New changes to property purchase rules affect foreign properties too

[Balls2U]

My question is how the fark are they gonna monitor any purchase of foreign properties by Sinkies? If I have properties elsewhere and I choose to keep quiet about it, how the fark is Mah-pukie and his cronies goona know if I in the meantime go and upgrade to a bigger flat? :oIo:

 

[garlic]

MY malaysian PR colleague who is buying a HDB resale soon says " 不要骗啦，pap是神meh?哪里有可能知道。。。tiao他都没有空", which translates into "Dont bluff lah, PAP think they are god ah? How is it possible for them to know?.. Fark them also not free"...lol

What he says makes sense.. dont think Mudland officials will willingly release any info just coz PAP demands them...

 

[ChaoPappyPoodle]

The PAP only talk now as though they just found out about the abuse of public housing in Singapore. because of erection. Otherwise even the dead and the undead know about the PAPies' minions cheating the system for over 30 years!

When a policy is put into place, it has to be based on principles and goals.

The goals of the PApies are very much different from the majority of the people. And that is why the PAPies can never come up with policies that truly help the majority of the people in Singapore. Their goals are different. Their principles are based on maximizing profit. The principles of Singaporeans are to work for a decent and good life.

The PAPies always talk about Singapore being land scarce but yet they allow Foreigners to buy multiple properties in Singapore. Even rich locals in Singapore are allowed to buy up multiple units of private properties.

If land is scarce, should it be set aside for Singaporeans. If land is scarce in Singapore, shouldn't it be such that no one person should own more than a single property?

If Singaporeans want to make a profit from properties then head overseas. Other countries with much better land resources will allow you. But why is land scarce Singapore allowing such rampant abuse of our natural and scarce resource even by foreigners?

 

[silverfox@]

Whether HDB or the govt knows whether the applicant has properties overseas, this ruling must be thought of by an Idiot.

If a Singaporean goes overseas to work and buys a property overseas for own stay, when he comes back to Singapore (eg 2 months for a year), do they expect him to stay in a hotel?

Another scenario.
PRs before coming Singapore have a property in their country. They let their parents stay and when they come Singapore to work, they want to buy a HDB resale flat but they have to sell their overseas property. Where are their parents going to stay?

So as to say, if you are a HDB owner, you are not allowed to invest in other properties. To say not buying local properties, this one I agree, but not even investing in overseas properties, It just shows that if you are a HDB owner, you are not allowed to be rich. Once you are a HDB owner, you are not allowed to dabble in property as a form of investment.

The rich will get richer, the poor will have their chances limited in getting rich.

 

[SQguy]

Good luck to this government trying to find chinaman or Indian owning property but risk is if you are caught then they can confiscate your property here.

 

[garlic]

How are they going to enforce PRs here to sell their properties in their country is a mystery..

 

[longbow]

I find this rule strange. How does it prevent abuse of HDB resale or high COV?? Actually if they forced FT to sell foreign property, this FT would have even more $$ to bid up the COV.

Instead they should just say, if you own resale HDB then NO buying of pte prop in Singapore for 5 years. What you do with your money overseas is none of Singapore's business.

Singapore is trying to attract the rich US or EU to park their money in Singapore. They are hoping that these overseas Gov do not pry into the affairs of these rich people. And here we are trying to prying into affairs of HDB owners.

 

[allanlee]

My question is how the fark are they gonna monitor any purchase of foreign properties by Sinkies? If I have properties elsewhere and I choose to keep quiet about it, how the fark is Mah-pukie and his cronies goona know if I in the meantime go and upgrade to a bigger flat? :oIo:

This is just a wayang ruling to con the peasants........ They do not intend to enforce it...... From my understanding of the procedures involved for these type of offences..... at most they will ask the offender to "comply" with the ruling by disposing off either the pte property or the HDB pigeonhole..... and they are given 6 months grace period to do it....... no mention of what further action will be taken after that 6 months is up.

 

[kitkat]

Maybe they will check on large overseas money transfer to find out?

 

[IR123]

How are they going to enforce PRs here to sell their properties in their country is a mystery..

PRs and foreign Singaporeans will probably be exempted.

 

[loudhailer]

MY malaysian PR colleague who is buying a HDB resale soon says " 不要骗啦，pap是神meh?哪里有可能知道。。。tiao他都没有空", which translates into "Dont bluff lah, PAP think they are god ah? How is it possible for them to know?.. Fark them also not free"...lol

What he says makes sense.. dont think Mudland officials will willingly release any info just coz PAP demands them...

