View Full Version : HDB Revised Subletting Rules for Singapore Permanent Residents (SPRs)
er... simi impact huh?
http://www.hdb.gov.sg/Pressrelease (http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/2CC9A2CE4C38D1A748257A380002F382?OpenDocument)
Date issued : 11 Jul 2012
HDB flats are primarily meant for owner occupation. Those who wish to sublet their flats must meet the Minimum Occupation Period (MOP) and obtain HDB’s approval before they can do so. This rule applies to both Singapore Citizens (SCs) and Singapore Permanent Residents (SPRs).
Enforcement Actions Taken Against Unauthorised Subletting
2) In 2011, HDB carried out 7,000 flat inspections and took action against 56 flat owners for unauthorised subletting. Of these, HDB has initiated compulsory acquisition action against 18 flat owners for blatantly infringing subletting rules. (See Annex A (http://www.hdb.gov.sg/fi10/fi10297p.nsf/ImageView/CORPORATE_PR_11072012_Annex%20A/$file/Annex+A.pdf) http://www.hdb.gov.sg/fi10/fi10297p.nsf/ImageView/INFOWEBICON/$file/icon-pdf.gif;pv6dc2940f44e2ad64 (PDF 22KB) for details of 3 cases where HDB has initiated compulsory acquisition actions as the flat owners have blatantly abused the public housing system and flouted HDB rules.)
Revised Subletting Rules for Singapore Permanent Residents (SPRs)
3) HDB reviews policies and rules regularly to keep them relevant. As part of ongoing reviews, the rules for subletting by flat owners who are SPRs will be revised with effect from 11 Jul 2012.
Current Rule
4) Currently, both SC and SPR flat owners are allowed to sublet their flat after meeting the MOP. The approval is granted for a maximum of 3 years per application. Owners can apply to renew the period of subletting upon the expiry of each 3-year period, with no cap on the number of renewals and the total period of subletting.
Revised Rule
5) Under the revised rule, SPR flat owners will be allowed to sublet their flat after meeting the MOP, if they have not sublet the flat before. The approval will be granted for 1 year only, instead of 3 years. Upon expiry of the 1-year period, the application to extend the approval will be assessed on a case-by-case basis and approval will be granted only if there are extenuating reasons. The total period of subletting during the flat owners' entire duration of the flat ownership is capped at 5 years.
6) The revised rule is to reinforce the policy intent of providing HDB flats as homes to SPRs, and to deter those who are buying the flats for rental yield or investment. While HDB allows SPR owners who have met the MOP to sublet their flat, the subletting should be on a temporary basis. If the SPR families no longer need the flats for their own occupation, they should sell the flat instead of subletting them.
7) There will be no change to the subletting rules for flat owners who are Singapore citizens.
Advice to Homeowners and Tenants
8) HDB would like to remind all flat owners to comply with its terms and conditions for subletting, such as ensuring that the number of tenants does not exceed the maximum number allowed for the various flat types and that the flats are only occupied by the listed tenants. They must also monitor their tenants to prevent nuisance or misuse of the flat, such as further subletting the flat to non-authorised occupants for short-term stays.
9) HDB takes a serious view of any unauthorised subletting and will take stern actions against owners, including compulsory acquisition, even if it is the owner’s first infringement. This is especially for cases where the flat owners had bought the flat purely for monetary gains, with no intention of occupying it. HDB has also encountered cases where flat owners try to circumvent HDB’s rules by locking up one room and subletting the rest of the flat without physically staying in it. Such cases will be treated as unauthorised subletting of the entire flat. Subletting of flats or bedrooms for short-term stay to tourists is also not allowed.
10) Prospective tenants are also advised to familiarise themselves with the eligibility conditions for subletting, e.g. whether the flat owner has obtained HDB's approval to sublet the flat. More information can be found on HDB’s website www.hdb.gov.sg (http://www.hdb.gov.sg), under the section “Living in HDB flats”.
11) HDB flat owners who intend to rent out their flats/rooms and tenants who are renting a flat/room are advised to check CEA’s Public Register of Estate Agents and Salespersons at www.cea.gov.sg (http://www.cea.gov.sg)to verify their salespersons are registered with CEA before engaging their services. In addition, flat owners and tenants should not allow their salespersons to handle rental payments or rental deposits as they are prohibited from handling transaction monies for or on behalf of any party in the lease of HDB properties.
12) Consumers should only engage salespersons who are registered with CEA. They are also advised not to respond to any real estate agency flyer, leaflet or advertisement that does not provide a salesperson’s details or registration number. Consumers should report to CEA when they encounter any person not listed on the Public Register but carrying out estate agency work illegally or handling transaction monies in the lease of HDB properties.
phantom_opera
11-07-12, 10:45
This is to make SCs happy ... SPRs who want to leave the country and then thinking can rent out to make $$$ will be forced to sell off their HDBs soon ... as rental is for 1y and then must renew every year at the mercy of HDB
One stone kill two birds, make SC happy, ensure SPRs cannot profit from renting out HDB, force sell if SPRs leave country
Unless u do it illegally ... then force sell is for sure if they discover
not much impact i think... gentle and soft touch only.
