PR quota hit in some areas

[MarrickG]

PERMANENT residents looking to buy an HDB flat may have to widen their search beyond popular areas as some parts of the island have already reached the limits set out in the new quota system.

PRs will not be able to buy flats in certain areas in Jurong West, Choa Chu Kang, Sembawang, Sengkang or Bukit Batok unless they are prepared to pay a premium over the asking price in the hope of enticing other PRs to sell.

The areas have long been popular with PRs but some neighbourhoods and blocks are at the limit outlined by the Singapore Permanent Resident (SPR) quota introduced earlier this month.

It sets a cap for PR households of 8 per cent in each block and 5 per cent within each neighbourhood to prevent enclaves of foreigners forming in the heartlands.

The HDB's website showed that certain addresses in these areas have reached their PR quota. The addresses include Admiralty Drive and Canberra Road in Sembawang, Anchorvale Link in Sengkang, Choa Chu Kang Avenue 5, Bukit Batok East Avenue 3, Woodlands Avenue 6 and Jurong West Central 1.

A non-Malaysian PR, for example, is eligible to buy a flat from any seller in Clementi Avenue 6. But he can buy only from a fellow non-Malaysian PR at Bukit Batok East Avenue 3 because the quota for the proportion of non-Malaysian PRs in that area has already been reached.

Read the full story in Wednesday's edition of The Straits Times.

 

[rodent2005]

Okay, PR quotas are hit and PRs need to pay premium to get a flat, but PAP says PRs do not drive up HDB prices. How to reconcile the 2?

 

[johnny333]

Ehh non-citizens getting "subsidised" HDB housing

 

[Leongsam]

PERMANENT residents looking to buy an HDB flat may have to widen their search beyond popular areas as some parts of the island have already reached the limits set out in the new quota system.

This distortion of market forces is going to cause untold damage to the whole property market in the not too distant future.

 

[angie II]

Please don't keep rolling your eyes, u may get a headache. I have a reputation for doing that in the other forum.

 

[saratogas]

So these areas HDB price will drop because no rich PRs can buy those flat. Admiralty Drive and Canberra Road in Sembawang, Anchorvale Link in Sengkang, Choa Chu Kang Avenue 5, Bukit Batok East Avenue 3, Woodlands Avenue 6 and Jurong West Central 1. I feel that Sinkaporeans staying in those areas will be meeting their MPs soon.

 

[ahleebabasingaporethief]

This distortion of market forces is going to cause untold damage to the whole property market in the not too distant future.

Let it happen. It's already starting to happen.

What the SCUMS do not know is these FTs are not docile people like 66.6%.

If lose money, these FTs will TAKE TO THE STREETs; or at least to HDB to complain by the hundreds or is it TENS OF THOUSANDS by the last count of FTs buying HDB.

JUST WAIT AND SEE.

No one likes to be taken for a ride. It's just that Singaporeans are BALLESS.

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[HellAngel]

Many had anticipated the property market to crash soon.

 

[cheekenpie]

Does anyone know if the PR quota overlaps with the racial quota?

 

[HellAngel]

The racial quota is stupid as the law allows one to change his race if one does a deed poll thru his lawyer. I got a friend who managed to change his race so that his kids could get better benefits.

 

[zuoom]

hmm. it's only for people who's buying the place right?

does it applies to rent?

 

[longbow]

If the store keepers had brains they would demand for a small corner selling pork. After all Chinese do not mind halal chicken. With just that little store it could very well bring more Chinese housewives to the market since they can now do 1 stop shop. To be fair put the store in a corner for religious sensitivity

 

[Watchman]

If nobody like me said that some HDB blocks there are like 15-20 FTs in block .

Nobody will have done anything about it .

 

[BuiKia]

I dun think it would affect the rental but since you mention it, maybe the IB would report this to their dog master to review the policy.

hmm. it's only for people who's buying the place right?

does it applies to rent?

 

[BuiKia]

Bro,

We talk about HDB here what does it got to do with pork and market?:p

If the store keepers had brains they would demand for a small corner selling pork. After all Chinese do not mind halal chicken. With just that little store it could very well bring more Chinese housewives to the market since they can now do 1 stop shop. To be fair put the store in a corner for religious sensitivity

 

[bryanlim1972]

This distortion of market forces is going to cause untold damage to the whole property market in the not too distant future.

how? enlighten pls

 

[Leongsam]

how? enlighten pls

It'll create a two tier market where HDB apartments owned by PRs could well become more valuable than those owned by Singaporeans.

Market distortions are never good for the overall health of any sector.

 

[myfoot123]

Okay, PR quotas are hit and PRs need to pay premium to get a flat, but PAP says PRs do not drive up HDB prices. How to reconcile the 2?

It can't be reconciled. The whole PAP statistics are craps!!! It can be fabricated, fixed and tabled to look good and sound. When put into practice, the whole shits came out and you know PAP cannot be trusted and relied upon to provide factual and objective informations. The whole 5 decades of wayang has been so, and future wayang must be stopped. Singaporeans have had enough!