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therock

By therock,
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Throttle2

Throttle2

Supersonic
On 8/20/2024 at 4:36 PM, Theoldjaffa said:

Bro u need to sell your GCB first. You cannot own any private property before you buy HDB.

From the sale completion date, the 15 month wait out period starts.

When you reach 55 years old, you can sell your GCB and buy a 4-room or smaller resale immediately without the 15 month wait out period.

Looks like i will never buy a hdb in my life.

After contributing millions in income tax over the years, i still dont qualify.  
 

thank you Singapore Govt

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Spidey10

Spidey10

Supercharged
On 8/20/2024 at 12:54 PM, Throttle2 said:

So since i am retired with zero assessable income starting 2025, do i qualify to buy HDB? 

Singaporean, first timer applicant, married, no outstanding loan whatsoever, full cash purchase no problem.   
 

can any guru answer my question?  
 

 

of course can lah!! it's yr birthright leh.....

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Spidey10

Spidey10

Supercharged
On 8/20/2024 at 4:43 PM, Throttle2 said:

Looks like i will never buy a hdb in my life.

After contributing millions in income tax over the years, i still dont qualify.  
 

thank you Singapore Govt

put in wife's name....

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Windwaver

Windwaver

Turbocharged
On 8/20/2024 at 1:05 PM, Volvobrick said:

erections obviously almost here!  115K for singles is really generous. Need their votes!

Give give give chicken wings!

https://www.edgeprop.sg/property-news/rise-private-home-ownership-among-those-under-35

Rise in private home ownership among those under 35

85719062.jpeg

SINGAPORE (EDGEPROP) - Lee Sze Teck, senior director of data analytics at Huttons Asia, observes an increasing trend of younger buyers opting to buy a private condo as their first home.

Huttons estimates that around 30% of buyers of new private homes are 35 and below compared to 20% five years ago. “Private homes are gaining popularity among youths as they offer more flexibility and are less restrictive than an HDB flat or Executive Condo (EC),” says Lee.

Additionally, Lee points out that the potential gains from the sale of a private home are higher than those from an HDB flat. Between 2009 and 2Q2024, private non-landed prices in the Outside Central Region (OCR) increased by 149.1%, while HDB resale prices increased by 87.9%.

e1bd82-IMG-0226.png

The Department of Statistics figures show that the number of young residents (under 35) staying in private homes has risen steadily since 2011. In 2023, there were 380,459 private housing residents under 35, an increase from 375,651 in 2022.

“The attractiveness of facilities, lifestyle and exclusivity, as well as investment opportunities offered by private homes, are strong pull factors for youths to aspire to,” says Christine Sun, chief researcher and strategist at OrangeTee Group.

Can young people afford to upgrade to a condo?

Housing affordability has improved against median household incomes in 1H2024, says Huttons’ Lee. In 2023, the median household income was $10,689 per month. “With rising income among the younger generation, the aim of buying a private home is achievable,” he adds.

For younger buyers who want to purchase a private home — and typically have a budget of around $1.2 million to $2 million — Lee suggests buying a two-bedroom unit. “This requires at least five years’ savings of at least $10,000 to $20,000 a year,” he says. “Together with their CPF contributions, they will be able to cover part of the downpayment for the private home.”

aabf42-IMG-0217.png

OrangeTee’s Sun notes that those with additional savings, financial assistance from their parents, or the ability to sell their existing flats for a good price have a better chance of affording a private condo.

However, she cautions against overspending on housing while underestimating other costs, especially for those with children, such as childcare fees and other expenses, leaving very little for other necessities. “It is important to purchase a home within one’s financial means and refrain from overleveraging, thus avoiding financial strain caused by excessive debt,” Sun adds.

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Wt_know

Wt_know

Supersonic

hdb ... no $2M no talk .... 

ah gong chut pattern liang teh liao to cool the piping hot property liao

spore property cheong is UNSTOPPABLE la ... 

ah gong liang teh no power one ... 

 

2024-08-21_195932.jpg

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Throttle2

Throttle2

Supersonic
On 8/21/2024 at 7:58 PM, Wt_know said:

singapore's dream

35 buy condo

45 buy landed

next target GCB liao 

spore property huat ah!

no scare no scare ... 

 

f**k i got it all wrong.

28, bought private apartment

31 bought condo

35 bought landed

37 bought another condo

38 all properties fully paid but no GCB.

retied at 50, no gcb, damn throw face, shit, i am a bloody failure

damn it, i always get it wrong. Why??? 🥹🥹🥺🥺🥺🥹🥹🥹

 

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Volvobrick

Volvobrick

Supersonic
On 8/21/2024 at 7:50 PM, Windwaver said:

https://www.edgeprop.sg/property-news/rise-private-home-ownership-among-those-under-35

Rise in private home ownership among those under 35

85719062.jpeg

SINGAPORE (EDGEPROP) - Lee Sze Teck, senior director of data analytics at Huttons Asia, observes an increasing trend of younger buyers opting to buy a private condo as their first home.

Huttons estimates that around 30% of buyers of new private homes are 35 and below compared to 20% five years ago. “Private homes are gaining popularity among youths as they offer more flexibility and are less restrictive than an HDB flat or Executive Condo (EC),” says Lee.

