CNA | Talking Point | E04: What's driving up the prices of HDB resale flats?

[@philipanzelmo9711]

1.19 million for a flat with such crap condition? In your dreams dude! The cost to renovate the whole damn flat would be almost a third of that.

[@jibrailraja1897]

Yes the freelance photographer Philip. He's clearly deluded.

[@aiwenchew6269]

The guy wanted to sell for over a million but I love when she asked how much did he bought it and her eyes lit up when he said 350k

[@everydaypengs]

See Patrick's house and I want to faint... Agent don't even bother to do staging... For a deal that requires luck...

[@BeOutstanding]

Owner does not even bother to clean or tidy up the place for filming!

[@elitepunch1498]

Cos all requires is luck lah! 😂😉

[@makkaucbkia9640]

He still lives there and look at the amount of things he has how to do staging.

[@jrukawa11]

Phillip is a hoarder

[@gl241]

jrukawa11 I’m more surprised by his absolute lack of any taste.

[@contrarian2496]

Remember, million dollar HDB flats are not the norm. Not everyone has to stay in the city/city fringe, a HDB flat far from the city wouldn't cost a million dollars. So these outliers wouldn't affect your average home buyers.

[@thefunnyongfamily]

Did u watch the show about the president Harold Holt disappearing?

[@Sturmbannfuhrer2]

Thing is 10+ years ago city fringe units only cost 300k, and far away areas less than 100k. It is still shitty for people looking to buy house as their buying power is much lesser now.

[@bsolutions525]

@@Sturmbannfuhrer2 still can find good deals. Just need to be patient and keep searching. I did

[@ashinshah326]

Let’s be real... a property that cost $1million is suppose to be a dream house.. might as well buy a villa in some other country.

[@louth1770]

So long there are such buyers, there will always b such demand. Like HK.

[@bsolutions525]

lease hold 99 yrs hdb 5 room flat, spacious and good location in holland v vs sengkang condo, shoebox size, also leasehold. I take the hdb any day, thank you very much

[@RonLarhz]

Tts why u are in the category of "buy with emotion".both will depreciate but the condo will go slower. Condos can sell to foreigners. They got money and wants the facilities n private/atas-ness. If u buy big hdb but less than 50yr left u confirm loogi. Unless u v sure u will die b4 lease run out or gov force acquisition for redevelopment.not taking into acct of things like kids etc...

[@TToTToTT]

@@RonLarhz buying a property would be just for staying in, and comfort is the most impt factor. I wouldn't buy a residential property for investment in singapore anymore. If you can get a yield of 2-3% (assuming a 100% tenancy turnover rate), you're considered fortunate already. And really no point buying property for estate purposes (unless its freehold). These days, i can put 200k into a insurance policy, when im gone my beneficiaries get a guaranteed 2mil. No property/investment can beat that for estate planning

[@bsolutions525]

@@RonLarhz you in the category of 'forever poor'

[@RonLarhz]

@@TToTToTT Sure bo? Gt such gd lobang? Which insurance?what plan?fine prints?

[@TToTToTT]

@@RonLarhz its called a universal life policy. A few banks distribute them or u can get them straight from the insurer via your agent

[@deahborhan8794]

He very confident eh. I wonder if this Philip have sold his unit. Jln Membina is crap unit. Super small. 8 years ago I stay at Kim Tian Rd 4 room.flat. Low floor I sold the unit at 680k. My home not like Philip very nicely renovated. Bought over by the SPR. Though Kim Tian alot of convenience, it is really crap for young family. Difficult to get childcare, primary school competitive at that time. Real glad I moved.

[@jingyun4323]

Wasn't HDB set up for the not so rich? Funny how it costs 1 million now

[@Ng-nv9to]

probably means 1mil is no kick to the average singaporean now.

[@MrBoliao98]

If u bought from govt it's what 500,000. You as a citizen earn the bto, sell to the a PR, so?

[@Ng-nv9to]

@@MrBoliao98 those new BTOs with a potential for a future 1 mil sale price is already 15x-20x oversubscribed as seen in August. Might as well call it a lottery. So your example is not applicable to the majority of SGreans here.

[@cssjc0101]

It is set up for the rich and for those who can afford once it is in the resale market.

