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HDB is owner of all public flats, why leaseholders pay land cost and propery tax?

Man in the streets

Alfrescian
Loyal
If HDB is the owner of HDB flats, why sellling price factored in land cost ?

Also, HDB leaseholders are paying property tax ?

Even your toilets' sewers, the main trunk belongs to HDB and the branched pipes belongs to you . Sounds funny but it is real !

Opposition parties really have to discuss HDB matters with the voters this GE !
 

Cestbon

Alfrescian (Inf)
Asset
Very funny comment. Almost all country around the world have property tax.
HDB selling flat with land is base on 99year lease. What is the problem? If no lease is freehole then the country will be in big trouble. If the owner not willing to give up the property for developement. With 99 year some even shorter 30 year~60 year after expired the land will return to country.
If you manage the country without property tax then you will be in big trouble.
 

NoNewsGood

Alfrescian
Loyal
Very funny comment. Almost all country around the world have property tax.
HDB selling flat with land is base on 99year lease. What is the problem? If no lease is freehole then the country will be in big trouble. If the owner not willing to give up the property for developement. With 99 year some even shorter 30 year~60 year after expired the land will return to country.
If you manage the country without property tax then you will be in big trouble.

Do not confuse "lease" with "leasehold".

"Lease" is a tenancy agreement. You do not own the property nor have property rights to the property. Your landlord does.

"Leasehold" is ownership of the property. If you go Singapore Land Authority to check, your name will appear as the owner. Since you are the owner, you may pledge the property to the bank for loan or credit facility. You may also rent out the whole unit to anyone you like without asking anyone for permission.

HDB flat is a lease, i.e. tenancy agreement. Yes, the money you paid thinking that you "bought" this pigeon hole, is in fact money you paid for a long tenancy. You can go Singapore Land Authority to check whether your name appears as the property owner, or is it HDB?
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
Very funny comment. Almost all country around the world have property tax.
HDB selling flat with land is base on 99year lease. What is the problem? If no lease is freehole then the country will be in big trouble. If the owner not willing to give up the property for developement. With 99 year some even shorter 30 year~60 year after expired the land will return to country.
If you manage the country without property tax then you will be in big trouble.

Yes, nonewsgood is correct. U are mistaking a HDB lease as a leasehold property. It is not, its simply a lease.
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
If HDB is the owner of HDB flats, why sellling price factored in land cost ?

Also, HDB leaseholders are paying property tax ?

Even your toilets' sewers, the main trunk belongs to HDB and the branched pipes belongs to you . Sounds funny but it is real !

Opposition parties really have to discuss HDB matters with the voters this GE !

Frankly, many sinkies are too dumb to understand exactly what they are living in. Their flat is simply a prepaid 99 year rent. Many things should be paid by the landlord (including lift upgrading, etc.), but sinkies stupidly go along with "asset enhancement" and happily pay it.
 

ktc5972

Alfrescian
Loyal
Yes, nonewsgood is correct. U are mistaking a HDB lease as a leasehold property. It is not, its simply a lease.

You are absolutely right, that is why if you received the title deeds after paying in full, you can see for exactly how long you can hold the flat.

The best way to beat this system is either:
1. There is a change in the government, & they overturn the current policy to freehold, perhaps with a surcharge of land value added.

2. You hold on to the flat for no more than 30 years & sell it off & try to use the profits to invest a plot of land in a country of your choice.

3. You sell the flat after exactly at the period you finished paying fully for the flat, provide the market is hot & but a freehold condominium, which were sold in the early years.

4. To be frank, you only need a roof over your head, so it really doesn't matters much & stop worrying about your entry into the "true" property ladder.
 

zhihau

Super Moderator
SuperMod
Asset
If they are any smart, they would have kicked the PAP out long ago.

bro,

human civilisation is witnessing the increase in the level of intelligence over the last 5 decades, but i think the process got hindered somewhere somehow, despite the fact that our average IQ is almost on par with the folks in HongKong/China.

nontheless, let's take a look at the current batch of electorate, not too difficult to classify them into the few groups, namely:

1a. first time voters (local born)
general profile:
born between 1985~1990 (the Gen Y folks)
had not witnessed the changes brought about by our pioneers in the 60s & 70s,
do not feel indebted to the incumbent 'cept being bombarded by endless indoctrination,
do not give a hoot to authority, epitomized by that event where we see a young chap whom openly questioned old man's validity a couple of years back.

