Written by Wilfred Ling | ||||||||||||||||||||||||||
Friday, 25 December 2009 | ||||||||||||||||||||||||||
<iframe src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fwww.wilfredling.com%2Fcontent%2Fview%2F1011&send=false&layout=standard&width=450&show_faces=true&font=arial&colorscheme=light&action=recommend&height=80" scrolling="no" frameborder="0" allowtransparency="true" style="border-style: none; overflow: hidden; width: 450px; height: 35px;"></iframe> I was shown a Land Title Deed of a 5 room HDB flat. I was shocked to see that the “owner” of the flat is merely taking out a lease. The Title Deed clearly shows that the owner is not an “owner” of the flat. The Title Deed is given to the owner when all mortgages are paid. However, what is written in the title deed is a reminder that HDB owners do not really own their flat. The Title Deed shows that it is a lease probably because the property is a 99 years leasehold or perhaps HDB flats are tightly regulated government properties. Likely it is due to these two reasons. So should we rent instead of “buying” a HDB flat since the latter does not make us owners even if all mortgages are paid up? Well, for a 5 room flat it is not too difficult to rent the entire flat for $2000 per month. Assuming a time horizon of 30 years and that the discount rate is the same as inflation, the present value of this rental is the 2000 x 12 x 30 = $720,000! It is possible to buy a 5 room flat at a much cheaper price than this. Thus, “buying” a 5 room flat is still more worth it. But I still cannot swallow the hard fact that “owners” of HDB flat do not own the flat! Like this article? Subscribe to my mailing list by emailing to [email protected] to receive many more. <tbody> </tbody>
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Next time you hear someone talking about his/her house which is a HDB flat, just fuck them up and tell them that they are just a tenant paying market rental rates with interest and on top of that paying property tax annually. :oIo: Especially those 60.1% daft moronic dumbass. :kma:
"Nobody forces you to buy right" this was one bloody superficial IB quoted yesterday.And probably encumbered with a humongous housing loan relative to their income to boot.
"Nobody forces you to buy right" this was one bloody superficial IB quoted yesterday.
"Nobody forces you to buy right" this was one bloody superficial IB quoted yesterday.
maybe we should learn from the Taiwanese. the 40% should storm and occupy Parliament and demand Pinky faces us directly and explains his trashy policies to us.
maybe we should learn from the Taiwanese. the 40% should storm and occupy Parliament and demand Pinky faces us directly and explains his trashy policies to us.
maybe we should learn from the Taiwanese and go blue-green-blue-green, or white-blue-white-blue.
Taiwanese got balls, sinkie only have goli.......
Taiwanese got balls, sinkie only have goli.......