Wild Falcon
11-07-12, 10:50
The rule just says PR needs to get approval every year while citizens get approval every 3 years - didn't say PR cannot sublet HDB flat. So PR can still sublet HDB flat but need to get yearly approval. So this is just adding on administration hassle - unless HDB is strict is granting approval for subletting which I doubt so. I dunno why some Singaporeans so happy - obviously form over substance. In the end, PR still get same benefits.
In the unlikely event that PRs are usually not approved to sublet their HDB flat, the impact is supply of HDB flat available for subletting decreases, and HDB rentals will be quite firm. PRs who want to buy HDB flat to rent out will have to think twice - might make more sense to invest in suburban condos with good rental yields instead.
phantom_opera
11-07-12, 10:57
The evil is in the detail of case-by-case basis
HDB can say ... oh no .. you have got Australian PRs 3 months ago and your whole family not in SG, so you must sell your HDB
Fair??
and what does this mean?
SPRs will now be allowed to sublet their flat after meeting the minimum occupation period (MOP) only if they have not sublet the flat before.
I think the demand for HDB resale flat will come down, while demand for 5 years old EC could potentially go up as SPR switch from buying HDB to EC.
This new rule could potentially give a rental boost to mass market condos as there will be a decline in supply.
phantom_opera
11-07-12, 11:19
IF I read this line carefully:
SPRs will now be allowed to sublet their flat after meeting the minimum occupation period (MOP) only if they have not sublet the flat before
=> it means if for whatever reason e.g. the whole family migrate out to Australia to work there, within the MOP, even it was approved previously by HDB, once the 3y approval is over (when the regulation was much looser), by the time MOP is up (and now the new regulation applies), SPRS will NOT be allowed to sublet anymore ... then, you either sell or move back to SG right?? :doh:
The demand for EC or HDB will be minimally felt as a direct result of SPR movement lah... It is the SC that needs to be monitored but from last GE, its become a more sensitive undertaking by the govt on any change to matters related to SC and the housing sector. :)
IF I read this line carefully:
SPRs will now be allowed to sublet their flat after meeting the minimum occupation period (MOP) only if they have not sublet the flat before
=> it means if for whatever reason e.g. the whole family migrate out to Australia to work there, within the MOP, even it was approved previously by HDB, once the 3y approval is over (when the regulation was much looser), by the time MOP is up (and now the new regulation applies), SPRS will NOT be allowed to sublet anymore ... then, you either sell or move back to SG right?? :doh:
this line also interesting:
The total period of subletting during the flat owners' entire duration of the flat ownership is capped at 5 years.
SPR flat max max can only rent out for 5 yrs
i know liao la, SPR convert to SC, then rent out and rent out again :D
phantom_opera
11-07-12, 12:15
moral of the story, it will become very hard for SPR family to monetize their HDB resale flat for rental yield while they eat ice-cream in NZ, Australia or US
buttercarp
11-07-12, 12:58
So if one owner is SC and the other is SPR, which rule do they fall under?
I can imagine the SPR who are presently renting out their HDB flat will be hurrying to sell the flat now.
So the price of resale HDB may fall soon and the OCR condo prices may increase as these SPR may turn their attention to these condos.
this line also interesting:
The total period of subletting during the flat owners' entire duration of the flat ownership is capped at 5 years.
SPR flat max max can only rent out for 5 yrs
i know liao la, SPR convert to SC, then rent out and rent out again :D
A sure way to 'get' more new SC, since the hot topic is usually surrounding FTs and PRs.
So if one owner is SC and the other is SPR, which rule do they fall under?
I can imagine the SPR who are presently renting out their HDB flat will be hurrying to sell the flat now.
So the price of resale HDB may fall soon and the OCR condo prices may increase as these SPR may turn their attention to these condos.
I know of many indian IT professional turn SPR for the last 6 years have been doing this, many buying n selling HDB for lumpy profits ... some getting good rental yields both in HDB and Pte pty . Gahment take so bloddy long to stop this .. much to angusih of local .. Why degrade Singapore Nang ... deserve to lose a few more GRCs :banghead: :banghead:
buttercarp
11-07-12, 13:33
I know of many indian IT professional turn SPR for the last 6 years have been doing this, many buying n selling HDB for lumpy profits ... some getting good rental yields both in HDB and Pte pty . Gahment take so bloddy long to stop this .. much to angusih of local .. Why degrade Singapore Nang ... deserve to lose a few more GRCs :banghead: :banghead:
Few months ago, i took my condo shuttle bus and overheard the conversation between 2 indian FTs.
One has been here for a few years and the other just settled here a few months ago. The former said he bought a unit in the condo 2 years ago and now it has gone up alot. He told the latter that he should buy instead of renting as in this country, the prices are likely to rise.
The latter then asked the former again about the price which he bought, and then kept musing about the paper gain over a short period.
Then again, few days ago, I chatted with another Indian FT in my block and she said she was glad she bought the unit (instead of renting it) in 2009. She had just finished a conversation with another Indian FT before entering the lift which I was in, and she mentioned that her friend should have bought a unit instead of renting it.
