looks like not an easy job i think there are more houses in singapore than flies........siao ah how to control hdb/condo/landed/bto/dbss/ec...everyday sre need to take panadol...
for me i would RESIGN...
Senior
looks like not an easy job i think there are more houses in singapore than flies....
for me i would RESIGN...
Newbie
So start to appreciate what the former had done?Originally Posted by radha08
looks like not an easy job i think there are more houses in singapore than flies....
for me i would RESIGN...
Senior
First and foremost, after listening to the developers' and housing agent's voices, they should start listening to home owners' and potential buyers' voices and consolidate their findings in terms of priorities.
Second, they should reveal, based on these above priorities, policies which have not served the market well, and to remove housing types which have since been abused by either developers, agents or buyers.
Third, don't talk so much or give so much promises that may potentially backfire if not managed or handled well.
Fourth, arrange with specialist for next heart bypass and sleep therapist for help with all the lack of sleep...
Newbie
Well, didnt he volunteer for this post???
He must have known what he is in for otherwise why volunteer for this.
So its looks like its a much more complex and challenging task as compared to the health ministry.
Regretting the move, already??
Go for Smallest Unit
If I were him, I would ramp up EC supplies.
But I would also take something back, HDB folks can no longer purchase private properties if they have outstanding loan. If fully paid, allowed 1 unit.
I would also build cheap cheap HDB in non mature estates and sell them cheap cheap. Built first then worry, at most, rent them out can always rent to students.
Newbie
i think priority should be given to 1st time home owner.
For upgraders / private property etc, it should be left to the market forces.
Singapore = $ingapore
hmmm... don't tell me KBW himself started this thread, in order to get more ideas from the ppl...
Newbie
I would hope him to first reach the consensus among his colleagues and the people, especially the singaporeans, what's the definition of public housing.
Is it merely a "roof above your head" or an asset class that will appreciate over time which Singaporeans, or PR in a broader scope, can accumulate wealth from it
He has to sound it out unequivocally so people can make decision accordingly
To me, the concepts of "roof above your head" and "wealth generation" are conflict with each other
Newbie
KBW is in hot soup now.
Move one way and one group gets affected.
Move the other way and political pressure would come down hard on him due to vested interests.
I'm not one to teach him how to do it just because he should know what to do based on how much he is paid.
I only want to make him aware that public housing must come with public housing attributes, otherwise it should not be called 'public' but 'market' instead.
Newbie
1) Scrap DBSS or set a max sales price of not more than 2.5 times of land price
2) Impose 90% capital gains tax on PRs on sale of resale HDB flat, unless another HDB flat is bought within 6 mths. Waived if PR converts to Singaporeans.
The resale HDB market will cool immediately, given that PRs make up 20% of HDB market, and is politically popular.
I wanted to add: Cant sublet entire unit (like the old days), but that's not possible now due to the supply crunch...Haha.....
Junior
I don't think KBW is that stressed lah. His style of governance is just more paternalistic which can make him appear more worried than he actually is. I think that is what he wants to project to the public anyway.
Global recession is coming....
My suggestions from another thread:
teddybear[/B]]On 1 hand they are in control of HDB flats via MND (they can control supply via building HDB flats and they can control demand via rules and regulations they have absolute control in changing) and they promise to solve the complaint about run-away HDB flats prices. On the other hand the HDB flats prices are running away much faster than private properties which is slowing down by so much vs the increasing by so much for the HDB flats' prices? Either they are incompentent or they are not doing what they said they want to do! They can slap 4yrs 16% SSD on private properties and they can't do the same for HDB flats via simiar draconian measures?Simple lah, let me give them some suggestions:
1) Nobody is allowed to simultaneous own HDB flat and private properties. (They can either keep private or keep HDB).
2) 10 years MOP. Those who sell back to HDB before 10 years MOP got slapped with 16% SSD.
3) HDB flats for own stay only, cannot rent out!
Newbie
All HDB/DBSS/BTO/EC type property should be reserved for Sporeans, PRs can buy resale but for own use only, but not to let out/ partial let out,
Also if they want to buy private, they must sell their HDB, this should be implemented asap, lots of PRs living in private property and rented out their HDBs and vice versa. If they can afford private, they should give up the HDB to someone more needy....
Also impose 50% capital gains tax to PRs who sell HDB, no time limit. Use that income to help lower income Sporean families get on the HDB ladder.
Newbie
Hi teddybear, we are on the same line......
Junior
... And ppl already sympathize with him ...win one already.
MBT too arrogant, that's why ppl dun like him.
Newbie
buy a sealy mattress for better sleeplooks like not an easy job i think there are more houses in singapore than flies....
for me i would RESIGN...
Newbie
If he wants to do good to public housing, he can do the following:
1. Push out lots of BTO supplies (he's already trying to do it).
2. Launch some BTOs in good location eg kallang, bishan, etc. And launch them more exp than normal BTO but cheaper than DBSS (ie 500-550k 5-room BTO).
