Solutions to the HDB madness

[Starving.Artist]

I cannot believe the way things are going with HDB's new policies! FOr starters pte property owners buying HDB is not a new thing and up to 4 years ago just as the property market started to upswing, there was no problem with the property prices. so obviously pte / HDB owners don't seem to be the ones entirely at fault... PR's perhaps... i suppose.. but they are just doing what the regulation allows them.... so instead of killing one segment of the market why not just do what was intended in the first place and just control the price of the HDB buildings.

Each and every HDB is valued by companies appointed by the HDB.. that has been going up steadily. That means that HDB is partially responsible for the upping of the HDB pricing...

so anyway.. down to my solution. its not entirely original... but i kinda built on something i read

have all buying and selling done through HDB.. meaning if you sell. you sell to HDB at valuation. HDB then sells it at valuation. simple.. prices remain controlled and inflation is controlled.

then what about a choice unit.. how will that work.. what if 5 families want that high floor sea view north south facing apartment.. well then it should work like a 'buy it now' on ebay... when the apartment lists on HDB's listings a buy it now will appear. you click, you get and your income details are processed. first come first served. luck of the draw.. thus COV will not be the determining factor for success.

Will this work?

 

[borom]

Actually the solution is very very simple-ONLY CITIZENS CAN BUY PUBLIC HOUSING-including HDB resale.

This will not stop their much loved FT's from buying HDB as they can always convert to citizenship -but at least they are forced to make a choice and show that they are really committed to this place and let their sons serve NS.

I will only vote for a party that has this proposal as one of their election manifesto.

 

[xebay11]

Actually the solution is very very simple-ONLY CITIZENS CAN BUY PUBLIC HOUSING-including HDB resale.

This will not stop their much loved FT's from buying HDB as they can always convert to citizenship -but at least they are forced to make a choice and show that they are really committed to this place and let their sons serve NS.

I will only vote for a party that has this proposal as one of their election manifesto.

I fully agree, especially when there was a recent complaint from a Malusian who said that he was forced to choose btw owning an overseas property and HDB, that this the new policy was so not fair to him, as he needed two boats to step on. This would be solved if ONLY citizen's can buy HDB regardless if new or resale.

 

[allanlee]

actually the solution is very very simple-only citizens can buy public housing-including hdb resale.

I fully agree with this statement.

 

[silverfox@]

I cannot believe the way things are going with HDB's new policies! FOr starters pte property owners buying HDB is not a new thing and up to 4 years ago just as the property market started to upswing, there was no problem with the property prices. so obviously pte / HDB owners don't seem to be the ones entirely at fault... PR's perhaps... i suppose.. but they are just doing what the regulation allows them.... so instead of killing one segment of the market why not just do what was intended in the first place and just control the price of the HDB buildings.

1. Implement MOP is good. Restricts speculators.

2. Selling off of private property (local) for people who wish to buy HDB resale or even applying direct from HDB. HDB flats should be for those who really need them.

3. Selling off existing overseas property for people who wish to buy a HDB flat. Doesn't make sense at all.

One of the catalyst of HDB resale pricing shot up when few years ago, HDB eased the rules of subletting/leasing of HDB flats. So probably they should look into this area and bring back the old rules. Only those who are working overseas to be allowed to sublet their HDB flat.

We cannot put the blame on PRs when actually lots of these price speculation are from Singaporeans who chose to buy with high COV.

Each and every HDB is valued by companies appointed by the HDB.. that has been going up steadily. That means that HDB is partially responsible for the upping of the HDB pricing...

so anyway.. down to my solution. its not entirely original... but i kinda built on something i read

have all buying and selling done through HDB.. meaning if you sell. you sell to HDB at valuation. HDB then sells it at valuation. simple.. prices remain controlled and inflation is controlled.

then what about a choice unit.. how will that work.. what if 5 families want that high floor sea view north south facing apartment.. well then it should work like a 'buy it now' on ebay... when the apartment lists on HDB's listings a buy it now will appear. you click, you get and your income details are processed. first come first served. luck of the draw.. thus COV will not be the determining factor for success.

Will this work?

Valuation is determined by market forces. If its controlled by HDB where all buying selling is determined by only the price shown on valuation, Singaporeans are seriously going to be fucked.

The situation will be clearer when valuations and market demand start dropping and it has already started

 

[makapaaa]

Actually the solution is very very simple-ONLY CITIZENS CAN BUY PUBLIC HOUSING-including HDB resale.

This will not stop their much loved FT's from buying HDB as they can always convert to citizenship -but at least they are forced to make a choice and show that they are really committed to this place and let their sons serve NS.

I will only vote for a party that has this proposal as one of their election manifesto.

The Ass Loon Sell Cuntry Thief will tell you this this is 'not practical' and scare away his FTrash pets.

