HDB Resale Levy

[Fugitive]

Does anyone know what is resale levy? I had a shock of my life.

Allow me to explain. In late 1999 just when shit started to hit the fan for me I had no choice but sell my flat, sold it in 2000 and I went on the run.

Now back wanted to apply for new flat was told by HDB I need to pay a resale levy. Asked what is a resale levy he explained that new flats are all subsidized so when I sold the flat and didn't pay back the subsidy of the fist flat my next subsidized flat application I need to pay back the first subsidy plus interest. For my case he told me its $184k and it has to be paid with cash only and before collecting keys.

Was shocked to know this Resale Levy thing.

Anyway the HDB guy told me he always advise people in my situation to buy resale, can borrow and also select choice units. Don't know what to do now.

 

[halsey02]

Does anyone know what is resale levy? I had a shock of my life.

Allow me to explain. In late 1999 just when shit started to hit the fan for me I had no choice but sell my flat, sold it in 2000 and I went on the run.

Now back wanted to apply for new flat was told by HDB I need to pay a resale levy. Asked what is a resale levy he explained that new flats are all subsidized so when I sold the flat and didn't pay back the subsidy of the fist flat my next subsidized flat application I need to pay back the first subsidy plus interest. For my case he told me its $184k and it has to be paid with cash only and before collecting keys.

Was shocked to know this Resale Levy thing.

Anyway the HDB guy told me he always advise people in my situation to buy resale, can borrow and also select choice units. Don't know what to do now.

First, were you born here, brought up here, went through, schools here, went through National Slavery & still serving time? Yes!..then whom did you vote for?

For goodness sake, this had been going on for ages....you can read all the information from HDB printed brochures or nowadays, search the internet or go to HDB Site...

"ignorance use to be bliss"...but IGNORANCE on this matter..is no EXCUSE!. Don't you know you are dealing with a sneaky developer & a sneaky landlord too.....YOU OBVIOUSLY VOTED for them & continued on past FIFTY YEARS.

What to do...either you cough up the amount plus interest, plus what you have used you CPF PLUS INTEREST, back to your CPF ACCOUNT & to HBD....go buy a tent..live off East Coast Park...now, there is a new place...go CONEY ISLAND.

 

[shittypore]

PAP does not believe that u shld make $$$$$ selling ur Pigeon Hole. Nicely put, it was subsidized price that they sold to you. 70% draft Sinkies support PAP who screw em at the end of the day. I say, no policies thats in place today benefits any Sinkies, they were written and enforced to benefit only the FAMILEE. Sinkies shld be asking, CPF, Medisafe and NS, who does it benefit?

 

[johnny333]

Now you know who not to vote for

 

[ginfreely]

Does anyone know what is resale levy? I had a shock of my life.

Allow me to explain. In late 1999 just when shit started to hit the fan for me I had no choice but sell my flat, sold it in 2000 and I went on the run.

Now back wanted to apply for new flat was told by HDB I need to pay a resale levy. Asked what is a resale levy he explained that new flats are all subsidized so when I sold the flat and didn't pay back the subsidy of the fist flat my next subsidized flat application I need to pay back the first subsidy plus interest. For my case he told me its $184k and it has to be paid with cash only and before collecting keys.

Was shocked to know this Resale Levy thing.

Anyway the HDB guy told me he always advise people in my situation to buy resale, can borrow and also select choice units. Don't know what to do now.

What kind of profit he made to attract so high levy of $184k?

 

[frenchbriefs]

What kind of profit he made to attract so high levy of $184k?

Interest is a sonofabitch.

 

[Fugitive]

First, were you born here, brought up here, went through, schools here, went through National Slavery & still serving time? Yes!..then whom did you vote for?

For goodness sake, this had been going on for ages....you can read all the information from HDB printed brochures or nowadays, search the internet or go to HDB Site...

"ignorance use to be bliss"...but IGNORANCE on this matter..is no EXCUSE!. Don't you know you are dealing with a sneaky developer & a sneaky landlord too.....YOU OBVIOUSLY VOTED for them & continued on past FIFTY YEARS.

What to do...either you cough up the amount plus interest, plus what you have used you CPF PLUS INTEREST, back to your CPF ACCOUNT & to HBD....go buy a tent..live off East Coast Park...now, there is a new place...go CONEY ISLAND.

Yes I was ignorant about this matter. Call me stupid I don't care. Posted this thread to share with people who may not know about this people like me.

 

[Fugitive]

Now you know who not to vote for

Why people here assumed I voted for PAP?

 

[Fugitive]

What kind of profit he made to attract so high levy of $184k?

It wasn't profit I say again its subsidy seriously, does anyone know how much his or her flat is being subsidized. Alright the HDB guy told me the interest is 5% per year for calculation purpose.

 

[halsey02]

Yes I was ignorant about this matter. Call me stupid I don't care. Posted this thread to share with people who may not know about this people like me.

Oh, you so poor thing!..don'y you know everything is PAP here?...you want to make money out of them, think twice....they will bleed every cent from you, as long as it concerns money.....if you have CPF IT IS yOUR MONEY ( theirs).....even the air you breathe & the water you drink is theirs...they have laws to prevent you from collecting rain water & generating electricity too..

You do not need to vote for them.....just pay quietly....

 

[Buckethead]

There are 2 type of resale levy, first one is the one TS mentioned, the second is fixed levy depend on flat type. All depend which year you bought your first subsidized flat.

 

[Faker]

subsidized flat is relative resale flat, still overpriced.

 

[jw5]

Why people here assumed I voted for PAP?

I don't think his post was meant for you, it was meant for Everybody.

 

[ginfreely]

It wasn't profit I say again its subsidy seriously, does anyone know how much his or her flat is being subsidized. Alright the HDB guy told me the interest is 5% per year for calculation purpose.

That's terrible, what if your profit not so much? Still must pay so high subsidy compounded?

 

[ginfreely]

Interest is a sonofabitch.

5% sounds like normal loan rate.

 

[johnny333]

Why people here assumed I voted for PAP?

70% chance you voted for the PAP

 

[lifeafter41]

Why people here assumed I voted for PAP?

My thought is it does not matter who you vote for previously or the last GE.

The question is either you pay up the 184k to be eligible to buy a new flat, which cost now at least 250k, or you go and buy a resale flat that cost 400k or rent a flat.

Anyway, where did you run to for the last 16 years..........

 

[Narong Wongwan]

Buying hdb with all the rules and fees machiam taking taxi at different timings.
You need to have double first math degree like our esteemed pm.
You voted for this shit so stfu

 

[Force 136]

Letter to the press on resale levy : http://www.straitstimes.com/forum/letters-on-the-web/review-hdb-resale-levy-policy

 

[Force 136]

Resale Levy Calculator :

http://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/additional-information

For EC puchase:

http://www.the-vales.com.sg/resale-levy-calculator/