View Full Version : Khaw Boon Wan determined to make housing and HDB popular again
http://www.businesstimes.com.sg/sub/news/story/0,4574,439849-1306007940,00.html?
Published May 21, 2011
Khaw Boon Wan determined to make housing and HDB popular again
By UMA SHANKARI
OUTGOING Health Minister Khaw Boon Wan feels 'even greater trepidation' at heading the Ministry of National Development (MND) than when he took on his previous portfolio.
'I came to MOH (Ministry of Health) during Sars with some trepidation, not quite sure what I was walking into,' Mr Khaw wrote yesterday in his last blog post as health minister. 'I will go to MND with even greater trepidation. First, it is red-hot with widespread unhappiness. Second, unlike MOH, which is familiar territory, housing is a new frontier for me.'
But as when he took over MOH in 2003, he will enter MND 'in all sincerity' to make a useful contribution and with determination to make it better.
'I am driven by only one thought: housing is one of the greatest achievements of Singapore, and our pride. It is very sad to see it being hammered left, right and centre in the lead up to and during GE (general election),' Mr Khaw said.
'I am determined to make housing and HDB Singaporeans' popular icon again.'
Mr Khaw will be sworn in as National Development Minister today, replacing Mah Bow Tan. Analysts are expecting policy shifts from MND that will impact the HDB and mass market private housing sectors.
Mr Khaw also said in the blog post - titled 'Goodbye, My Friends' - that he hopes that Singaporeans will bear with him, and promised to work 'triply hard' to shorten the learning curve, 'listen intently' to all suggestions and criticism, and 'work humbly' with the housing experts in MND and beyond.
He also traced the major events that marked his eventful eight years with MOH.
'I joined MOH in 2003 when Sars erupted. MOH needed extra hands and then-PM Goh (Chok Tong) thought that my hospital experience would be helpful in the war against Sars,' Mr Khaw recalled.
'One thing led to the other: NKF (National Kidney Foundation), Ren Ci, H1N1, bed crunch, KTPH (Khoo Teck Puat Hospital), MediShield Reform, ElderShield, Medisave liberalisation, means testing, second medical school etc.' He added that there were many more things he wanted to do in MOH, such as transform the long-term care sector, ensure nursing home affordability, reform ElderShield, set up a third medical school, and expand polyclinics.
But he would entrust this agenda to the next health minister, Gan Kim Yong. 'I am leaving MOH with optimism that our healthcare system will continue to make progress. I am confident because of the quality of leadership at MOH and its many world-class institutions. We are not perfect, I know. But it is not bad. It certainly offers very good value for money,' Mr Khaw said.
those who bought mass market condo and resale hdb for the past 2 years is going to regret for life...
Housing and HDB have always been popular. Just look at the property sales and BTO over-subscription rate in recent years. Strange comment.
Housing and HDB have always been popular. Just look at the property sales and BTO over-subscription rate in recent years. Strange comment.
What KBW meant is, housing is supposed to be one of the biggest achievements of PAP government , and yet ppl attacked PAP's housing policies left right center during the election. It's very sad to see HDB being used against PAP, because , by all accounts, allowing 80% of the population having a house calling their own is a real achievement by any standard.
So I guess he will go populist this time. Winning votes is more important for PAP now.
HDB resale flat buyers, you are going to repent for the next 5 yrs. KBW just needs to do one thing to make HDB "affordable": no PR for HDB. Resale COV is guaranteed to drop to 0! :cool:
What is implication on mass market properties?
What KBW meant is, housing is supposed to be one of the biggest achievements of PAP government , and yet ppl attacked PAP's housing policies left right center during the election. It's very sad to see HDB being used against PAP, because , by all accounts, allowing 80% of the population having a house calling their own is a real achievement by any standard.
So I guess he will go populist this time. Winning votes is more important for PAP now.
HDB resale flat buyers, you are going to repent for the next 5 yrs. KBW just needs to do one thing to make HDB "affordable": no PR for HDB. Resale COV is guaranteed to drop to 0! :cool:
What KBW meant is, housing is supposed to be one of the biggest achievements of PAP government , and yet ppl attacked PAP's housing policies left right center during the election. It's very sad to see HDB being used against PAP, because , by all accounts, allowing 80% of the population having a house calling their own is a real achievement by any standard.
