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Chitchat HDB time Bomb for Sinkies
- Thread starter Pinkieslut
- Start date
1. Government has explained to us that HDB is worthless in Year 99 of the lease.
2. Newer HDB's resale prices are proven to be artificially inflated by new citizens and PR's speculations because the 40-50 years old HDB are exponentially cheaper despite their good locations.
3. HDB's racial-caps in each block has also hurt the resale value of the flats owned by minorities, eg. in some blocks, seller can only sell to Indians and non-Chinese/Malays, commanding $50-100K less.
2. Newer HDB's resale prices are proven to be artificially inflated by new citizens and PR's speculations because the 40-50 years old HDB are exponentially cheaper despite their good locations.
3. HDB's racial-caps in each block has also hurt the resale value of the flats owned by minorities, eg. in some blocks, seller can only sell to Indians and non-Chinese/Malays, commanding $50-100K less.
It’s not an asset. Hdb dwellers are tenants. 99 year lease, get that into their thick skulls. They still don’t realise they are the rare idiots who live in a purported first world but are treated worse than migrants. You will own nothing and be happy took root in SG. No wonder Schwab loves SG. It’s his examplar
If they call you a tenant, they shouldn't collect property tax from you.
I took up a 30 years mortgage loan when I buy my flat and had already faithfully paid for 15 years 
I will continue to pay my monthly housing loan for the remaining 15 years
Yes 99 years leasehold is an asset if you are able to hold on to it without selling it for dumb profit
I will continue to pay my monthly housing loan for the remaining 15 years
Yes 99 years leasehold is an asset if you are able to hold on to it without selling it for dumb profit
You are just an el cheapo tenant. Anything that you don’t own is not an asset especially when you still have debt lolI took up a 30 years mortgage loan when I buy my flat and had already faithfully paid for 15 years
I will continue to pay my monthly housing loan for the remaining 15 years
Yes 99 years leasehold is an asset if you are able to hold on to it without selling it for dumb profit
I have a different view from you.
(1) After the MOP I can sell my flat and make a dumb profit say $150K and move back to my parent home.
(2) I have a 99 years leasehold on hand can stay as long as I wanted ... if I don't sell it.
(3) Leaseback scheme is available for senior citizen I think is above 65 years old.
My 3 points showed that it is instead an asset.
By the way, I am a generous man ... don't make me
you ok!Fuck you pauperI have a different view from you.
(1) After the MOP I can sell my flat and make a dumb profit say $150K and move back to my parent home.
(2) I have a 99 years leasehold on hand can stay as long as I wanted ... if I don't sell it.
(3) Leaseback scheme is available for senior citizen I think is above 65 years old.
My 3 points showed that it is instead an asset.
By the way, I am a generous man ... don't make me
This guys is so fucking gullible, he does not know what he is talking about.
HDB resale flat prices are artificially inflated by the PAP. Not by new citizens and PRs. Who told you this? The govt controls 90% of the land and 80% of all residential units on the island. They are the price makers. If they sell new flats and BTO at cost price of $120K-$150K, you think new citizens or anyone for that matter will be willing to pay $800-900K for a resale flat? New citizens will quietly join the waitlist for a $150K flat. But because a new flat is priced so high by the PAP, the gap between those and a resale flat cause the resale flat to go up that high. Nothing to do with which foreigner buy what.
You are so fucking stupid, i don't even know where to begin.I took up a 30 years mortgage loan when I buy my flat and had already faithfully paid for 15 years
I will continue to pay my monthly housing loan for the remaining 15 years
Yes 99 years leasehold is an asset if you are able to hold on to it without selling it for dumb profit
1) U cannot buy your flat. It was never for sale. You are just renting it. U are the tenant.
2) U had to take a loan out to prepay your landlord (the HDB) for 99 years worth of rents up front. Get that through your head
3) The value of the flat is a bell curve. As the lease runs out, banks will not lend to older flat buyers and hence your flat will depreciate to zero value way before 99 years. People play the bell curve by transferring the lease to another sucker at what they hope is the summit of the bell curve.
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Your three points are the dumbest I have seen. Go ahead and sell your flat. See if you enjoy leaving with your parents or if your parents enjoy living with a son so stupid that they are sure to ask for DNA test. More likely your parents have rented out your room and getting good money. And where is your spouse going to live? You cannot buy a flat as a single, so somewhere, u have a found a cunt stupid enough to marry you. You make $150K, half is hers, and after return to CPF the portion u take out for down payments and monthly payments, you lucky to have $5000 in your pockets.I have a different view from you.
(1) After the MOP I can sell my flat and make a dumb profit say $150K and move back to my parent home.
(2) I have a 99 years leasehold on hand can stay as long as I wanted ... if I don't sell it.
(3) Leaseback scheme is available for senior citizen I think is above 65 years old.
My 3 points showed that it is instead an asset.
By the way, I am a generous man ... don't make me
By the way, Your flat is a lease. Not a leasehold. There is an important difference. U go and figure it out if you have a brain.
The leaseback scheme is a rip off design to take money off seniors. I do hope u go for it.
