Irrefutable proof that you are merely renting from HDB, you never ever own a flat!

[glockman]

Then why are we paying the property tax as a lessee, not a owner?

The rules of the game are set by the game masters. So when one plays, one needs to abide by them.

 

[True Believer]

It's a Open-Secret ... but still can "sell/buy" the lease among the people

Housing Board flats, which are subsidised by the Govt, are community properties sold under lease agreements that contain an assortment of rights that fall short of full ownership. This legal void leaves residents of HDB units with a great deal of limitations over their rights. Public flat dwellers are likely to have their homes confiscated if they fail to comply with the restrictive terms and conditions.

 

[True Believer]

The rules of the game are set by the game masters. So when one plays, one needs to abide by them.

The fundamental differences between a condo and a HDB flat are neither academic nor insignificant. Since buyers of HDB units have only purchased a 99-year lease, they have no share of the land where their blocks stand on and no strata title.

 

[True Believer]

Not only pay property tax…lessee also have to pay for any upgrade done to the property.

Unlike owners of leasehold condos, HDB dwellers are not permitted to use even their fully paid-up flats as collateral to banks, to raise credit facilities for private loans. HDB also refers to flat owners as tenants, and those who rent from the owners as sub-tenants.

 

[True Believer]

And sinkies rather pay $200k for a car on 10 year lease. Duh?

The reality is that in S'pore, 80% of citizens own nothing.

 

[True Believer]

The difference between those who own freehold land in S'pore, and those who only hold leases.