MM Lee kuan Yew:Dun listen to property agents and sell your flat

[glockman]

WTF is that old fox talking about? Those days, pple had no choice but to sell their land to the gahmen for peanuts! If they did not listen, they would've been forcefully evicted. Now he's trying to play the good guy?

 

[depeche]

I must say he is a very good lawyer/politician - the way the twist and turn with words [sometimes i even think he is Indian], what i do not understand is, why nobody [even media] ever question him about the flat ownership issue.

Who dare to question him??? All local media are under him in SG!

 

[jacobsgoh]

Who dare to question him??? All local media are under him in SG!

Hes got all Singaporeans and anyone living in Leeapore by the balls/cunts.

 

[GoldenDragon]

Why give advice. Just have a new law that says, once bought, can't be sold - yours for 99 years!

 

[longbow]

1) I agree with him, do not sell just to get money and then rent a place. Before you know it money is gone and you are still renting. Rental will continue to increase reflecting inflation.

2)BUT if you are planning to upgrade, or move to smaller flat since your children have all moved to Australia - SELL, take the profit and go bid for a small studio or 1 bedroom unit from HDB. You can unlock quite a bit of $. After all that 5 rm flat in Bishan might be too big for you anyway.

Some Singaporeans are stupid enough to sell their flat and rent. They then use the money on KTV, travel, buy a nice car and overnight they get themselves into big trouble. After all there is no much of a safety net here in Singapore.

Another way is to keep the flat and rent out 2 rooms. That can easily fetch $800 in today's market and is a pretty good amount to live on in Singapore

So MM makes sense. Although he might be looking at it from Gov having to take $ to help the idiots that sold, blow $ on KTV and travel then come looking to Gov for help.

 

[GoldenDragon]

1) I agree with him, do not sell just to get money and then rent a place. Before you know it money is gone and you are still renting. Rental will continue to increase reflecting inflation.

2)BUT if you are planning to upgrade, or move to smaller flat since your children have all moved to Australia - SELL, take the profit and go bid for a small studio or 1 bedroom unit from HDB. You can unlock quite a bit of $. After all that 5 rm flat in Bishan might be too big for you anyway.

Some Singaporeans are stupid enough to sell their flat and rent. They then use the money on KTV, travel, buy a nice car and overnight they get themselves into big trouble. After all there is no much of a safety net here in Singapore.

Another way is to keep the flat and rent out 2 rooms. That can easily fetch $800 in today's market and is a pretty good amount to live on in Singapore

So MM makes sense. Although he might be looking at it from Gov having to take $ to help the idiots that sold, blow $ on KTV and travel then come looking to Gov for help.

Don't forget the two casinos and the many legalised betting outlets.

 

[longbow]

Don't forget the two casinos and the many legalised betting outlets.

Ha ha - I suspect many of these foolish people are trying their luck at the casinos. Some might even be conned into investment schemes, purchase of magical stones, coaxed to donated to fake monks, etc etc etc.

You keep that flat, fully paid for and in the very worse case, rent out a room or 2 and you can expect to have a basic decent living with that $800 a month extra in rent.

Perhaps, HD can implement a 1/2 hour counselling session on why a person is selling the flat, offer suggestions, but the decison is still with the flat owner. There might be cases of children trying to take advantage of older parents with onset of dementia, etc etc THE OWNER MUST ALWAYS HAVE THE LAST SAY!

If it is a retired couple with kids all moved out, HDB could even help arrange for a purchase of a smaller room flat.

 

[GoldenDragon]

Ha ha - I suspect many of these foolish people are trying their luck at the casinos. Some might even be conned into investment schemes, purchase of magical stones, coaxed to donated to fake monks, etc etc etc.

You keep that flat, fully paid for and in the very worse case, rent out a room or 2 and you can expect to have a basic decent living with that $800 a month extra in rent.

Perhaps, HD can implement a 1/2 hour counselling session on why a person is selling the flat, offer suggestions, but the decison is still with the flat owner. There might be cases of children trying to take advantage of older parents with onset of dementia, etc etc THE OWNER MUST ALWAYS HAVE THE LAST SAY!

If it is a retired couple with kids all moved out, HDB could even help arrange for a purchase of a smaller room flat.

Yes, renting rooms out is a good option. $600 per room is about the market rate today. 2 rooms you get $1200, sufficient to see to monthly needs if you avoid the casinos and avoid getting conned. $40/- a day can easily include 3meals and 2 packets of cigs.