Friday, July 16, 2010

Public Housing in SG and HK

Been reading alot of HK forums where one of the biggest topic is the housing policy in Singapore. Opinions varied but they generally belong to 3 clans:
1) SG is good, HK is shit (In terms of housing policy)
2) HK is good, SG is shit (Mostly talk about why HK is good with late MTR, nightspots, freedom to scold Donald Tsang, and not a single one talking about the housing policy...)
3) SG is a country and HK is a city (Basically telling people not to compare)

Some interesting points from each camp (note its a HK forum so I suppose most contributors are from HK):
1a) 20% CPF(MPF) contribution can be used to finance the property while the MPF contribution in HK can't be used for property.
1b) At least 700sqft actual size in SG
1c) There is enough for everyone as long as eligibility critera met
1d) So many HDB flats are available but private property prices not affected, contrary to what HKgers believe that once you have sufficient public housing private property prices will collapse (But I think given the culture in HK, it WILL collapse! lolz~)

2a) Cannot buy pornography in SG 7-elevens
2b) Cannot eat chewing gum in SG
2c) Singapore have 7% GST
2d) No places to go on Saturday night
2e) Cannot get a taxi late at night and last train departs too early

See the difference in the arguments? I can never beat them...

Since my Shenzhen trip on Monday, the condition of my throat went on a downward spiral. I knew it would end up this way since Monday. Gave up yesterday and went to see the doctor. The usual drugs, the usual day off... Gas mask? I will bear that in mind the next time I go to Shenzhen. I just need it from the point I reach Huang Gang to the point I alight from the yellow bus. Will probably get pulled aside for questioning by the immigration and customs officers...


"Just Me" said...

Ok u lost me there for a couple of does the chewing gum and pornography tie in with public housing comparison?

Truthfully, i dun think the private housing in Hk will ever collapse even if public housing gets better. The argument goes that Hk people are more status conscious and the more expensive place they can show off the better.

So even if public housing in Hk can house more young couples, they will aspire to try to afford a private condos. That said, with public housing made more avail, it will stall the hard to afford thru-the-roof pricing for private condo, which is not something the developers will appreciate, nor the current speculators..

I think sg has a sound housing plan though the $8k ceiling still borders on being ridiculous for some. Some people had to QUIT their job so that they can avoid hitting the $8k ceiling while applying coz their combined pay is $8.5K. Yet, the HDB does not take into consideration that the couple have to afford giving allowances for their parents, and affording a newborn. So i the cap is alittle unrealistic with the increase cost of living

WhiteDuskRed said...

$8k for HDB, $10k for EC, $12k for extended family in DBSS flats, and anything above I think it is reasonable to expect people to be able to afford private apartments or landed properties. Actually I think they have already considered it from as many side of the problem as possible without incurring unnecessary admin costs to cater for the exceptions which fall outside the above criteria.

But there are still Singaporeans who complain about not enough HDB for them. And when you remark to them that there are cheap($300+k for resale) and big(1400sqft) HDB flats in Woodlands they will change the subject~ sighz~

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