Garmen say selling HDB at LOSS to PEANUTS...YOU BELIEVE?

[Boyboy]

Let me tell u something which not many people will know. In the past the garment will forcably acquire a piece of land at very very low prices under the land acquisition act, then they will sell the land to developers etc at a much higher prices. The original land owner lan lan lor but what to do? They are the law yeah?

 

legalised robbery

[Comfy]

so power ar??

[Sfhuang]

Let me tell u something which not many people will know. In the past the garment will forcably acquire a piece of land at very very low prices under the land acquisition act, then they will sell the land to developers etc at a much higher prices. The original land owner lan lan lor but what to do? They are the law yeah?

 

Does this mean the Government can also forcibly acquire land occupied by those so-called freehold condominiums?

[Kelpie]

Yes, they can. You get "their" market price in return .

 

Regards,

[King_of_abalone]

hope your dad's business is ok. if need to sell house, sell car, pawn watches or jewellery, do let me know. i'll do my best to help your family out. sincerely, king

[Scion]

its' ok... singapore no earthquake...so, nobody will find out....

 

no prob... anything happens, it's act of god

[Sfhuang]

[Speeddemon]

Think the so called $300,000 cost to build a flat is actually not that far off.....a simple search in the government portal GEBIZ where authorities and stat boards make public their tenders will show that the cost to build flats to be slightly lower....

 

Recent example:

 

Contract to build 8 blocks of flats plus one multistorey carpark with total 738 units in Punggol.

Awarded contract value $154.66 million

 

Average cost per unit? $209,570

 

Another example:

 

Contract to build 4 blocks of flats plus one multistorey carpark with total 384 units in Yishun.

Awarded contract value $83.2 million

 

Average cost per unit? $216,666

 

So maybe cost of $300k per unit only slightly inflated?.....

[Spas]

Only "loss" I can think of are the losses raked up by GIC and Temasek. Those are real losses they've made.

Edited November 20, 2008 by Spas

[Xefera]

cannot be lah, like that how to survive. u mean the contractor and his family and grand children all eat plain rice with salted vegetables everyday?

 

if $300,000 for whole block, then there is a bigger problem they will face during the next GE

[Xefera]

believe my foot! if they dare to do it, then they should be ready to answer for their doings

[BMW320i]

hope your dad's business is ok. if need to sell house, sell car, pawn watches or jewellery, do let me know. i'll do my best to help your family out. sincerely, king

 

ZOMG ! PERFECT TIMING.

 

Father just finished building a 4 story house with roof top veranda. We are shifting in this 23rd.

 

I'm worried for you though. Hows the abalone business ? Now I'm not being crude, but I just want you to know deep down if your abalone business fails, you can always sell your backside.

 

If you need to sell backside, let me know. Heard alot of sailors are anything goes. Every hole is a goal for them. Remember to bring enough lub ok !!!

[King_of_abalone]

How rude.

 

This is no way to treat someone who wishes you well...

[BMW320i]

Errr no thats mean being polite to people who wishes the downfall of my family.

 

You have not seen my rude side yet.

[Tanjkp]

The latest news mentioned now more ppl are going to smaller flats. Y ?

Simple, in the ealrier days, < $20k will buy 3rm or smaller, $20k onwards for 4rm and >$30k 5rm so of course more ppl rush for bigger flats.

 

Now 4rm start from >$200k (ulu area) and can be up to >$400k.

 

From $20k to $400k naturally ppl go back to 3rm and even that will be at least >$120k.

 

If all remember the last report on low income group -- their pay starting pay now is even lower than last time so of course the low income ppl need to take the smallest flats now.

 

MIW kept increasing own$$ in double digits and Xpect ppl to refrain from taking high pay increment...

 

Time for all to rethink on what we are getting from the 66% ....

[Eyke]

Contract to build 8 blocks of flats plus one multistorey carpark with total 738 units in Punggol.

Awarded contract value $154.66 million

 

you mean to say the HDB flat you buy comes with ownership of some carpark lots in multi-storey carpark?

 

if not, you can't include the cost of building the carpark with the cost of building the flats.

Edited November 21, 2008 by Eyke

[Eyke]

recently some town councils just lost tens of millions of OUR money thru buying Lehman Bros-linked investments.

 

yet our dear leaders warned us to diam diam and must "BE THANKFUL"!

Edited November 21, 2008 by Eyke

[Chongster]

well done. maybe we wrong them after all, because that is only building cost? i think still got a lot of other legitimate cost goes into building flats, apart from building, like permits, land survey, architect etc.

Edited November 21, 2008 by Chongster