I find it strange PAP keep harping WP win will result in HDB price to fall. But if want look at the HDB records on the HDB website, one can see HDB flats in Hougang Ave 5 which is the heart of Hougang SMC, the prices of the 4-room flats that transacted there are not much different from Hougang Ave 8 which was run by George Yeo's Aljunied GRC. The prices for the last 12 months are as follow:
Hougang Ave 5 3rm flat : ranging from $245K to $330K (WP)
Hougang Ave 8 3rm flat : ranging from $220K to $326K (PAP)
Hougang Ave 5 4rm flat : ranging from $305K to $420K (WP)
Hougang Ave 8 4rm flat : ranging from $290K to $420K (PAP)
Hougang Ave 5 5rm flat : ranging from $340K to $527K (WP)
Hougang Ave 8 5rm flat : ranging from $390K to $496K (PAP)
Looking at the above figure, I fail to comprehen how did PAP come up with the logic that WP run hougang HDB flat worth less than the same across the road in the PAP run estate. The figure above are not bullshit, all taken from HDB resale e-service. On the whole, WP's Hougang worth more than PAP's Hougang. In fact, i use Hougang Ave 8 as comparsion place hougang ave 5 at a disadvantage as Hougang Ave 5 were built in 1983 while Ave 8 were built in 1986, some even in 1992.
So can PAP explain why people are paying more to buy a older flat in a "slum" while pay less for the newer flat in a "world clas estate" run by the PAP?
http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp
Feel free to click on the link to check, all the figures are from HDB website.
In property experts' view, prices are determined by location, location, location. Its not about the party.
ReplyDeleteHougang and Potong Pasir are no slums. Hougang is a clean and well-run estate. Potong Pasir does look slightly rustic but if you enter the estate, the residents looked genuinely happy and has this "kampung spirit" not seen elsewhere.
ReplyDeleteIf the old adage runs true "if it's too good to be true, it probably is". Hougang & Potong Pasir residents are lured by carrots of upgrading and multi-million facelifts to enhance their properties. Truth is after the make-overs, rentals of business will be increased and conservancy rates upped. Who bears the costs eventually? The people of Singapore. In the first place, the so called upgrading were made possible using the people's money. So there you have it, the double whammy effects of enhancing the value of your assets.
Don't succumb to their threats.The people has awaken.
ReplyDeleteEveryone needs to share this information.
ReplyDeletefyi, hougang is no slum...
ReplyDeletehttp://www.straitstimes.com/GeneralElection/News/Story/STIStory_657498.html
we even have HUDCs being privatised here... that's already more atas than some other pap wards. when the sinking funds issue is finally settled, no one will dare call hougang a slum again!!
personally, when Mr LKY made a remark about the housing value in hougang being priced lower than the other area, it definitely cannot be done as a comparable issue. There are many factors to look at when it comes to valuing a property. Factors such as age, location, sizes and amenities nearby all will matter to value the price of a property. As all of us know, singapore hdb is NOT a freehold estate and can only hold up to 99years. So, naturally if your property age is of 20 years and above, the value may not be the same as the one of a same size,younger age in precinct area like sengkang. Even it is going to be a comparison done with older estate like toa payoh, it is still not a similar situation to match because toa payoh is very near to bustling area like orchard.
ReplyDeleteThere are flats in avenue 8 that belong to hougang smc. You need to compare like for like.. distance from MRT, market etc. Did a small comparison myself and found that hougang smc's flats are indeed lower than the rest around the area having the similar attributes though not by a lot (10-30K).
ReplyDeleteThere are flats in avenue 8 that belong to hougang smc. You need to compare like for like.. distance from MRT, market etc. Did a small comparison myself and found that hougang smc's flats are indeed lower than the rest around the area having the similar attributes though not by a lot (10-30K).
ReplyDeleteThis is really good evidence. Why don't you write to ST forum? At least the older folks who aren't net savvy can be reassured that their prices will not be affect? I've just submitted my views on flat prices to ST forum too. Not sure if they'll publish. But you have evidence, you should do it.
ReplyDelete