Kelonguni
09-05-14, 08:24
Drawback of selling flats to buy bigger private units
PUBLISHED ON MAY 9, 2014 12:28 AM 0 5 0 0
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IT HAS been decades since the HDB was set up with the mission of providing affordable homes for Singaporeans ("Why condo units are shrinking" by Ms Chan Suan Yen; Wednesday).
Since then, we have gone from Third World to First in terms of lifestyle and wealth.
Many HDB residents have become rich enough to upgrade to private property. Others choose to invest in small private properties to rent out for passive income.
It is unwise to suggest that they be made to sell their flats so they can purchase bigger private apartments. If their circumstances change, they would be in big trouble. Buying an HDB flat then would be difficult and they may even be left without a roof over their heads.
It seems the only avenue of investment most of us know of is purchasing property for renting out. There is either a lack of alternative forms of investment here, or a lack of knowledge of these options.
Foreigners working in Singapore and their families create demand for smaller and cheaper apartments. Singaporeans are wise to capitalise on this demand.
Frederick Ho
PUBLISHED ON MAY 9, 2014 12:28 AM 0 5 0 0
IT HAS been decades since the HDB was set up with the mission of providing affordable homes for Singaporeans ("Why condo units are shrinking" by Ms Chan Suan Yen; Wednesday).
Since then, we have gone from Third World to First in terms of lifestyle and wealth.
Many HDB residents have become rich enough to upgrade to private property. Others choose to invest in small private properties to rent out for passive income.
It is unwise to suggest that they be made to sell their flats so they can purchase bigger private apartments. If their circumstances change, they would be in big trouble. Buying an HDB flat then would be difficult and they may even be left without a roof over their heads.
It seems the only avenue of investment most of us know of is purchasing property for renting out. There is either a lack of alternative forms of investment here, or a lack of knowledge of these options.
Foreigners working in Singapore and their families create demand for smaller and cheaper apartments. Singaporeans are wise to capitalise on this demand.
Frederick Ho