how can singaporean afford apartments??

[lee133]

I have had a look on property guru, and some of the prices for an apartments runs into the millions!! How can people afford this? Even the HDB flats are so expensive, maybe averaging about 500k or more! its crazy!

People in Britain would almost find it impossible to even get a 200k mortages in british pounds, roughly equates to 400k in singaporean dollars. How on earth can singaporean afford to buy homes, when their salary are less than britons?? Am I missing someting?

[Lunch Lady Doris]

Yes, you are missing a brain and a fundamental knowledge of how the Singapore property market works

[holy bananas]

I have had a look on property guru, and some of the prices for an apartments runs into the millions!! How can people afford this? Even the HDB flats are so expensive, maybe averaging about 500k or more! its crazy!

People in Britain would almost find it impossible to even get a 200k mortages in british pounds, roughly equates to 400k in singaporean dollars. How on earth can singaporean afford to buy homes, when their salary are less than britons?? Am I missing someting?

nevermind apartments.

i wonder who lives in those detached homes. foreign royalty perhaps? 
and how about sentosa? the monkeys used to own that island. 

[Blaze]

I have had a look on property guru, and some of the prices for an apartments runs into the millions!! How can people afford this? Even the HDB flats are so expensive, maybe averaging about 500k or more! its crazy!

People in Britain would almost find it impossible to even get a 200k mortages in british pounds, roughly equates to 400k in singaporean dollars. How on earth can singaporean afford to buy homes, when their salary are less than britons?? Am I missing someting?

It's quite simple:
1) Singaporeans live with their parents until they're 30 (yes I know, it's depressing)
2) They save most of their income for down payment
3) They can also use their retirement fund (CPF) for housing
4) Mortgages can easily be 30 years long
5) First unit is subsidized a little bit (but not as much as it used to be)

Even so, I agree it is very challenging for people with normal jobs to buy housing. We bought our unit 2006 and prices were totally different those days. As I mentioned in another thread, this generation (25-40 years now) will have extremely difficult lives.

[One more thing...]

HDB flats are only available to people under 35 years old when they are married, which typically means two salaries are buying it.

[Mr Amazing]

So gay men are forced to live with their parents (and their parents parents) till they are over 35 if they want their own housing and can't afford a million bucks on a shoebox condo?

[bunk with others]

So gay men are forced to live with their parents (and their parents parents) till they are over 35 if they want their own housing and can't afford a million bucks on a shoebox condo?

Or they can live with their boy friend(s) - like what you are doing.

[Mr Amazing]

So gay men are forced to live with their parents (and their parents parents) till they are over 35 if they want their own housing and can't afford a million bucks on a shoebox condo?

Or they can live with their boy friend(s) - like what you are doing.

Sorry, you have lost me there. What am I doing exactly? Living with someone's boyfriends? Please explain.

[Kubes.SG]

Good list by Blaze.  But he missed a key ingredient that inflates the property bubble.  It's exactly the one that caused the housing and economic meltdowns in NA, UK, IR, WE, etc.   Loose monetary policy and artificially low interest rates.

There will be blood in the streets when the interest rates rise to 5 or 6 percent, as they should.

[duh duh]

So gay men are forced to live with their parents (and their parents parents) till they are over 35 if they want their own housing and can't afford a million bucks on a shoebox condo?

Or they can live with their boy friend(s) - like what you are doing.

Sorry, you have lost me there. What am I doing exactly? Living with someone's boyfriends? Please explain.

Like what you are doing - living in with your gay boy friend.

[fritjes]

So gay men are forced to live with their parents (and their parents parents) till they are over 35 if they want their own housing and can't afford a million bucks on a shoebox condo?

They, like singles or cohabiting couples in Singapore, are free to rent an apt. You don't have to own to live on your own.

[oh nuh-uh!]

So gay men are forced to live with their parents (and their parents parents) till they are over 35 if they want their own housing and can't afford a million bucks on a shoebox condo?

Or they can live with their boy friend(s) - like what you are doing.

Sorry, you have lost me there. What am I doing exactly? Living with someone's boyfriends? Please explain.

Like what you are doing - living in with your gay boy friend.

Are you fricken KIDDING?! Your idea of an insult is to tell someone they're gay?!

My kids used to say that to people when they were about 10 - before I explained to them how being gay is not bad and therefore cannot be an insult.

That's right, you just showed yourself to have the intellect of an (uninformed) primary school student.

[duh duh duh]

So gay men are forced to live with their parents (and their parents parents) till they are over 35 if they want their own housing and can't afford a million bucks on a shoebox condo?

Or they can live with their boy friend(s) - like what you are doing.

Sorry, you have lost me there. What am I doing exactly? Living with someone's boyfriends? Please explain.

Like what you are doing - living in with your gay boy friend.

Are you fricken KIDDING?! Your idea of an insult is to tell someone they're gay?!

My kids used to say that to people when they were about 10 - before I explained to them how being gay is not bad and therefore cannot be an insult.

That's right, you just showed yourself to have the intellect of an (uninformed) primary school student.

You describe yourself very well - you are the one who thinks being gay is bad.

[oh nuh-uh!]

So gay men are forced to live with their parents (and their parents parents) till they are over 35 if they want their own housing and can't afford a million bucks on a shoebox condo?

Or they can live with their boy friend(s) - like what you are doing.

Sorry, you have lost me there. What am I doing exactly? Living with someone's boyfriends? Please explain.

Like what you are doing - living in with your gay boy friend.

Are you fricken KIDDING?! Your idea of an insult is to tell someone they're gay?!

My kids used to say that to people when they were about 10 - before I explained to them how being gay is not bad and therefore cannot be an insult.

That's right, you just showed yourself to have the intellect of an (uninformed) primary school student.

You describe yourself very well - you are the one who thinks being gay is bad.

Ah, no, I do not think being gay is bad... Hence my disgust at the insult in the first place....

[quitting is good]

So gay men are forced to live with their parents (and their parents parents) till they are over 35 if they want their own housing and can't afford a million bucks on a shoebox condo?

Or they can live with their boy friend(s) - like what you are doing.

Sorry, you have lost me there. What am I doing exactly? Living with someone's boyfriends? Please explain.

Like what you are doing - living in with your gay boy friend.

Are you fricken KIDDING?! Your idea of an insult is to tell someone they're gay?!

My kids used to say that to people when they were about 10 - before I explained to them how being gay is not bad and therefore cannot be an insult.

That's right, you just showed yourself to have the intellect of an (uninformed) primary school student.

You describe yourself very well - you are the one who thinks being gay is bad.

Give it up, you're only making yourself look more stupid with every post.