Tuesday, 24 May 2022

I'm Happy like the Owners on the 48th floor of that $1.4 million HDB 5 room flat!


By now you should be aware of the 5 room HDB flat that was sold for a record $1.4 million.

HDB flats now can go all the way up to 48th floors! Power or what!?

Of course I'm not surprised. 

Have you forgotten 2021 was a good year for property sellers? Landed, condo, HDB resale, all prices went up!

You think why big daddy came out with the property cooling measures?

When you've made money (earn more), whether its downgrading or upgrading to this 5 room HDB flat, you don't really need to "eat water-melons all the way to the green bits"...

If want to have global recession, please have it within these 1 or 2 years... Then I got 8 years of runway for the recovery play off the lows.


Because I need to make a decision on my 65th birthday 10 years from now regarding my current HDB 3 room flat. I intend to squeeze blood from the HDB subsidy cherry by having my 3rd bite. Wink.

And the last thing I want is for year 2032 to be like 2003... If can, I would rather 2032 be like 2021! 

I can only wish! 




  1. Smol,

    Ehh need to wait until 65?

    Tot as long pass the 5-yr MOP can liao?

    Anyway don't need to stress on a fixed timeline. When it comes, it comes! As long as the price is good enough can liao!

    If my memory still intact, Singapore seems to have a residential property boom at least once a decade since the early-1990s:


    1. Spur,

      I'm planning to take a 3rd bite of the HDB subsidies/grants:

      1. Singles Grant $11K when I bought my Tanglin Halt resale.

      2. Enbloc $15K compensation when I hit the SERs Toto.

      3. I now eyeing this Lease Buyback Scheme at age 65.

      To qualify for the full $30K LBS bonus, I need to take OUT as much CPF as possible end of this year when I hit 55 by leaving only the Basic Retirement Sum inside CPF.

      Need to make myself as CPF "poor" as possible. LOL!

      What to do? I'm left-handed, right-brained penguin who "flies" under water...

      People rushing into CPF. I going the opposite direction.

      P.S. For causal readers not familiar with this watering hole, the Lease Buyback Scheme is the WORST option if you have dependents.

      Don't do it!

      What shoes to wear you follow your own feet.

      For my case, I've no dependents as in children.

      Financially, I would do much much better if I sell my top floor HDB Dawson flat in the open market, and move to another HDB 3 room flat in Yishun or Jurong West after my MOP.

      But then again, I already have enough.

      I don't need to "eat water-melons all the way to the green bits" like the buyer for the $1.4M HDB Henderson 5 room flat.

      I also want to enjoy the wonderful view and great Queenstown location of my Dawson flat during my golden years!

      Having Orchard Road as my "backyard" is kind of cool ;)

    2. Smol,

      Lol, I kinda figured that your 3rd bite will be either 2-rm flexi or LBS.

      Both will turn you into a full-fledged CPF Life cheerleader lol.

      The main drawback of LBS is that HDB doesn't give you the full proportionate value ...
      1. It pays about 22% less than if using straight line depreciation;
      2. It pays a whopping 46% less than if using Bala's Table.

      Selling on the resale market & applying for 2-rm flexi in central locations will likely provide more "take home pay", but obviously other drawbacks.

      But if the 78% is equal to a few hundred extra K to your bank account, then hey, it's good enough!! ;)

      NB: Govt uses straight line depreciation when dealing with individual small timers & the masses. It uses Bala's Table when dealing with property developers, institutional players & court decisions.

    3. Spur,

      Now you know why I much prefer 2032 to be like 2021 to "lessen" the leaving money on the table pain in choosing LBS...


      Then again, I'm not greedy. Very lucky already!

      I'll give an update 10 years from now. Imagine 10 years later, I were to get the full enbloc $398K valuation of my new Dawson flat back from LBS if Lady Luck were to continue to shine on me!?

      I have to warn casual readers LBS is only suitable for "niche" cases like mine.

      For majority of people with dependents, selling in the open market, downgrading, and topping your CPF to tap the Silver Housing Bonus (SHB) would be much better financially speaking ;)

      I'll be only topping up my CPF at age 65 to the FRS limit to get the full $30K bonus.

      Not a fan of CPF Life. (Never a socialist)

      I prefer the old CPF minimum sum scheme where my CPF money is my money. Clearly compartmentalised.

      Now big daddy is moving towards socialising where bricks from east wall can be used to patch holes in the west wall...

      I'm a believer in small governments. So voluntarily contributing to CPF is not my cup of tea; I prefer to squeeze as much OUT from CPF instead ;)

      Big daddy already slowly closing the loop holes... What goes in will always stay in as part of the "spin" that will increase your future CPF Life payouts... You better pray you got the gift of long life!

      I'll be the west wall with long life like Dr Mahatir, "Thank you east wall!"


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