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Lol,actually depreciating,have a 5 rm flat 20yrs old ,if I downgrade to 4 rm ,the 4 rm younger at 10yrs old is more expensive then my5 rm,lol,go to 3rm ,I only breakeven or.maybe 10 to.20k profit,its a bell curve
There may be some fallacies on this thread, but hope that it may be clarified. Do correct me if I am wrong, as I am only an insignificant nobody simpleton.
1. When one buys a property regardless if landed, condo or public housing in Singapore, it is often on lease - 99yrs, 999yrs or land grants such as religious places which are forever. Thus, every citizen, regardless of whatever property will find their property worthless at the end of the lease tenure, & ownership reverts BACK to the elected govt of the day, which REPRESENTS the People of Singapore, which is us - the owners of Singapore land, to be redistributed to the next generation of citizens.
2. A TENANT who intends to hold on to his rental apartment for 99yrs will have to CONTINUE to pay for the apartment for 99 YEARS, where-else the BUYER of a HDB BTO flat only needs to pay off the loan for 30 YEARS, & after that, he owns the flat & pays nothing to HDB except town council fees & utilities, similar with condo owners whom pays far more.
3. As an owner of a HDB flat, he must comply with govt regulations, similar to condo owners, such as hacking of walls, noise control etc. Even the owner of a landed property while he can tear down & rebuild the entire unit, he still must comply with govt BCA regulations - structural integrity, underground drainage, sewage, electrical works remains intact, etc.
Thus, can a public housing owner be considered a tenant?
It is comprehensible on the anger & even outrage at PUBLIC housing costs. However, do remember, in 1965, our forefathers bought such flat at mere $15,000, but the average salary back then was only $300/mth. Today, our avg salary is $3000/mth.
One factor for the rise in prices which ALL can understand is INFLATION. It hits everyone. Decades ago, there were no lorries in Singapore. Most transportation were by horse carriages. Today we have even driver-less buses & trucks. For sure such will cost more than horse carriages. It is about PROGRESS & the price we have to pay for such conveniences.
Most will moan that salaries had not kept up with inflation. The root cause is due to the cheap cost of labour in 3 world nations - $400/mth for a job that will cost $3000/mth in Singapore. Most manufacturers would rather go there than to come Singapore. Thus if our labour costs rises, there will be no jobs for us, & we will have to crack our heads to make Singapore a better place of venue for MNCs than to fight on labor costs alone.
Secondly, we have to ERADICATE poverty worldwide, so that salaries will eventually rise in 3rd world nations, that would be comparable to 1st world nations & thus labour costs would be the same everywhere. It is a near impossible task at the current moment, but hope & efforts spring eternal thru WTO, UN Human Rights, responsible social media & governance, etc.
1. When one buys a property regardless if landed, condo or public housing in Singapore, it is often on lease - 99yrs, 999yrs or land grants such as religious places which are forever. Thus, every citizen, regardless of whatever property will find their property worthless at the end of the lease tenure, & ownership reverts BACK to the elected govt of the day, which REPRESENTS the People of Singapore, which is us - the owners of Singapore land, to be redistributed to the next generation of citizens.
2. A TENANT who intends to hold on to his rental apartment for 99yrs will have to CONTINUE to pay for the apartment for 99 YEARS, where-else the BUYER of a HDB BTO flat only needs to pay off the loan for 30 YEARS, & after that, he owns the flat & pays nothing to HDB except town council fees & utilities, similar with condo owners whom pays far more.
3. As an owner of a HDB flat, he must comply with govt regulations, similar to condo owners, such as hacking of walls, noise control etc. Even the owner of a landed property while he can tear down & rebuild the entire unit, he still must comply with govt BCA regulations - structural integrity, underground drainage, sewage, electrical works remains intact, etc.
Thus, can a public housing owner be considered a tenant?
It is comprehensible on the anger & even outrage at PUBLIC housing costs. However, do remember, in 1965, our forefathers bought such flat at mere $15,000, but the average salary back then was only $300/mth. Today, our avg salary is $3000/mth.
One factor for the rise in prices which ALL can understand is INFLATION. It hits everyone. Decades ago, there were no lorries in Singapore. Most transportation were by horse carriages. Today we have even driver-less buses & trucks. For sure such will cost more than horse carriages. It is about PROGRESS & the price we have to pay for such conveniences.
Most will moan that salaries had not kept up with inflation. The root cause is due to the cheap cost of labour in 3 world nations - $400/mth for a job that will cost $3000/mth in Singapore. Most manufacturers would rather go there than to come Singapore. Thus if our labour costs rises, there will be no jobs for us, & we will have to crack our heads to make Singapore a better place of venue for MNCs than to fight on labor costs alone.
Secondly, we have to ERADICATE poverty worldwide, so that salaries will eventually rise in 3rd world nations, that would be comparable to 1st world nations & thus labour costs would be the same everywhere. It is a near impossible task at the current moment, but hope & efforts spring eternal thru WTO, UN Human Rights, responsible social media & governance, etc.
Tay eng soon’s brother. Never lived in a flat his whole fucking life so he’s just talking from the top of his fat ass. Academic’s hot air just so he can add to his CV for the work he’s done this year
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