Wednesday, March 26, 2008

Cityview @ Boon Keng only 1/3 taken up

Updated 5 April 2008: Cityview is only 1/3 taken up. 250 units out of 700+ units.
Updated 7 April 2008: City is now 2/3 taken up. 500+ units out of 700+ units.

Why am I not surprised that out of 3000 applicants for Cityview, the places are still not all taken up. The reason is very simple. Its because its HDB.

To get a HDB, you'll need to earn not more than $8,000 in your household. The figure is meant to keep HDB affordable to the general masses, where their median income is about $2,300. However, when you start seeing figures like $700,000 for a HDB flat, something must be wrong.

I have previously did my calculations in this post so I will not repeat it again. I feel that the current government agencies have truly lost touch with the original mission of their respective boards. HDB's original mission and objective. LTA's original mission and objective. Is $700,000 affordable?? $600,000 for a 4 room HDB flat?? Seriously, why someone would buy a $350,000 3 room HDB flat is beyond me.

HDB should not in the first place come out with DBSS. Why on earth would someone get a DBSS, and not a private apartment? They should have modified the Executive Condo (EC) scheme, which incidentally cap household income to $10,000.

Now they are re-opening the balloting again. They said that Tampines DBSS has sold all after they opened the balloting for the second time. However, they neglected to mention that Tampines DBSS highest price was only $450,000 for a 5 room flat, $250,000 lesser than Boon Keng DBSS 5 room flat! I would say Boon Keng next balloting will also be a disappointment.

I do not think that Singaporeans are that rich. Even if they are rich, they're also hit by the household income cap limit, so they are unable to get a unit. DBSS?? Another failure by HDB. Why don't they just concentrate on building affordable housing and stop doing these antics??

Anyway, as expected, latest news is that only an additional 250+ units were taken up after the second balloting. 200+ units are still left unsold, and I would say it will still be left unsold.


Anonymous said...


I share your thoughts.

All I can say is, many Singaporeans are stupid.

That's how the government make tons of money can justify by giving unjustified reasons why their ministers should be paid millions each year. That's how they treat commoners like us.

Yet, time and again, they vote for their "beloved" government during election!

People here are so passive, so slow to react, so angry sometimes on the inside but they are tamed on the outside. They believe all the sweet talk the singapore government gives.

Where is the affordability in buying HDB flats as promised?

And HDB and the idiotic Mah Bow Tan wrongly accuse us of rejecting places. Come on, many want to live in a 3-room flat but we are not qualified to buy ok!

They want us to eat simple, live simple by buying the cheapest bread. But when it comes to housing, we want to buy cheap? Cannot! What??!

Anyway, there is no "cheap" housing! My overseas friends said Singaporeans "siao" (mad). Spend$500,000 to buy a resale 15 year old flat?!

Why is the stupid HDB building all these DBSS or ECs when they jolly well know many just want a rood above their heads? Whoever said the majority want high class living in a flat? Did they do research or did they recklessly assume that? Clearly, it's the latter. So that they can make tons of money from letting private developers rule the show. Who suffers? Us commoners!

So vote for your favorite Government? One word for you Singaporeans out there who don't think enough. You are darn stupid!

(I don't even have to go on about stupid things that happen with LTA, MOE, etc.)

chantc said...

I think this is because it stems from one belief that the government believes in. And that is market is efficient.

The truth is that market is never efficient. That is something all the economists and the big guys want us to believe. In the market, the strongest win. True competition only comes when you have no winners and all are vying to be the winner. If there's already a winner, there will be no competition, and thus it becomes a monopoly, regardless of how many players are there in the market. Everyone follows the leader.

For housing, the needs are simple. Affordable, based on the median salary, not the millions that the ministers earn, amenities in the vicinity to attract people, and reliable public transport because cars are darn expensive.

At least I see a bit of improvement this year, based on the direction the government seems to be going. I think they are worried because of the BN loss in Malaysia. See how it goes.

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