East Lover
11-07-12, 13:43
Few months ago, i took my condo shuttle bus and overheard the conversation between 2 indian FTs.
One has been here for a few years and the other just settled here a few months ago. The former said he bought a unit in the condo 2 years ago and now it has gone up alot. He told the latter that he should buy instead of renting as in this country, the prices are likely to rise.
The latter then asked the former again about the price which he bought, and then kept musing about the paper gain over a short period.
Then again, few days ago, I chatted with another Indian FT in my block and she said she was glad she bought the unit (instead of renting it) in 2009. She had just finished a conversation with another Indian FT before entering the lift which I was in, and she mentioned that her friend should have bought a unit instead of renting it.
similar to my condo - more and more indian deep-pokect FTs bought big units here, you can see more than half of ground floor units changed hands to them. my block is the primery block in my estate, a lot of good 4 bedders are sold to rich indian...
They are attracted by the international school UWC nearby. Indian are very good in calculation, instead of renting, they rather pay a bit more for buying.
similar to my condo - more and more indian deep-pokect FTs bought big units here, you can see more than half of ground floor units changed hands to them. my block is the primery block in my estate, a lot of good 4 bedders are sold to rich indian...
They are attracted by the international school UWC nearby. Indian are very good in calculation, instead of renting, they rather pay a bit more for buying.
Look at WaterSide Condo ... Melveille Park ...
Melveille Park especially I heard from my bro that in early 2001/2003 many Indians bought units there for cheap cheap 350-500 K from Singaporean (one of them my sister-in-law collegeae who husband lost his job turned taxi-driver and then kenna stroke ) that are forced to sell ... Now that 's a enclave there of indians there who does'nt mix with locals unlike Singaporean Indians ... So sad ... sad ... :banghead: :banghead: :banghead:
Why sad? Bcoz kena stroke or sell to Indian FT?
.... don't confuse the issue here.
Look at WaterSide Condo ... Melveille Park ...
Melveille Park especially I heard from my bro that in early 2001/2003 many Indians bought units there for cheap cheap 350-500 K from Singaporean (one of them my sister-in-law collegeae who husband lost his job turned taxi-driver and then kenna stroke ) that are forced to sell ... Now that 's a enclave there of indians there who does'nt mix with locals unlike Singaporean Indians ... So sad ... sad ... :banghead: :banghead: :banghead:
Why sad? Bcoz kena stroke or sell to Indian FT?
.... don't confuse the issue here.
Both lah ?? FT Opportunitists cashing on local misfortiune . Do you think this will happen in India ?? :banghead:
Do you know why expatriat incl FT luv Singapore so much ?? about that only place in this part of the world where they can enjoy and make so $$$ at expense of local who are 3 serve 2 years NS and deprive of job opportunities
:banghead:
bigapplefan
11-07-12, 14:02
Imho, this ruling is of no use if no checks are done regularly to see if there are errant owners who sublet illegally.
HDB should also not grant approval to sublet easily, or else this policy will be ineffective.
similar to my condo - more and more indian deep-pokect FTs bought big units here, you can see more than half of ground floor units changed hands to them. my block is the primery block in my estate, a lot of good 4 bedders are sold to rich indian...
They are attracted by the international school UWC nearby. Indian are very good in calculation, instead of renting, they rather pay a bit more for buying.
HUAT AH!!!!!!!!!!!!
Imho, this ruling is of no use if no checks are done regularly to see if there are errant owners who sublet illegally.
HDB should also not grant approval to sublet easily, or else this policy will be ineffective.
I once stayed in rented 3 Rm HDB in Toa Payoh for nearly 3 years while awaiting my PC to TOP. My neighbour a PRC don't know PR or new citizen rented his 3 rm like a short term budget hotel stay .. also I heard another unit rented by a PRC who himself become a landlord subletting to another few PRC students ..., IT's crazy these SPR n Foreigners are screwing us .. n gahment turn blind eye on us.:simmering:
Both lah ?? FT Opportunitists cashing on local misfortiune . Do you think this will happen in India ?? :banghead:
Do you know why expatriat incl FT luv Singapore so much ?? about that only place in this part of the world where they can enjoy and make so $$$ at expense of local who are 3 serve 2 years NS and deprive of job opportunities
:banghead:
Don't mix this up. would it be worst off if cannot sell the property coz its in a dump and have to pay debt and bank come put it on the block for cheap cheap?
Have to strike a balance.
Both lah ?? FT Opportunitists cashing on local misfortiune . Do you think this will happen in India ?? :banghead:
Do you know why expatriat incl FT luv Singapore so much ?? about that only place in this part of the world where they can enjoy and make so $$$ at expense of local who are 3 serve 2 years NS and deprive of job opportunities
:banghead:
A lot of locals also make $ from this growth not just foreign. Now the government have to make adjustment to help those left behind.