 

[Cestbon]

Build more HDB put in market. How many flat can citizen/PR can buy because each couple can only buy one unit.
Those have the private propert owning HDB.
1. Tripple the HDB property tax
2. No GST electricity/conservancy charge........... rebate make the rate same as PR.

Those rent out whole unit for ownership less than 5 year. Gov can prevent this by
1. Give incentive eg $1~2K for the information on the illegal rent out.
2. Tripple the fine.
3. Force the owner to sell it in 6 month. Or HDB will sell then.

 

[loloba]

I

Solutions to HDB madness

Singaporeans or non citizens are not allowed to invest on public housing. Is only fair they invest in private properties. HDB cannot build apartment for citizens or PR to invest.

1) PR are not allowed to buy HDB resale flat. They can buy private property, heard the many rich PR buy HDB resale flat and private property, stay in HDB and collect rental on private property. PR can buy private property.

2) Because of the many loop holes we have many Singaporeans buying HUDC flat for investment. Because there were rumnours that the HDB will eventually do away with all HUDC flats, they are doing by phrases HDB will enbloc all HUDC that is why 'investors' are willing to pay 900K for HUDC at and many Singaporeans who owned HUDC would not let go and at the same time they bought private properties.
There is another group of HUDC owners who rented out their whole unit for the last 20+ years without staying in the unit in the unit because the company provide accomodation. Because of the good income these family with unmarried children over 35 years would buy 3 room flat and rent out.

3) Many singles buy 3 room flat for investments. Rental for a 3room flat in Jurong East $1,700.00 per month. With this type of income nobody need to work.

 

[silverfox@]

Solutions to HDB madness

Singaporeans or non citizens are not allowed to invest on public housing. Is only fair they invest in private properties. HDB cannot build apartment for citizens or PR to invest.


3) Many singles buy 3 room flat for investments. Rental for a 3room flat in Jurong East $1,700.00 per month. With this type of income nobody need to work.

Stop subletting and leasing of HDB flats will bring the prices down. Only those who are engaged overseas to work are allowed to rent out their HDB flats, but their property tax must be higher than private property leasing as HDB flats are heavily subsidised as what HDB said.

I think it was in year 06 or 07 when HDB removed lots of stringent rules on leasing the whole flat which caused HDB flat prices to propel up.

 

[loloba]

Stop subletting and leasing of HDB flats will bring the prices down. Only those who are engaged overseas to work are allowed to rent out their HDB flats, but their property tax must be higher than private property leasing as HDB flats are heavily subsidised as what HDB said.

I think it was in year 06 or 07 when HDB removed lots of stringent rules on leasing the whole flat which caused HDB flat prices to propel up.

Property Agents with inside info of HDB regarding doing away with all HUDC apartments. These people willing to pay $900K to 1 million for a balance lease of 60 year. I would consider these people as investors they should be 'burned'. These are the people who pushed up property price. Even Marine Parade/Bishan/Toa Payoy all these apartments with less than 60 years worth 1 million dollars, their cost was only around 100K when it was 99 years. A 3 room flat with balance 60 year lease worth 350K, these group of people are true moron.

 

[ChaoPappyPoodle]

Do you guys seriously think the PAP gives a damn about lowering housing costs? If they wanted to they could have done a lot of things many years ago.

All this talk from the PAPies is just election talk. After elections, it is back to the same thing. They will just pretend like nothing happened. The media will stop reporting about it as if nothing happened.

Even with this new ruling, how many will be caught and persecuted? It's all a joke. Even if they talk about it later on, the PM will say, "what to do? I cannot control what people do in their country."

Stop masturbating yourself that any good can come for as long as the PAPies are still in power. Just speak to your family and loved ones and make sure that everyone knows why we have to vote the PAPies out of power.

 

[winners]

What's the point of debating? I don't even trust the PAPpies after their last election. They are too obsessed with greed and power. Ass Loon's "Citizens come first" rhetoric is a bull-shit. Don't fall into his trap.

 

[gohsanho]

Another solution is to disallow rental of hdb flats afterall they are built for those citizen who need it. Why allow those who do not need it to rental out? Get them to sell it or return to hdb for resale to those who need it.

 

[longbow]

They are shooting themselves in their foot. With all these new regulation, it is likely that HDB prices will drop significantly and since 85% already own HDBs, majority of pop will feel less wealthy - not a good thing for them when it comes to elections.

At the end of day, if voter feels wealthy (flat which they bought for $150K from HDB is now worth $350K) they spend more and are happy.

The solution can be very simple and should not have rules that explicitly encourage neighbors to tell on those that sublet illegal - bad for neighborhood feeling. HDB should step up enforcement instead and or increase the penalties. No need to have drastic repo of flat but fine them 1 year of rental gains. And of course for 2nd or 3rd time offenders - subject to frequent inspection and finally repo flat.

