Do new HDB rules against PRs subletting flats reveal alarming trends?

[SBR]

I think no.. I agree with one commentator in this article that it is just to distinguish the benefits of Singaporeans over foreign residents. http://sbr.com.sg/residential-proper...larming-trends

What 'ya think?

[Kelonguni]

I think no.. I agree with one commentator in this article that it is just to distinguish the benefits of Singaporeans over foreign residents. http://sbr.com.sg/residential-proper...larming-trends

What 'ya think?

No point thinking so much - only they have the stats.

My thoughts are, the slew of pro-SG policies will increase the citizen population even though the number of newborn Singaporeans continue to dip. Nuff said.

[Wild Falcon]

Seriously, the PRs in SG given too much benefits liao until take away a bit they kao bei kao bu. Name me another country in the world where PRs can buy government subsidised housing and and still rent out?

[radha08]

Seriously, the PRs in SG given too much benefits liao until take away a bit they kao bei kao bu. Name me another country in the world where PRs can buy government subsidised housing and and still rent out?

i also say......kelong

[SpinCity]

Seriously, the PRs in SG given too much benefits liao until take away a bit they kao bei kao bu. Name me another country in the world where PRs can buy government subsidised housing and and still rent out?

Isn't the government subsidy only available to the citizens?

[Allthepies]

if u think abt it, this is one way for citizens to offload over priced hdb to pr. so better not discuss this topic too much.....

[bakasa2002]

Isn't the government subsidy only available to the citizens?

He is not talking about housing grant, he's talking about PR+PR can buy resale flat, then after MOP can rent out flat for income?

[SpinCity]

He is not talking about housing grant, he's talking about PR+PR can buy resale flat, then after MOP can rent out flat for income?

HDB flats can be called "government subsidized public housing" only when buyers receive government subsidy at the time of purchasing
All the resale flats come from citizens. When a PR buys a resale flat from a seller, he/she not only does not receive the government grant but pay a COV to the seller.
In a sense this PR is a subsidy granter rather than receiver

HDB flats are no longer "public housing" once they are sold by the 1st buyer to an individual. At best they are "modest cost housing product"

[howgozit]

Hmmm... never thought about it this way... you do have a good point.

HDB flats can be called "government subsidized public housing" only when buyers receive government subsidy at the time of purchasing
All the resale flats come from citizens. When a PR buys a resale flat from a seller, he/she not only does not receive the government grant but pay a COV to the seller.
In a sense this PR is a subsidy granter rather than receiver

HDB flats are no longer "public housing" once they are sold by the 1st buyer to an individual. At best they are "modest cost housing product"

[timmy]

if u think abt it, this is one way for citizens to offload over priced hdb to pr. so better not discuss this topic too much.....

Why not discuss this? Precisely becos these rich PRs drive up resale prices, Singaporean couples who cannot qualify or afford to wait for new flat have to pay sky high prices. So unfair!

[howgozit]

So are u saying is Singaporeans shouldn't sell to PRs in the first place?

Why not discuss this? Precisely becos these rich PRs drive up resale prices, Singaporean couples who cannot qualify or afford to wait for new flat have to pay sky high prices. So unfair!

[SpinCity]

Why not discuss this? Precisely becos these rich PRs drive up resale prices, Singaporean couples who cannot qualify or afford to wait for new flat have to pay sky high prices. So unfair!

To be fair, how about only Singaporeans can own HDB flats?

[Estella83]

So are u saying is Singaporeans shouldn't sell to PRs in the first place?

He is saying rich PR driving up public housing due to lax policy

[Estella83]

To be fair, how about only Singaporeans can own HDB flats?

I do not mind buying a public housing in hk if I can, provided if I can get their PR so easily.

[Arcachon]

HDB flats can be called "government subsidized public housing" only when buyers receive government subsidy at the time of purchasing
All the resale flats come from citizens. When a PR buys a resale flat from a seller, he/she not only does not receive the government grant but pay a COV to the seller.
In a sense this PR is a subsidy granter rather than receiver

HDB flats are no longer "public housing" once they are sold by the 1st buyer to an individual. At best they are "modest cost housing product"

Tell that to the HDB's panel of valuers and they can confirm even the resale HDB is subsidized.

When a property valuation is control, the property is subsidized by someone.


Valuation Process

The valuations are carried out by HDB's panel of valuers who are professionally qualified and licensed by the Inland Revenue Authority of Singapore (IRAS).

Listed below are the procedures on how a valuation process is carried out:

1 On receiving the completed request form with the payment, HDB will assign a valuer randomly from its panel to assess the flat’s value.

2 The valuer will arrange with the flat owner to view the flat for assessing the value of the flat

3 The valuation report is usually ready within 2 weeks after the valuer’s visit and will be sent to the requestor by post

4 The valuation report is valid for a period of 3 months from the date of the report

[howgozit]

Yes I get that... but the PRs can only buy from other Singaporeans in the first place right?

So the only solution is that Singaporeans don't sell to PRs... is he suggesting that? Or as Spincity suggests, legislation to restrict HDB to only Singaporeans regardless of new or resale.

This will bring about another set of problems... if Singaporeans are restricted to only selling to Singaporeans then they would not be able to achieve the quantum jump required to move to the next level onto PCs. The next thing is that HDB owners will be complaining that the government is preventing them a chance to upgrade to PCs.

