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Chitchat Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Leasehold

JohnTan

Alfrescian (InfP)
Generous Asset
[video=youtube;WTl-ug22emI]https://www.youtube.com/watch?v=WTl-ug22emI[/video]

SINGAPORE - Three freehold landed properties at Merpati Road were legally possessed by the Singapore Land Authority (SLA) from Tuesday (April 25), even though their owners have not handed over the keys to the property.

The homeowners at 27, 29 and 33 Merpati Road were served notice to move out by SLA's deputy chief executive Simon Ong and four other officers this morning. Their 12 other neighbours have already moved out before Tuesday - the final deadline given to the residents.

They had busted four previous deadlines to move out, and are still staying at the site after SLA acquired the land in 2010 for the Mattar MRT station on the Downtown Line 3 and surrounding developments.



Said a spokesman: "The owners were originally given until end August 2015 to hand over the properties. However, to accommodate the owners' requests, SLA had extended the deadline four times by a total of one year and eight months till 25 April 2017.

"The deadline cannot be extended further as agencies will need to commence road realignment and infrastructure works to prepare the area for development."

The Straits Times understands that the three households were offered between $1.7 million to $3.3 million as compensation. SLA said that this is based on market value for the acquired land and determined by private valuers.

It also accounts for any ex-gratia payment, valuation fees, removal fees, stamp fees and legal fees for the purchase of the replacement property.


To assist in their relocation, the three households were also offered various assistance packages. This includes an advance payment of 40 per cent of the compensation, reimbursement of the Additional Buyer's Stamp Duty, concessionary rent back of the acquired properties, waiver of housing loan restrictions and priority balloting for a Housing Board flat.

170425_merpati-road_online_0.jpg


They were also given the option of renting public housing to reside in as they look for another home.

Some of these measures were rejected by the homeowners.

Last April, SLA also took legal possession of a block of walk-up apartments at Tanjong Katong to make way for the new Amber MRT station.

Some residents there had also resisted the deadline to move out, claiming that the compensation amounts were insufficient.

Retiree Mr George Oh, 60, who lives at 29 Merpati Road with two brothers, told reporters that he intends to move out within the next one to two weeks.

He declined to comment on the compensation offered to him, but said it would be hard to get another similar landed property nearby with the compensation.

His family purchased the two-storey 2,000 sq ft in 1974. They have another flat which is still undergoing renovation.

Mr Oh also said they have resisted moving out as it was a convenient location for his brother to get to work.

Said Mr Oh: "We expected them to give us another extension today... Since they say they want to redevelop now, we intend to move out as soon as possible."

Another resident at unit number 27, who wanted to be known only as Mr Loh, also said he will move when his family manages to get a Housing Board flat.

Said the 78-year-old retiree in Mandarin: "We definitely plan to move since everyone else have done so."

http://www.straitstimes.com/singapo...-after-owners-fail-to-move-out-after-deadline
 

zhihau

Super Moderator
SuperMod
Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

Land Acquisition Act, the late Eddie Barker must be very pleased with his handiwork... :biggrin::biggrin::biggrin:
 

kryonlight

Alfrescian (Inf)
Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

Nothing belongs to you in Singapore except liquid cash!
 

syed putra

Alfrescian
Loyal
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

malays were the first to have their kampong land forcibly acquired and their population scattered allover the island so that there will not have a malay majority constituency and voice in parliament.
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

by coincidence this is brought up in papsmearer thread. our comments are very chun chun. talk shit and it happens.

https://www.singsupplies.com/showth...am-known-as-Lease-BuyBack-Scheme-(LBS)-Part-1

Heheheheehhe, this Merpati case happening for quite some time oready. I have already mentioned to Nayrsg there is no such thing as free market for property in Singapore. One entity controls over 80% of the land and 90% of the housing units, where got free market. These home owners in Merpati, anyone ask them whether zikapore got free market in property or not?

Right now on SRX, the cheapest freehold landed property in Singapore is a terrace selling for $1.47 million in ulu Sembawang. The next cheapest is in District 10, small 1200 sq ft dilapidated fixer upper for $1.49 million. For SLA to offer $1.3 - $3.3 million for terrace houses in this pretty good location is a joke. Even these pioneers owning the property already know they cannot buy a similar property nearby for the money they got from SLA. Have to down size to HDB flat? Looks like one of the owners did some extensive renos to his terrace house. Too bad, SLA will tear it down. Given this location and size (article says at least one unit is 2000 sq ft), minimum price in my opinion should be $1.75 million to $4 million for the larger corner one. These owners sure got shortchanged. Who they voted for?
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

malays were the first to have their kampong land forcibly acquired and their population scattered allover the island so that there will not have a malay majority constituency and voice in parliament.