Instead they should just do what they are doing - increase supply of new flats, shorten time frame and offer more grants and subsidy. Most would prefer to buy direct from HDB if they do not need to wait so long. It should not be that it takes 5 years to get a new flat.

Resale - PR can buy but they need to apply for permission and permission is based on yearly quota. Net result to achieve is a 5 year wait before they can go into resale market to buy. Citizens can buy with no time restriction.

Remove all these restriction on buying overseas property. It is silly, impossible to enforce and has nothing to do with prices in the local market.

 

[silverfox@]

Property Agents with inside info of HDB regarding doing away with all HUDC apartments. These people willing to pay $900K to 1 million for a balance lease of 60 year. I would consider these people as investors they should be 'burned'. These are the people who pushed up property price. Even Marine Parade/Bishan/Toa Payoy all these apartments with less than 60 years worth 1 million dollars, their cost was only around 100K when it was 99 years. A 3 room flat with balance 60 year lease worth 350K, these group of people are true moron.

If people wants to buy HUDC apt at $900K-$1mill for a balance lease of 60yrs, they are a bit brain fried. Condos with 65-70yrs old cost slightly more. But what about the privatisation of HUDC, it also costs money.

Anyway back to HDB price madness, all stems from leasing. If there is no good returns from leasing, no one will want to buy HDB. This is the main root.

Since rental can get high returns, HDB should tax HDB owners who rent their HDB flats at 30-40%. That would make HDB rental non attractive for HDB owners and speculators.

 

[silverfox@]

Do you guys seriously think the PAP gives a damn about lowering housing costs? If they wanted to they could have done a lot of things many years ago.

All this talk from the PAPies is just election talk. After elections, it is back to the same thing. They will just pretend like nothing happened. The media will stop reporting about it as if nothing happened.

Even with this new ruling, how many will be caught and persecuted? It's all a joke. Even if they talk about it later on, the PM will say, "what to do? I cannot control what people do in their country."

MBT is going to be in deep trouble this election with all this major sweeping changes in HDB ruling. All this upswing and downswing in HDB pricing was all started by them. This time they are not cooling the property market. They are killing the market

 

[loloba]

If people wants to buy HUDC apt at $900K-$1mill for a balance lease of 60yrs, they are a bit brain fried. Condos with 65-70yrs old cost slightly more. But what about the privatisation of HUDC, it also costs money.

Anyway back to HDB price madness, all stems from leasing. If there is no good returns from leasing, no one will want to buy HDB. This is the main root.

Since rental can get high returns, HDB should tax HDB owners who rent their HDB flats at 30-40%. That would make HDB rental non attractive for HDB owners and speculators.

HDB mistake was to prove to citizens their assets are properties and CPF. Citizens very happy to invest in HDB. Singaporeans are 'good' investors, with good 'connections' and inside info all HDB had to do is to circulate this info (supposed to be from reliable source) that there was a design flaw with HUDC apartments and the government is doing away with HUDC apartments gradually, sinkies invest in HUDC for enbloc is a sure enbloc thing is a matter of time, at the expenses of those who didn't know about HUDC flaws thinking that singapore properties will continue to go up. Allowing PRs singles to buy HDB resale flat imagine a family with 5 siblings all single can buy 5, 3 room flat to rent out.

 

[loloba]

What's the point of debating? I don't even trust the PAPpies after their last election. They are too obsessed with greed and power. Ass Loon's "Citizens come first" rhetoric is a bull-shit. Don't fall into his trap.

True what is the point of debating something very wrong is brewing. With a population of 5 million and 1 million HDB flats 80% of citizens staying in HDB with (Singaporean and PRs) Singaporeans not able to afford HDB is a joke.

 

[LonewolfAlfa]

Well, MIW and SDA favourite solution to everything is tax. so just like vehicles, just implement a COE system for resale HDB flats.

++
Singapore Democratic Alliance secretary-general Desmond Lim, who spoke on behalf of the SDA Pasir Ris-Punggol GRC Election Office, said it "applaud(ed)" Mr Lee for understanding "many issues of concern to Singaporeans".

But Mr Lim felt a "social welfare tax" was needed for PRs who leave Singapore after accumulating a certain amount of wealth.
++

 

[longbow]

A downswing in HDB prices will create even more unhappiness at next election even more so that high COV. For every high COV there is a happy Singaporean selling out.

HDB misread the huge jump in population and so supply not enough. But they were already ramping up HDB dramatically and that should solve the supply issue withing the next 2 to 3 years. Right now they throw in all these rules, prevent FT from buying and then flood the market with supply - they will weaken HDB prices. Really shooting themselves in their foot.

In one move they create unhappiness amongst the 85% that own flats, unhappiness with FTs.

MBT is going to be in deep trouble this election with all this major sweeping changes in HDB ruling. All this upswing and downswing in HDB pricing was all started by them. This time they are not cooling the property market. They are killing the market