I once stayed in rented 3 Rm HDB in Toa Payoh for nearly 3 years while awaiting my PC to TOP. My neighbour a PRC don't know PR or new citizen rented his 3 rm like a short term budget hotel stay .. also I heard another unit rented by a PRC who himself become a landlord subletting to another few PRC students ..., IT's crazy these SPR n Foreigners are screwing us .. n gahment turn blind eye on us.:simmering:
That is against the law. There are law against tenancy w/o approval. U should call HDB and complain that fella.
Actually to be natural. Also got Singaporean do that. just got kana caught a not is the question.
So if one owner is SC and the other is SPR, which rule do they fall under?
I am keen to know too.....
While I feel sorry for anybody that is forced to sell their roof over their heads due to misfortune, please consider that anybody could have capitalised from it.... be it Singaporean or foreigner.
But because your sister-in-law's colleague happen to sell it to an Indian FT, somehow there is resentment, its part xenophobic and part racist. It's a born loser mentality....
By the way, of course its happening in India too... as is elsewhere not less Singapore. Money rules... get over it.
Both lah ?? FT Opportunitists cashing on local misfortiune . Do you think this will happen in India ?? :banghead:
Do you know why expatriat incl FT luv Singapore so much ?? about that only place in this part of the world where they can enjoy and make so $$$ at expense of local who are 3 serve 2 years NS and deprive of job opportunities
:banghead:
While I feel sorry for anybody that is forced to sell their roof over their heads due to misfortune, please consider that anybody could have capitalised from it.... be it Singaporean or foreigner.
But because your sister-in-law's colleague happen to sell it to an Indian FT, somehow there is resentment, its part xenophobic and part racist. It's a born loser mentality....
By the way, of course its happening in India too... as is elsewhere not less Singapore. Money rules... get over it.
Totally agree with this.. Rather sell to the Indian PR than let the bank cannablized it. which is worst off? Its got nothing to do with PR or SC. its just a case of mis fortune which is really unfortunate.
I am keen to know too.....
Me 3....... my sis in that situation.
this line also interesting:
The total period of subletting during the flat owners' entire duration of the flat ownership is capped at 5 years.
SPR flat max max can only rent out for 5 yrs
i know liao la, SPR convert to SC, then rent out and rent out again :D
Only few options left:
1) Move back in to the HDB
2) Sell away the HDB
3) Convert to SC
4) Give up PR
Only few options left:
1) Move back in to the HDB
2) Sell away the HDB
3) Convert to SC
4) Give up PR
or just leave the HDB there to rot. wait for change happen.
A sure way to 'get' more new SC, since the hot topic is usually surrounding FTs and PRs.
3 prong approach - one stone kill 3 birds
1) Get more SC conversion, only the serious convert gets to earn $ from local market (hint: PM Lee recent New Citizens 'show' in AMK)
2) Reduce PR speculation in public housing, enforces message that HDB is for housing the mass and not profit making
3) Pro-citizen measure - SGrean first always, screw the PR and FT
Imho, this ruling is of no use if no checks are done regularly to see if there are errant owners who sublet illegally.
HDB should also not grant approval to sublet easily, or else this policy will be ineffective.
Govt just these few days 'showed hand' nab some HDB subletting cases to demonstrate.
A great Musical requires coordination from all parties.
There is also 'side show' on the parliament question by MP on 'foreign enclaves' in HDB. Like rojak, all the ingredients mix to make a powerful dish.
buttercarp
11-07-12, 15:11
Only few options left:
1) Move back in to the HDB
2) Sell away the HDB
3) Convert to SC
4) Give up PR
1) Move back in to the HDB
Very unlikely if they have upgraded.
2) Sell away the HDB
Likely if they are planning to stay here for a few more years.
3) Convert to SC
Maybe one spouse convert to SC.
4) Give up PR
Unlikely if they plan to stay here for long.
bigapplefan
11-07-12, 15:19
I once stayed in rented 3 Rm HDB in Toa Payoh for nearly 3 years while awaiting my PC to TOP. My neighbour a PRC don't know PR or new citizen rented his 3 rm like a short term budget hotel stay .. also I heard another unit rented by a PRC who himself become a landlord subletting to another few PRC students ..., IT's crazy these SPR n Foreigners are screwing us .. n gahment turn blind eye on us.:simmering:
next time you see this happening, just drop an email or call HDB and let them do the checks.. your identify will be kept confidential.
Taken from hdb website:
For report on suspected unauthorised subletting / use of flat:
HDB’s dedicated hotline @ 1800-555-6370
(All feedback will be kept strictly confidential)
Obviously!! HDB are public housing for Singapore Citizen and not to be exploited by FTs!
They shouldnt be allow to purchase HDB at the first place. Then whats the line between SC and SPRs?
Obviously!! HDB are public housing for Singapore Citizen and not to be exploited by FTs!
They shouldnt be allow to purchase HDB at the first place. Then whats the line between SC and SPRs?
So they are building more so more SC can buy. Wont that solve the problem?
phantom_opera
11-07-12, 15:34
Imho, this ruling is of no use if no checks are done regularly to see if there are errant owners who sublet illegally.
HDB should also not grant approval to sublet easily, or else this policy will be ineffective.