So I guess he will go populist this time. Winning votes is more important for PAP now.
HDB resale flat buyers, you are going to repent for the next 5 yrs. KBW just needs to do one thing to make HDB "affordable": no PR for HDB. Resale COV is guaranteed to drop to 0! :cool:
Those are the good work of PAP in 1970s to 1990s, and allowed PAP to stay in power for so many years. Those are the good old days and the dedicated senior officers and ministers are gone or retired. Since 2000s, HDB is a cash cow.
No PR for HDB will cause MM and mass market condos prices and rentals to spike.
What KBW meant is, housing is supposed to be one of the biggest achievements of PAP government , and yet ppl attacked PAP's housing policies left right center during the election. It's very sad to see HDB being used against PAP, because , by all accounts, allowing 80% of the population having a house calling their own is a real achievement by any standard.
So I guess he will go populist this time. Winning votes is more important for PAP now.
HDB resale flat buyers, you are going to repent for the next 5 yrs. KBW just needs to do one thing to make HDB "affordable": no PR for HDB. Resale COV is guaranteed to drop to 0! :cool:Winning votes takes place 2 yrs before GE. In the mean time, up the price so that when price comes down in 3 years' time, all will adore PAP aka KBW...:D
linchong84
23-05-11, 20:40
Those are the good work of PAP in 1970s to 1990s, and allowed PAP to stay in power for so many years. Those are the good old days and the dedicated senior officers and ministers are gone or retired. Since 2000s, HDB is a cash cow.
No PR for HDB will cause MM and mass market condos prices and rentals to spike.
Although 3 million singaporeans hope for this to happen, but it will not. Doing that is too extreme a move and will portray singapore to be closing door to other countries. KBH just need to do the following things and HDB will be popular again:
(1) launch more and more and more and more and more BTOs.
(2) Keep the BTO price constant or even drop a bit.
(3) Increase income ceiling to 10k.
(4) Provide more grants for 1st timer.
The above 4 are normal policies, nothing spectacular, nothing extreme. But by doing them, many many many many many people will be happy. So who will be the unhappy ones?
(1) Those who just bought resale with 50k cov etc
(2) Mass market condo owners because high chance if BTO ceiling raised, DBSS and EC will raise too. So mass market condo will lose demand.
No PR for HDB will cause MM and mass market condos prices and rentals to spike.
I think there will be a chain effect, high rental, translate to higher yield, everyone will rush to get married and rent out hdb. Rich will be richer.private will spike too. Unless ft run out frm sg. Singapore will be deep trouble.
I think there will be a chain effect, high rental, translate to higher yield, everyone will rush to get married and rent out hdb. Rich will be richer.private will spike too. Unless ft run out frm sg. Singapore will be deep trouble.
At least in this scenario, citizens pocket the money and not pr :D
but then again this will sure discourage some foreigners to settle here...
Regulators
23-05-11, 21:15
what does kbw mean by making hdb a popular icon again? :doh: with more than 90% of the population living in hdb, isn't that popular enough? I think pap likes to get familiar people to hold portfolios even though the person may not have the substance. Getting someone who made a mess of our healthcare system to helm the mnd is just unbelievable :doh:
Those are the good work of PAP in 1970s to 1990s, and allowed PAP to stay in power for so many years. Those are the good old days and the dedicated senior officers and ministers are gone or retired. Since 2000s, HDB is a cash cow.
No PR for HDB will cause MM and mass market condos prices and rentals to spike.
just look at PPI chart before and after PR allow to buy HDB.
That will settles the question.
As to foreigners effect on private property.
Just look at PPI chart in 1970s, when they allow and disallow foreigners to buy private property all in space of 1-2 years.
Those are the good work of PAP in 1970s to 1990s, and allowed PAP to stay in power for so many years. Those are the good old days and the dedicated senior officers and ministers are gone or retired. Since 2000s, HDB is a cash cow.
