Mah: SG citizens will always get more then PRs...

[kojakbt]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wintiny noWrap align=right>18147.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>>> Mr Mah assured Singaporeans that there will always be a distinction made between citizens and permanent residents (PRs). 'For example, in public housing, if you are a citizen, you will enjoy many benefits which the PR does not get. And we will continue to strengthen those distinctions and to make them very clear,' he said.

Let's look at facts, new HDB S'poreans can buy:

New Punggol HDB flats currently being offered by HDB:

Typical Applicants' Median
Selling Household Income
Price
4 room $295K $4100
5 room $375K $5100

For household income of $4100, the 1st time buyer will enjoy an addition $10K grant. Grants are not applicable for household income above $5000.

Hence, typical new HDBs at Punggol for 1st time Avg Singaporean owners:

4 room $285K
5 room $375K

([URL="http://www100.hdb.gov.sg/09JULBTOPG_pdf/$file/Punggol_Residences_General_Info.pdf"]http://www100.hdb.gov.sg/09JULBTOPG_pdf/$file/Punggol_Residences_General_Info.pdf[/URL])

Let's look at HDB resales which PRs can buy:

Actual May 09 HDB Resale transactions at Punggol:

4 room, avg of the 10 transactions = $334.4K
5 room, avg of the 18 transactions = $392.1K


(<A href="http://www.scribd.com/doc/15509668/HDB-Resale-Transactions-May-09" target=_blank>http://www.scribd.com/doc/15509668/HDB-Resale-Transactions-May-09)

Conclusions:

At punggol, on average, 1st time Singaporean HDB buyer will pay less than that for PR buying HDB resale:

4 room: $285K vs $334.4K,
saving $49.4K or 14.8% Discount

5 room: $375K vs $392.1K,
saving $17.1K or 4.2% Discount


My Singaporean bros, do you want to get 14.8% discount for a 4 room or (worse) 4.2% discount for a 5 room but in return, you have to serve 2 years NS and 20 years of reservist?



</TD></TR></TBODY></TABLE>

 

[littlefish]

Factor in inflation of 3% per annum and the discount drops to around 10%. That is not counting the opportunity costs of earning money earlier and putting the earnings to work for you. Puts all your sacrifices into perspective, doesn't it?

Maybe they should just have a clearcut scheme, serve NS, get 10% discount on HDB flats, serve NS+reservist, get 20% discount on HDB flats. It is like they are offering you future discount vouchers on their products. If you decide not to buy from them later, sorry, you cannot convert the vouchers into cash even if you need the cash just to survive.

No, that is not all. The biggest irony (I can't bring myself to say joke because I can't even laugh at it) is that you don't even own the HDB flat and they are kind enough to lend you money so that you can work your ass off to pay them interest. I guess it would be too much to ask them to at least provide interest free loans to NSmen. No, we would all be much better off if the money is safely invested in companies like Merrill Lynch, Barclays, ABC Learning, Shin Corp, etc.

Count on me, Singapore. Yeah, right.

 

[chinkangkor]

Sg is one of the lousiest place when it comes to citizens' rights and privileges as compared to PRs. For guys, it's worse as they have to serve 2.5 years of NS slavery for a mere hundreds of dollars each month.

All these issues are happily swept under the carpet for as long as possible and the high flying ministers just couldn't see the logic that all citizens can. They just happily continue to collect their million dollars salaries while letting these divisive issues fester ...

 

[Hope]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=wintiny noWrap align=right>18147.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>>> Mr Mah assured Singaporeans that there will always be a distinction made between citizens and permanent residents (PRs). 'For example, in public housing, if you are a citizen, you will enjoy many benefits which the PR does not get. And we will continue to strengthen those distinctions and to make them very clear,' he said.

Let's look at facts, new HDB S'poreans can buy:

New Punggol HDB flats currently being offered by HDB:

Typical Applicants' Median
Selling Household Income
Price
4 room $295K $4100
5 room $375K $5100

For household income of $4100, the 1st time buyer will enjoy an addition $10K grant. Grants are not applicable for household income above $5000.

