entitlement(COE) bidding exercise saw the COE for a small, ie 1,600cc car and below hitting a record of $103,400. This means that to buy a small car, the buyer must pay $103,400 for this piece of certificate before he is eligible to buy a car that is priced with at least 150% tax levied on it. A small car will thus cost about Singapore $153,400! For bigger cars, the COE is $123,000!
And the COE is valid only for 10 years. After which the owner of the car must pay for another COE if he wants to keep the car or buy a new one. And the Singaporeans are not making a whimper about this. Either they are resigned to this fate that they are not going to be able to buy and own a car, or they are so rich, so what is another $100,000 to buy a piece of paper.
Then there was the 1% GST increase this year from 7% to 8% and this will be 9% in the beginning of 2024.
Would all these increases make Singaporeans unhappy and protest in the streets? Not at all. Food prices of everything, including the basic necessities and food at hawker centres, price of a cup of kopi or tea also up by at least 10 %, are all well absorbed or accepted as the price to pay for living in this great city called Singapore.
For the poor expats, some are crying as property prices also shot through the roof making rentals to go up as well. As for Singaporeans living in public housing, it means that the value of their HDB flats also goes up, some hitting $1m an unit, competing with Hong Kong to be number one. How can Singaporeans complain when they are now owners of a million dollar public housing flat? They are happy of course. The only unspoken secret, the value of their 99 year leasehold public housing will come to zero when the lease expires. But that is a problem in the distance. Who cares.
Singaporeans are going about their lives feeling rich and good. Thanks to their good government and good blessing. Every Singaporean must be hoping that their HDB flats would go up higher in prices. How about $2m a piece? As for those owners of private properties, they wear their big smiles in their sleep. The govt is making all Singaporeans becoming millionaires and multi millionaires without having to work for it. Let the properties do the working.
Now you know why ministers are paid in the millions, more than the President of the USA. They deserve every cent of it. And for their great efforts, how about a pay increases for the ministers and MPs?
29 comments:
Rb
RB life is difficult enough in sg and for suggesting to give the politician a raise to make it even more difficult. U ought to be sodomized jialat jialat
Without the good works of the ministers, how could Singaporeans afford to pay $100k for a COE?
Without their good works, how could HDB flats be at $1m?
They deserve a pay rise. They also affected by high cost of living.
How many car owners would pay $100k to renew their 10 year old cars?
For the poor like me, talking about COE is beyond my circle of thought, not to think of even being able to afford a car.
My main pre-occupation is the escalating cost of daily living. Eating out is getting prohibitive and some even said such a natural habit before, is now bankrupting them. I could not agree more with that.
On the other hand, even cooking at home is not cheap anymore as prices of ingredients are increasing almost daily. Sometimes it really shocked me that what you buy today goes up in price compared to what you paid yesterday for the same stuff. It is getting really ridiculous. Has Red Dot really become a 'boh cheng hu' country like Zimbabwe? Oops, cannot be as COE collection still shows there is a Government collecting that. LOL
What happened to the Government's watch on 'profiteering' and what is CASE doing? Or is CASE still in existence? Or is the organisation just sitting tight and waiting for a complaint being lodged before acting?
Good Riddance !
So long Singapore: Expats flee city as rents go through the roof
While there are no official figures, a growing pool of expats are leaving Singapore because of soaring rents, prompting concerns about whether the Southeast Asian city-state is at risk of losing its allure as a regional business hub.
Average rental prices in Singapore, where about 40 percent of the population is foreign-born, surged by 30 percent in 2022 – the fastest pace in 15 years, according to data from Singapore’s Urban Redevelopment Authority.
The surging prices have been blamed on a range of factors, including a shortage of housing supply due to pandemic-caused construction delays and strong demand from companies and talent to relocate to the city.
The number of Employment Permit and S Pass holders – the main visas issued to foreign professionals – grew from 323,500, in 2021, to 365,200, in 2022.
International and local business communities here have also raised concerns over the rising cost of residential and office spaces.
Seven in 10 foreign and local businesses are ready to relocate staff if costs do not come down, while half of expats who renewed their residential lease recently saw their rent rise by more than 40 percent, according to a survey by the European Chamber of Commerce in Singapore.