Yes, and you can thank that malay fuck who just died, Othman Wok, for helping the PAPzis betray his own race.
 

borom

Alfrescian (Inf)
Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

70% understand or not what its like to give the 2/3 majority in parliament-meaning they can pass any law-like giving themselves highest political salaries in the world, make local born serves NS but foreign born citizens exempted, take away your property anytime (compulsory acquisition), deprive your freedom by requiring a permit for any assembly of 5 or more persons in public to demonstrate,publicise or mark any event,give jobs, citizenship, university places, scholarships to foreigners ect2.

YOU ASKED FOR IT
 
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Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

70% understand or not what its like to give the 2/3 majority in parliament-meaning they can pass any law-like giving themselves highest political salaries in the world, make local born serves NS but foreign born citizens exempted, take away your property anytime (compulsory acquisition), deprive your freedom by requiring a permit for any assembly of 5 or more persons in any public to demonstrate,publicise or mark any event.give jobs to foreigners ect2.
YOU ASKED FOR IT

Yes, you raise a good point. But the first point that zikaporean fools should be asking is why was the SLA even taking this land? Its for a MRT station. For fuck do we need another new MRT station? Isn't there already so many MRT stations in zikapore? The reason is that they are bringing more and more foreigners in. 6.9 million population white paper already approved and now they are shooting for 10 million. 3 million zikaporeans do not need so many fucking MRT stations. These pioneer fools got their property confiscated for the sake of foreigners. Happy now?
 

frenchbriefs

Alfrescian (Inf)
Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

Heheheheehhe, this Merpati case happening for quite some time oready. I have already mentioned to Nayrsg there is no such thing as free market for property in Singapore. One entity controls over 80% of the land and 90% of the housing units, where got free market. These home owners in Merpati, anyone ask them whether zikapore got free market in property or not?

Right now on SRX, the cheapest freehold landed property in Singapore is a terrace selling for $1.47 million in ulu Sembawang. The next cheapest is in District 10, small 1200 sq ft dilapidated fixer upper for $1.49 million. For SLA to offer $1.3 - $3.3 million for terrace houses in this pretty good location is a joke. Even these pioneers owning the property already know they cannot buy a similar property nearby for the money they got from SLA. Have to down size to HDB flat? Looks like one of the owners did some extensive renos to his terrace house. Too bad, SLA will tear it down. Given this location and size (article says at least one unit is 2000 sq ft), minimum price in my opinion should be $1.75 million to $4 million for the larger corner one. These owners sure got shortchanged. Who they voted for?

If no free market why housing still so expensive?PAP already said prices are determined by free market what.
 

mojito

Alfrescian
Loyal
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

Alamak. Papsmearer wrote long story you still don't understand? Govt got pay you to leave how can become 99 year leasehole? Land acquisition act means we buy what we want pay what we want whether you want. Nothing to do with freehole leasehole or kachnghole.
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

If no free market why housing still so expensive?PAP already said prices are determined by free market what.

PAP is setting the price. they can set it very cheap or set it very expensive. which way you think the Hakka jew's family will go? If PAP set HDB flat price at $50,000 per unit, then everything all the way up to private leasehold condos will also be cheap. In the 70s and 80s, when there were a lot less HDB flats, did anyone complain that housing was expensive? I don't think so when you can buy a flat for $16k.
 

frenchbriefs

Alfrescian (Inf)
Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

PAP is setting the price. they can set it very cheap or set it very expensive. which way you think the Hakka jew's family will go? If PAP set HDB flat price at $50,000 per unit, then everything all the way up to private leasehold condos will also be cheap. In the 70s and 80s, when there were a lot less HDB flats, did anyone complain that housing was expensive? I don't think so when you can buy a flat for $16k.

That's when they set the price obviously,but once they started allowing hdb flats to be resold on the market they couldn't put a arbitrary price on flats anymore.no more cheap housing for the people,instead it became a race to see whose hdb will hit a million first.
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

That's when they set the price obviously,but once they started allowing hdb flats to be resold on the market they couldn't put a arbitrary price on flats anymore.no more cheap housing for the people,instead it became a race to see whose hdb will hit a million first.