They should have TV commercials and talk about rewarding whistle blowers ...
something like:
Do you know it is illegal to sublet without prior approvals from HDB, you can be jailed up to 10y or fined up to 100k or both
Whistle blowers will be rewarded 1k once case confirmed
:p
And more SPRs buying as well.. Does it solve the problem ?
Sad to say no. They have only started to see the importance of drawing a line between..a good example is the P1 priority registration. Someone just got to get down from the ivory tower and feel the ground.
phantom_opera
11-07-12, 15:43
it is ok ... between now and next election, 10 more differentiators against SPRs will be published ... to win votes ;)
moral of the story, it will become very hard for SPR family to monetize their HDB resale flat for rental yield while they eat ice-cream in NZ, Australia or US
moral of the story many many many SPR already made BIG BIG money...now LAUGHING at the GOVT...:cool:
they come here many years ago to work but smart one buy property make big big $$$$$....much more than if they work for rest of their life now its too late they already HUAT BIG BIG..:rolleyes:
phantom_opera
11-07-12, 16:00
moral of the story many many many SPR already made BIG BIG money...now LAUGHING at the GOVT...:cool:
they come here many years ago to work but smart one buy property make big big $$$$$....much more than if they work for rest of their life now its too late they already HUAT BIG BIG..:rolleyes:
Better late than never lo ... HK has iBond for 2y liao now only MAS thinking about inflation linked bond :doh:
Few months ago, i took my condo shuttle bus and overheard the conversation between 2 indian FTs.
One has been here for a few years and the other just settled here a few months ago. The former said he bought a unit in the condo 2 years ago and now it has gone up alot. He told the latter that he should buy instead of renting as in this country, the prices are likely to rise.
The latter then asked the former again about the price which he bought, and then kept musing about the paper gain over a short period.
Then again, few days ago, I chatted with another Indian FT in my block and she said she was glad she bought the unit (instead of renting it) in 2009. She had just finished a conversation with another Indian FT before entering the lift which I was in, and she mentioned that her friend should have bought a unit instead of renting it.
urgghhhh memories when i used to take my ex-condo bus with all those ft from india in the bus...urggghhh...thats why i sold my condo...;)....now living..hmm..i mean RENTING:D...in peace and harmony...:cheers6:
Better late than never lo ... HK has iBond for 2y liao now only MAS thinking about inflation linked bond :doh:
ipad iphone....iBOND...:D:D:D:doh:
similar to my condo - more and more indian deep-pokect FTs bought big units here, you can see more than half of ground floor units changed hands to them. my block is the primery block in my estate, a lot of good 4 bedders are sold to rich indian...
They are attracted by the international school UWC nearby. Indian are very good in calculation, instead of renting, they rather pay a bit more for buying.
tropica...:rolleyes:
phantom_opera
11-07-12, 16:09
As of April this year, HDB said 2,142 PR owners currently sublet their flats.
They form about five per cent of the total approved sublet cases.
Key Executive Officer of ERA, Eugene Lim, said: "If you are a PR, why are you renting out your flat? You are here to stay, to work. If you have ability to buy another house, then you actually don't need a public flat and you should not be owning one."
=> the 2,142 SPR owners must now be SWEATING ... especially if they already sublet for 5y, that means no more rental is possible :eek: :scared-1:
=> rental will go up, HDB resale prices will stabilize .. looks like my prediction for resale index at 250 will take longer to reach
ipad iphone....iBOND...:D:D:D:doh:
Be careful... or become iBODOH
As of April this year, HDB said 2,142 PR owners currently sublet their flats.
They form about five per cent of the total approved sublet cases.
Key Executive Officer of ERA, Eugene Lim, said: "If you are a PR, why are you renting out your flat? You are here to stay, to work. If you have ability to buy another house, then you actually don't need a public flat and you should not be owning one."
=> the 2,142 SPR owners must now be SWEATING ... especially if they already sublet for 5y, that means no more rental is possible :eek: :scared-1:
=> rental will go up, HDB resale prices will stabilize .. looks like my prediction for resale index at 250 will take longer to reach
Back to good ol days of "LOCK ONE ROOM" ads...
phantom_opera
11-07-12, 16:12
Back to good ol days of "LOCK ONE ROOM" ads...
HDB explicitly say "lock one room" not possible ho :doh: :
HDB has also encountered cases where flat owners try to circumvent HDB’s rules by locking up one room and subletting the rest of the flat without physically staying in it. Such cases will be treated as unauthorised subletting of the entire flat. Subletting of flats or bedrooms for short-term stay to tourists is also not allowed.
HDB explicitly say "lock one room" not possible ho :doh: :
HDB has also encountered cases where flat owners try to circumvent HDB’s rules by locking up one room and subletting the rest of the flat without physically staying in it. Such cases will be treated as unauthorised subletting of the entire flat. Subletting of flats or bedrooms for short-term stay to tourists is also not allowed.
Let's just say LOCK ONE ROOM is more inconspicuous, labor intensive and time consuming to check/argue against RENT WHOLE FLAT. ;-)
Law is dead. Human is flexible... (and error prone)
As of April this year, HDB said 2,142 PR owners currently sublet their flats.