,Compete with Singaporeans for scarce resources,
Many expats are also choosing to downgrade from private landed properties and bigger condominiums in Singapore’s city centre to smaller apartments and even public housing in suburban areas.
https://www.theonlinecitizen.com/2023/04/19/kf-seetoh-questioned-the-justification-for-s2-26-million-expensive-tender-for-roadside-pasar-malam-space/
The recent Hari Raya Bazaar was Biden for 2.26M and the rentals per storey at 20 to 30K just for this period of Bazaar Real BAZZAIRE.
The Daft Sinkies also rushed in slogging under shine and rains last few weeks mostly shines at 39 degrees.
You think these vendors paying 20 to 30K will charge you 10 cents and twenty cents?
Sinkkeland so called open markets had many mentally sickos charlatans capitalists sucking the blood of ordinary peasants. This bid then paid to the P.A. the wing for PAP.
In return as in a vicious circle the peasants will also slaughtered their own peasants for their survival.
Related one leak from an ex-colleaugue who was an ex-RC aka should be called BC vi's Blood (Sucking) Committee.
You know next to Eunos MRT there is a Big Wide Field also under another blood sucking Authority or Dirty called SLA.
This monies making field used to have also bazaars for all sorts of occasions just pitched tents and marquees and make monies lah for BC aka RC and Other Government Authorites lah.
Also now the TEL China Town now MRT station which before usually for CNY's Bazaar. Big plot of Land near the HDB block opposite Maxwell Market.
Now back to Eunos. At that time at 10 to 20K for a stall.
Wah piang at this rate have to really slog like a cow just to make some profits. For one month not for a year.
She told me secretly as we are both Managers that their RC or BC (Blood Committe) made do much profits just for a damn bidder tendered for a few millions and that's it.
They just supervised that all is in order.
Now comes the best news the monies that the made were spent in overseas holidays for all the RC or Blood Committee family members.
Wah Jeju Island here we come mu whole families and all.
The P.A.Expenses are all by the own with no inferences from anyone. As related in.the Parliament.
So suckers the Master Chefs and Vendors you are been suckered for your foolishness.
Will relate another one daft Sinkie why many willingly to pay sky high COEs just to own their stuck with love four wheels.
Cheers
It is really mind boggling bidding S$25,000 for a bazaar stall for just a month. Wouldn't keeping that S$25,000 be better than having to bring in S$50,000 to make S$25,000 in profit? Making S$50,000 in sales means a daily take of about S$1,700 per day.
One thing I learnt about buying from a bazaar. You are paying an arm and a leg for the same stuff you can get at the neighbourhood shops. I never would buy anything at a bazaar. The other point is, if you find that you bought a faulty item and wants to exchange it, they will never allow that and claim that you did not buy from them in the first place. Then, there is of course the fact that there is no shop for you to do any exchange when the bazaar ends, if you happen to buy on the very last day. But there is always that stupidity has no cure sickness that never go away. Little wonder scams are still reaping in the dough even though the warnings are so frequent.
Why Sinkies willing to pay last time ok 80 to 90K and now 100K just for a piece of damn paper that costs maybe high-class quality one of one dollar plus.
Because so many are love stuck with the four wheels.
Not four eyes.
To them, aiyo own one means in a way you had arrived you know. CNY's visits oh you drove here?
Wah piang ah sai leh!.must be doing well OK haha?
When on the road at ref lights traffic lights junctions looked right looked left. Hey! Anyone see my new car or not?..Number plate SYY or SCC aka see see also see see liao installments going to kill me for the finance loans.
Got see or not COEs already 100 over K excluding the car you know?
Want to know how much total?
When a Mat from Matland parked beside it the driver will sniggered. For that amount I'm my Matland land, I cam buy four to five of the same model.
Also if just buy one can have balance buy a posh apartment with big balcony.
Sinkiekand Pigeon holes all no balconies all four walls clamped together.
What's a sucker this guy is and he thought he is One Up Rich?
Now the best part of why Sinkies wanted to own a four wheel treasure.
Many took to the roads and became own bosses lah.
Freedom gig gig giga entrepreneurs.
So called own bosses but still under the balls of their capitalists bosses who conned the Daft Authority that they are top class invocation High tech companies just with apps for bookings private taxis.