1b. first time voters (new citizens)
general profile:
new immigrants, loyal subjects to the Govt. (provided that they understand what forms the Govt. in a democratic society)
attracted to this land of promises due to our ability to enjoy the "Golden Period" despite the fact that our immediate neighbors as well as the world were in financial doldrums.
feel indebted to the incumbent, has the moral obligation to support the MIW and/or the Govt. (let's hope our new citizens have at least an iota of intelligence to figure that out)

2a. hardcore supporters (for the incumbent)
general profile:
this group can be sub-divided into a couple of smaller groups, but i've lumped them together for this GE since the old man is still around.
those smaller groups are namely:
i. those loyal to the old vanguard; they went through thick & thin during our nation's formative years, i can say this group is fiercely loyal, albeit a portion of them were jaded as the pioneers are slowly being replaced by new blood.
ii. those loyal to the party; those whom had received grace/help from their MPs in the time of their needs.
iii. those whom are employed in the quasi-governmental groups, namely the PA, RC, etc.

2b. hardcore supporters (for the opposition)
general profile:
this group can also be sub-divided into a couple of smaller groups, but i've lumped them together for easier reference.
i. party-based supporters;
ii. voters whom got fed-up with the PAP
iii. voters whom want diversity in the Parliament.

3. fence sitters
general profile:
this group is waiting for their arse to be poked. see which side is better, and leans towards the better group.

this list is non-exhaustive and can be altered accordingly.

folks who say that this is the deciding moment to kick the incumbent out, i guess it is rather plain to see.
group 2a and 2b counters each other out. i believe group 1a outnumbers group 1b, thus the ultimate target for both the incumbent and opposition remains on the fence sitters once again.

i guess now we know why we get our arse screwed time and over again...
 

zhihau

Super Moderator
SuperMod
Asset
hmm... keep getting an error in posting and ends up with a double post, what is going on?
 
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Manager

Don't mess with me
Generous Asset
99 years and then must give back to the government and some of you say you own it? what a fool!
 

ivebert

Alfrescian
Loyal
If HDB is the owner of HDB flats, why sellling price factored in land cost ?

Also, HDB leaseholders are paying property tax ?

Even your toilets' sewers, the main trunk belongs to HDB and the branched pipes belongs to you . Sounds funny but it is real !

Opposition parties really have to discuss HDB matters with the voters this GE !



Chao Sinkies

Because you have no Choice

Simple as that
 

Tunmasek

Alfrescian
Loyal
99 years and then must give back to the government and some of you say you own it? what a fool!

Must realize that the price which you pay for the HDB is too high for its absolute true value. That's also partly the reason why PAP isn't happy if you can get back your money in any way using the HDB.
 

ivebert

Alfrescian
Loyal
Must realize that the price which you pay for the HDB is too high for its absolute true value. That's also partly the reason why PAP isn't happy if you can get back your money in any way using the HDB.

So what's its absolute value

Go do some research on apartment prices in Tokyo, Taipei, Hong Kong and Shanghai

Cheebye Sinkie
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
99 years and then must give back to the government and some of you say you own it? what a fool!

Good luck to you on that. You and your descendent will never the flat lease fully expire at the 99th year. HDB flats are not even build or designed to last that long, their planned obsolescent is at the most 50 years. What they are doing is illegal. They promise to rent you your flat for 99 yearsm but they will think of some way to get you out way before than, whether thru SERS or some other scheme. HDB has absolutely no intention to honour the 99 year lease. There is more money in it for them to kick you out. See this thread.

http://www.sammyboy.com/showthread.php?50943-HDB-101-What-the-PAP-don-t-want-you-to-know.
 

