Did he make the right decision to buy Tampines Court?

[Amber Woods]

Dear Editor,

I am a 64-year-old Singaporean. I own a former HUDC unit at Tampines Court, bought from the open market before privatisation. Unlike the current generation, I did not receive any grants or baby bonuses. The Housing Board considers that I have enjoyed two HDB privileges, the first of which was bought directly from the agency in the 1980s.

Now I’m about to retire without much money in my savings except for a few hundred dollars from my CPF payout. My recent request to HDB to allow my spouse and I to buy a unit directly from HDB was turned down, and I understand I have to give up my home at Tampines Court upon getting a HDB flat.

But the private property market is depressed and I will not receive much money from the sale of my private unit, therefore my desire to get a HDB unit. But I’ve been told I only qualify for a studio apartment which I have to share with four family members.

I write to highlight the plight of my generation who have spent their whole lives paying for housing and looking after their family, but have not enjoyed any subsidies. Now that we have entered our silver years, we do not have much money left for retirement and live in homes that cannot be used for reverse mortgage.

I hope the National Development Minister can look into the many cases of elderly Singaporeans who are in a similar predicament.

Mr Rami Karapan

[Kelonguni]

These voices from selected groups and developers are going to get louder, and louder, and louder.

They are actually stating a point and sending signals.

Can they be brushed aside all the time?

[Arcachon]

The Game rule is very clear, there are those who benefit the most and there are those who get none.

If the rule is to change according to the player then this place is not call Singapore.

There is not enough info in this case, what is the status of the other four family member. Working, still schooling, retire......

Real estate agent only get pay when you buy and sell, how you manage your retirement requirement all depend on yourself.

Your choice of housing in the early life cannot be a fault of others when you mess out in later life.

[Amber Woods]

He bought private property after his Tampines Court was sold en bloc in 2007. He chose to upgrade to a private property after the en bloc sale and now wants to buy BTO flat and keep his private property.

He should not be complaining given that he had enjoyed a windfall for his en bloc sale of Tampines Court.

He wants to buy HDB flat now and at the same time keep his private property property for rental.

He appears to be caught by the government's cooling measure that private property owners need to dispose of their private property if they want to buy HDB flat.

He is one of the many that government was not ready to help because they own private property and still ask for help. He could easily sell his private property and buy a resale HDB flat and be cash rich. He choose not to because he thinks he has not enjoyed any subsidy from HDB when buying his first flat in the 80s'.

Does he deserve his call for help?

[Arcachon]

Rule of the game are very clear, most think their vote can change the rule.

Eat the two cherry first and then think about private.

Most are educated to work hard but not think hard.

Buying private is not the end of the game, it is just the start of the game.

[Kelonguni]

I think he can't buy cos he needs the cash proceeds to have the funds to buy larger unit for family but his funds are locked in his current property so he can only buy studio apartment.

Actually he did get 1 subsidy before buying direct in 1980... Very weird scenario.




He bought private property after his Tampines Court was sold en bloc in 2007. He chose to upgrade to a private property after the en bloc sale and now wants to buy BTO flat and keep his private property.

He should not be complaining given that he had enjoyed a windfall for his en bloc sale of Tampines Court.

He wants to buy HDB flat now and at the same time keep his private property property for rental.

He appears to be caught by the government's cooling measure that private property owners need to dispose of their private property if they want to buy HDB flat.

He is one of the many that government was not ready to help because they own private property and still ask for help. He could easily sell his private property and buy a resale HDB flat and be cash rich. He choose not to because he thinks he has not enjoyed any subsidy from HDB when buying his first flat in the 80s'.

Does he deserve his call for help?

[Arcachon]

Problem with most they like to clear their housing loan, then got no cash to play the game.

[irisng]

I think he can't buy cos he needs the cash proceeds to have the funds to buy larger unit for family but his funds are locked in his current property so he can only buy studio apartment.

Actually he did get 1 subsidy before buying direct in 1980... Very weird scenario.

I think he didn't get any subsidy leh. I bought my HDB sometimes in Yr 1984, also no subsidy, still have to pay $125k (25%) levy to govt when I sold my HDB in Yr 2000.

Everybody has 2 chances of buying houses from HDB, actually I don't quite understand. Is it 2 chances of buying direct from HDB or buying from open market is also considered as 1 time? One of my friends bought her 1st flat from open market and she said that she still has only 1 chance to buy from HDB but why another of my friends had bought twice from open market and yet he still has a 3rd chance to buy direct from HDB. His new flat will be ready by Yr 2020.

[Arcachon]

You get two new cherry. If you get old cherry with grant then consider new cherry.

[irisng]

You get two new cherry. If you get old cherry with grant then consider new cherry.


Oic, thanks.