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Are HDBs affordable at all?
By Singapore Blue Chips  •  September 17, 2009
[caption id="attachment_1054" align="alignright" width="150" caption="Photo by 私奔到月球"]Photo by 私奔到月球[/caption] With reference to my earlier article, I have calculated that a couple who bought a decent 3 bedroom unit at Dakota Residences will have paid about $3.3M in interest and principal. It is an awful large amount of money. I would never even dare to dream I have that kind of money! What about HDB? Let us now consider the cost of HDB from a cost-salary historical perspective. I draw the following information from Lianhe Zaobao, 6/9/09, written by financial columnist Xu Li Qing. In 1970s, a 3 room HDB flat costs $8,000. A fresh graduate then earns $1,000 monthly. It is about 8 times his salary. Of course it was extremely rare to have a graduate then! In 1980s, a 3 room HDB flat in Ang Mo Kio costs $40,000. A fresh graduate then earns $1,600, which translates to 25 times his salary. Read more...
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By Singapore Blue Chips
I am an ordinary Singaporean guy in my early thirties who is passionate about investing since 2003. I live in a 4 room HDB flat and like many Singaporeans, dream of becoming a millionaire. Currently I am an ordinary worker and have just completed my Masters. I aspire to build up a portfolio of 1 million dollars and derive a yearly recurring dividend income of 6% by 35. The only way to achieve this aim is to work hard and invest prudently. I invest in a variety of instruments such as unit trusts, stocks, REITS and foreign currencies mainly Australian dollars options.
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