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Wednesday, 8 May 2013

It's not a Property, it's a House we needed

Property is definitely worth the investment, but that's provided you got the money.  Both my partner and I are normal citizen with mid-range household income = no money.  I believe a lot of people are like us, we don't need to know the future value of the property, we don't intend to make it an investment, WE JUST NEED A HOUSE as a home.

View from Bishan Ang Mo Kio Park

Currently about 80% of Singaporeans finds their home at HDB Singapore.   I am not sure if it is only me, but more and more people around me are staying at private condo.  My foreign neighbours in HDB are getting more and more too.  So I suppose there's going to be a decline in percentage in time to come.

La Casa - Woodlands

Flashback to 21 years ago, my partner stayed in a 1-room rented flat at Toa Payoh while I stayed at a Ang Mo Kio 3-room flat, sharing a room with my 2 sisters.  In order to get married, we clearly needed a flat of our own.

Application for HDB flats then was different from today.  Balloting system they called it, it's literally lucky draw.  We balloted 4 times for 2 years (1992 - 1994) before succeeded.  Not exactly lucky, but not suay to the max either.  We got friends who ballot for 5 to 6 times even, lolxx.....  As much as we preferred North area, it wasn't available during that time, so we chose Tampines.

Gotten ourselves a 4-room flat of 100m2 at S$105,900 in April 1997.   We made it just enough in our CPF to pay the 20% upfront.  In total, we waited for 5 years (from 1992 - 1997) before we could get married.

Blue booklet of floor plan and HDB's letter to submit S$1000 option (booking) fee to select a unit.

Now the value of our flat is about S$400,000, no intention of selling at the moment though.  Not sure how many couples had been through the same as us.  Some opt for HDB Resale to shorten waiting time, some with better financial status decided on private properties while some may chose to stay with parents with other future planings etc.

Many woes for young couples trying to start a family, but I suppose it's part and parcel of building a love nest :)


  1. Gosh, this is such a different world than how things are done here in Western Europe, even though there are differences among the countries as well.
    You write, you had to wait for 5 years until you could get married, is that due to society/religion or had it to do with not living together/monetary reasons?
    Up to you ofc to reply, but I am really interested in finding out how things "work"in Singapore, as I plan a vacation there and info by actual citizens is much different to what tourist sides offer :)


    1. To be specific, we waited for 5 years for the flat to be build. Cos' he can't be asking his sis to move her bed to the living room, neither can he squeeze in the same room with me and my sisters.

      During that time, we couldn't afford to rent a place, so we had no choice but to wait.