[@hilmir]

big question: did philip ever manage to sell his flat at 1.19mil? lol

[@matachendra5490]

I hope not

[@hilmir]

@@matachendra5490 yes, same here. silly guy.

[@superconnie5003]

Q:What is your professional opinion? Ans:"need luck".How professional!

[@jemimychannel7893]

Ahahahaha

[@lendleasereit6797]

I think u are missing the point. From his professional opinion, he thinks there is no guarantee or in other words, the chances are Low hence "luck". Professional does not equal fortune teller.

[@lendleasereit6797]

His answer is based on his professiona experience

[@kaiqinAKAme]

Someone lied to Phillip several times

[@ZulMarquez]

It’s all about the location! A 3 room hdb flat in Holland Village can buy you a 5 room flat in Sembawang!! I’d rather live in a jumbo flat than living in a smaller space in the city center 😭😭

[@benyun483]

Due to 2 reasons: HSBC flats are built better or even then pre one ; pre property getting more expensive. So alternative is go for better built hub !

[@teohyc]

All I can say to those who spend so much is, thank you for supporting our economy.

[@kiatsan5781]

Thank you for not driving because plenty out there still can't drive. Really can't drive.

[@atlanta9286]

I'm renting a place right now, in England but I'm still struggling to afford that, prices are getting higher. It's sad because if you see more people are living on the streets because of it. I'm working stupid hours just to afford it, & I don't get a social life at all. And yes I'm on minimal wage, only getting £6.15 on hour.

[@ammelinecool]

Ki Suh-Hyung isn’t it £7.70?

[@atlanta9286]

@@ammelinecool no I get £6.15 an hour

[@ammelinecool]

Oh I see I just checked the rates. Completely forgot it’s also based on age. I was fine with my job at £7.70 per hour. Are you living in London by any chance?

[@atlanta9286]

@@ammelinecool yeah, it's really not a good amount. And no more near Yorkshire

[@rogerlim322]

Guess who is the more intelligent lady? The one who bought the million dollar flat so she can build an island kitchen or the lady who did a careful calculation of the financial expenses involved?

[@dc6958]

I know that lady Leng from Temasek Sec 😂😂😂. Great job!

[@awangmeds]

1:14 is that Batam Island?

[@thesingaporewealth1768]

Did he calculate correctly for HDB property tax ?

[@tcmelvinlee4804]

Is limited choices...driven by PR buyers, enbloc sellers and Very Bad Resell public housing policy and letting the market forces to determine the prices. Should revert back to HDB valuation's method and cap on Cash over values. We are pricing out of market now

[@janjanbeckham8]

That Jalan membina flat interior 😱😱😱😱😱😱...... Thought being photographer has better taste..😕. Seriously, the seller and agent are craps. The million dollar opposite at Boon Tiong Rd is only 5 years old

[@imtakumitrueno86]

It's funny how the electricity in this country is almost as picking a cell phone provider.

[@manofthehour_]

Could listen to Diana Ser talk all day

[@lucretius8050]

I think mostly all the "new" citizens buying up these units.

[@Sturmbannfuhrer2]

Yup all come here dump cash, that's how prices shot up many folds

[@OzzieOzzieOzzieOyOyOy]

It’s happening all over the world. My country, England. Also Canada, USA, Australia and NZ; and that’s just a few examples. I can’t afford to live in my own country, because I don’t earn enough money to live there on my pension. The rich and ultra-rich emigrate and price the locals out of their own homes, towns, cities and like in my case, even their own countries.

[@atlanta9286]

@@OzzieOzzieOzzieOyOyOy I know, I'm renting a place right now, but I'm still struggling to afford that, prices are getting higher. It's sad because if you see more people are living on the streets because of it. I'm working stupid hours just to afford it, and I don't get a social life at all. And yes I'm on minimal wage, only getting £6.15 on hour.

[@OzzieOzzieOzzieOyOyOy]

@@atlanta9286 Damn, I didn’t realize the minimum wage was that bad. I’m so sorry. Best of luck to you. It’s ridiculous, isn’t it? There are so many people like you, barely scraping by. People like me, forced to live abroad. A ton of homeless people. The charities focus on international interests instead of at home. The rich only get richer, and the rest of us are fucked.