3. Increase BTO income ceiling to 9k and EC income ceiling fixed at 10k.
4. Remove the first-timer grant for people buying resale HDB.
5. Push out more ECs all over the island (OCR).
6. Scrap DBSS system and convert all initially planned DBSS sites into BTO.
7. Ban people from owning both private and HDB. Existing owners who fall into this category must sell within 2 years.
And he must do all these soon so that if some people got angry with him, they will forget 5 years later when things return to normal..
Junior
In some countries, foreigners can only sell to locals. This can curbed foreign speculation to a great degree.
The justification was simple, foreigners must buy with the mind that when they sell it must be at a price that a local is willing to pay.
I believe Australia used to practise this (not sure about now). And Australia is a huge country unlike land-scarce Singapore.
Just a thought.
Junior
Although I understand the spirit of this, i dun agree with this principle. It should be a free economy, especially for SG, where it's known and established to be a free and fair economic and political system. This foundation cannot be shaken at will.
And mate, Ausrtalia is hardly a good example of a good economy. Totally unbalanced development. Just look at the diff between west and east Australia. Everything is just dig-out-and-sell-to-china.
Senior
This policy is useful in the long term. But it will cause dumping of properties by foreigners in the short term because there are far too many foreigners owning condos in Singapore e.g. Indonesians and Malaysians. It might cause pte property prices, developers and banks to be severely affected. Given the weak global economy, this is an extremely unlikely policy.
Junior
Yep, points taken. It's just a thought, I am aware that to implement something like this is near impossible. Anyway, it is probably too late.
Cheers!
Junior
At least they got lots of dirt to "dig-out-and-sell-to-china". We can't even buy dirt from our neigbours (for reclaimation....)
So we have to continue to sell air to foreigners (strata-titled condos).
Junior
KBW offered to take up this job, most of us thought that he already has some ideas in mind. But we know that this is not an easy task, partly also because he has no experience in this field. He once said that supply is more than demand, I think he is hopping that this news will bring the ppty prices down but looks like it doesn't really help much in this round.
I strongly agree with the above quoted by "condoinvestor". Govt is like our parents. Singaporeans should be taken care of first before the foreigners. Those PR who bought the resale HDB flat should use it for their own stay only. They shouldn't rent it out to earn additional income. If they want, then convert to Singaporeans, so that they can also have a share of those benefits that Singaporeans have.
Anxious buyers are waiting for the ppty prices to drop but how about the developers & investors, of course they hope that the ppty prices will keep on rising. When people want to buy, they want to buy low but when people want to sell, they want to sell high, headache lahhhhhh.
Senior
hmm excuse me i am not chinese....
Senior
Whatever it is, there are many ideas here for him and his team to explore and improve on... cheers!
Global recession is coming....
Agreed on this.
However, HDB is not free market since new units are reserved for citizens only.
Private properties market should be left to market forces and Govt should not interfere and create artificial prices. This should be similar to the stock market which is left to market forces. Otherwise they should intervene when stock market index STI go up to much or drop too much.
Exalted
Yes....its time to draw a clearer line between singaporeans and pr
Many pr bot hdb resale flat n rent out rooms immediately...
Newbie
This kind of thing is cross-ministry level of decisions, KBW got no power one. To the cabinet, they might feel priority to to attact PRs and FTs, while housing is a secondary issue. So, even if KBW wants it to happen, the rest of the ministers might object.
Not so simple..
Newbie
you are right, and we should not restrict foreigners from buying landed properties as well. when property the bubble burst and the share price of singapore financial institutions collapse, I dont think our government should do anything either. Just let market forces play itself out. if local financial institutions fail or S$ collapse, no need to worry, just ask our President to allow GIC to cash out $100b from our reserves to rescue the banks.Agreed on this.
However, HDB is not free market since new units are reserved for citizens only.
Private properties market should be left to market forces and Govt should not interfere and create artificial prices. This should be similar to the stock market which is left to market forces. Otherwise they should intervene when stock market index STI go up to much or drop too much.
Newbie
KBW should simply carry on with MBT policies. He must take care of the 60% of Singaporeans who voted the PAP in and not be bogged down with the other 40%, who incidently are not entirely against MBT policies either.
Singapore has 1 dwelling unit for every 3 persons. This is at least 3 times more than other advanced countries. It is true that we have an "apparent" oversupply situation.
But this so-called oversupply is easily absorbed by the desire by most Singaporeans to own more than one property. Which many did. And more are lining up to do so. And it is perfectly fine. High liquity and low interest rates have allowed them to do so. Why are we stopping them from achieving their property dreams?
The cooling measures introduced over the past year have already taken effect. Otherwise prices would have gone over the roof by now. But then, I think, the measures so far is more than enough.
The government should not tinker with the property market too much. The market will decide when to stop or slow down. The players in the market - the developers, bankers, and buyers are fully aware of the risks and they will know when to pull the brakes. They have their eyes on the board and their ears on the ground.
It is impossible for the government to prevent some collateral damage during economic cycles. Even advanced countries with all their economic wizards are unable to prevent property cycles. It is all part of the fun and games of living in a free economy.
So KBW should get a good sleep and smile for the press...just like Dr Tony Tan. It gives the people the confidence to move on.
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