View Full Version : Kenobi-wan is now fighting the dark side of ECs
phantom_opera
26-04-13, 17:07
http://www.straitstimes.com/breaking-news/singapore/story/mnd-minister-khaw-something-wrong-ec-scheme-20130426
lol ... some jealous of EC sellers making big bucks :p
Pikachu1245
26-04-13, 18:24
http://www.straitstimes.com/breaking-news/singapore/story/mnd-minister-khaw-something-wrong-ec-scheme-20130426
lol ... some jealous of EC sellers making big bucks :p
Then will they suggest for EC buyer:
1. Holding period to extend before being able to sell to foreigner
e.g. from 10 to 15 years or
2. Cap the profit of EC sales or
3. Take away subsidiary for EC or
4. Must have 2 SC kids then can buy EC or
5. After sell EC pay levy if later want to buy resale Hdb or Dbss or another EC
Or what........? Think some people Sain Liao lor....
Now want to buy EC and earn some $$$ for old age also seems will be difficult liao wor.....
For those eligible, think better quickly buy before more control of some sort such as criteria above.........
Is this potential CM8 :beats-me-man:
Think they'll remove the upfront subsidies for EC.
Pikachu1245
26-04-13, 18:41
Think they'll remove the upfront subsidies for EC.
In that case, think minimum impact lor if buyers can earn few hundred thousand dollars five years later.......
EC is wrong at the first place. gov job is to provide basic housing. those cant afford pte housing, so be it. why sell the land cheap cheap to build ec to fulfil the dreams of those who cant make it for the pte properties.
thank u khaw!
Allthepies
26-04-13, 20:06
EC is wrong at the first place. gov job is to provide basic housing. those cant afford pte housing, so be it. why sell the land cheap cheap to build ec to fulfil the dreams of those who cant make it for the pte properties.
thank u khaw!
Jealousy jealousy jealousy. When people are jealous they will vote without their brains, that is why need to build EC,
Jealousy jealousy jealousy. When people are jealous they will vote without their brains, that is why need to build EC,True... Human greed never ending one...
Hi...one of my letter to minister addressing the EC issues. I must admit I am one of them, but I am not jealous.
Hi...one of my letter to minister addressing the EC issues. I must admit I am one of them, but I am not jealous.Thank you for sending the letter.:spliff2:
in the word of an ah-BENg:scared-1: "chia lat liao":doh:
EC showroom will be packed. Over subcribe 5 times lol.
Pikachu1245
27-04-13, 01:24
EC showroom will be packed. Over subcribe 5 times lol.
Before any sudden policy on EC come about......:scared-3:
EC showroom will be packed. Over subcribe 5 times lol.
EC=Everybody CHEONGGGGGGGG:D:D:D
http://sbr.com.sg/residential-property/news/13-most-unprofitable-executive-condos
The timing of buying EC is important. EC is not a sure gain. It has upside because of the 20-30% price different with PC nearby. If market goes down, it will eat away the potential gain too.
some may be jealous, some not ...
It boils down to these people thinking there's no sense of equity
when EC owners gain so much more with the same subsidy.
Why not them? but since they can't get the same cake ...
And I don't see how it impacts the common people even if this is "addressed"
Shouldn't have this segment to begin with. As with HUDC in the past, it takes many years to be privatised and realised the potential but this EC... all u need is 10 years max. Not too long a view actually
once again slow response :cool:
the initial "noble" cause of EC is to provide an alternative to the "people" to live in condominium but cannot afford private project that is million dollars
but for the past few years, take a look at EC ... EC is selling at millions dollar unit
when i talk to private property sales person for their 3-rooms unit, all selling at $1.2-$1.3M ... their excuse is EC is already selling at $1M and private at least 30% premium ...
Pikachu1245
27-04-13, 12:22
some may be jealous, some not ...
It boils down to these people thinking there's no sense of equity
when EC owners gain so much more with the same subsidy.
Why not them? but since they can't get the same cake ...
And I don't see how it impacts the common people even if this is "addressed"
For those who continue to 'gian(keen)' on the subsidy quickly go sign the dotted line for EC purchase before new measures on EC lor....
Otherwise think of yourself being 'noble' if the subsidy is to be
withdrawn / reduced as the garmen can then take the money to improve the social safety net like rebate for lower income group or build infrastructure like new highway/new mrt for everyone use.
$30000 grant may take garmen 15 years to tax a layman who pay $2000 plus tax per year. Think those who pay tax diligently will know what I mean.....
http://sbr.com.sg/residential-property/news/13-most-unprofitable-executive-condos
The timing of buying EC is important. EC is not a sure gain. It has upside because of the 20-30% price different with PC nearby. If market goes down, it will eat away the potential gain too.
That's right. Actually HDB flat can also earn more than EC or private if you buy it in an early stage. Like one of my friends who is staying in a 3 room HDB flat near Tiong Bahru area, now her 40 yrs old house can fetch $400K which she bought from resale market for <$100k 6 yrs back. Her profit margin is xx times more than mine if I will to sell my >10 yrs old EC now. In fact, gahment should control the resale HDB prices and see what those complain kings and complain queens living in HDB what to say.