They form about five per cent of the total approved sublet cases.
Key Executive Officer of ERA, Eugene Lim, said: "If you are a PR, why are you renting out your flat? You are here to stay, to work. If you have ability to buy another house, then you actually don't need a public flat and you should not be owning one."
=> the 2,142 SPR owners must now be SWEATING ... especially if they already sublet for 5y, that means no more rental is possible :eek: :scared-1:
=> rental will go up, HDB resale prices will stabilize .. looks like my prediction for resale index at 250 will take longer to reach
considering we have 1 million flats and still growing by the day...small number:rolleyes:
phantom_opera
11-07-12, 16:15
HDB becomes "ONE RING", "MY PRECIOUS", "CASH COW"
1. Once you sell, it is almost impossible to get back
2. Only Singaporeans has the right now to own both PC / HDB and rent out HDB
3. Poor SC will be heavily subsidized up to 90k/100k for BTO
7% yield possible now??
HDB becomes "ONE RING", "MY PRECIOUS", "CASH COW"
1. Once you sell, it is almost impossible to get back
2. Only Singaporeans has the right now to own both PC / HDB and rent out HDB
3. Poor SC will be heavily subsidized up to 90k/100k for BTO
7% yield possible now??
I LUP SINGAPORE! HUAT AH!!!!!!
phantom_opera
11-07-12, 16:46
And garmen now only want rich rich tai tai to come in:
from MOM website
Changes to Dependant Privileges for Work Pass Holders
The Government is tightening the criteria for work pass holders to sponsor dependants as part of the overall direction to moderate the growth of Singapore’s non-resident population. This will help ease the pressure on our social infrastructure. Nonetheless, Singapore remains a global talent capital. We continue to welcome highly skilled foreign professionals who wish to bring their dependants to stay with them.
The changes, from 1 September 2012 are as follows:
S Pass and Employment Pass (EP) holders need to earn a fixed monthly salary of at least $4,000 to sponsor the stay of their spouses and children here.
P1 Pass holders will no longer be able to bring in their parents-in-law. They may still bring in their parents, spouses and children.
P2 Pass holders will no longer be able to bring in their parents or parents-in-law. They may still bring in their spouses and children.
he qualifying salary for the P2 Pass will be raised from $4,000 to $4,500. There will be no change in the qualifying salary for P1 Pass which remains at $8,000
HDB becomes "ONE RING", "MY PRECIOUS", "CASH COW"
1. Once you sell, it is almost impossible to get back
2. Only Singaporeans has the right now to own both PC / HDB and rent out HDB
3. Poor SC will be heavily subsidized up to 90k/100k for BTO
7% yield possible now??
:cheers1::cheers1::cheers1::cheers1::cheers1::cheers1::cheers1:
In the first place SPR should never be allowed to buy HDB, this is a SC exclusive privilege. The policy is flawed from the onset.
If they are allowed to buy then the MOP should also be diff from SC. MOP has always been the same bet SPR n SC.
Or they can only sell when moving back to their home country.
MIW is paid top dollar I want top privilege too for SC, else what is so special about SC compared to SPR?
bigapplefan
11-07-12, 17:59
They should have TV commercials and talk about rewarding whistle blowers ...
something like:
Do you know it is illegal to sublet without prior approvals from HDB, you can be jailed up to 10y or fined up to 100k or both
Whistle blowers will be rewarded 1k once case confirmed
:p
pls send this suggestion to HDB...:D
I think $500 enough liao, no need $1k..
In the first place SPR should never be allowed to buy HDB, this is a SC exclusive privilege. The policy is flawed from the onset.
If they are allowed to buy then the MOP should also be diff from SC. MOP has always been the same bet SPR n SC.
Or they can only sell when moving back to their home country.
MIW is paid top dollar I want top privilege too for SC, else what is so special about SC compared to SPR?
Yah loh, single SC are the most disadvantaged group. :mad: :tsk-tsk:
In the first place SPR should never be allowed to buy HDB, this is a SC exclusive privilege. The policy is flawed from the onset.
If they are allowed to buy then the MOP should also be diff from SC. MOP has always been the same bet SPR n SC.
Or they can only sell when moving back to their home country.
MIW is paid top dollar I want top privilege too for SC, else what is so special about SC compared to SPR?
So when u want to sell ur hdb no one buy must sell at lost then who's fault is that?
So when u want to sell ur hdb no one buy must sell at lost then who's fault is that?
HDB is SC cash cow nobody will sell, majority will rent to SPR.:)
nobrainer32007
11-07-12, 20:39
TIME TO BUY HDB SHOPHOUSE WITH LIVING QUARTER. Passport to own hdb flat by citizens with private residential propertied, pr and foreigners.
HUAT AH!
HDB is SC cash cow nobody will sell, majority will rent to SPR.:)
Huat Ah... Huat Ah !!!
hanafi_d2000
11-07-12, 22:17
I am keen to know too.....
Sama sama, so what is the answer if family unit is one SC and SPR?
Sama sama, so what is the answer if family unit is one SC and SPR?