Hence, typical new HDBs at Punggol for 1st time Avg Singaporean owners:

4 room $285K
5 room $375K

([URL="http://www100.hdb.gov.sg/09JULBTOPG_pdf/$file/Punggol_Residences_General_Info.pdf"]http://www100.hdb.gov.sg/09JULBTOPG_pdf/$file/Punggol_Residences_General_Info.pdf[/URL])

Let's look at HDB resales which PRs can buy:

Actual May 09 HDB Resale transactions at Punggol:

4 room, avg of the 10 transactions = $334.4K
5 room, avg of the 18 transactions = $392.1K


(<A href="http://www.scribd.com/doc/15509668/HDB-Resale-Transactions-May-09" target=_blank>http://www.scribd.com/doc/15509668/HDB-Resale-Transactions-May-09)

Conclusions:

At punggol, on average, 1st time Singaporean HDB buyer will pay less than that for PR buying HDB resale:

4 room: $285K vs $334.4K,
saving $49.4K or 14.8% Discount

5 room: $375K vs $392.1K,
saving $17.1K or 4.2% Discount


My Singaporean bros, do you want to get 14.8% discount for a 4 room or (worse) 4.2% discount for a 5 room but in return, you have to serve 2 years NS and 20 years of reservist?



</TD></TR></TBODY></TABLE>

Isn't Minister Mah talking big cock here.

Ask him when did PM lee made the sold declaration that we must differentiate between citizens and P.R.s,abd by his own very logical reasoning:

OR ELSE WHO WOULD WANT TO BE A CITIZEN???

Minister Mah,that statement was made more than 10 years ago,pl as yr gal to dig out,what have PAP done?

and here,at this time,you just repeat the same bloody non-sense

Do'nt talk cock lah,Minister Mah(S$3 millin p.a.),it is beri hard to respct you leh,if you keep talking cock like this!

 

[Char_Azn]

I started another thread earlier regarding the topic of PR vs Citizen

http://www.singsupplies.com/showthread.php?t=34023

This is the official benefits between Citizen and PRs direct from ICA website
http://www.ica.gov.sg/data/resources...s_20080429.pdf

 

[halsey02]

When Housing Developmen Board, started their nation building in the early 1960's, what was their motto? " Homes for the people".

Is it still homes for the people? still?

Merdeka!....happy birthday SINgapore?

 

[Char_Azn]

When Housing Developmen Board, started their nation building in the early 1960's, what was their motto? " Homes for the people".

Is it still homes for the people? still?

Merdeka!....happy birthday SINgapore?

How HDB came about

The combination of low construction and war damage had resulted in a substantial housing shortage in the immediate post-war years. According to the 1947 British colonial government Housing Committee Report, by 1947, Singapore had one of the world’s worst slums, ‘a disgrace to a civilised community’ (p. 16). About 300,000 people were then living in temporary squalid dwellings in squatter areas with no sanitation, water or any of the basic health facilities and another 250,000 in ramshackle shophouses within the city area, in neighborhoods such as Chinatown ‘in which gross overcrowding was common’ (HDB, 1966, p30). To give just one example, as Mr. Lim Kim San, the first HDB Chairman recalled of his visit to Chinatown in the early 1960s,

I went into a three-story shophouse with one lavatory and two bathrooms. We counted 200 tenants living there. It was so dark and damp. It was an inhuman and degrading existence. Underneath the staircase was a single plank. A man was lying on the plank. He had rented it. That was his home! And he was lying down covered by a blanket; the thick red blanket made in China. I paused to ask him if he was sick: “Why are you covering yourself with a thick blanket?” He replied: “I am covering myself out of respect for you. I am wearing only undershorts. My brother is wearing my pants.” They were too poor to afford clothing. In those days, there were shops which pulled clothing and shoes off the dead to sell them. “My God,” I thought to myself, “I really must help those people.” (The Straits Times, 9 Aug 1997)

At night, many others would sleep on makeshift canvas beds placed along street pavements (Chen, 1983). Policy interventions on housing provision during the colonial administration, 1819-1959 (Singapore was granted internal self-rule in 1959 and independence in 1965) were, however, limited. Resources were largely directed to entrepot trading and the British military complex. The housing problem was regarded as something of a transitory phenomenon that would disappear as the economy grew. Such an attitude was convenient as it provided the basis for taking little or no action on housing. In effect, the outcome was housing stress and the cumulative need for improvements was immense: in 1959, the total number of dwellings completed by both public and private agencies was 4003 when 14,000 new units were needed as summarized in Table 2.