Afterall, I thought gahment first intention is, they provide housing is for staying and not for making money, that's why earlier there was a levy imposed on 2nd timer who want to buy EC but don't know why, now the levy has been scraped.
Don't be surprised if the next CM can backdate..
Don't be surprised if the next CM can backdate..
Highly unlikely..:tsk-tsk: !
first he say HDB is making a loss for every BTO unit sold... then he say EC scheme "not right".. ???
leaving out those who bought BTO/EC with father's and mother's money.. up till this point.. he has not given us the break down the cost of HDB.. and that should exclude the land cost.. as its left pocket to right pocket.. and then he starts shooting this type of baseless statement. Where is the account statement that he has for HDB that he can publish and let everyone take a look at how much is the actual cost and profit made?
people who buy EC are paying much higher than a BTO.. and the loan quantum is higher than well (assuming 80% loan from buyers). paying higher interest in temrs of quantum, assuming same tenor.. if there are more risks, there should be more return?? If interest rates increase... who would suffer more.. the guys taking HDB concessionary loan or HDB bank loan at a lower quantum or those taking bank loans at a higher quantum for EC/private? he says this after people make money from ECs.. how about those that makes so much from HDB BTO?
again, his statements makes no sense and does not link at all. typical of sweeping statements.
and btw, he is godlike now as he has the power to "delink" the prices of BTO to resale flats..
again, no rights and no wrongs.. but dear minister is not substantiating his statements with actual facts
Cannot-be-one is using quantum theory in a different way to justify EC sellers make more in quantum compared to HDB sellers.
phantom_opera
28-04-13, 10:37
but dual key and penthouse units are subsidized more in terms of land value right ??
if unit size same as BTOs then fair
Good house
28-04-13, 11:20
There will be no end to all this kind of equality arguement.....else commie will have dominates the world today
Equality, freedom and democracy are often being miss used by interest group as front to achieve political agenda.
The important thing and right thing to do is to provide different type of housing for different people.Ensure all kids have good equal footing and opportunity to escape from proverty
Are we all deprive of good housing in Singapore? Do we have people live in slum and container? Or did we created a generation of green eyes monster.
But than must remember old asian wisdom of ' master can teach you, but how you learn, apply and excel is up to you'
Just my humble opinion.
HDB rental measures will be revised soon looking at the outcome of the last conversation session. The extent of the sublet of enitre or one room may be tied to household income.
That's right. Actually HDB flat can also earn more than EC or private if you buy it in an early stage. Like one of my friends who is staying in a 3 room HDB flat near Tiong Bahru area, now her 40 yrs old house can fetch $400K which she bought from resale market for <$100k 6 yrs back. Her profit margin is xx times more than mine if I will to sell my >10 yrs old EC now. In fact, gahment should control the resale HDB prices and see what those complain kings and complain queens living in HDB what to say.
Afterall, I thought gahment first intention is, they provide housing is for staying and not for making money, that's why earlier there was a levy imposed on 2nd timer who want to buy EC but don't know why, now the levy has been scraped.
Quite substantial of the People in Singapore are at higher level of the 's hierarchy.
There will be no end to all this kind of equality arguement.....else commie will have dominates the world today
Equality, freedom and democracy are often being miss used by interest group as front to achieve political agenda.
The important thing and right thing to do is to provide different type of housing for different people.Ensure all kids have good equal footing and opportunity to escape from proverty
Are we all deprive of good housing in Singapore? Do we have people live in slum and container? Or did we created a generation of green eyes monster.
But than must remember old asian wisdom of ' master can teach you, but how you learn, apply and excel is up to you'
Just my humble opinion.
Don't be surprised if the next CM can backdate..
If it can be backdated, can I get back the 25% levy which I paid earlier.:D
To make people happy, they extend the celing for EC to $12,000, so more and more people are eligible to apply and then now, seems like situation not right, so say EC xxxxxxxxxxx. :doh:
i and a couple of fellow forummers have long iterated that HDB should NOT be in the EC business.
so now we can confirm two things -
a.) we can be subsitutes for ignorant policy makers/scholars
b.) all these policy makers/scholars and the ex MND minister should be hung
Speaking to 40 participants at an evening session of the Our Singapore Conversation (OSC) dialogue on housing, Mr Khaw said that there is "a sense of inequity" at the profit that EC buyers can make when reselling their units. First-time buyers of both ECs and Build-to-Order (BTO) flats get grants from Housing Board (HDB) to offset the price of their units, the size of which depends on their income.
But the "upside in the property market" gives EC-owners a far higher profit upon resale than the average three-room flat owner, noted Mr Khaw. This translates into "a sense of inequity, that the lower-income is getting less subsidy". This goes against the principle that HDB's subsidies should be progressive, and that the lower-income should get more, he said.
I also find that there is an inequality on the pay that the CEO get as compare to average people like us. :D
Does the selling price of the EC and 3 rooms flat the same, so how can it be equal when come to the profit margin. Lets put aside EC vs 3 room flats. Even 3 room vs 3 room, profit margin will also be different because of different locations, so how, don't subsidize those 3 room flat in good locations?
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