[Bigiron]

“Housing is already expensive, food is getting more expensive” – Singaporean asks if there is any point in buying a car in Singapore

https://theindependent.sg/housing-is-alr...singapore/

[Alice Alicia]

Say thanks to pap.

[Wy:Nox]

The worst is expensive food and housing as these are basic needs. The 4 Hopefuls were nominated to succeed PM Lee because they think and act alike.

It is illogical to vote for any 4 of them.

[FangFang]

Expensive now but complain also no use...

[Buffybuffy]

Sit MRT also headache. So many music also don’t know for what purposes. Only add on to sound pollution.

Sit bus again headache. People out their smelly feet on the seats. 

Sit grab lagi headache. Happy happy ask you cancel or KPKB.

[cityhantam]

Say thanks to pap.

Soon, got to thank Assmerica for pressurising China to increase prices! 

[moonrab]

For a small city, Singapore is rather cheap in housing and food. Vs worldwide. 
Buy BTO and eat at kopitiam. Not a problem to most Singaporean.

[winbig]

For a small city, Singapore is rather cheap in housing and food. Vs worldwide. 
Buy BTO and eat at kopitiam. Not a problem to most Singaporean.

But recent years the increase in food prices is shocking and people can feel the pressure from the steep hike. The steep hike can be up to 50% or more over a span of 2-3 years. For example. One of the cai png stall was selling around $3 (2 veg + 1 meat) around 2-3 years back. But over the period of 2-3 years, they keep increasing until around $4.50 now.

[moonrab]

But recent years the increase in food prices is shocking and people can feel the pressure from the steep hike. The steep hike can be up to 50% or more over a span of 2-3 years. For example. One of the cai png stall was selling around $3 (2 veg + 1 meat) around 2-3 years back. But over the period of 2-3 years, they keep increasing until around $4.50 now.

Don't forget, inflation is worldwide. 
Having a meal for SGD3-4 is consider reasonable to Singaporean's average salary of SGD4-5k.

In HK, today every meal at their neighborhood hometown cost at least SGD8-10. They average salary remains at SGD5k.

[winbig]

Don't forget, inflation is worldwide. 
Having a meal for SGD3-4 is consider reasonable to Singaporean's average salary of SGD4-5k.

In HK, today every meal at their neighborhood hometown cost at least SGD8-10. They average salary remains at SGD5k.

The meal now is at least SGD 4+. U can't find SGD 3 anymore, at least not around where I live. If the avg salary is SGD 4-5k, that means there're many who earn less than SGD 4k. The sudden spike in food prices is a great burden to them. Spike in food prices is also partly due to rental.

[red3]

The inflation battle horns have long started to push a drink to equate as a plate of food. A meal has already doubled in price since 2020 in a short span of time.

[moonrab]

The meal now is at least SGD 4+. U can't find SGD 3 anymore, at least not around where I live. If the avg salary is SGD 4-5k, that means there're many who earn less than SGD 4k. The sudden spike in food prices is a great burden to them. Spike in food prices is also partly due to rental.

Yes, rental is the main culprit for inflation, creating hardships for commoners. 
Same as the property price of a city. Keep on rising, chasing the rainbow. 

However when property price, rental fallen. Like no tomorrow. 
Many investors, jobs and probably whole economy will break down. Many commoners will lose their job and income too.  

That's the dilemma of capitalism. Constantly calibration of the system is the only way make out the best of it.
Singapore is not perfect, but the calibration process is at least on going. More vibrantly than many countries, especially comparing to our neighbours.

[Lukongsimi]

Tribulation coming

[EvertonDiehard]

For a small city, Singapore is rather cheap in housing and food. Vs worldwide. Buy BTO and eat at kopitiam. Not a problem to most Singaporean.

The problem is that most S'poreans have aspirations to upgrade to a condo/house and own a car. That aspect of the S'porean Dream is now firmly out of the reach of more than 80% of citizens.

[moonrab]

The problem is that most S'poreans have aspirations to upgrade to a condo/house and own a car. That aspect of the S'porean Dream is now firmly out of the reach of more than 80% of citizens.

Hmm...
My circle of friends and their children are not keen in car and condo. They are professional such as Accountants, Civil services officers, Bankers, etc..
With salary above 6k....combine income more than 12k...

