Who can afford a $5000 - 6000 flat??

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remersonh
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Hdb flat rentals

Post by remersonh » Wed, 19 Sep 2007 8:55 am

I'm certainly considering (and I've moved beyond considering to actually leasing) an HDB. It's the only thing that makes sense. I'm certainly NOT going to spend another $1K per month for a pool and a worse unit!

As for 'living in comfort' the unit that I'm renting is actually NICER than the unit I 'gave up' in NYC. And it's about 10 times better than anything else in a similar price range.

Of course there was no way in the WORLD that I would have said that BEFORE finding my place ... I didn't want the competition!!!

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German_Expat
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Post by German_Expat » Wed, 19 Sep 2007 9:38 am

Good for you remersonh, and a kick in the teeth for overpricing landlords :-) But I wonder how much increase you will pay after your lease ends..... maybe condo owners had their chance, now its time to give way to HDB owners to make a killing.

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jpatokal
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Re: HDB v Condo

Post by jpatokal » Wed, 19 Sep 2007 8:36 pm

German_Expat wrote:Ok, assuming more expats take up HDB accomodation..... how long will the prices stay at the level they are now? I mean, they have increased to that level sharply in the past two years. $1800 used to be the rental price for a condo appartment that I lived in for the past two years, now this is the price for a HDB...
For HDBs, supply has exceeded demand for a few years now, with new flats in ulu-ulu bits of Punggol and whatnot going unsold despite increasingly desperate sales tactics. The slack is now being cut a bit, but most expats are not eligible for buying flats, much less interested in doing so.
There alone is one effect..... rental increases affect not only the person having to pay the rent, but also those who would normally benefit from the money available to spend. Everything is interconnected, and one affects everything down the chain.
But your higher rent means the landlord has more money to spend, and thus spends it instead of you.
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sundaymorningstaple
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Post by sundaymorningstaple » Wed, 19 Sep 2007 9:07 pm

As an HDB owner, I can tell you why the over supply of units. Aside from the completion of those under construction prior to the financial meltdown in '97-98 the new flat were considerably small in size and built in outlying areas. Most of those areas did not have adequate transport facilities nor convenience centres (shopping complexes or town centres at least with operational shops).

It became a catch 22. The White Elephant demonstration a year ago was a prime example. They wouldn't open the station for lack of ridership but people would not move out there without facilities and transport. Can't say as I blame them. That's why I ended up buying a resale flat that had 121 sqm of floor space. Much bigger, plenty of transport, shopping venues and far enough out of the city to be considered rural.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by huggybear » Thu, 20 Sep 2007 8:48 am

is it possible to buy 3 HDBs and combine them all to create your personal death star?

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HDB for single expats

Post by Thaiclan » Thu, 20 Sep 2007 10:45 am

"I don't understand why so many expatriates (at least the ones in this forum) will not consider some of the more well-kept HDB flats. One can save so much from one's pay packet by renting a HDB flat instead of an expensive condominium, particularly for those who are single."

Many of the expat families include small children, so a pool and play area are preferred by expat Mothers. Also they are surrounded by other expat Mothers with lots more in common and can help each other find their way. I agree that single expats that work long hours could easily save hundreds of dollars by moving into a HDB, with no impact on their standard of living.

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Superglide
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Re: HDB for single expats

Post by Superglide » Thu, 20 Sep 2007 11:05 am

Thaiclan wrote:"I don't understand why so many expatriates (at least the ones in this forum) will not consider some of the more well-kept HDB flats. One can save so much from one's pay packet by renting a HDB flat instead of an expensive condominium, particularly for those who are single."

Many of the expat families include small children, so a pool and play area are preferred by expat Mothers. Also they are surrounded by other expat Mothers with lots more in common and can help each other find their way. I agree that single expats that work long hours could easily save hundreds of dollars by moving into a HDB, with no impact on their standard of living.
Public pools abundant in Sillypore!
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German_Expat
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Post by German_Expat » Thu, 20 Sep 2007 11:49 am

Public pools abundant in Sillypore!
And at the end your children speak perfect Singlish lah ;-)

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Just the way it is

Post by Adhib » Tue, 25 Sep 2007 7:26 pm

Reality is, on my UK salary of 35k and my wife's earnings of 25k, our kid is growing up in a four bed house in a homely London suburb, a half-hour cycle to the Gherkin. We spend £1200 on mortgage and £600 on childcare each month, and can't complain about our quality of life.

A new and slightly more senior role in Singapore is (I'm assured) likely to be offered at S$75k, say $6k per month, or $5+k after tax? A 3/4 bed condo (the wife's pregnant) is clearly not within reach. An HDB sounds possible, at maybe $2.5k - for now, at least. But nursery/school looks like it will cost nearly the same as in London, at $1,500 per month. That doesn't leave the wife any wiggle room to visit family in the UK with the baby.

I can't seem to make this add up. I'd be asking family to sacrifice irreplaceable experiences - grandparents don't last forever - in exchange for which they'll get parked on a council estate in the boondocks away from most potential new friends, while I work long Singapore hours. Like that's sustainable.

So I think people around my grade are just not going to fit Singapore's needs from now on. MNCs will have to fight that bit harder for the small pool of already resident talent. Those of you already in territory should revise this post before going in to negotiate next year's pay ...!

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sundaymorningstaple
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Re: HDB for single expats

Post by sundaymorningstaple » Tue, 25 Sep 2007 8:05 pm

Thaiclan wrote:"I don't understand why so many expatriates (at least the ones in this forum) will not consider some of the more well-kept HDB flats. One can save so much from one's pay packet by renting a HDB flat instead of an expensive condominium, particularly for those who are single."

Many of the expat families include small children, so a pool and play area are preferred by expat Mothers. Also they are surrounded by other expat Mothers with lots more in common and can help each other find their way. I agree that single expats that work long hours could easily save hundreds of dollars by moving into a HDB, with no impact on their standard of living.
I wonder just how many had a living standard with a pool in their home country. I know some do obviously, but in all the years I've been here I'll bet I've met less than a dozen personally. Most HDB` flats have play areas and parks and the newer ones are almost like a condo with the exception of the pool. Our estate also has a gardening plot for the residents if they have a green thumb (actually two of them) also has a basketball court and an outdoor areas with exercise machines as well.

I'm curious, what does an eastern european or Japanese "expat' mother have in common with an ozzie "expat" mother? 'fraid I've got to disagree with Thaiclan on this one. Course I'm biased as I've lived in an HDB flat for 8 years now.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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sundaymorningstaple
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Post by sundaymorningstaple » Tue, 25 Sep 2007 8:06 pm

German_Expat wrote:
Public pools abundant in Sillypore!
And at the end your children speak perfect Singlish lah ;-)
Have you heard what comes out of the International Schools? :shock:
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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