Set quota to help citizens

[mr funny]

http://www.straitstimes.com/STForum/...ry_452126.html

November 10, 2009 Tuesday

Yes, set a property quota for citizens


I AGREE with last Saturday's letter by Mr Joshua Selvakumar, 'Buying private property: Set quota to help citizens'.

If nothing is done to keep property prices sane, many Singaporeans hoping to own private property will go insane. The prices for an apartment or a house at certain locations have gone up by as much as a million dollars. It is madness.

My husband and I have been saving for years to buy our dream house. We are now nearing retirement and looking at today's prices, we can simply forget it.

Sellers raise their prices every month believing that with the influx of foreigners and permanent residents, prices will continue to escalate. Now a million dollars seems not enough when buying a property.

I wonder how the next generation will be able to own property with skyrocketing prices. Will they migrate if they cannot afford a place in Singapore they can call home? My friends and I have discussed this topic and that is our fear.

Life will be very competitive and our children may not even start a family if a basic need is not within reach.

I hope something will be done to control property prices and make them go back to the good old days when we need not bid or ballot for a home.

Wong Mei Keng (Miss)

[mr funny]

http://www.straitstimes.com/STForum/...ry_451276.html

Nov 7, 2009

BUYING PRIVATE PROPERTY

Set quota to help citizens


YESTERDAY'S report ('Developer makes surprise $251m offer') shocked me too, as the bid was three times the trigger price of $82 million. Would it be wrong to say that the Urban Redevelopment Authority (URA) is also adding to the trend of ever spiralling property prices? In the open tender system, the highest bidder usually lands the deal.

The URA, which controls land parcels, should also consider the benefit to, and affordability of, property buyers at large.

Such a massive bid for land will surely ramp up the price of the development. The foreign element - foreigners with big bucks and deep pockets - will force Singaporeans to fork out even more to buy a home.

I suggest two measures to protect Singaporeans and offer citizens a fair chance to own private property:

# Let URA control the land cost as per a median reasonable price. Replace bidding for land parcels with a balloting process for qualified developers to participate at the URA's called price. Balloting will introduce a level playing field and keep land prices sane.

# Each development should set aside a minimum quota for Singaporean buyers to forestall a situation in which Singaporeans may be unable to afford private property and end up being tenants rather than home owners.

If there can be balloting for scarce resources like school admission and public housing, why not apply it to land sales as well?

If a quota system is effective in ensuring a multiracial mix in public housing, why not have the same to ensure a healthy mix of citizens and foreigners in private developments too?

Joshua Selvakumar

[Squall8888]

It is a cock suggestion. So what is the use of a private property if it is the same as HDB?

http://www.straitstimes.com/STForum/...ry_451276.html

Nov 7, 2009

BUYING PRIVATE PROPERTY

Set quota to help citizens


YESTERDAY'S report ('Developer makes surprise $251m offer') shocked me too, as the bid was three times the trigger price of $82 million. Would it be wrong to say that the Urban Redevelopment Authority (URA) is also adding to the trend of ever spiralling property prices? In the open tender system, the highest bidder usually lands the deal.

The URA, which controls land parcels, should also consider the benefit to, and affordability of, property buyers at large.

Such a massive bid for land will surely ramp up the price of the development. The foreign element - foreigners with big bucks and deep pockets - will force Singaporeans to fork out even more to buy a home.

I suggest two measures to protect Singaporeans and offer citizens a fair chance to own private property:

# Let URA control the land cost as per a median reasonable price. Replace bidding for land parcels with a balloting process for qualified developers to participate at the URA's called price. Balloting will introduce a level playing field and keep land prices sane.

# Each development should set aside a minimum quota for Singaporean buyers to forestall a situation in which Singaporeans may be unable to afford private property and end up being tenants rather than home owners.

If there can be balloting for scarce resources like school admission and public housing, why not apply it to land sales as well?

If a quota system is effective in ensuring a multiracial mix in public housing, why not have the same to ensure a healthy mix of citizens and foreigners in private developments too?

Joshua Selvakumar

[mcmlxxvi]

Let's face it. Everyone comments based on personal agenda.

Rare are those commentary that is unbiased and purely based on logic and practicality.

[pearly]

Let's face it. Everyone comments based on personal agenda.

Rare are those commentary that is unbiased and purely based on logic and practicality.

The concept of "Private" if with too much govt or public control could mean the end of the era of "Private" housing.

[Property_Owner]

You just can't please everyone.

[pearly]

You just can't please everyone.

declare all houses in singapore as "private"

[proud owner]

http://www.straitstimes.com/STForum/...ry_451276.html

Nov 7, 2009

BUYING PRIVATE PROPERTY

Set quota to help citizens


YESTERDAY'S report ('Developer makes surprise $251m offer') shocked me too, as the bid was three times the trigger price of $82 million. Would it be wrong to say that the Urban Redevelopment Authority (URA) is also adding to the trend of ever spiralling property prices? In the open tender system, the highest bidder usually lands the deal.

