I really pity Singaporeans and I mean PITY. With the amounting population of both PR and Singaporeans, it is very, very difficult to get a house in Singapore. A few years back, getting a house will not take a long time. Now it take years to get a new house. If a buyer is urgently seeking for a house, the resale houses are very expensive. In fact the price itself is the same as getting a 22 x 70 double storey terrace in Malaysia.

The recent launch in Punggol by HDB was over subscribed by 6 times. I know Singapore is a great country to live in; great public transport, nice ambiance, good facilities, good healthcare, fine foods, good security and so on. And due to this cause, the houses in Singapore is badly over subscribed. A house in Singapore is such a precious commodity that some even rent them out at high costs.

There are even cases of buyers who was trying to purchase a BTO waiting for years before finally giving up and bought out a resale flat.

Anyway my partner and I did try to apply for a BTO in Singapore. Our application was rejected even though my partner’s credit standing was great. They needed joint applicants who are working and you can’t even choose what house type (3-room, 4-room, 5 room) you want. They will calculate the total salary and from there they will ensure match the house type in par with your salary.

This means even if you want to purchase a 3-room FLAT for economy but  your salary is more than their threshold, you would have no choice but to stick to a 4-room and 5-room FLATS and paid by both partners. By the time you reach your retirement age, you’d be left with a fat zero in your CPF.

So much for having savings for your retirement age.

I am luck to be staying in Malaysia since the houses here are not as suffocatingly small and not priced at sky-high. No doubt the security, public transport and bla bla bla is not as good as Singapore but at least I don’t need to worry for my retirement age. I saved alot when I am staying here and it is less stressful than in Singapore where everyone rushes to everywhere.

Hehehe..

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