Sing Holdings

[pianist]

I did a quick recalculation under the new MSR ceiling etc. Here are a few interesting stats for families earning 12k and intend to buy an EC flat.

If they can obtain a 80% bank loan at 30% MSR and 30 yr tenure, the family can only purchase a $1.005M flat. This is the magic number future EC projects have to price themselves in order to move units quickly. For a 11k monthly household, the magic number is approx $922,000

What does this mean for Sing Holding?
Its 5 bedroom flats are of 1636 sq ft. Using the above stats, they can only price the units at $614 psf
While 4 bedroom flats can be sold for at most $785 psf.

The only way many households can afford their EC flats now is to have cash-rich parents money to plonk more down payment or they themselves have enough cash/cpf to pay more than the 20% down payment and misc fees.

Skypark residence is also in this predicament.

Looking forward to the day I can buy a Skypark residence (1658 sq ft) or waterwoods unit (1636 sq ft) for $1M

<Still vested, just bored and decided to do analysis>

just across waterwoods on the other side of the tpe, are these many newly built flats block 180+-, I just learnt that they comprise mainly 1 or 2 room rental flats for the poorer rungs...I wonder how this may affect image of waterwoods?