So same Time had a treasure set of wheels as own to show off and also same time earned monies lah yo feed families and pay installments.
They are so precious that some also see some with cumbersome baggage also don't want yo be hired.
One time called a Grab or Go and Jerk PH. Cab.
Had one foldable bike for my daughter's pigeon.hole.
The young punk PH.cab.came and one look refused to be hired.
Told us that he is not supposed to take this type of bike on his precious car which costs 180 plus K as will maybe caused.damage to his treasure.
Said must cancel.call and foreit the booking fee and asked us to call for one.that can take this type of baggage.
An old uncle with his not so new treasure one as owned by this high class Private Car Hirer took us there without any complaints.
Just see how choosy and high tech even these type of punks gig gig Gila freelancers are.
No wonder all the Foreign Talents took over all the Management Professions.
Just one last word. Many owned all these 100 over K treasures but still unable even to bear a one or two dollar parking fee by coupons parking that the Smart smart alecs think tanks authority implemented barriers parking so that you cannot escape paying your dues.
So see why Sinkes willing to pay 200K for their four wheels.
Even COEs up to 200K also goy buyers lah.
Never realise that Sinkeland is going to follow the Americunts into a deep recession and depression.
Many would be depressed and Buangkok.will have big businesses.
Sin is heading for doom is obvious.
Oops,
l like to correct
myself,
it is Sinkies that are doom.
Sin is a heaven for the Ruling Class anf their Cronies.
The outlook for ordinary Sinkies is very bleak, very bad. No good future awaits. No hope for a better life.
The outlook for elite Sinkies and new citizens is very bright, very good, as the current system greatly favors them. High income, good life.
Sinkies are doomed without pride, paying high price for foods and need to return trays. Also expected to clean table using own cleaning materials which are not provided. In some Hawker centres were entertained for months at end to see shit related brainwashed video clips.
Hi RB, although Singapore is an expensive city to live, you have a good government to make sure things go smoothly and people are safe and happy. Cost of living is rising but your government gives out vouchers for GST, NTUC purchases and hawker centre food. Why complain so much? Your PM already said that the government needs to cooperation of all Singaporeans to build a better future. So, give them your support and look forward to a prosperous Singapore. If COE is too much, don't own a cor. Use public transport. If cannot eat in restaurant, eat at hawker centre. so don't complain, love Singapore.
Hi Anon 4:30pm, you are right. Many Singaporeans agree with you. That is why everything is so smooth and fine.
More pay rises for the ministers.
Salary revision for Ministers and political office holders due this year. With COE, property prices and cost of everything at record highs, can expect their salary increases will also be at record high. They need to maintain their Swiss standard of living.
I am sure the test balloons have been floated for a ministerial salary rise. These poor ministers having to sacrifice their talent to serve Singaporeans. If they were to work is any commercial enterprises they could easily make double the minister's salary or even triple. So when the salary rise for ministers is announced ( which will be soon ) please be thankful and clap and show your approval. Please do not be envious. They really deserve the modest salary they are getting.
After reading all the clear cut encouragement, they really deserve a salary increase. After all, the million dollar properties have made Singaporeans all millionaire property owners, and property prices are still breaking records every day.
Not to forget your car values are also increasing, with COE's also breaking records after each bidding session.
Hi Anon 8.48
I forgot to mention in my earlier post now then I understand why so many of our estates retirees past 70 plus still in office attires with ties and all working past most retirements ages and some I met and talked to them even as night auditors and also as botutique hotels receps when most as same time pioneer Residents must had fully paid all their flats mortages.
Now i then realised as most if not all drove.
Oh, they are all still slogging for the sake of their beloved treasures four wheelers.
No wonder still working hard and the Papies took great price that our Singaporeans loved to work beyond seventies and eighties for their independence.
Oh for the sake of their four wheelers lah. Some gave up later as renewal of another five years COEs are beyond their reach.
As their monthly grinds are enough to maintain their treaures month to month only.
Not enough to renew even five years Extortion Paper.
Also wah sei man now Sinkies also delighted that old cars can still fetch high prices just like their former cheap cheep flats.