The URA, which controls land parcels, should also consider the benefit to, and affordability of, property buyers at large.

Such a massive bid for land will surely ramp up the price of the development. The foreign element - foreigners with big bucks and deep pockets - will force Singaporeans to fork out even more to buy a home.

I suggest two measures to protect Singaporeans and offer citizens a fair chance to own private property:

# Let URA control the land cost as per a median reasonable price. Replace bidding for land parcels with a balloting process for qualified developers to participate at the URA's called price. Balloting will introduce a level playing field and keep land prices sane.

# Each development should set aside a minimum quota for Singaporean buyers to forestall a situation in which Singaporeans may be unable to afford private property and end up being tenants rather than home owners.

If there can be balloting for scarce resources like school admission and public housing, why not apply it to land sales as well?

If a quota system is effective in ensuring a multiracial mix in public housing, why not have the same to ensure a healthy mix of citizens and foreigners in private developments too?

Joshua Selvakumar

govt also want to make money what ?

how else you think spore can be one of the riches country in the world ?
money come from ERP , stamp duty, land sale ( let you bid high high outkill each other) , development charges ...

all the INCOME indirectly come from the people .. and govt become so rich .. whichever ministry makes the most money ,. that minister will get highest bonus ..

remember they said ..we run this country like an enterprise ...

if we dont pay them well ..they will corrupt ..

so how ?

you want cheap affordable house ? or NON CORRUPT govt ?

[jlrx]

The simplest solution to fulfilling every Singaporean's aspiration of owning a private property is "Mickeymousation".

See! Even my avatar has changed to "Mickey Mouse"!

What the government can do is to direct one of the government-linked private developers (e.g. CapitaLand or Keppel Land) to build many many private condos of 1 square foot each.

One square foot for, say, $20,000. Not only can every Singaporean afford it, we can also eclipse Hong Kong's record price of $13,000 psf and regain some national pride. Alternatively, the government can give these condos to first-time buyers, in place of the HDB housing grant.

To make it even more cool, these condos should be built at posh locations so that everyone can have an address like "#695-236, Ardmore Park" for someone staying on the 695th floor of Ardmore Park" or "7383Y, Cluny Hill" for someone who owns a 1 sf bungalow plot at Cluny Hill.

It's the same as "Mickey Mouse degrees". Since it is every Singaporean's aspiration to become a graduate, the government has let in many foreign institutions to issue "Mickey Mouse degrees".

Through "Mickeymousation", every Singaporean can fulfill both the aspiration of becoming a graduate and owning a private property.

[jwong71]

govt also want to make money what ?

how else you think spore can be one of the riches country in the world ?
money come from ERP , stamp duty, land sale ( let you bid high high outkill each other) , development charges ...

all the INCOME indirectly come from the people .. and govt become so rich .. whichever ministry makes the most money ,. that minister will get highest bonus ..

remember they said ..we run this country like an enterprise ...

if we dont pay them well ..they will corrupt ..

so how ?

you want cheap affordable house ? or NON CORRUPT govt ?

Go Malaysia, Cheap affordable lifestyle,and helpful (corrupted) govt.
But the house prices only go one direction after many years, DOWN!!
If anyone keen for a JB condo,kindly PM. I be glad to offload dad's.

[fourth]

Why don't Gov help us to all stay in penthouse? I dream for so long also. Last time 1 million can already. Now smell smoke. We all getting insane dreaming about it liao.

[kane]

set quota for private property? well hasn't the government already done something close to that with EC?

at least those who ask for help with HDB apt ownership are more rational. woodlands got some private property that hasn't gone up much ma. can always consider those. unless, she wants those around prime area... that would be really thick skinned.

[teddybear]

Think she wants the prime Orchard condo lah since she said "Now a million dollars seems not enough when buying a property." OCR $1m more than enough already lah and still can get back change!

set quota for private property? well hasn't the government already done something close to that with EC?

at least those who ask for help with HDB apt ownership are more rational. woodlands got some private property that hasn't gone up much ma. can always consider those. unless, she wants those around prime area... that would be really thick skinned.

[proud owner]

Think she wants the prime Orchard condo lah since she said "Now a million dollars seems not enough when buying a property." OCR $1m more than enough already lah and still can get back change!

my colleague;s brother just bought a 6 yr old 4000 sqft house , on a plot 88000 sqft land ..with pool and tennis court ... in New Jersey USA .. 30 mins drive from Manhattan ... for USD 1 mio = 1.4 mio SGD ..

also for sale 3600 sqft house ...land 43000 sqft ... seafront in connecticut for just usd 750k = 1.05 mio SGD ...

she shold buy within her means lor ...

although Goh C T did say before all sporeans are EQUAL ..
pls dont that it so literally ...

if we are all equal ..then why when they move around town .. traffic police must stop other cars and let them pass ??

1 mio SGD can buy a nice big EC anywhere in SPORE ... most ECs are near MRT and malls ... shes not looking hard enuff ...