Manager

Don't mess with me
Generous Asset
only fools pay a mil for a 99years lease pigeon hole..i never understand that.. a mil could have got them a freehold apartment. why did that fool invest in a hdb flat?? then again we wont understand what a fool thinks..

Good luck to you on that. You and your descendent will never the flat lease fully expire at the 99th year. HDB flats are not even build or designed to last that long, their planned obsolescent is at the most 50 years. What they are doing is illegal. They promise to rent you your flat for 99 yearsm but they will think of some way to get you out way before than, whether thru SERS or some other scheme. HDB has absolutely no intention to honour the 99 year lease. There is more money in it for them to kick you out. See this thread.

http://www.sammyboy.com/showthread.php?50943-HDB-101-What-the-PAP-don-t-want-you-to-know.
 
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coolguy

Alfrescian
Loyal
Actually if you are a honkie, taiwanese, japanese, chinese etc,
majority of them just rent the house when they live in these cities(kowloon, Tokyo, shanghai, Taipei etc) even though it is their homeland.
Unless you are very loaded and successful, then can you truly own a home in these cities.
Only in the city of sgland can the govt have the cheek to ask their citizens to "buy" their flat and took up a loan that took a lifetime for them to pay, all in the name of "asset enhancement". Then they allow these citizen to took on the role of home landlord who then rent their flat to the foreigners to ease their burden of paying the debt.
These ensure the value of the flat is retained as the citizens have signed up to pay for life, even though these foreigners can come and go.
At the same time, new bto flats are being built at a slightly lower price to allow the first time home citizens to eat the bait.
While these existing flats may increase their value as the years passed, the new bto flats are getting more and more expensive too.
As job securities became more volatile expecially for older workers, % of people getting into debt will rise.
So what is coined as asset enhancement actually becomes a debt trap as the years passed.
 

myfoot123

Alfrescian (Inf)
Asset
Do not confuse "lease" with "leasehold".

"Lease" is a tenancy agreement. You do not own the property nor have property rights to the property. Your landlord does.

"Leasehold" is ownership of the property. If you go Singapore Land Authority to check, your name will appear as the owner. Since you are the owner, you may pledge the property to the bank for loan or credit facility. You may also rent out the whole unit to anyone you like without asking anyone for permission.

HDB flat is a lease, i.e. tenancy agreement. Yes, the money you paid thinking that you "bought" this pigeon hole, is in fact money you paid for a long tenancy. You can go Singapore Land Authority to check whether your name appears as the property owner, or is it HDB?

Good answer, I hope opposition camp can tap on this logic to explain to the people and rebuke MBT who claimed our home is our asset. We have been fooled for too long.
 
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Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
only fools pay a mil for a 99years lease pigeon hole..i never understand that.. a mil could have got them a freehold apartment. why did that fool invest in a hdb flat?? then again we wont understand what a fool thinks..

Yes, they are fools, but they are bottledin every which way they turn. The playing field is loaded against them. In truth, even educated smart people cannot see this.
 
Z

Zombie

Guest
Do not confuse "lease" with "leasehold".

"Lease" is a tenancy agreement. You do not own the property nor have property rights to the property. Your landlord does.

"Leasehold" is ownership of the property. If you go Singapore Land Authority to check, your name will appear as the owner. Since you are the owner, you may pledge the property to the bank for loan or credit facility. You may also rent out the whole unit to anyone you like without asking anyone for permission.

HDB flat is a lease, i.e. tenancy agreement. Yes, the money you paid thinking that you "bought" this pigeon hole, is in fact money you paid for a long tenancy. You can go Singapore Land Authority to check whether your name appears as the property owner, or is it HDB?

leasehold is just a form of long term lease agreement.. there is no transfer of title..
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
leasehold is just a form of long term lease agreement.. there is no transfer of title..

Not true, in most forms of leasehold, you own the actual building or physical structure, also known as improvements. But you lease the land. On the expiration of the lease, either the land reverts back to the landowner in its original shape (which means u are responsible for tearing down the building) orthe land and improvements revert to the landowner. Therefore, because u own the structure, u are on title. The land is on a separate title.
 
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