Owning a home to live in has become such a staple of the Singapore lifestyle. Up to a few years ago, housing prices have been reasonably affordable.
Is housing unaffordable?
Lately the price and COV (cash over value) being quoted is absurd. Is it really absurd or is it a matter of progressive inflationary forces that we cannot stop?
My fellow blogger la pappillion
blogged about his new house purchase at 568K for a flat that is 30 years old with a COV of 40k. That’s a total of 608k.
He will be paying 2k per month to service this.
My brother is also house hunting and the price he got quoted for a flat near to Buangkok MRT goes in the region of 550k. Buangkok! That’s to a lot of people not living close to be like Jurong West.
Yet more of my friends are doing their BOT rounds ......