[@atlanta9286]

@@OzzieOzzieOzzieOyOyOy yep pretty much, once people become rich, some just don't seem to care about the people that have to so damn hard just to make a living. From paying my bills & rent I'm only left with about £20-30 to pay for food and stuff, it's become that tough I'm now saving money which is good, but it means I can't really buy anything for the house. I hate this world that we're living in. I bet prices will increase through years time as well. Living in today's society is a really struggle unless you have money or a good qualification then your fucked........

[@armistice2358]

Definitely alot better than condominium. I can see a competition between the two. The HDB gives you good location, view and spaciousness, Condominium on the other hand give you more security and amenities but the living area is small

[@CPFZeruel]

What's driving up the prices of HDB resale flats? Greed.

[@liudaniel6656]

495 k profit for Phillip for million dollar sale ...but what about 2.6% per year if borrowing from cpf OA?

[@ibrahimbm1742]

Diana Ser has this intense look whenever she's interviewing someone. Chill lady!

[@mtm00]

Take your own advice and chill you!

[@RCT1234]

Ibrahim Bin Mahfuz agree haha

[@Ng-nv9to]

1 year later, it's time to forget about new highs as the terrible economic conditions are set to bring housing prices back down to 2008-2009 lows.

[@angeltan3622]

The walls are thin thus promoting fights between neighbors

[@deneshdiary]

Property price go up , salary still same :(

[@user-nf9xc7ww7m]

If its public housing, shouldn't the rent/mortgage be based on income? In other words, if I earn $2000 per month, shouldn't I pay $600 per month (30% of income)? How can a person making $500 per month afford $700 rent (or healthcare premium in the US)?

[@bsolutions525]

@@user-nf9xc7ww7m with ideas like that, I think you would be happy in a socialist country like venezuela, cuba or north korea

[@user-nf9xc7ww7m]

@@bsolutions525 Do you support social security? You communist! Go back to moscow 😋 Seriously, though. In many developed democracies, the ability to pay is taken into consideration for many things where people don't really have a choice - they need them. Are you really gonna shop around for a cardiologist with the cheapest price tag while you are dying? And I'd hardly call canada, UK, Sweden, etc north Korea or Venezuela.

[@dianazhou2909]

Is a good thing a bad things coz your condo or flats could earn a huge amount and u could buy a house which is not that ex but could fetch you higher prices than what u bought.

[@LonganLee]

Many don't know how much in interest they will be paying. Very well educated

[@arletamoya3256]

You get more house there for a million then you get in California

[@anonymousperson6713]

Well not really. With $1M in California, even in Los Angeles, you can get a landed property with a big land (3500-5000ft2). The problem with California is not really the psf price. But that zoning laws are too restrictive that the average size for a 1BR condo is 750ft2, which is too big compared to Singapore’s average 500ft2. So the problem in California is more towards zoning laws compared to Singapore’s expensive land price. You get much better value in California, but you can’t really find a small property to make it affordable. Just my opinion.

[@biibikiki1304]

The flat is disgusting .. what is with the ceiling of the house omg ... how much money u need to spend to get rid of the old creepy interior. And he is asking for how much?? this guy needs to wake up from his greedy dream.

[@jrukawa11]

Are you sure the property valuation can fetch such price?

[@becaaligma5738]

the bigger clown is the person who is willing to pay 1.19 mil for Phillip's flat lol

[@nadine.1993]

LOLOL 😂😂😂 SO TRUE

[@Confaderal]

Kimak~ the guy still got the cheek to sell his birds' nest at 1mil. Sialahhh.. He think he's king philip the second or what?!

[@qunali1598]

Greed simply takes over when theres no control.

[@elitepunch1498]

When a professional agent mentions *Luck* , one should already know how it all is going to end 😉

[@YokNg]

agent know nothing about price. their main job is to get sellers to sell and buyers to buy. never trust what they say. nothing more than powerful sales techniques just trying to close deals.