Btw, rich PRs don't buy HDB. PRs that buy HDB are not rich...

He is saying rich PR driving up public housing due to lax policy

[howgozit]

PR in HKG not that difficult... public housing? that's another matter.. have you seen what their public housing is like btw?

I do not mind buying a public housing in hk if I can, provided if I can get their PR so easily.

[Estella83]

Yes I get that... but the PRs can only buy from other Singaporeans in the first place right?

So the only solution is that Singaporeans don't sell to PRs... is he suggesting that? Or as Spincity suggests, legislation to restrict HDB to only Singaporeans regardless of new or resale.

This will bring about another set of problems... if Singaporeans are restricted to only selling to Singaporeans then they would not be able to achieve the quantum jump required to move to the next level onto PCs. The next thing is that HDB owners will be complaining that the government is preventing them a chance to upgrade to PCs.

Btw, rich PRs don't buy HDB. PRs that buy HDB are not rich...

Yes, Singaporean can only sell public housing to PR convert sg citizen

[Arcachon]

Hmmm... never thought about it this way... you do have a good point.

Ever occur to you why HDB need COV.

I sold my 4 room A model in 1995 with a valuation of 195k for 285k. I was told by the HDB valuers they need HDB approval after their valuation and I ask them, why then should I pay for Valuation when HDB is the one to decide the value of my unit.

Maybe you should ask the valuer the next time you do a valuation of your HDB.

Valuation Process

The valuations are carried out by HDB's panel of valuers who are professionally qualified and licensed by the Inland Revenue Authority of Singapore (IRAS).

Listed below are the procedures on how a valuation process is carried out:

1 On receiving the completed request form with the payment, HDB will assign a valuer randomly from its panel to assess the flat’s value.

2 The valuer will arrange with the flat owner to view the flat for assessing the value of the flat

3 The valuation report is usually ready within 2 weeks after the valuer’s visit and will be sent to the requestor by post

4 The valuation report is valid for a period of 3 months from the date of the report

[Estella83]

PR in HKG not that difficult... public housing? that's another matter.. have you seen what their public housing is like btw?

not difficult? U sure? U have not seen the worst part Of Singapore. Pee outside my lift lobby, staircase n lift. The ground floor smell like pee everyday. I'm not kidding.

[howgozit]

Ok... that is your opinion.

Chances are more people will be unhappy when you don't allow them to profit on their HDB. You may be depriving them of a possibility of an upward mobility.

And when they can't profit, they can't make the jump to PC as the gulf is too wide. It will be even wider since PRs can't buy HDB (even resale) then the private market will be even pricier bcoz the are forced to enter the private market.

Singaporeans may be resigned to be stuck to HDB.

Yes, Singaporean can only sell public housing to PR convert sg citizen

[Estella83]

Ok... that is your opinion.

Chances are more people will be unhappy when you don't allow them to profit on their HDB. You may be depriving them of a possibility of an upward mobility.

And when they can't profit, they can't make the jump to PC as the gulf is too wide. It will be even wider since PRs can't buy HDB (even resale) then the private market will be even pricier bcoz the are forced to enter the private market.

Singaporeans may be resigned to be stuck to HDB.

public housing shouldn't be make profit out of it in the first place. Yes, singaporean earning less than 12k should resigned to be stuck in hdb

[buttercarp]

public housing shouldn't be make profit out of it in the first place. Yes, singaporean earning less than 12k should resigned to be stuck in hdb

LOL...... tell this to yowetan.

To me, public housing at affordable price is a birth right for Singaporeans.
Profiting from it especially for the first timers is very crucial in upgrading.

[Estella83]

对牛弹琴。。。。。.

Anyway, if need to make profit to upgrade means these people cannot afford pc in the first place

[buttercarp]

对牛弹琴。。。。。.

Anyway, if need to make profit to upgrade means these people cannot afford pc in the first place

对牛弹琴....... LOL !

Yup, HDB is a cash cow.

You can celebrate with music after you have profited from it.

[Estella83]

N migrate to other country with the cash.....

[yowetan]

public housing shouldn't be make profit out of it in the first place. Yes, singaporean earning less than 12k should resigned to be stuck in hdb

There are not many Singaporean individual(s) earning 12k per month.

Being said, I believe alot of those who earns below 10k are getting condominium. Quality lifestyle shouldn't be made exclusive from peasants.

[ysyap]

There are not many Singaporean individual(s) earning 12k per month.

Being said, I believe alot of those who earns below 10k are getting condominium. Quality lifestyle shouldn't be made exclusive from peasants.

I also know of people earning less than $10k/mth staying in landed. Some are inherited while some are purchased through diligent saving. Anyway, that was like some time back when an interterrace was still only about $1.2 mil. Now abit difficult...

[buttercarp]

There are not many Singaporean individual(s) earning 12k per month.

Being said, I believe alot of those who earns below 10k are getting condominium. Quality lifestyle shouldn't be made exclusive from peasants.

If peasants can afford, then it is not considered exclusive anymore.
To me the only exclusive forms of housing are GCB and Sentosa Cove Bungalows.

[yowetan]

I also know of people earning less than $10k/mth staying in landed. Some are inherited while some are purchased through diligent saving. Anyway, that was like some time back when an interterrace was still only about $1.2 mil. Now abit difficult...

It is achievable, as long people under one roof united.