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Project 2016: Vote out Lee Hsien Loong (SBF)

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[TD="class: contentheading"]HDB Title Deed[/TD]
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[TD="colspan: 2"]Written by Wilfred Ling [/TD]
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[TD="class: createdate, colspan: 2"]Friday, 25 December 2009[/TD]
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I was shown a Land Title Deed of a 5 room HDB flat. I was shocked to see that the “owner” of the flat is merely taking out a lease. The Title Deed clearly shows that the owner is not an “owner” of the flat. The Title Deed is given to the owner when all mortgages are paid. However, what is written in the title deed is a reminder that HDB owners do not really own their flat. The Title Deed shows that it is a lease probably because the property is a 99 years leasehold or perhaps HDB flats are tightly regulated government properties. Likely it is due to these two reasons.
So should we rent instead of “buying” a HDB flat since the latter does not make us owners even if all mortgages are paid up? Well, for a 5 room flat it is not too difficult to rent the entire flat for $2000 per month. Assuming a time horizon of 30 years and that the discount rate is the same as inflation, the present value of this rental is the 2000 x 12 x 30 = $720,000! It is possible to buy a 5 room flat at a much cheaper price than this. Thus, “buying” a 5 room flat is still more worth it.
But I still cannot swallow the hard fact that “owners” of HDB flat do not own the flat!
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[TD]Lion Investor[/TD]
[TD] |220.255.7.242 |2009-12-25 22:24:04[/TD]
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[TD]Ownership is just a myth as most properties in Singapore is just a 99-year lease.

30 years down the road, you might start to see prices of old property depreciate.[/TD]
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[TD]Ex-Con[/TD]
[TD] |220.255.7.186 |2009-12-26 03:56:55[/TD]
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[TD]Legally, in the Deed we are the "Lessees" since we are merely leasing the property for 99 yrs. The official Owner is the HDB.

That's the difference between public housing and private housing. HDB purchasers do not have strata title rights. I verified this with the hesitating HDB officer on the very day I collected the keys to the flat.

On a cost-benefit basis, it is still more beneficial to buy than rent HDB flats. In fact, the benefit gap for buying 4-rm is greater since there is not much difference in the rental between 4-rm and 5-rm.[/TD]
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Next time you hear someone talking about his/her house which is a HDB flat, just fuck them up and tell them that they are just a tenant paying market rental rates with interest and on top of that paying property tax annually. :oIo: Especially those 60.1% daft moronic dumbass. :kma:
 
And probably encumbered with a humongous housing loan relative to their income to boot. :eek:

LEGEND said:
Next time you hear someone talking about his/her house which is a HDB flat, just fuck them up and tell them that they are just a tenant paying market rental rates with interest and on top of that paying property tax annually. :oIo: Especially those 60.1% daft moronic dumbass. :kma:
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jw5 said:
And probably encumbered with a humongous housing loan relative to their income to boot. :eek:
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"Nobody forces you to buy right" this was one bloody superficial IB quoted yesterday.:D
 
Muthukali said:
"Nobody forces you to buy right" this was one bloody superficial IB quoted yesterday.:D
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He is not official IB lah, just a grateful gongkia who badly wants an invitation to the tea party. :D
 
Surprise that there are so many PAP chee bye kias trying to put poison into the ordinary Sinkee peasants minds. This not forgivable.

Have to hunt this mother fuckers down. When pappies no power liaoz, will be pay back time for these chee bye kias.
 
maybe we should learn from the Taiwanese. the 40% should storm and occupy Parliament and demand Pinky faces us directly and explains his trashy policies to us. :D
 
maybe we should learn from the Taiwanese and go blue-green-blue-green, or white-blue-white-blue. ;)

Sideswipe said:
maybe we should learn from the Taiwanese. the 40% should storm and occupy Parliament and demand Pinky faces us directly and explains his trashy policies to us. :D
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New rules for hiring Myanmar maids cover minimum monthly wage, day off

By Amelia Tan

After years of not actively enforcing what it once regarded as an illicit cross-boundary trade, Myanmar has legalised the export of maids and drawn up rules to better protect its women abroad.

The rules have been communicated to agents in Singapore in recent weeks, three of which will affect employers here.

First, Myanmar maids must receive a minimum monthly wage of $450.

Second, they must get at least a day off in a month, according to Myanmar newspaper reports.
 
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