Friday, June 27, 2008

About this Blog


Just chanced upon this blog post that got me thinking ...

The Art of Subsidizing Housing in Singapore: "Market Subsidy NOT EQUAL TO NO LOSS

One of my relatives bought a flat after 6 years she realised that a similar flat now cost $80k less than hers. Her flat which was based on the market subsidy when she bought is now below the market price.


I think it comes as no surprise to anyone that our subsidised HDB flats are the most expensive public housing in the world. More expensive that in countries where incomes are far higher. Thanks to the market subsidy that we all receive, we should all consider ourselves lucky to be able to own affordable housing paid with loans stretching over 25 years.

This subsidized housing is also part of the reason why many Singaporeans will have very little CPF when they hit age 55 and have to work until they are 80 years old. Think about that, market subsidised housing that helps to motivate you to work longer and harder.....a uniquely Singapore phenomena."

Personally, I'm not into government bashing, for the sole reason that I don't think it is one bit constructive. Looking at the current property market, has it not been the existence of HDB, home buyers needing a home desperately would be totally at the mercy of the developers, is it not?

May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation


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Dear visitors:
Your comments are most welcome!

The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

Smart Buyer :)