Of the 14,000 new homes a year, the private sector had the capacity to provide some 2,500 new homes a year. Many of those dwellings would however be at price levels beyond the means of the lower income households. In the absence of alternatives, the burden of the remaining housing requirements including shelter for the poor must fall on the government. The challenge was taken up by the newly elected self-government, which had won the election on a manifesto of providing employment and housing (and has been re-elected to power ever since). Unlike many other Third World governments, which have tended to act on housing as a social problem to be addressed after the achievement of economic progress, Singapore considered the two as of equal and symbiotic importance. Two statutory agencies, the Economic Development Board (EDB) and HDB were immediately set up with reformed financial, legal, and institutional framework to promote the supply of economic growth-employment and housing respectively at the start of self-governance. The complementary between employment and housing has been extensively argued elsewhere to be an important factor in the government’s continued political performance and legitimacy (see, for example, Chua, 1997; Ho, 2000).

http://www.globalurban.org/GUDMag07Vol3Iss1/Yuen.htm

Somewhere along the way, some of the higher immortals taking over didnt study their history

 

[Eurekas]

Now HDB is a tool to boosts the national reserves, a 40room flat that cost $75000 to build a unit now sells for $350,000 even with the so called market subsidy (actually its just a discount from the open market selling price). So of course this makes GIC and Temasick have plenty of money to punt on American and Swiss banks.

 

[saratogas]

No amount of "compensation" is enough for the 2 an a half years spent in NS. They took away my Prime years.

 

[tonychat]

HIstory makes no sense when the current ways of doing things is to screw up everyone when buying homes. Last time there is no such thing as wipe out all cpf when you purchase a home, or so called home.

With incompetence rising year after year, the govt just shows it by doing that.

 

[angry_one]

Which other govt in the world lets non citizens buy their subsidized flats which are supposed to be for citizens?? The housing market did not correct because 1/2 of resale buyers are PRs, thereby propping up prices!

 

[Einfield]

Hornarable Mr Mah, you are an idiot!

The fact that PR can buy our HDB, only create an artificial demand that props up the price, but this is good for your master because you always up your new flat price too base on "Market Rates"

China is facing a housing shortage and there are no lack of middle income people there, in which you open your legs wide to welcome them, BTW PR is cheap here, Citizen is worse.

With the influx, our lower income citizen now can off load their HDB to these PR and enjoy the profit, Long live PAP!!

But not so fast, these group of people do not have much financial planning knowledge and most likely their gains will be wiped out by Lehmann brother's type structured investment, con by PRC or African con man or spend it on China Meimie in Geylang.

Then we will see lot's of oldman, sleeping in parks, void deck and jump MRT tracks.

But of course, that got nothing to do with our Honarable Mr Mah,
if you have not notice, their policy is very consistant in building up mordern day Singapore, it call "You die your business"

 

[cooleo]

Maybe he meant more Ant Ass!

 

[singveld]

what a fxxk type deal
only pap can think of such rubbish.

but they do give you some money if you promise not to sell in less than 5 years.

 

[mscitw]

Assuming a peasant takes home $1500 and for 24 months of serfship,
that is $33000 which is simply e silly housing grant!

Peasants are idiots.

 

[coolguy]

Aiyah, give and take lah. Why your sinkie so calculative one.
See. I give your more discount than the FTs liao your still not happy.
What you want me to do? You want me to sell your 3-room flat 50K, 4-room 70K and 5-room 100k meh. Like that how my bank earn interest? Chey.

 

[chinkangkor]

With the influx, our lower income citizen now can off load their HDB to these PR and enjoy the profit, Long live PAP!!

Sell your HDB and you still need to buy another one. Sell high and buy high again. What for when your life savings are all wiped out by HDB.

It is good for those wanting to upgrade to condos or downgrade to smaller flats. For first time home buyers now, when you buy after the asset inflation, you may end up losing a substantial portion of your life savings on your pigeon holes 20 years later. By then, all the million dollars ministers will have retired and problem of not having enough savings for retirement will still be left there, unresolved.

 

[Watchman]

Death is a business. Bury as many you can in a day to make bank.

There are all sorts of laws and regulations that force us into seeking out and complying with the death businesses.

It's all a scam. You cant be born at home any more without all sorts of ridiculous fees, fines and checks and you cant die at home without all sorts of fees fines and checks.

I'm hoping to die way off the radar so my family can plot my body as we see fit. None of this government supported death business crap.

It's bad enough the gov has to come in and jam its hands into my burial pants for the wallet but they also legislate I shell out a little to some businessman on my way down the river Styx.

F'em.

 

[longbow]

Also remember that new flat comes with restriction to sell and to rent out.

Valution of property often contain element of rental returns. In this case for the first 5 years you do not have this return. On top of that you cannot sell. I assume that if you need to sell in a hurry within the first 5 years, you will not get market value.

 

[woofy]

to put it straight, you are worth 4.2% more than a foreigner.