[@dt3144]

@@YokNg It's all abt negotiation skills...if agent is able to convince buyer or seller that's gd enough

[@That7Days79]

After 99years lease...😅$1M become $0cents...🤣

[@YokNg]

just so you know, breakeven is about 20% above purchase price after u consider interest paid and all the misc fees. so if u buy a 1mil HDB flat, your breakeven is 1.2m. Think about that! will you be able to sell your HDB at 1.3-1.5? and even if you do 10 years later, 200k over 10 years = 20k a year = 2% annualised returns. Congrats! you have just barely beat inflation!

[@user-nf9xc7ww7m]

Iirc Dont actually buy, you lease for 99 years. In other words, the value is lost as you cant pass to children (with them selling as need be).

[@user-nf9xc7ww7m]

Why not just give each person (including children) 1.5 ares (15m × 15m) of land? This can be sections of floors in buildings too. The landowner could then build a house on their own dime (including interior non-bearing walls and ceiling of towers), or move in existing one. Towers can have large windows (curtain-glass) grass and streets (hallway), so building can be just like building on open land.

[@dessertspring6206]

I never understand why single SPR are not allowed to purchase resale HDB, that’s a discrimination for minority group population are single, divorced, widowed. Government using housing policy to boost population growth 🤦

[@purpleorchid2224]

Yes, govt is very unfair to singles, divorced, widowed, and also senior citizens by imposing so many restrictions on them to buy BTO.

[@Tyler_Memo]

Wow , 1 million dollars flat . That's really expensive . For me i love mini homes . Limited my own stuff keeping so that i don't over keep things .

[@LonganLee]

Hope the buyers get 30 years loans. That's the smart way to get trapped financially

[@bowlampar]

Not worth it, with Million dollar price tag, i will buy a new one or just go across the causeway for much better deal. You are more than welcome to purchase them if you like.

[@gemasboy]

So, have you bought your MY property yet? I’m guessing - no?

[@weiwenwwe2066]

Then coronavirus says hi and now you stuck

[@ShhhHhhhz]

i think the price of convenience is real. Amenities and lesser commune times are prices that people willing to fork out for.

[@syuenartist7704]

Diana Ser is beautiful on the inside and outside.

[@imtakumitrueno86]

When they say a 1 million dollars are referring to u.s. or what currency are they foreign too?.

[@user-nf9xc7ww7m]

I was gonna say, if S$1 million = $100,000 then not so bad 😉😁

[@ChinRubbingVideos]

Diana Ser is ah beng racer? her Honda got so many gauges. I think got Nitros connected

[@user-nf9xc7ww7m]

Doesnt the news spell out acronyms, even if a guest says it? Would be nice for a refresher on how the housing market works.

[@myeongwol]

this is HDB flat? for a public housing, this is so nice!

[@GenericMedusa99]

Phillip needs to see a doctor

[@superconnie5003]

Live is city centre bcos traveling from outskirts to town is a killer.

[@LonganLee]

In exchange for extremely mental financial stress, I think it's worth it.

[@guruchoykokkee]

A house is an extension of oneself, that I can understand. But a 99yrs lease HDB flat for a million....unless u really love that tiny expiring space and happily to waste a million.

[@BoggWeasel]

Too many people with access to easy credit and are willing to overpay....

[@Utube1024]

No wonder 4D and TOTO queue getting longer.

[@LonganLee]

These buyers will hope for population 10million in order to be able to sell higher

[@poonahmei6322]

Hdb is getting out of reach for the young. Soon there will be accumulation of frustration

[@sonnee44]

renter generation~

[@wolferx4759]

They can say it's worth 5million, doesn't mean people pay for it

[@jrukawa11]

Ahhh, in the end is an advertising for SWITCH. No free view indeed. #clickbait

[@powerboy8379]

This is just madness.

[@natsumidesu8019]

I'm not sure if they're talking of US or Singapore dollar?

[@TMM-N]

location mah...its nearer to CBD...

[@hellbeckham]

the million dollar bubble gona pop soon

[@dt3144]

Willing buyer willing seller....why not?!

[@Asher89leo]

Sooner or later Singapore will be like Hong Kong.

[@hasyy151]

Developed hong kong

[@jyc1952]

what is firerets?

[@kirkchua]

Haha. Agent sell agent mark up price ah? Defeat the purpose of a HDB flats alrdy,affordable housing. Seller better hold till they die 😂

[@dt4737]

I pity the poor Singaporean.

