Property sales and prices going up

These must be good news. And the better news is that more of the buyers are HDB upgraders, 46% of them. The actual number is 673 for the 2Q of 2009. It is good to note that HDB upgraders are able to move on to the private property market, thanks to the higher resale values of their HDB flats. The other side of the coin is that with resale prices going up, prices of HDB flats, new and old, will also move up accordingly. While the upgraders have the benefit of owning flats that are appreciating in price, the new buyers, those who have yet to buy a flat will have something to worry about. And with their income not keeping pace with the rising prices, the new flats that they are going to buy are going to cost them more. But they should not worry as there will be more new flats being built in the new towns. And if they cannot afford 4 rm flats, go for cheaper 3 rm or 2 rm flats. They must tailor their expectation according to their income level. This is only a reasonable advice. Would we reach a stage when our young graduates could only look forward to buying a new flat in a new town, and probably a 3 rm one as their income will not be enough for the bigger flats? We used to have graduates being seen as someone who have made it and on a career path that will lead to a better lifestyle. With the rising HDB prices keeping up with market prices, future graduates should attune themselves by lowering their expectation of bigger HDB flats or private properties in their first buy. Things are different now, and they got to get use to the higher cost of everything.

Singapore River Festival

Just a few pics of the Singapore River Festival that I shot.

Tan Kah Kee Station

How can we called an MRT station Tan Kah Kee Station? Who is Tan Kah Kee to deserve such an honour? Never heard of him or his contribution. A better name for that station should be Queen Elizabeth Station. This will remind everyone of the royal neighbourhood of Duchesses and Kings and royalties. It will also remind Singaporeans of the great contributions of our colonial rulers. These are the legacies of the neighbourhood according to Leslie Raj. Actually I don't care a damn about the royalties. To the many ignoramus, the piece of land which Hwa Chong sits was donated by the philantrophist Tan Kah Kee. That piece of land is as large and as far as the eyes can see. For those who only know the value of money, please count how many condominiums can be built on that piece of land, real prime estate. Tan Kah Kee's contribution was more than that, if one bothers to read the history of Chinese High School and Hwa Chong. Their existence came about by the spirit of the community to break the stranglehood of secondary education for our children when the British govt refused to educate them but only at primary school level to be clerks and office boys. The community stood up, led be Tan Kah Kee, to build the first secondary school for the Chinese community in this island. And Tan Kah Kee donated his treasured piece of land on which the school stood today. That is the legacy of Tan Kah Kee and Hwa Chong. And his contribution is not just in and around Hwa Chong. Tan Kah Kee is most deserving to be honoured by having the station named after him.

HDB lease buybacks is on

The first batch of HDB owners have opted for the HDB lease buyback scheme yesterday. The scheme will ensure that they will have a roof over their heads and an annuity payout for the rest of their life. By this scheme, these people would have some form of income in their old age, a replica of what CPF annuity scheme and minimum sum scheme were trying to do. So, does it mean that now these people do not need to buy annuity scheme or have their CPF locked up in the minimum sum scheme? To continue to retain their money in the CPF will not be accepted as good faith. People will now see the retention of CPF minimum sum in a different and negative light. The money must be returned to these folks as they have made provisions for their retirement and old age. To claim that the amount from the lease buyback scheme is insufficient and the need to continue to hold back to the minimum sum is anything but atrocious. No amount is enough if the reasoning shall go this way.

A proactive and caring govt - A big thank you

In the 60s and 70s, most of the population were living in wooden huts, squatters and cubicles in the city. Then came the govt to the rescue. They built cheap and affordable HDB flats at less than $10k in Queenstown for the people. When the people get richer in the 70s/80s, the govt started to build better and bigger flats, 5rm, executive and HUDC flats for the people. Then came 90s, people getting more prosperous. And the govt was pleased. They started to build condominiums for the people. All still quite affordable. Now comes 2000s, what happens, flats are now too expensive. People cannot afford to buy bigger flats. So comes the proactive and caring govt. It starts to build smaller flats, 2/3 rms and even 1 rm rental flats. The people are so lucky. They can always downgrade. Always a roof of their choice to befit their pocket. Very affordable.