crazy sellers

These days the prices for HDB are going sky rocket high! Last friday, the newspaper reported that someone bought a Tiong Bahru 5rm flat for $675k!! The valuation was $550k, which means the buyer have to fork out $125k cash above valuation. The worst thing is, the buyer is a enbloc sales person and he/she paid the flat with FULL CASH!! They are really the black sheeps and causing the property market to go crazy.

Last night, my property agent called me saying there is a 4rm at AMK and the seller is asking for $350k!! OMG! The estimated valuation for the flat at that area is about max $260k. Yes, that means is close to $100k above valuation!

How can we afford to pay such a amount? They really think everyone is a enbloc sale buyer whose pockets are full of cash??!! We are just ordinary, average income Singaporeans who just want to get a HDB flat because we can't afford a private apartment. I thought HDB should be more afforable?

When can we have our own flat??