Bto is their first choice, some even apply for it after graduation. Avoid income ceiling. Many only chose those are near MRT.
REASON is simple, a good BTO is the safest bet for ROI in future. 

Most can afford a car but choose not to buy one.
REASON is simple.  Singapore car is the worse value for money to buy. Only 10 years span for $150k purchase. 
Plus with Singapore convenient public transport. Who need a car, just Grab is much cheaper and efficient. 

The so call Singapore dream is coined by the market expert. But not a real facts in our world. 

Today's Singaporean is much more educated, shrewd in market values. We are fully exposed to the international market. 100% know what is worthwhile for investing our hard earn $.
No simple coined statement from Minister, MP, Opposition political parties, Experts can fool Singaporean easily. 
Or represent Singaporean perception in life.

Example; The Presidential votes surprised many, because TKL is just too silly in believing, he can fool Singaporean with his empty promises.

[EvertonDiehard]

Hmm...My circle of friends and their children are not keen in car and condo. They are professional such as Accountants, Civil services officers, Bankers, etc..With salary above 6k....combine income more than 12k...Bto is their first choice, some even apply for it after graduation. Avoid income ceiling. Many only chose those are near MRT.REASON is simple, a good BTO is the safest bet for ROI in future. Most can afford a car but choose not to buy one. REASON is simple.  Singapore car is the worse value for money to buy. Only 10 years span for $150k purchase. 
Plus with Singapore convenient public transport. Who need a car, just Grab is much cheaper and efficient. The so call Singapore dream is coined by the market expert. But not a real facts in our world. Today's Singaporean is much more educated, shrewd in market values. We are fully exposed to the international market. 100% know what is worthwhile for investing our hard earn $.

I am sure that not all S'poreans possess the drive to be the best version of themselves; many are content to only dream and not transform their aspirations into reality. I am not advocating that we put ourselves into long term debt and live from hand to mouth just to have a condo and a car. These are not "must haves" but our quality of life (as well as that of our loved ones) will improve significantly if we possess these items.  However, only purchase that condo and car if we are able to afford them while still having sufficient savings for retirement.

[mikotan]

Food cannot help, we need to import. But housing price is 100% within our control, but govt is not doing anything! Sad.

[watchfirst9]

Not sure if import more cheaper regional food can lower the price
as significant chunk is due to rental. Govt may not be the ones
increasing but private owners are eager to get their returns fast.

Still one third household got vehicle, so cannot say it is not affordable.
As car size is increasing over decades, car park and roads
will need to enlarge, so it make sense for govt to build MRT.
But so far the pan-island MRT route that cut the time most are
placed behind MRT lines for less developed new estates.
Only MRT to johor is on time, though retail and rental sector may cry..

To persuade people to abandon having a car or vehicle will be difficult

[EvertonDiehard]

Food cannot help, we need to import. But housing price is 100% within our control, but govt is not doing anything! Sad.

I wouldn't say that our politicians are not doing anything. They are laughing all the way to the bank at the people's expense!

[moonrab]

I am sure that not all S'poreans possess the drive to be the best version of themselves; many are content to only dream and not transform their aspirations into reality. I am not advocating that we put ourselves into long term debt and live from hand to mouth just to have a condo and a car. These are not "must haves" but our quality of life (as well as that of our loved ones) will improve significantly if we possess these items.  However, only purchase that condo and car if we are able to afford them while still having sufficient savings for retirement.

"I am not advocating that we put ourselves into long term debt and live from hand to mouth just to have a condo and a car"

Correct, it is not about ability to buy a Condo but the high gearing for a small flat unit doesn't make economical sense to many Singaporean. 
Especially when they have many choices to choose from HDB BTO. In terms of location, types of unit and 100% profitable after 5 years.

Only 17% of Singaporean/PR/Foreigner living in condo and 15% in landed homes.
If Singapore doesn't not has HDB housing scheme, I am very sure many Singaporean will buy a condominium. Similarly to the Honkies (50% homeownership).
Therefore owning a Condo is not a dream for the majority of Singaporean. 
It is just another choice, if one yearning for it. 

Many of my foreign friends wonders why Singaporean willing to pay for a condo $2 million over a HDB 500k. 
Same size, location and building condition. To them, the safety in Singapore is excellent for living, why need a surrounding wall to inconvenient ownself? A tiny swimming pool only for soaking but not swimming. A tiny gym that is always pack in morning and evening. And the $400 maintenance fee for all of these facilities. 
Plus the ROI depending on market sentiment, Singapore overall property price is well under Govt control. Ex the foreigner pay an ABSD rate of 60%...

