Serious It's Official! Sinkies Own Their HDB Flat! Oppies, Pls Stop Spreading Lies That HDB Is A Long-term Tenancy!

[knowwhatyouwantinlife]

Lawless comments were taken out of context last year and it was made at a very wrong time when the enbloc fever was just starting..he actually said what he said because there were too many btos unsold like punggol tengah yishun..so he was implying that bto are more worth than resale cos at least you can still flip it once after five years mop..This of course scared away the more than 2500 units hudc that was enbloc and knowing this group background of mostly first and second gen mnc or civil servants, they chose to take the developers offer and bought one or two condos with the enbloc sales proceeds instead of ploughing it back into resale flats and holding cash..If 1500 units buy a resale the town council and parking fees for a 5 year mop period would be 200×12×5×1500=7.2 bil in fees lost..hence the cooling measures and pm ndr speech..imho

 

[Leongsam]

What population growth when Singaporeans are not even replacing! There is a distinct difference between transplanting talents and just simply taking in and giving away. Only a weak or scheming ruling Party does that.

If it were not for the influx of foreigners Malay Muslims would now form the majority. You should thank your lucky stars and show some gratitude towards the PAP for averting a disaster.

 

[Leongsam]

The HDB ownership concept is an excellent plan by the gahmen to use up the citizens CPF savings.

At the end of their lives....no monies will be paid out via their CPF.

That's rubbish I owned an HDB flat and when I reached 55 I withdrew more than $500,000 from my CPF account. A few years later I took out another $400,000.

CPF is a godsend. it helped me make lots of money while I was in Singapore. I would not have been able to retire early without my CPF.

 

[bobby]

That's rubbish I owned an HDB flat and when I reached 55 I withdrew more than $500,000 from my CPF account. A few years later I took out another $400,000.

CPF is a godsend. it helped me make lots of money while I was in Singapore. I would not have been able to retire early without my CPF.

You are the exception to the norm.

If you can withdraw $500K from your CPF @ 55 yo, how much were you earning per month then and since when? You represent a good portion of the citizens?

 

[Leongsam]

There you have it - the HDB flat WILL be worthless, ZERO value, after the end of 99 years. So the cheating LEEders should not be LYING to the people "Your flat WILL APPRECIATE'. Singaporeans will appreciate the true value - our LEADERs.

Your flat will appreciate the government is absolutely correct. However they have never claimed that it will appreciate FOREVER. Nothing is eternal unless you believe in the afterlife.

My HDB flat appreciated. All my friends and colleagues made money from selling their flats.

Surely you don't expect the government to spoonfeed you through every decision you make in life. All Singaporeans need to do their sums and cash out at the right time. The same applies to everything in life. If you own a business you need to decide when to go public and when to sell your stake. If you own shares you need to decide when to take profit. If you get married you need to bail out before she becomes old, wrinkly and grumpy and get a new model.

 

[Leongsam]

You are the exception to the norm.

If you can withdraw $500K from your CPF @ 55 yo, how much were you earning per month then and since when? You represent a good portion of the citizens?

I am no exception I simply made use of the opportunities that the PAP created for me. If others did not it is their own fault not the PAP's fault.

 

[bobby]

I am no exception I simply made use of the opportunities that the PAP created for me. If others did not it is their own fault not the PAP's fault.

My point was to highlight the scheme in CPF which will tie up the monies and make it a net position whereby you are forever stuck to the HDB price hike.

You had a choice as an emigrant to cash out. The other 99% are stuck in CPF vicious cycle and will not be able to see their monies in their lifetime.

 

[Leongsam]

My point was to highlight the scheme in CPF which will tie up the monies and make it a net position whereby you are forever stuck to the HDB price hike.

You had a choice as an emigrant to cash out. The other 99% are stuck in CPF vicious cycle and will not be able to see their monies in their lifetime.

I started off using CPF to buy my HDB flat. I cashed out after 5 years and returned what I owed to CPF and that left me with some cash to invest.

I used that cash as down payment for a condo unit and then used my monthly CPF contributions to pay the loan so my take home pay was not affected at all.

CPF enabled me to have my cake and eat it too. It is a fantastic scheme. I love it.

 

[Leongsam]

Leongsam said : I'm not a lawyer but I can tell you that your definition of "asset" is not accurate.


(a)it is probable that the future economic benefits embodied in the asset will eventuate; and
(b)the asset possess a cost or other value that can be measured reliably.

With the above definition of an asset,I will conclude that the HDB flat is NOT an asset but just a rental flat.

Based on the definition above I conclude that an HDB flat IS an asset because I speak from own personal experience in gaining from the sale of my HDB flat and all HDB flats meet criteria (b).

If I had been renting the flat I would not have been able to sell it and I would not have been allowed to renovate it to the extent that I did when I moved in.