Probably same as ABSD rule, to be fair.
Sama sama, so what is the answer if family unit is one SC and SPR?
Was 'advised' by my mother (heard from lalio) that it does not apply if one of the spouse is SC.
Still wondering any significant impact to the property market. Those SC renting their 2nd Home,HDB seems to benefit most due to less competition..agent less buisness due to reduction in renting market, etc others, think..must wait for the Mr expert Nicholas Mak analysis liao:D
Allthepies
11-07-12, 23:52
Government only take efforts to make some SC happy; what about the other group of SC with PC wanting to buy HDB to invest? When is government gg to make them happy? :D :D
Har?... got PC already Gahmen still must make them happy ah? haha... no need lah...
Government only take efforts to make some SC happy; what about the other group of SC with PC wanting to buy HDB to invest? When is government gg to make them happy? :D :D
no impact PRs lar....still can rent out,just additional admin procedure, wonder what our garmen is thinking:doh: haiz!!!
no impact PRs lar....still can rent out,just additional admin procedure, wonder what our garmen is thinking:doh: haiz!!!
Heard rental is capped at 5 years for PR
Was 'advised' by my mother (heard from lalio) that it does not apply if one of the spouse is SC.
Pretty much in line and consistent with the ABSD remission rules for SC/PR couples.
Allthepies
12-07-12, 07:53
Har?... got PC already Gahmen still must make them happy ah? haha... no need lah...
if PR with private properties in their homeland can buy hdb(how to chk), SC with PC shld be given the same treatment or better, should not have double standard!
Sama sama, so what is the answer if family unit is one SC and SPR?
no need to guess, just call to check.
1800-225-5432
PRs will now either have to sell their HDB flats if they decide to stay in PCs. They could also keep and stay in their HDB flats and sell their PCs. Last option is for them to stay in HDB flats and rent out their PCs.
The impact is more PRs selling their HDB flats and PCs going forward.
buttercarp
12-07-12, 09:11
no need to guess, just call to check.
1800-225-5432
Must key in NRIC in order to speak with the customer service officer.
HDB becomes "ONE RING", "MY PRECIOUS", "CASH COW"
1. Once you sell, it is almost impossible to get back
2. Only Singaporeans has the right now to own both PC / HDB and rent out HDB
3. Poor SC will be heavily subsidized up to 90k/100k for BTO
7% yield possible now??
100k subsidy?? :scared-5:
just called HDB hot line, their response is extremely fast. Much better than the banks, M1, or SingTel hotlines.
For 1 SC + 1 PR, the renting out HDB follows SC rules:
a) 3 years for each approval,
b) and not capped at total 5 years.
I know many will say this is "unfair".
Maybe a "fair" rule for 1 SC + 1 PR would be:
a) 2 years for each approval.
b) 10 years cap.
Just to recap for 2 PRs, the rule is:
a) 1 year for each approval;
b) capped at total 5 years
Thanks,
Richard
just called HDB hot line, their response is extremely fast. Much better than the banks, M1, or SingTel hotlines.
For 1 SC + 1 PR, the renting out HDB follows SC rules:
a) 3 years for each approval,
b) and not capped at total 5 years.
Thanks
Richard
thank you!
no swing votes in the next election. :D
just called HDB hot line, their response is extremely fast. Much better than the banks, M1, or SingTel hotlines.
For 1 SC + 1 PR, the renting out HDB follows SC rules:
a) 3 years for each approval,
b) and not capped at total 5 years.
I know many will say this is "unfair".
Maybe a "fair" rule for 1 SC + 1 PR would be:
a) 2 years for each approval.
b) 10 years cap.
Just to recap for 2 PRs, the rule is:
a) 1 year for each approval;
b) capped at total 5 years
Thanks,
Richard
If the case is 5rm HDB leased out while the 1SC+1PR couple + 2kids stay in expensive condo, I wonder then how will the "renewal" be justified?
They can argue condo is much nearer to where the sole breadwinning PR father works, at most. not sure if thats acceptable.
bigapplefan
12-07-12, 13:31
if PR with private properties in their homeland can buy hdb(how to chk), SC with PC shld be given the same treatment or better, should not have double standard!
ya lor.. they shouldn't allow PR to buy HDB at all. Even if let them buy, should not let PR rent out at all.
bigapplefan
12-07-12, 13:35
Har?... got PC already Gahmen still must make them happy ah? haha... no need lah...
Yes, there is also double standard here. Those who bought HDB can own both HDB & PC, but those with PC cannot own HDB.
Good Move!Not everyone can affort HDB now!
HDB is SC cash cow nobody will sell, majority will rent to SPR.:)
So now we need more SPR ? hah hah...
Huat Ah... Huat Ah !!!
i also say...:D
They can no longer return home and sit on a hdb here for monthly retirement income in the form of rental. And I don't think they can pick an issue with this. There are plenty of old condos that they can invest in if they so choose to as well.
If PR sell the HDB after renting it out for 5 years, can they buy another one and rent it out again after MOP?
I'm curious what the approval criteria is.