[@csiajoo]

my bloody HDB flat only worth less than 1/3 of million...

[@jolynksy]

Edna from The Incredibles!

[@ledylady9678]

Worth million dollars but stiil share land with others, thanks.

[@DarkwearGT]

Its location

[@jakefromstatefarm7363]

Aye u again

[@Goodvibes-no9rp]

Time to wait for the property to crash, then when bottom low then buy

[@benyun483]

Only 5 years old, high floor, good view hdb flat is able to sell over a million !

[@Wan-ft4xg]

I ve seen thing happen n its not good🙄😒

[@MOHAMMADAZMIABDILLAHABE]

i rather move to Indonesia than stay at such small flat if i have a mil dollars lol

[@kehidupankanada]

$1 million we all dun hv that kind of cash.

[@freescoring]

If you are talking about capital appreciation on the house that you are living in, you are taking wrong wealth planning advice.

[@373737123]

hahaha what a joke 1mill ddb wall... after 99 years no value... its is design not for ur grans children to stay

[@benyun483]

I but my present house without thinking selling it next time. I will pass it to my children. I think many home buyers do think it that way.

[@sanosukesada7834]

Cruelty to citizens.

[@jrukawa11]

Why most of the wife want an island kitchen? Even if they can’t afford it

[@imranhamid6300]

Ask the next door neighbours left,right,one level up n down..can fetch $1million?

[@Ace7of7Cups]

million dollar apt? I wonder how the working classes live there

[@LonganLee]

Eventually $0

[@hungryomnivore8282]

Mostly due to cash rich en bloc sellers.

[@13bb11]

I didn't know singaporeans so rich one uh. 1 MILLION DOLLAR H D B???

[@lcy3877]

These flats are mostly in prime areas.... It all depends on the location

[@makkaucbkia9640]

Now you know.

[@vinny4149]

Same thing as anywhere else. Open door immigration.

[@yhong9733]

Good luck singaporean

[@Ongyt888]

Should’ve Diana Ser break down who is the Buyers by percentage with real statistics proof from HDB show on the below links ?? Singaporean 45% or lesser , Ft singaporean 35% , Ft 20% ... I only see the rich buyer buying a unblock view n Singapore island only have a few area w million dollars marks , wat about all the middle n lower class buyer breakdown ... who drive up the sale ( still unknown n Hidden?? ) funny videos 🧐🤫🤭

[@BeOutstanding]

FT cannot buy HDB unless they are married to a Singaporean.

[@avatarsim8765]

Yah likely people would want to consider 1.19million. The flat is ugly looking and the only price I see is 450k ish is only realistic for a 5 rm hdb. to sell that kind of price might as well get condo. Tbh this kind of people are spoiling the market where everyone has to pay so much for a hdb.

[@zulkiflimohd2868]

Hello ,, CNA good job ... But to understand the price increase we need to get answers from the PAP gov . Pls do a follow up !! Regarding low birth rate is it related to : 1 ) Housing prices 2 ) House size 3 ) parents care The people need to know if the gov is serious about ensuring that Singaporean EXIST , and not just new citizens who will take 3 generations to adapt . We have many foreigner who exploit the system . Example , a wife retain her original country citizenship while the husband takes up citizenship . Thus they get all the perks of a citizen, as do the children . Also for Pilots , their own country have passed a law that guarantees any Philippine citizens can get back their citizenship even after emigrating ...... The Gov is either unaware or is just keeping silent for all these “bypass” are increasing the housing prices . A country is only as strong as the people who are loyal ....

[@vnc81]

I thought its the FTs that are driving up the property prices? Some Singaporeans are really well off.

[@lcy3877]

Foreigners cannot buy HDB! Unless one of the couple is citizen

[@vnc81]

@@lcy3877 two PR also can buy resale HDB.....

[@lcy3877]

@@vnc81 really? I asked my parents before they say need to have at least one citizen (they're both Singaporean) :0!! What about new flats? But anyways most of my friends whose both parents are non citizens live in condo

[@vnc81]

@@lcy3877 Only resale. Two PR can't purchase new HDB. Anyway the video is about resale flats crossing 1 million dollars.

[@jrukawa11]

Still managed by taiko SPgroup, stupiak isn’t it