Affordability?

[$Pripps]

I wish Singapore would grow up a bit in this regard and instead of giving such one sided stories be more transparent when things are not as they should. That would gather some respect instead of ridicule but I guess that is too much to ask.

[Vulcanl]

EVERY Government in the World does this (provide one-sided spin on how 'good' everything is).  Singapore's govt is no different in this regard. 

I think the problem is that everyone's expectations and sense of entitlement are too high.

For the expat earning 20K month, there is nothing preventing you from finding a place with plenty of space for 3K per month.  You just need to be willing to lower your standards. 

The situation is what it is.  If you cannot 'afford' to live here, then you shouldn't be here and should seek a location more closely aligned with your situation.

As for the locals complaining about high HDB prices....I would really like to know how many of you feel that you also 'need' a car, a maid, tuition for your children, eating out all the time, etc.

I have seen very affordable homes firsthand in good locations.  They are not exactly close to the CBD, but you can't have everything.  Life is all about balance and compromise. 

[fritjes]

Yes, every govt does this - but only in SG is the media controlled by the government.

In most other c'tries, the govt can spin all they want, but the press doesn't just print their drivel lock, stock & barrel. Even if newspapers have biases & slants, the collective picture gives a more multidimensional view of an issue.

[Vulcanl]

fritjes,

"...in most other c'tries, the govt can spin all they want, but the press doesn't just print their drivel lock, stock & barrel. Even if newspapers have biases & slants, the collective picture gives a more multidimensional view of an issue..."

The blog scene is a vibrant one here.  Everyone knows what the game is, and it is such a small place that word gets around very quickly.  I don't agree with you about the lack of any 'multidimensional view.' 

What we are doing right now is a prime example.   

[$Pripps]

What we are doing right now is a prime example

seriously how many do you think read posts in this site? 100 locals?

this site's web statistics talk of 180,000 hits per month which is really quite modest. especially considering half of them come from you 

[Agent007]

Oh so this is the one and only site in Singapore? And I thought there were 2! How silly of me.

Airport.

[$Pripps]

Oh so this is the one and only site in Singapore? And I thought there were 2! How silly of me.

Airport.

LOL "sites in Singapore" - you really sound very intelligent but then you call yourself an agent so I am not that surprised.

Curry Puff!

[Please,]

Oh so this is the one and only site in Singapore? And I thought there were 2! How silly of me.

Airport.

would you come up with something more original than "airport" on your posts? You put this on nearly every post

[ZR]

Properties in Singapore are overpriced. The higher end ones are moving and confined to a small circle of the rich, mainly oversea- based foreigners, many whose sources of incomes and purposes are questionable. Nothing to be proud of.

[Reverend Black]

As it has been mentioned, who would spend their own hard-earned money on the new condos rising across Singapore? Except the young for whom debt is readily available and does not intimidate.  

Perhaps these new condos are tomorrows HDB?
Is it time to abandon renovation and take advantage of Singapore's stimulus package to rebuild HDB across Singapore?

[MiksMiks]

That was a good one $Pripps.

If you have been reading the local drivel papers lately, you would have noticed that the powers that be have started a big education drive highlighting how concerned they are about the locals, and how they are ensuring that Singaporeans will be accorded more privileges than us lowly foreigners.

Think they have realized the truth about the old adage - you can only fool so many people for so long. Leaving aside the willing "sheep" like Vulcan, there are a fairly large number of well aware, and opinionated locals who understand and shout about the nonsense that the mass media dishes out.

Vulcan is a character straight out of Animal Farm.

What we are doing right now is a prime example

seriously how many do you think read posts in this site? 100 locals?

this site's web statistics talk of 180,000 hits per month which is really quite modest. especially considering half of them come from you 

[Privileges]

If you have been reading the local drivel papers lately, you would have noticed that the powers that be have started a big education drive highlighting how concerned they are about the locals, and how they are ensuring that Singaporeans will be accorded more privileges than us lowly foreigners.

The powers that be are not really targeting expats, if an expat is defined by highly skilled / highly paid foreigner working for a MNCs. The big heartache for the locals is the massive number of Chinese and Indians who have been let in during the boom period, directly compete with them at a lower wage, drive up prices of HDB's (for those who have become PR) while not having to serve NS unlike male Singaporeans.

[Dr. Phil]

If you have been reading the local drivel papers lately, you would have noticed that the powers that be have started a big education drive highlighting how concerned they are about the locals, and how they are ensuring that Singaporeans will be accorded more privileges than us lowly foreigners.

The powers that be are not really targeting expats, if an expat is defined by highly skilled / highly paid foreigner working for a MNCs. The big heartache for the locals is the massive number of Chinese and Indians who have been let in during the boom period, directly compete with them at a lower wage, drive up prices of HDB's (for those who have become PR) while not having to serve NS unlike male Singaporeans.

This is one reason why UK property prices have doubled and in some areas trebled over the past fifteen years.
Its called immigration and it drives up prices due to so many more competing for limited goods and jobs.
In fact some governments are of the opinion immigration stimulates the economy even if they have to subsidise immigrants by way of welfare, paid for by higher taxes. This is called consumption.
This practice is very short-sighted as we are seeing in UK. The huge cost has been paid for by debt accumulated to give people this "feel good" factor so they do not see or react to the true impact of immigration.
 

[aw]

I was wondering why the two NUS professors bothered publishing such a disgrace of a study.

Mah Bow Tan just quoted that study to back the "fact" that housing in Singapore was affordable. I'm sure that this is all just one big coincidence.

[Seriously...]

Cruncher
Not so long ago I attended a property launch. I commented to the salesperson or agent that the prices were so high and the young people present cannot afford to pay. The agent assured me that the sales were good and its the old folks (parents) who paid up. Many of these parents are loaded with cash in the CPF and they bought their homes( private or HDB) a long time ago. It's a growing trend that parents are buying properties for their children.
The govt. know that there is group of people( or voters) who do not qualify for HDB and cannot afford private housing so they created a type of housing call executive condos whereby the applicant gets $40k grant from the govt. but he cannot sell within 5 years.
As you can see, it is not a level playing field. The odds are against the expats and the locals have many advantages.You are hoping that supply will far exceeds demand, but the biggest land owner is the govt. The major developers have great holding power and they will not lower their selling prices.
Can the property market crash? Sure, if the locals have no jobs and all the expats suddenly head for the airport. I must say that the probability of such an event is pretty low.             

of course the locals will have better benefits/advantages than foreigners right? I am pretty sure its the same in most countries.

But you must remember, their average annual income is substantially lower than a lot of expats on this board. Hence, they NEED these advantages over the foreigners.

With or without the upcoming election, I cannot imagine any government who will choose to throw money at foreigners, giving them $40k incentives to purchase properties, instead of giving them to the locals.