If they chut so much pattern. Then tighten it as 5 years under their name rather than indee their property. The easiest solution ia to become a citizen and they'll be welcomed with open arms. Juat don't treat this place as a port to hedge your bets.
CondoInterested
13-07-12, 01:17
Although renew yearly, subject to approval by HDB, but they only can rent up to 5 years.
Wonder what happens if PR sells the HDB and buy new one, does the 5 years circle starts again?
They should capped the 5 years based on name of owner & not by address.
Of course there is still possibility of using false identity to buy and rent and it goes on & on.
Wonder those up there got think so far how to tighten this screw properly.
杀一儆百 (http://www.chinesedic.com/zh/%E6%9D%80%E4%B8%80%E5%84%86%E7%99%BE)kill one to warn a hundred (idiom) (http://www.chinesedic.com/en/lit.+kill+one+to+warn+a+hundred+%28idiom%29); to punish an individual as an example to others;
If they chut so much pattern. Then tighten it as 5 years under their name rather than indee their property. The easiest solution ia to become a citizen and they'll be welcomed with open arms. Juat don't treat this place as a port to hedge your bets.
haiya they become citizen also same...work until retire earn plenty $$$$ then give up citizen go back their home land...honestly i rather be a foeigner working in singapore cos i got so many more choices than be a sporean....:(
Although renew yearly, subject to approval by HDB, but they only can rent up to 5 years.
Wonder what happens if PR sells the HDB and buy new one, does the 5 years circle starts again?
They should capped the 5 years based on name of owner & not by address.
Of course there is still possibility of using false identity to buy and rent and it goes on & on.
Wonder those up there got think so far how to tighten this screw properly.
bottomline charge them absd when they buy hdb...:cheers1:
haiya they become citizen also same...work until retire earn plenty $$$$ then give up citizen go back their home land...honestly i rather be a foeigner working in singapore cos i got so many more choices than be a sporean....:(
If they can switch citizenship so easily, there are better chances that they are truly a valuable talent. It's not a perfect filter but at least it gets them to decide which side of the boat they are on.
If they chut so much pattern. Then tighten it as 5 years under their name rather than indee their property. The easiest solution ia to become a citizen and they'll be welcomed with open arms. Juat don't treat this place as a port to hedge your bets.I know of PRs who have applied for citizenship but kana rejected. Sometimes its not that they don't want to be citizen but govt disapprove based on some criterion they hold so steadfastly to. :rolleyes:
Doubtless to say there are always PRs who wants to be citizen coz they want to gain some benefits but there are also those who sincerely want to be citizen because they have decided to stay in our country for good. Those criterions used by MOM does not put that as their primary assessment objective. Sigh!
haiya they become citizen also same...work until retire earn plenty $$$$ then give up citizen go back their home land...honestly i rather be a foeigner working in singapore cos i got so many more choices than be a sporean....:(
you comparing yourself with rich or poor foreigners with regard to the "so many more choices" ?
the rich definitely have more choices than the poor, be it singaporean or foreigner.
if you find yourself with little choices, it is because you are poor.
if you are rich singaporean, you can always apply for economic citizenship in the caribean, the good thing is the govt over there dont inform the singapore govt, so you can have 2 passports, 2 citizenships or even more since there are quite a number of countries in the caribean.
visa free travel to europe, usa etc.
you comparing yourself with rich or poor foreigners with regard to the "so many more choices" ?
the rich definitely have more choices than the poor, be it singaporean or foreigner.
if you find yourself with little choices, it is because you are poor.
if you are rich singaporean, you can always apply for economic citizenship in the caribean, the good thing is the govt over there dont inform the singapore govt, so you can have 2 passports, 2 citizenships or even more since there are quite a number of countries in the caribean.
visa free travel to europe, usa etc.
i not talking about myself i am happy and proud being a sc...cos MY COUNTRY is safe,good govt,plenty of oppurtuinities...just look across the causeway at whats happening...BUT i believe many many SC who are BORN here are NOT happy with the situation....:rolleyes:
haiya they become citizen also same...work until retire earn plenty $$$$ then give up citizen go back their home land...honestly i rather be a foeigner working in singapore cos i got so many more choices than be a sporean....:(
No need serve NS somemore... nor reservist.
I know of PRs who have applied for citizenship but kana rejected. Sometimes its not that they don't want to be citizen but govt disapprove based on some criterion they hold so steadfastly to. :rolleyes:
Doubtless to say there are always PRs who wants to be citizen coz they want to gain some benefits but there are also those who sincerely want to be citizen because they have decided to stay in our country for good. Those criterions used by MOM does not put that as their primary assessment objective. Sigh!
Those poor rejects can only blame their own 'kind' for spoiling the market by abusing the system.
i not talking about myself i am happy and proud being a sc...cos MY COUNTRY is safe,good govt,plenty of oppurtuinities...just look across the causeway at whats happening...BUT i believe many many SC who are BORN here are NOT happy with the situation....:rolleyes:
I not happy because I ain't got no shit GST voucher. That's all. Everything else ooh la la fine man fine... Oh ya also private owner can't own no HDB shit. Ma dissin...
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