Enough of my views about Condominium...🤣
Many owners will not like it..🤭 
Actually I sold off my sometimes ago. We only bought for investment and not staying. Many Singaporean buyers are the same. Not everyone making money.

[EvertonDiehard]

Many of my foreign friends wonders why Singaporean willing to pay for a condo $2 million over a HDB 500k. 
Same size, location and building condition. To them, the safety in Singapore is excellent for living, why need a surrounding wall to inconvenient ownself? A tiny swimming pool only for soaking but not swimming. A tiny gym that is always pack in morning and evening. And the $400 maintenance fee for all of these facilities. Plus the ROI depending on market sentiment, Singapore overall property price is well under Govt control. Ex the foreigner pay an ABSD rate of 60%...Enough of my views about Condominium...Many owners will not like it..Actually I sold off my sometimes ago. We only bought for investment and not staying. Many Singaporean buyers are the same. Not everyone making money.

I don't know which condo development you are referring to, but the first condo that I purchased after I sold my HDB flat over 20 years ago is rather spacious with 1 large and another slightly smaller swimming pool. I managed to shift to my present condo before Covid-19, which is even more spacious. There is no claustrophobic experience. The difference between a condo and HDB flat is the former has a strata title (genuine ownership) while the latter is purely a leasehold with no right of ownership over the piece of land where the HDB block sits.

[moonrab]

I don't know which condo development you are referring to, but the first condo that I purchased after I sold my HDB flat over 20 years ago is rather spacious with 1 large and another slightly smaller swimming pool. I managed to shift to my present condo before Covid-19, which is even more spacious. There is no claustrophobic experience. The difference between a condo and HDB flat is the former has a strata title (genuine ownership) while the latter is purely a leasehold with no right of ownership over the piece of land where the HDB block sits.

Today's condo at 1.5 to 2 million is small unit. 

Unless you buy 999 or freehold, the lease is the same 99 years. 
And not every condominiums property are good for en bloc. Especially those in outskirt HDB Town areas.

Over the few past recession periods, I know many owners selling at loss. Or house force sale by bank.

[cheekopekman]

“Housing is already expensive, food is getting more expensive” – Singaporean asks if there is any point in buying a car in Singapore

https://theindependent.sg/housing-is-alr...singapore/

Don't waste money to buy car lah!  If got car better sell away lah!

[talky]

Don't forget, inflation is worldwide. 
Having a meal for SGD3-4 is consider reasonable to Singaporean's average salary of SGD4-5k.

In HK, today every meal at their neighborhood hometown cost at least SGD8-10. They average salary remains at SGD5k.

avg salary 4-5k
4-5k for a family of 4-6 persons with the father working  2 school going age children  wife not working 2  non working parents  is enough ??

many are still earning <2.5k

[moonrab]

avg salary 4-5k
4-5k for a family of 4-6 persons with the father working  2 school going age children  wife not working 2  non working parents  is enough ??

many are still earning <2.5k

More than 50% of Singaporean households are dual incomes families. 
Today, it is not possible to ask a Singaporean girl to stop work and be a housewife. Unlike my time, we the husband was the sole bread winner. Wife took care of children and old folks. 

During my time, 5k was managerial salary level. I can buy HDB, raised my family including taking of my parents. 
After the first sale of my 5 room flat, upgrade to Condo with HDB profits. 
Sell Condominium make profit and buy resale HDB. 
Later buy Condominium again for rental investment. $ roll $. 
Sell Condominium again and buy BTO stay put for good. Parked $ into endowment and RA. Enjoy retirement. 
No millions $ loan. 
But one must have good money management sense without being greedy to invest more than you can swallow. No gambling, drinking, womanising and waste money on COE..🤣

YES, today single bread winner families with 5k have a harder time. But still manageable with wise financial planning. Buy smaller HDB, realistic expectations in what your family can have. Sell first HDB with profit and save up wisely. 
Your children will grow up become independent. 
Parents care cost must be shared with siblings. 

However, not many married couples are single income today. Probably single income households are the unmarrieds, old folks, or LGBTQ.