Xiao eh!

It is official… Singapore’s property market has gone mad. HDB just sold a executive condomium (EC) site in Tampines to Sim Lian for $392per sq foot per plot ratio.

And what does that means for lay person? A typical EC will costs the buyer at least $800psf which roughly translate to $800,000 for a 1,000 sq ft unit. Bear in mind this buyer has to have a household income of less than $10k per month.

First – $160,000 downpayment in both cash and cpf. I dont know many young couple will have this kind of money neither in their combine CPF nor cash.

Second – Loan of $640,000 over 30 years works out to monthly payment of approximately $2,200 assuming the interest rate remains at the flat rate of 1.5% (this is going to change pretty soon, believe me. The government is only able to suppress the inflation by strenghtening of Sing dollar but this is not going to be the case forever, the interest rate will going up eventually)

Gone were the days where if you work hard and save dilligently, you will be to afford a nice home for your family. To put things into perspective, a EC back in 2006 cost $400psf or less. Today, it is a staggering 100% more compared to mere 5 years ago. The EC scheme was introduced to bridge the gap for the raising aspiration of young couples want to stay private housing but cannot afford it.  Today, it seems that the EC scheme has lost its way and is redefining itself in a property market that has gone absolutely xiao liao

Without undergoing the cold extremes, there will not be fragrant plum.

现在我正在看「公主嫁到」而觉得连续剧里有一句「不经一番寒彻骨,哪来梅花扑鼻香」写得很有意义。

我觉得不知是否真的有梅花扑鼻香,但尽力了就无须感到遗憾了。

这也是我生命中作人的原则之一。

我相信如果集努力实现目标,方能珍惜结果。并会让结果更甜美。

Just Trying

and it is accepted! Heehee.

 

From Merriam Webster:

ji·had

noun \ji-ˈhäd, chiefly British -ˈhad\

Definition of JIHAD

1

: a holy war waged on behalf of Islam as a religious duty; also : a personal struggle in devotion to Islam especially involving spiritual discipline

2

: a crusade for a principle or belief