Property ownership information in Malaysia is public. All you need is for your friend to have an enemy to tip off the HDB and he will be surrendering his $400k HDB flat for $150k.

 

[peterlth]

Agree. Whoever that made this policy is really dumb. Most PRs will go back to their country of original eventually. Then how? Sold their property away already, go back live where? The HDB expects the PRs to sell his HDB flat in the morning, fly back to their home country in the afternoon, buy a new property in the evening, and move in immediately.

I think HDB also stuck lah. Imaging if HDB says this new rule of having to sell private property after buying HDB do not apply to foreigners and PRs. What will be the result? All Singaporeans will curse and swear, and confirm that the government is really pro foreigners and Singaporeans DO NOT come first.

So HDB got no choice but to say it applies to foreigners too, and swallow its stupidity. There is not perfect policy, so HDB just have to live with this dumb ruling rather than having the Singaporeans punishing them in the next election.

Whether HDB or the govt knows whether the applicant has properties overseas, this ruling must be thought of by an Idiot.

If a Singaporean goes overseas to work and buys a property overseas for own stay, when he comes back to Singapore (eg 2 months for a year), do they expect him to stay in a hotel?

Another scenario.
PRs before coming Singapore have a property in their country. They let their parents stay and when they come Singapore to work, they want to buy a HDB resale flat but they have to sell their overseas property. Where are their parents going to stay?

So as to say, if you are a HDB owner, you are not allowed to invest in other properties. To say not buying local properties, this one I agree, but not even investing in overseas properties, It just shows that if you are a HDB owner, you are not allowed to be rich. Once you are a HDB owner, you are not allowed to dabble in property as a form of investment.

The rich will get richer, the poor will have their chances limited in getting rich.

 

[peterlth]

Property ownership information in Malaysia is public. All you need is for your friend to have an enemy to tip off the HDB and he will be surrendering his $400k HDB flat for $150k.

China, India leh? Got such proprty ownership information or not? How HDB check?

 

[athurart09]

Whether HDB or the govt knows whether the applicant has properties overseas, this ruling must be thought of by an Idiot.

If a Singaporean goes overseas to work and buys a property overseas for own stay, when he comes back to Singapore (eg 2 months for a year), do they expect him to stay in a hotel?

Another scenario.
PRs before coming Singapore have a property in their country. They let their parents stay and when they come Singapore to work, they want to buy a HDB resale flat but they have to sell their overseas property. Where are their parents going to stay?

So as to say, if you are a HDB owner, you are not allowed to invest in other properties. To say not buying local properties, this one I agree, but not even investing in overseas properties, It just shows that if you are a HDB owner, you are not allowed to be rich. Once you are a HDB owner, you are not allowed to dabble in property as a form of investment.

The rich will get richer, the poor will have their chances limited in getting rich.

Thank you, this is good news for new visitors.

 

[eatshitndie]

My question is how the fark are they gonna monitor any purchase of foreign properties by Sinkies? If I have properties elsewhere and I choose to keep quiet about it, how the fark is Mah-pukie and his cronies goona know if I in the meantime go and upgrade to a bigger flat? :oIo:

they can find out juicy details from postings in sbf here, in the johor thread and emigration folder. sbf has been a wealth of insider info for them.

 

[loudhailer]

China, India leh? Got such proprty ownership information or not? How HDB check?

Tipoffs from greeneyed monsters.

 

[UpYoz_olo]

China, India leh? Got such proprty ownership information or not? How HDB check?

TRY and see lah. Challenge HDB and see lah. Penalties are out in ST today. I'm waiting with glee to see some people challenging HDB and Sg law by doing the opposite.

I'm sure HDB will be eager to demonstrste to LHL that people are cheating, esp farking Malaysians, mainland Chinese and Indians. Just like traffic tickets, the quotas will be met I'm sure

Will the challengers step forward.

Otherwise, be a good boy and follow rules!


:oIo::oIo::oIo::oIo:

 

[pc2009]

My friend in HDB told me that "land is scarce" is their marketing ploy to justify higher price. We do not have plenty of land but not that bad as to always citing "land is scarce" to scare people.

This rule is just for show, not to enforce. Just to cool the anti-FT-policy sentiment. (Not anti-FT).