No PR for HDB will cause MM and mass market condos prices and rentals to spike.
Which other country in the world allows PR to buy their public housing? don't think there is any.....:beats-me-man: Singapore is abnormal.... largely because of the fact that 80% already stays in HDB.
So, if the privilege is removed.... who can complain....
But it's not going to be popular... prices of HDB is going to drop. those existing owners will be upset. can't please everybody
what exactly is government selling to PR and foreigners?
As GCT said last year, they are selling air space.
foreigners like me bring lots of moolah just to buy airspace.
think.....and dont just complain
linchong84
23-05-11, 21:37
what exactly is government selling to PR and foreigners?
As GCT said last year, they are selling air space.
foreigners like me bring lots of moolah just to buy airspace.
think.....and dont just complain
tats why gct gone already..:tongue3:
At least in this scenario, citizens pocket the money and not pr :D
but then again this will sure discourage some foreigners to settle here...
I dont think anyone stand a chance to gain anything from drastic measures. 90% of ppl staying in HDB. If HDB price drop, how this 90% of singaporean will be benefited or happy? If price keep on increase it will benefit 90% of people. Eg. In an emergency situation at least after liquidation of the ppty still can pay for Medical. Hospital, retirement, pass on to next generation ..etc. With high price at least young couple will still stay with their aging parents until they save enough,,,i think is the young ppl that cant wait to leave their parents. We never hear senior citizen complaint HDB expensive. Think again, if aging parents fall sick, CPF not enough, no insurance, and HDB worth peanut, at the end is still the children need to foot the bill.
[LEFT]I dont think anyone stand a chance to gain anything from drastic measures.
Look i did not say that's a win win policy. However if u look at all the PAP haters in the forums, "HDB unaffordable" is one of the biggest complaints. A small group's loud voice drown out the real majority. PAP now is taking a very dangerous populist path. Once getting vote is the primary objective, national development takes a back seat.
Allthepies
23-05-11, 23:10
I dont think anyone stand a chance to gain anything from drastic measures. 90% of ppl staying in HDB. If HDB price drop, how this 90% of singaporean will be benefited or happy? If price keep on increase it will benefit 90% of people. Eg. In an emergency situation at least after liquidation of the ppty still can pay for Medical. Hospital, retirement, pass on to next generation ..etc. With high price at least young couple will still stay with their aging parents until they save enough,,,i think is the young ppl that cant wait to leave their parents. We never hear senior citizen complaint HDB expensive. Think again, if aging parents fall sick, CPF not enough, no insurance, and HDB worth peanut, at the end is still the children need to foot the bill.
finally somebody talking sense here :D
think.....and dont just complain
In every country, whenever there is a problem, foreigner is the 1st to be blamed. "they took our jobs" etc etc. Very normal. This world is not fair. Prepare for it. PAP now is going to be just another political party. And trust me, the younger generation just LOVEs it. For the thrill of it. " just like the US or UK, we can have multiple party campaigns and take turn to run the show". It's just so much more fun. All of them took it for granted without knowing it, that SG will run fine somehow :cool:
I knew u r just being cynical. U knew this fully well.
A small group's loud voice drown out the real majority. PAP now is taking a very dangerous populist path. Once getting vote is the primary objective, national development takes a back seat.
Well said, small group's voice drown out the real majority.Sad to say, we are also the one tht raise our young generation in such a way, Now we are just reaping what we have planted. We thought them to be vocal.
rattydrama
24-05-11, 00:37
What KBW meant is, housing is supposed to be one of the biggest achievements of PAP government , and yet ppl attacked PAP's housing policies left right center during the election. It's very sad to see HDB being used against PAP, because , by all accounts, allowing 80% of the population having a house calling their own is a real achievement by any standard.
So I guess he will go populist this time. Winning votes is more important for PAP now.
HDB resale flat buyers, you are going to repent for the next 5 yrs. KBW just needs to do one thing to make HDB "affordable": no PR for HDB. Resale COV is guaranteed to drop to 0! :cool:
too dangerous to stop PR from buying re-sale flat. Best is to give huge huge discount to singapreans first timer buying re-sale and/or remove levy for those who sell their first direct hdb purchase n upgrade to another direct purchase from HDB.