Wow Sinkies are real smart in their investments even in depreciating vehicles years on years.
Now I realised why Sinkies invested so much in their properties and cars
Sure Huat one!
Cheers
Also forget to mention "PRESTIGE"
You got car or NOT? I have Car you know. You walk only your Kars (Legs)
Thats why I die die must still work for my Car NOT kar aka legs lah.
https://www.channelnewsasia.com/singapore/tender-geylang-serai-ramadan-bazaar-not-awarded-highest-bidder-3434511
Wah piang the bid is not given to the highest bidder.
What's happen if given to the higher bidder?
Stall rental at 50K or 70K?
You die your business. My business is to make as much as possible.
Who ask you to rent and slog twelve hours a day?
Papies encouraged you ah?
Now the indepth professions for Sinkies?
I agree with you that everything pay raise to Singapore government ,need a change.
www.balitourpartner.com
RB u have a fair bit of influence on many people. Pls reconsider your position. Else like the earlier dude. U really needed to be sodomized to wake up
Coe is too high, don't own a car or motorbike, take public transport. Don't want to spend money on public transport, ride a bicycle by refurbishing those that are abandoned.
Hawker centres too expensive, learn to cook at home to save money. Want to save more money, drop by those temples that offer free lunch. Apparently second helpings are given as well. Make sure you gobble as much to cover lunch and dinner. Learn to source for food items that are about to expire or have expired at big discounts. Not least, you can save water by using public toilets, some even have a hose to facilitate bathing.
It is a fact Singapore is the most expensive city runned by the most expensive government. But the pap government buggers deserve their multimillion salary for ensuring singkies are the most hard working on the planet. The master and slave relationship has worked pretty well for Red dot, hence singkies ought to be super grateful and find ways to work harder. Because if your butt does not hurt, you are obviously not working hard enough.
Stupidity has no cure!
Can also ask Grab riders to deliver on foot if cannot afford a bike or take public transport. That will be an even better great idea. What a great mind thinking alike like the ruling elites. These grab riders are going to earn a pittance and will have to depend on temples for free food. There are others that needed a car or motorbike to earn a living.
Sure, drop by a temple for free food, as if public transport is free. Is it a sure thing that there is a temple near every block, and every temple nearby serves free food? Even giving hints about where to get the cheapest char kway teow is a joke, if you factor in the cost of taking public transport to eat there and travel back, it is even more expensive than eating at a nearby coffee shop.
I think somebody is encouraging living on the streets like they do in California. The Government over there even call it a lifestyle of choice. Hope it catches on here in Red Dot. The PAP surely need more people with such great ideas. Will someone please apply to be a NMP. I think the application is still open.
Singaporeans have started to become freegans, a choice lifestyle. Every night search the rubbish dumps for discarded food. Free food, so good, eat until so happy.
The foreign workers are eating better food in the dormitories than these freegan Singaporeans.
Hi Anon
Papies employed all these so called."Shocklars" NOT to think tanks how to rejuvanate and expanded our econmy but How to Slaughter fellow Sinkies.
Ours internal economy of construction construction of BTOs aka Business To Otak you daftees.
Had millions of locusts of Papies Rich Sugar Daddies and Mummies in to trickle down their Shits on you.
Now became experiencd Mummies Brothels owners.
That's their auto pilot administration.
There are about 1,000 homeless people in Singapore. Hope this is the impetus to start a new 'Lifestyle of Choice' available for adoption by Singaporeans, if the cost of living goes out of control.
Red Dot still has a lot of room to catch up with the USA, with the latter boasting of its tens of millions of homeless people camping on the streets, sleeping, peeing, pooing and reproducing.
Hope Red Dot is not taking a leaf from the USA sliding from first world to third. Oops, cannot say that about the world's number one economic power. There are good things to follow and bad things to avoid. Unless our leaders have lost the ability to think like those USA weasels.
Using the COE to limit car ownership seems necessary, however, it is implemented wrongly. Car dealers should not be allowed to bid for the COE, because their objective is to sell cars when they can get the COE. The bidding should be by the car buyer themselves who can decide how much they feel it is worth to get that COE.
LTA may have missed this important fact in their implementation, hope they can make corrections and bring COE to its real value as determined by the car buyers.
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