$880,000: Priciest HDB flats launched in Tampines
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Don't compare DBSS flats with regular ones: Khaw
FOLLOWING the stir caused by the recent high prices of a Design, Build and Sell Scheme (DBSS) development launched by a private developer, National Development Minister Khaw Boon Wan sought to explain the difference between DBSS developments and HDB flats.
In his latest blog entry on Saturday afternoon, he said that price control was not a term of the contract when private developers tender for the site, and buyers can choose to walk away from the purchase.
Mr Khaw wrote that on his part, he is ramping up BTO (Build-To-Order) launches and working on pricing them appropriately.
The DBSS development in question - Centrale 8 by developer Sim Lian, to be located in Tampines - will set a buyer back $880,000 for a five-room unit. This amounts to $750 psf, typical of suburban condominiums. The social media scene was abuzz following the news. The discussion thread on straitstimes.com garnered 116 comments in one day, mostly negative.
Here is the start of Mr Khaw's latest blog entry titled 'DBSS Is Not HDB': 'A private developer's DBSS launch in Tampines, with the upper end of the 5 room units priced at $880,000, caused a stir in the social media. The negative reaction was not surprising. DBSS is a class of housing type between HDB flats and Executive Condos (EC)/private condos. It forms a tiny portion of the total housing options for Singaporeans.
'While HDB flats are designed and priced by HDB, DBSS flats are designed and priced by private developers. If the private developer prices it too high and there are no takers, there will be no sales. Netizens would like MND (Ministry of National Development) to come in and tell the private developer to cut its price.
When they tendered for the land, price control was not a term of the tender. If contracts, after they are awarded, can be varied arbitrarily, this will damage Singapore's reputation as a business hub, with severe repercussions.
-- ST
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This is PAP policy of debt enslavement, keeps you working way after your retirement age, while the excess you paid for your HDB goes to the government's coffer.
It's a win win situation.
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I think 5 years later, Khaw will be remembered as a minister who has stopped the culling of stray cats. Whoever helms the HDB hotseat is bound to get booted out lol.
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Khaw has a point, it is stupid for people to compare dbss flats with regular ones. How many dbss flats are there compared to the BTO ones? The pricing is set by the private developer, nothing to do with hdb, other than the fact the land was sold by hdb to the developer under obligations.
And most importantly, its up to people to decide if they want to spend that kind of money on a 99 year flat with luxurious fittings or not. If you know you can't afford it, don't take it. Simple as that. If people cannot figure out why there is a $10000 income limit to buying a dbss, they don't deserve to buy one.
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so i guessed khaw is watching sgforums?
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He uses facebook, has a blog, and probably knows how to use google. Who here uses google search and not once has an sgforums topic end up in the search results?
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Somemore Tampines got what view???
Marine Parade sea-view condo apartments, some even less expensive than the stupiak DBSS 5-room lorh!!!
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Originally posted by Fryderyk HPH:
Somemore Tampines got what view???
Marine Parade sea-view condo apartments, some even less expensive than the stupiak DBSS 5-room lorh!!!
noisy car and mrt, and spy-on-neighbour view -
Also, if DBSS is between HDB and EC as what Khaw says, shouldn't its price also be as such? How come the EC in Tampines (there are, in fact it is near the new UWC International School campus and prices there should skyrocket) is actually having cheaper resale values than the DBSS Centrale 8?!
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Originally posted by Demon Bane:
If its really so expensive, why are people still buying ??? I dun understand.....
Exactly like the Tulip mania (go wiki it)...
And sooner than later, you get a massive bubble!
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Originally posted by Fryderyk HPH:
Exactly like the Tulip mania (go wiki it)...
And sooner than later, you get a massive bubble!
they want to expand propety prices -
Originally posted by ditzy:
Khaw has a point, it is stupid for people to compare dbss flats with regular ones. How many dbss flats are there compared to the BTO ones? The pricing is set by the private developer, nothing to do with hdb, other than the fact the land was sold by hdb to the developer under obligations.
And most importantly, its up to people to decide if they want to spend that kind of money on a 99 year flat with luxurious fittings or not. If you know you can't afford it, don't take it. Simple as that. If people cannot figure out why there is a $10000 income limit to buying a dbss, they don't deserve to buy one.
The income ceiling is there to prevent people from over stretching their finances.
In this case, they are saying that if you earn a combined salary of just under 10K, you will be able to afford the 880K DBSS flat.
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Originally posted by Demon Bane:
If its really so expensive, why are people still buying ??? I dun understand.....
Because:
1) They need a place to live.
2) People at the top keep claiming that HDB flat prices are "affordable".
3) People have been brainwashed to think that property prices in Sg can never fall.
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its totally afforadable
10k means your cpf will have 3.3k
then loan 30 years
sure no problem
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Originally posted by Rock^Star:
I think 5 years later, Khaw will be remembered as a minister who has stopped the culling of stray cats. Whoever helms the HDB hotseat is bound to get booted out lol.
The reality is that he cannot do much.
Prices are now so high that moving it in either direction or even stabilising it at current levels will cause major problems.
Leave it at current prices - those people wanting to buy a flat for the past few years will kpkb.
Push up prices - create a bigger bubble that will cause more pain and suffering in the future and people will kpkb.
Push down prices - those people who bought at the highs of past few years will kpkb.
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Originally posted by Fryderyk HPH:
Also, if DBSS is between HDB and EC as what Khaw says, shouldn't its price also be as such? How come the EC in Tampines (there are, in fact it is near the new UWC International School campus and prices there should skyrocket) is actually having cheaper resale values than the DBSS Centrale 8?!
Oops.
Busted.
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2013 will be critical....a global recession is predicted....then the SG pty prices will crash !!
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I will wait patiently and buy pty at rock bottom prices !
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Now pty prices are at historical highs.....those that bought recently beware!!! The pty bubble will burst within these two years !!!
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http://www.temasekreview.com/2011/06/19/khaw-boon-wan-dbss-is-not-hdb/
Comments below the article are worth reading and digesting.
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My fren had sold his landed pty @ S$2M and made alot of $....he said will buy two condos, one to live and the other to rent out....I guessed with people like him, he will not think that the DBSS @ Tampines is expensive....
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Sadly, not many of us are like him....As for myself....I'm just a regular guy earning just enough to get by....so I would think that the S$880K 5rm DBSS flat is tooooo expensive!
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Even the 3 rms DBSS @ S$510k !!!! That's shockingly high !!!!
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Now that they have psycho-ed people into what public housing prices should look like, when people look at a 5 room BTO flat that sells for $600K, it will look damn affordable.
$500K for a 4 room flat is affordable.
$400K for a 3 room flat is affordable.
$300K for a 1 room studio apartment is affordable.
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Originally posted by Demon Bane: Even the 3 rms DBSS @ S$510k !!!! That's
shockingly high !!!!
I read the 3 room flat floor area is around 667 sq ft.
Half a million for that.