This will increase our population n pap popularity.
when no more complaint - remove the subsidy....lol
most importantly ramp up supplies.
what exactly is government selling to PR and foreigners?
As GCT said last year, they are selling air space.
foreigners like me bring lots of moolah just to buy airspace.
think.....and dont just complain
by all means go buy pte
just dont touch HDB, anyway also cannot already
new MND minister shld increase HdB supply and reduce pte pty supply, i.e. slow down GLS or convert land allocated for GLS to build HDB
the pty developers wont like it, but too bad cos it is about time they stop their own flipping game
Look i did not say that's a win win policy. However if u look at all the PAP haters in the forums, "HDB unaffordable" is one of the biggest complaints. A small group's loud voice drown out the real majority. PAP now is taking a very dangerous populist path. Once getting vote is the primary objective, national development takes a back seat.
this is a GE where only one constituency is not contested, and the result shows PAP's vote share declining to just 60%.
is this 40% just "a small group"? going down the path of the last 5 yrs may just cost the pap another 5 or 7% vote by 2016, so is this a risk that the pap is prepared to take? lol
the pap is smarter than u and me, and they know they hv to make some policy changes in order to halt or reverse the momentum in voter sentiment... exciting days ahead hehe
this is a GE where only one constituency is not contested, and the result shows PAP's vote share declining to just 60%.
is this 40% just "a small group"? going down the path of the last 5 yrs may just cost the pap another 5 or 7% vote by 2016, so is this a risk that the pap is prepared to take? lol
the pap is smarter than u and me, and they know they hv to make some policy changes in order to halt or reverse the momentum in voter sentiment... exciting days ahead heheGE's another 5 years so excitment will brew only in another 3 to 4 year's time. Usually most exciting just months leading up to it.
Anyway, the exciting things now are the policies and implementations which KBW has up his sleeves to keep a healthy housing market. :D
HDB is obviously a cash cow, but the profit will only show up in SLA/URA balance sheet. A lot of infrastructure plans have been committed e.g. the new North-South expressway, remaking of town centers, new MRT lines... All these need $.
Hence I doubt the price of HDB will ever come down. At most the grant to 1st timers increase, plus a few other barriers change e.g. raising the salary ceiling. I don't think HDB will affect the PR too much, because there are too many of them here and they also need a roof over their head.
I dont think anyone stand a chance to gain anything from drastic measures. 90% of ppl staying in HDB. If HDB price drop, how this 90% of singaporean will be benefited or happy? If price keep on increase it will benefit 90% of people. Eg. In an emergency situation at least after liquidation of the ppty still can pay for Medical. Hospital, retirement, pass on to next generation ..etc. With high price at least young couple will still stay with their aging parents until they save enough,,,i think is the young ppl that cant wait to leave their parents. We never hear senior citizen complaint HDB expensive. Think again, if aging parents fall sick, CPF not enough, no insurance, and HDB worth peanut, at the end is still the children need to foot the bill.
I ask u if there are more upgraders or Downgraders? Your scenaior about emergency is very rare.. Most people want to improve their life so if ppty price go higher, the gap between housing class also widen, so for the majority, as their salary rise, they want their next house to be cheap so they can upgrade. Prob over the last 5 years is housing go up faster than avg people salary so only rich speculators benefited. So for ptty to decline abit is good now for majority. It's only bad for minority and ESP those that bought over last 1 year or so.
I ask u if there are more upgraders or Downgraders? Your scenaior about emergency is very rare.. Most people want to improve their life so if ppty price go higher, the gap between housing class also widen, so for the majority, as their salary rise, they want their next house to be cheap so they can upgrade. Prob over the last 5 years is housing go up faster than avg people salary so only rich speculators benefited. So for ptty to decline abit is good now for majority. It's only bad for minority and ESP those that bought over last 1 year or so.
let's discuss about this extreme scenario:
no hdb resale for PR + hdb cannot be rented out -> hdb resale price sure drop like a rock :D
Maybe condo prices will be pulled down together, but by same proportion ? maybe not right...
er... then this group of hdb upgraders still able to upgrade to condo ?