Oh boy, you still don't get it. Who controls the market for HDB new flats? The HDB of course. Who controls the market for HDB resale flats? The same HDB. why am I the only one that has to explain this?

Once upon a time, if you wanted to sell your flat, you have to sell it back to the HDB. You had no choice, there was no market for HDB flats because by law, the HDB was the only buyer. We agree on this?

Then HDB allowed the flats to be resold privately. At first, there was not much price difference between what one paid for a flat and what one sold the flat for, lets say 3-5 years later. Perhaps you paid $80-100K for your flat in those days, and 3-5 years later, depending on the decade, maybe it goes up only $10-20k. But time is on the side of the HDB. So, lets say for that year, there is a demand for 20,000 flats. But they build 10,000 only. And they continue to underbuild for several years. What happens then? There is pent up demand for new build flats, which cannot be satisfied, and was deliberately caused by the HDB. what happens when people have to wait for several years for a new flat, amid a chronic shortage of flats? they will start to buy resale flats. the demand for resale flat goes up and the price goes up with it too. when this happens, the HDB waits for the price to reach a certain point and then build new flats to release on the market. But will they release it at the old prices before the resale market when up? Of course not. They will now start to sell their flats for 70% of what the equivalent price for a older resale flat is and call the difference a market subsidy. The bottom line is that they manipulated the market to get the price up for the resale flats and then use that to justify the increases in prices for new flats.

After a few decade of this, the market for flats is tapped out. After all, the sinkie population is only so much and not reproducing enough. Enter the new policies to increase population to 5.5 million, then 6.9 million and now 10 million. The increase in population thru new shitizens and PRs allow the PAP to create a new stream of demand. HDB once again repeats the cycle and under builds for this population influx hence creating even higher prices. then they release their supply of BTOs and what ever shit into the market for even more $. that is why FTs are like gold. they are worth more to the PAP then a sinkie.
 

frenchbriefs

Alfrescian (Inf)
Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

Oh boy, you still don't get it. Who controls the market for HDB new flats? The HDB of course. Who controls the market for HDB resale flats? The same HDB. why am I the only one that has to explain this?

Once upon a time, if you wanted to sell your flat, you have to sell it back to the HDB. You had no choice, there was no market for HDB flats because by law, the HDB was the only buyer. We agree on this?

Then HDB allowed the flats to be resold privately. At first, there was not much price difference between what one paid for a flat and what one sold the flat for, lets say 3-5 years later. Perhaps you paid $80-100K for your flat in those days, and 3-5 years later, depending on the decade, maybe it goes up only $10-20k. But time is on the side of the HDB. So, lets say for that year, there is a demand for 20,000 flats. But they build 10,000 only. And they continue to underbuild for several years. What happens then? There is pent up demand for new build flats, which cannot be satisfied, and was deliberately caused by the HDB. what happens when people have to wait for several years for a new flat, amid a chronic shortage of flats? they will start to buy resale flats. the demand for resale flat goes up and the price goes up with it too. when this happens, the HDB waits for the price to reach a certain point and then build new flats to release on the market. But will they release it at the old prices before the resale market when up? Of course not. They will now start to sell their flats for 70% of what the equivalent price for a older resale flat is and call the difference a market subsidy. The bottom line is that they manipulated the market to get the price up for the resale flats and then use that to justify the increases in prices for new flats.

After a few decade of this, the market for flats is tapped out. After all, the sinkie population is only so much and not reproducing enough. Enter the new policies to increase population to 5.5 million, then 6.9 million and now 10 million. The increase in population thru new shitizens and PRs allow the PAP to create a new stream of demand. HDB once again repeats the cycle and under builds for this population influx hence creating even higher prices. then they release their supply of BTOs and what ever shit into the market for even more $. that is why FTs are like gold. they are worth more to the PAP then a sinkie.

