True.. out of the 1-2 million PRs working in Singapore, since they have CPF that cannot be withdrawn, I don't see any reason why they don't utilise the money to buy some properties like HDBs.. If prices go up, they can sell.. if prices crash, at most they can just forfeit the CPF that they can't withdrawn anyway.. I will be surprised if they don't own any properties in their country.. and it is impossible to check their ownership..
I don't understand why the govt policies are always biased against the locals.. If I want to retire in JB and I have a sum of CPFs that are kept by govt, why can't I use it for HDB? If HDB is really affordable housing for the poors, that is fine.. but HDB is not budget housing.. it is up to the market rate and some HDB are even better built than private..
Hehe i think the PRs see it as risk free investment and so not afraid to bid up the HDB prices, these people have no intention to stay long term, so no need to pay up in full, just need to pay a few years of instalments and then cashed out the profit and scoot off. Singaporeans who need to stay long term will end up paying the price for it.
Yeah lor the govt policies are always biased against the locals...only locals need to follow these policies while foreigners need not, just see how many Malaysia buses/vans/cars/lorries of lousy conditions are allowed entry and driving freely on the Singapore roads, some of them, especially the blue buses give out thick black smoke. Why only Singapore registered vehicles must be kept in tip top condition and check after 5 years if not cannot drive on the roads?
Oh yes luckily you mentioned, yeah not asking for subsidy here (infact i never owned any HDB or got any housing grant before), just the right to buy HDB at market rate and true some HDB are better than private, like Pinnacle at Duxton which I'll be very happy if i can afford to buy resale next time.
Is that too much for a citizen to ask for?!