I ask u if there are more upgraders or Downgraders? Your scenaior about emergency is very rare.. Most people want to improve their life so if ppty price go higher, the gap between housing class also widen, so for the majority, as their salary rise, they want their next house to be cheap so they can upgrade. Prob over the last 5 years is housing go up faster than avg people salary so only rich speculators benefited. So for ptty to decline abit is good now for majority. It's only bad for minority and ESP those that bought over last 1 year or so.
there are quite a few times that property price down, like during recession,yet I see people don't buy.
What people want is their next house cheap AND GUARANTEE that price of their house go up the next day after they buy it. If not, they wont buy even if cheap during recession.:doh:
What people want is their next house cheap AND GUARANTEE that price of their house go up the next day after they buy it.
of course, that's the name of the game. :cool: give me big subsidy either in the form of cheap BTO price, or huge subsidies so it's "affordable", then I can sell to the next guy with huge profit in the tune of 3-400k. after that I can upgrade to condo. :cool:
The job of KBW now is to ensure this Singapore dream to be alive, "again".
...so for the majority, as their salary rise, they want their next house to be cheap so they can upgrade..
look u are implicitly implying ur "next house" has to be an upgrade. it's not a "citizen's right" to "upgrade" u know. u r supposed to earn it. why there are only 10-15% of ppl living in pte condo ? because not every one can "earn" it. Out of these 15%, most are not speculators I think :cool:
there are quite a few times that property price down, like during recession,yet I see people don't buy.
What people want is their next house cheap AND GUARANTEE that price of their house go up the next day after they buy it. If not, they wont buy even if cheap during recession.:doh:The more realistic reason during recession is people afraid that their job (income) cannot sustain in the near uncertain future so don't dare to commit even when prices fall during such times... But during better times, yes they will look at the appreciation potential of the investment properties they are looking to buy... :spliff:
of course, that's the name of the game. :cool: give me big subsidy either in the form of cheap BTO price, or huge subsidies so it's "affordable", then I can sell to the next guy with huge profit in the tune of 3-400k. after that I can upgrade to condo. :cool:
The job of KBW now is to ensure this Singapore dream to be alive, "again".
well, the next guy to buy at high price is usually a PR. If closed immigration tap, all citizens can forget their dreams of upgrading to condo easily.
The more realistic reason during recession is people afraid that their job (income) cannot sustain in the near uncertain future so don't dare to commit even when prices fall during such times... But during better times, yes they will look at the appreciation potential of the investment properties they are looking to buy... :spliff:
is it? or are they the kind forever missing the boats. They want so much certainty that only after 5 years of bull run, that they decide market is going up and then they decide to enter property market. :doh: and 6th year is bear's turn..........
well, the next guy to buy at high price is usually a PR. If closed immigration tap, all citizens can forget their dreams of upgrading to condo easily.
You mean the HDB-Condo gap is getting smaller because of foreign buyers? I believe the gap is actually getting wider no?
That is why they want the surest win mah - 5 years MOP but buy HDB new flat at a significantly lower price than resale flat and when 5 years up, sell to upgrade to condo or to cash out some cash. Heard many people doing that. :banghead:
is it? or are they the kind forever missing the boats. They want so much certainty that only after 5 years of bull run, that they decide market is going up and then they decide to enter property market. :doh: and 6th year is bear's turn..........
is it? or are they the kind forever missing the boats. They want so much certainty that only after 5 years of bull run, that they decide market is going up and then they decide to enter property market. :doh: and 6th year is bear's turn..........Hahaha!!! YES... a mixture of every type of profile... :p
That is why they want the surest win mah - 5 years MOP but buy HDB new flat at a significantly lower price than resale flat and when 5 years up, sell to upgrade to condo or to cash out some cash. Heard many people doing that. :banghead:Many people are turned off by the MOP... hee! Instant noodle generation!!!
Today 80% of apartments are HDB. So if foreigners cannot rent or buy HDB then they can only be part of the 20% private property, so the prices will rise there. Especially rental will rise.