 

[glockman]

I started off using CPF to buy my HDB flat. I cashed out after 5 years and returned what I owed to CPF and that left me with some cash to invest.

I used that cash as down payment for a condo unit and then used my monthly CPF contributions to pay the loan so my take home pay was not affected at all.

CPF enabled me to have my cake and eat it too. It is a fantastic scheme. I love it.

HDB flat prices were much lower then. Most of that generation who bought direct from HDB made money and upgraded. That was about 25-30 years ago. But in recent times, most salaries have been stagnant while HDB flat prices have shot up. A HDB purchase will siphon off most of CPF contributions for the common man. And if any profits were made from selling a HDB flat (after repaying the amount owed to CPF), it is very marginal. And if one had bought an HDB flat from the resale market, good luck!

You did well and your CPF monies accumulated, congrats to you. There were no compulsory fancy CPF medical insurance schemes to suck up your contributions and no hefty HDB deductions. Hence I can understand your fondness for the CPF scheme. Most do not share your sentiments.

 

[Robert Half]

I have a few friends own 99 years leasehold private condominium.

In term of lease, no different from HDB 99 years.

 

[Kopi0Kosong]

If it were not for the influx of foreigners Malay Muslims would now form the majority. You should thank your lucky stars and show some gratitude towards the PAP for averting a disaster.

It was a selfish, self-serving scheme to ensure preservation of Party dominance. To me and many other Singaporeans, It doesn't matter whatever race is dominant or in power as long as the leaders are doing it with sincerity and competence for the people and country. Your so called 'disaster' is just a non-existent fear subtly propagated by the U-NO-WHO. It is self-serving manipulating and never for the people.

because

 

[Kopi0Kosong]

Is that the reason why they are also known as LEEches?

 

[Kopi0Kosong]

Your flat will appreciate the government is absolutely correct. However they have never claimed that it will appreciate FOREVER. Nothing is eternal unless you believe in the afterlife.

My HDB flat appreciated. All my friends and colleagues made money from selling their flats.

Surely you don't expect the government to spoonfeed you through every decision you make in life. All Singaporeans need to do their sums and cash out at the right time. The same applies to everything in life. If you own a business you need to decide when to go public and when to sell your stake. If you own shares you need to decide when to take profit. If you get married you need to bail out before she becomes old, wrinkly and grumpy and get a new model.

Which entity or product has made a definitive proclamation that IT WILL APPRECIATE? Manipulating and staging to fit and fix escalating to present day bubbles. WHY???

 

[winnipegjets]

Wong said that 50-year old HDB flat with a 99-year flat will appreciate ...how many sinkees believe him?

Where are the NUS economists? They don't dare to write about this coz it will make the minister look so stupid.

 

[zhihau]

Staged to fit and fix. Where is the new house? Anyone noticed the special activities in Katong area? How much taxpayer's money has gone into it?
Wayang sayang!!!!

be more specific, it's at Bournemouth Road

 

[Kopi0Kosong]

Property appreciation is not just about HDB or PAP. Since SAM shared his experiences, allow me to share mine for fellow Singaporeans to compare and contract.
As a child, I lived in a old attar house in Nee Soon-Sembawang area. My father, who was always first of his school cohort, had to stop schooling after end of Primary four. My birth was in the attar house and not at KK. We were very poor then and meals were people's leftover that my father brought back home every day. At times, it was the outer skin of tapioca roots. Even eaten noodles with black ants? Day and night, my father worked hard in a rubber and sago factories. We persevere and things started to get better when my mother started a provision shop at home. School was always within walking distance. across a river and clayey m&d paths. There was P, O, A and U.
Two years upon working, I bought a property for slightly more than $400k with an upfront 20% payment of about $80K. I sold off the property for about $1.7 million NETT after living in it for 10 years. With the money, I bought two.
What HDB and PAP? I have been penalised for staying with my big extended family. Seriously, the only PAP I can remember was my father having to hide from them days before a general election. PAP or no PAP, life in this country would still be the same. Let not ONE person steal all the credit. Singapore is where it is today because of its people, the past and present. Everyone, including the first generation leaders, contributed.

 

[winnipegjets]

If it were not for the influx of foreigners Malay Muslims would now form the majority. You should thank your lucky stars and show some gratitude towards the PAP for averting a disaster.

Are Ah Nehs better than Sinkee Malays? I think not. Most sinkee Malays are open and not extreme in their beliefs. Ah Nehs want to take over sinkapore and treat sinkees like untouchables.

 

[Kopi0Kosong]

be more specific, it's at Bournemouth Road

Is that the place where the soccer players ply their trade in the EPL?

 

[zhihau]

Is that the place where the soccer players ply their trade in the EPL?

No, no, no... only poor lonely Gurkhas guarding the gates. Are Gurkhas good goalies?