sure sure basic supply and demand,everyone understands that but u keep harping on.it used to be a closed market,hdbs were build and sold at cost price,and when u wanted to sell ur hdb it went back to the government at cost price.thats how it worked and how public housing is supposed to work,however PAP decided to allow HDB to be sold on the resale market,this created a open and private market,now other forces started coming into play,flat prices started to be determinded by their location,demand,the demographics,income,population size,economy and inflation etc,this way might be the "better" or more "efficient" way,but it opens to speculation,manipulation and bubble like effects,although no one really knows when a HDB is "overpriced" as long as the population continues to afford it over a extended period of loan and interest rates remain low and the economy hums along,things could remain this way for a long time,although we could see that during the 1997 asian finanical crisis that housing prices arent immune to market conditions.HDB flats shouldnt be encouraged as a form of "foolproof" investment for daft sinkies and PAP cannot predict the future always,what this country needs is a good kick in the economic nuts to send housing prices tumbling and sinkies to start jumping when their precious "HDB" falls by 30 percent.then will their curses and wrath and woe be upon PAP's heads.
also shouldnt PAP know roughly how many hdb flats we need judging from the number of BTO applications in the previous years?
 
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JohnTan

Alfrescian (InfP)
Generous Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

Oh boy, you still don't get it. Who controls the market for HDB new flats? The HDB of course. Who controls the market for HDB resale flats? The same HDB. why am I the only one that has to explain this?

Once upon a time, if you wanted to sell your flat, you have to sell it back to the HDB. You had no choice, there was no market for HDB flats because by law, the HDB was the only buyer. We agree on this?

Then HDB allowed the flats to be resold privately. At first, there was not much price difference between what one paid for a flat and what one sold the flat for, lets say 3-5 years later. Perhaps you paid $80-100K for your flat in those days, and 3-5 years later, depending on the decade, maybe it goes up only $10-20k. But time is on the side of the HDB. So, lets say for that year, there is a demand for 20,000 flats. But they build 10,000 only. And they continue to underbuild for several years. What happens then? There is pent up demand for new build flats, which cannot be satisfied, and was deliberately caused by the HDB. what happens when people have to wait for several years for a new flat, amid a chronic shortage of flats? they will start to buy resale flats. the demand for resale flat goes up and the price goes up with it too. when this happens, the HDB waits for the price to reach a certain point and then build new flats to release on the market. But will they release it at the old prices before the resale market when up? Of course not. They will now start to sell their flats for 70% of what the equivalent price for a older resale flat is and call the difference a market subsidy. The bottom line is that they manipulated the market to get the price up for the resale flats and then use that to justify the increases in prices for new flats.

After a few decade of this, the market for flats is tapped out. After all, the sinkie population is only so much and not reproducing enough. Enter the new policies to increase population to 5.5 million, then 6.9 million and now 10 million. The increase in population thru new shitizens and PRs allow the PAP to create a new stream of demand. HDB once again repeats the cycle and under builds for this population influx hence creating even higher prices. then they release their supply of BTOs and what ever shit into the market for even more $. that is why FTs are like gold. they are worth more to the PAP then a sinkie.

What the fuck are you talking about? Are you high or something?

HDB prices are high and stay high because

1) there is a demand for HDB flats

2) most buyers agree that HDB flats are appreciating assets even if they are leasehold

3) most buyers are able to service their loans and pay off their flats.


It's as simple as that.
 

frenchbriefs

Alfrescian (Inf)
Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

What the fuck are you talking about? Are you high or something?

HDB prices are high and stay high because

1) there is a demand for HDB flats

2) most buyers agree that HDB flats are appreciating assets even if they are leasehold

3) most buyers are able to service their loans and pay off their flats.


It's as simple as that.

so what happens when HDB prices become low?
 

nayr69sg

Super Moderator
Staff member
SuperMod
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

so what happens when HDB prices become low?

It means Singapore gone case already.

It is a no win situation. Singapore prospers and price of property and cars goes up and up and up. Prices drop to cheap cheap means Singapore economy jia lat liao.

No win. Why you think I got out?
 

JohnTan

Alfrescian (InfP)
Generous Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

so what happens when HDB prices become low?

The opposite happens.

1) there is very weak demand for HDB flats (which happened before)

2) most buyers agree that HDB flats are no longer appreciating assets (recession or lease running out soon)

3) most buyers are not able to service their loans and pay off their flats.
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
Re: Freehold Property Big Fuck? Still Can Take Back And Relegate You to 99-Year Lease

2) most buyers agree that HDB flats are appreciating assets even if they are leasehold


It's as simple as that.

HDB are not leasehold you fucking idiot. I defy anyone to show me their HDB paperwork where the word leasehold is mentioned. HDB is a lease only. To be exact, a 99 prepaid rental. Get you bird brain around that concept.
 
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