Of course some people will be happy but some people will be unhappy.
to those forbidding PRs to buy HDBs, what do you plan to do with current HDB PR owners?
to those forbidding PRs to buy HDBs, what do you plan to do with current HDB PR owners?
Like every rule it is only effective after a certain date. So those who bought last year can keep it. They are lucky because they managed to buy a home. But maybe a bit unlucky because of potential paper loss.
Like every rule it is only effective after a certain date. So those who bought last year can keep it. They are lucky because they managed to buy a home. But maybe a bit unlucky because of potential paper loss.Not only PR will sustain paper losses for HDB dwellers. Some 80% of Singaporeans will suffer similar fate. So such rulings are highly unlikely... :o
to those forbidding PRs to buy HDBs, what do you plan to do with current HDB PR owners?
they will be invited & "encouraged" to convert to citizen after x number of yrs, otherwise they may not get re-entry permit the next time they leave spore ~
they will be invited & "encouraged" to convert to citizen after x number of yrs, otherwise they may not get re-entry permit the next time they leave spore ~
so based on regulation that if no longer PR, they would have to sell HDB flat within a certain time frame.
actually PRs from third world countries won't mind converting to Singapore citizens. I for one, if given the opportunity to convert Singapore, would not think twice.
Why? Because they can become "locals" again back home quite easily.
those PRs that buy HDB, are they mostly from developed countries or 3rd world countries? :)
In Singapore, for matter of transparency, rules are not retrospective, so it only apply from that date onwards but not back-date.
to those forbidding PRs to buy HDBs, what do you plan to do with current HDB PR owners?
louisebrown
24-05-11, 16:51
In Singapore, for matter of transparency, rules are not retrospective, so it only apply from that date onwards but not back-date.
Political officers will have their haircuts backdated to 21 May 2011.
I ask u if there are more upgraders or Downgraders? Your scenaior about emergency is very rare.. Most people want to improve their life so if ppty price go higher, the gap between housing class also widen, so for the majority, as their salary rise, they want their next house to be cheap so they can upgrade. Prob over the last 5 years is housing go up faster than avg people salary so only rich speculators benefited. So for ptty to decline abit is good now for majority. It's only bad for minority and ESP those that bought over last 1 year or so.
The ingredient to reduce ppty price as follows, SARS, more Lehman, more fraud, scandals, US market collapsing, Europe collapsing ,china bubble burst, tin pei ling appointed as PM. PAP overturn,high unemployment..so pick 1 of the above pls.
Property prices are unlikely to fall with no further CM. Even with another CM, any fall in prices (not expected anyway) will be temporary! Judging on the current market movement, there is evidence that there are plenty of Singaporeans waiting to buy private properties, whether for upgrading (majority), investment or 1st timers' home stay. Whatever cooling measures to dampen the market would merely imply that these pent up demands will just arrive at their destination via a longer route! People will still lay their hands on that illusive private property and then its no longer illusive! :D
What KBW meant is, housing is supposed to be one of the biggest achievements of PAP government , and yet ppl attacked PAP's housing policies left right center during the election. It's very sad to see HDB being used against PAP, because , by all accounts, allowing 80% of the population having a house calling their own is a real achievement by any standard.
So I guess he will go populist this time. Winning votes is more important for PAP now.
HDB resale flat buyers, you are going to repent for the next 5 yrs. KBW just needs to do one thing to make HDB "affordable": no PR for HDB. Resale COV is guaranteed to drop to 0! :cool:
My German colleagues do not own any house back home. Most rent but I don't know what is the reason?
What hdb has done is really commendable. Don't believe, just ask your hk friends.
My German colleagues do not own any house back home. Most rent but I don't know what is the reason?
What hdb has done is really commendable. Don't believe, just ask your hk friends.What HDB did, to house some 80% of citizens was truly commendable but now that they set the prices of HDB higher and higher and setting ridiculous boundaries and restrictions that never change over the last 17 years, they are simply reducing the 80% citizen ownership and that is not upkeeping their original principle when HDB first started. Anyway, good to know that things are potentially going to change. Watch this space. :o
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