Thanks Kenneth. The Executive HDB flats are the 4 room flats? Do you know how much the people that typically live in them earn? I'm curious to get an idea of the wage multiple.
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Thanks Kenneth. The Executive HDB flats are the 4 room flats? Do you know how much the people that typically live in them earn? I'm curious to get an idea of the wage multiple.
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Dear YM,
1. The HDB Executive Flats in Singapore, normally comprise 3 x bedrooms, 1 x study room, 1x dining area, 1 x living area, 1x kitchen area, 1-2 x balconey areas and 2 bathrooms + 2 toilets.
2. Using the HDB's' existing policy of not exceeding S$8,000 per month maximun income ceiling to qualify for the purchase of the HDB Public Housing flats, and assuming the flat owners forms a nuclear family, we can safely assume that many of these Executive flat owners will have a family income of less than S$8,000 per month, and one which is more likely to be closer to S$4,000-S$5,000 per month household income range.
3. The HDB Credit Assessment policy was only officially implemented after the last 1997 Asian Financial Crisis. Under this HDB Credit Assessment Policy, the monthly loan interest repayment must not exceed 40% of the owners' monthly family household income.
4. Prior to the implementation of the HDB Credit Assessment Policy, many of the existing Executive flat owners were probably earning far less than the expected S$4,000-S$5,000 per month household income level, when they first acquired their HDB Executive Flats, from the mid 1980s period onwards.
5. For your comments and discussion, please.
6. Thank you.
Cheers,
Kenneth KOH
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&&&&&&&&&&&&&&It is no doubt that RE in Singapore is massively expensive.
My relative has a bungalow in a suburb bordered by highways a few blocks away with land area about 600 sq m, no views, double storey more than 20 y.o., no garage, 6 bedroom. Worth about Singapore $7m, some surrounding houses worth as much as $13m. No views, just a bit of privacy in suburbia.
That's about $6m Aussie dollar.
For $1.2m you can get a top grade property in the best suburb of Canberra.
With the rest you can start to live of annuities and never having to work at another's beck and call.
On the other hand if you want to buy the best property in Canberra, it is still possible for about $4.5m in Red Hill.
Yes the landed property owner from Singapore can just uproot and buy the best property in Canberra and live of annuities with the remaining cash.
From their point of view, Aussie RE is cheap.
Not surprising that I heard people from HK buying waterfront property in Sydney nearly on the spot when they saw the views and the price it is asking for.
Anyway, I hope this is not sprucing up, just my view about the Asian masses out there with money and what they think about Aussie RE.
Agreed.
Cheers,
Kenneth KOH