Additionally, Lee points out that the potential gains from the sale of a private home are higher than those from an HDB flat. Between 2009 and 2Q2024, private non-landed prices in the Outside Central Region (OCR) increased by 149.1%, while HDB resale prices increased by 87.9%.

e1bd82-IMG-0226.png

The Department of Statistics figures show that the number of young residents (under 35) staying in private homes has risen steadily since 2011. In 2023, there were 380,459 private housing residents under 35, an increase from 375,651 in 2022.

“The attractiveness of facilities, lifestyle and exclusivity, as well as investment opportunities offered by private homes, are strong pull factors for youths to aspire to,” says Christine Sun, chief researcher and strategist at OrangeTee Group.

Can young people afford to upgrade to a condo?

Housing affordability has improved against median household incomes in 1H2024, says Huttons’ Lee. In 2023, the median household income was $10,689 per month. “With rising income among the younger generation, the aim of buying a private home is achievable,” he adds.

For younger buyers who want to purchase a private home — and typically have a budget of around $1.2 million to $2 million — Lee suggests buying a two-bedroom unit. “This requires at least five years’ savings of at least $10,000 to $20,000 a year,” he says. “Together with their CPF contributions, they will be able to cover part of the downpayment for the private home.”

aabf42-IMG-0217.png

OrangeTee’s Sun notes that those with additional savings, financial assistance from their parents, or the ability to sell their existing flats for a good price have a better chance of affording a private condo.

However, she cautions against overspending on housing while underestimating other costs, especially for those with children, such as childcare fees and other expenses, leaving very little for other necessities. “It is important to purchase a home within one’s financial means and refrain from overleveraging, thus avoiding financial strain caused by excessive debt,” Sun adds.

 “This requires at least five years’ savings of at least $10,000 to $20,000 a year,” he says. “Together with their CPF contributions, they will be able to cover part of the downpayment for the private home.”

This is scary - saving only 20k a year to pay the down payment only? 

 

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Throttle2

Throttle2

Supersonic
On 8/21/2024 at 8:14 PM, Volvobrick said:

 “This requires at least five years’ savings of at least $10,000 to $20,000 a year,” he says. “Together with their CPF contributions, they will be able to cover part of the downpayment for the private home.”

This is scary - saving only 20k a year to pay the down payment only? 

 

5 yrs of savings of $20k per year is only $100k.   Like that already want to go all in and buy private liao.  
These agents really know how to drive the market huh?

 

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Wt_know

Wt_know

Supersonic
(edited)
On 8/21/2024 at 8:26 PM, Throttle2 said:

5 yrs of savings of $20k per year is only $100k.   Like that already want to go all in and buy private liao.  
These agents really know how to drive the market huh?

like carousell grey dealer selling lolex promoting 24-36 months installment ... 

some more give buy back plan ...  sibei reassuring [thumbsup] 

wear first ... no scare no scare ... can sell back later ... lol

Edited by Wt_know
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Throttle2

Throttle2

Supersonic
On 8/21/2024 at 8:28 PM, Wt_know said:

like carousell grey dealer selling lolex on 36 months installment ... 

people who plan their lives base on hire purchase will eventually realise that they have no life at all.  

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Windwaver

Windwaver

Turbocharged
On 8/21/2024 at 8:02 PM, Wt_know said:

hdb ... no $2M no talk .... 

ah gong chut pattern liang teh liao to cool the piping hot property liao

spore property cheong is UNSTOPPABLE la ... 

ah gong liang teh no power one ... 

 

2024-08-21_195932.jpg

More subsidy for young generation? :secret-laugh:

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Wt_know

Wt_know

Supersonic
(edited)
On 8/21/2024 at 10:05 PM, Windwaver said:

More subsidy for young generation? :secret-laugh:

can up $110K reno to $200K liao ... 

can install smart toilet with voice activation ...

and add another stylo mylo bear bear sculpture too ... [sly] 

nabei ... more subsidy who pay? [mad] 

how come taxes paid up and up year on year huh? [furious]

Edited by Wt_know
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Volvobrick

Volvobrick

Supersonic
(edited)
On 8/21/2024 at 10:29 PM, Wt_know said:

can up $110K reno to $200K liao ... 

can install smart toilet with voice activation ...

and add another stylo mylo bear bear sculpture too ... [sly] 

nabei ... more subsidy who pay? [mad] 

how come taxes paid up and up year on year huh? [furious]

OK la. Guy is 31 not exactly young. Maybe he earned his money so splurge nothing wrong lah. 

And seriously 100k cannot do much, probabky need to buy from TB some of the things to save enough for those that cannot import in, like carpentry, electrical and tiling works. 

Edited by Volvobrick
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13177

13177

Hypersonic
On 8/21/2024 at 10:05 PM, Windwaver said:

More subsidy for young generation? :secret-laugh:

Even no subsidy, young generation also can afford la. Their earning power is high lo.

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inlinesix

inlinesix

Hypersonic
On 8/21/2024 at 10:05 PM, Windwaver said:

More subsidy for young generation? :secret-laugh:

On 8/22/2024 at 8:33 AM, 13177 said:

Even no subsidy, young generation also can afford la. Their earning power is high lo.

This guy owns F&B biz. He is a content creator.

Not run of the mill office workers.

Mai jealous la

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