Chitchat ST Forum: Are HDB residents tenants or owners?

[Devil Within]

If I am an HDB tenant, why am I required to pay property tax?

Can we have some clarity on whether HDB dwellers are tenants or real home owners for 99 years?

Larry Leong

Great question, but don't expect the corrupted government to answer it.

 

[nayr69sg]

Not to mention the PeeM appointing his own wife to run a multibillion dollar sovereign wealth fund for which she has no qualifications. That is corruption.

Yes it is. But for some reason 69.9% of sinkies don't see that.

LHY you need to come up with unrefutable evidence that HC and LHL have misappropriated govt funds.

 

[eatshitndie]

aiyah. sg property tax is so low still want to kpkb. it's a privilege and blessing to live in a hdb flat thus resident should lan lan not ask questions and just pay up. it's sup sup soy like kopi money. forget that you're paying property tax in sg. take it that you're paying pigeonhole tax - for the right the gov gives you for squatting and shitting in a hole in the wall. if you're in cupertino and live in a $1.69m condo, you'll be paying over $21k in property tax per year. and you don't even own the land the condo is sitting on, just the condo. plus you must pay an additional $690 per month for hoa dues. sinkies should just shut up and pay up. :p

 

[rushifa666]

Can you mortgage. Then you have your answer. The other trying to convince that shit taste good delusions are just a waste of time. No one asked about those

 

[garlic]

Not happy, then buy condo lor... also 99 yrs..

 

[bobby]

The question on HDB should also be....how on earth are they priced as public housing?

 

[JohnTan]

And they are still asking....

If I am an HDB tenant, why am I required to pay property tax?

Can we have some clarity on whether HDB dwellers are tenants or real home owners for 99 years?


Larry Leong

HDB flat "owners" are owners of a 99-year lease. The flat is a 99 year lease, which is made clear to potential owners before buying. If you don't like it, don't buy it.

The property tax is a tax on ownership and potential profits made. Many sinkies lease out part of their flats at an inflated rate, disproportional to their actual HDB mortgage. Treat it as a form of income tax.

For those who do not rent out their flat in whole or in part, treat it as a tax on cheap housing. Try comparing your HDB monthly mortgage against a monthly rental at a backpacker's lodge or budget hotel. You probably got a better deal.

There's nothing wrong with a 99-year lease since most first buyers tend to sell off their HDB within the first 10-15 years. So what good is a 999 year lease if you only plan to make use of 10-15 years on that 999 year lease?

Sinkies who buy resale HDB flats need to keep an eye on the remainder of the lease. Do your homework before buying, or else be ready to be evicted once the lease expires before you kick the bucket.

 

[frenchbriefs]

the answer is yes. But you can be an individual with some success if you cash out on the HDB flat AND take out your CPF.

we are a economic success.....we are a huge economic success at the expense of sinkies,sinkies have been sold out by traitors and translators and han jians and uragirimonos and the daft 70 themselves more than u can ever imagine.

Now i know the taste of betrayal.....it was the taste of betrayal you fucking whore!!!

 

[frenchbriefs]

Can you mortgage. Then you have your answer. The other trying to convince that shit taste good delusions are just a waste of time. No one asked about those

U mean take out a loan on ur HDB flat?if I remember right the only things that can't be repossessed during bankruptcy is ur CPF and HDB?

 

[frenchbriefs]

HDB flat "owners" are owners of a 99-year lease. The flat is a 99 year lease, which is made clear to potential owners before buying. If you don't like it, don't buy it.

The property tax is a tax on ownership and potential profits made. Many sinkies lease out part of their flats at an inflated rate, disproportional to their actual HDB mortgage. Treat it as a form of income tax.

For those who do not rent out their flat in whole or in part, treat it as a tax on cheap housing. Try comparing your HDB monthly mortgage against a monthly rental at a backpacker's lodge or budget hotel. You probably got a better deal.

There's nothing wrong with a 99-year lease since most first buyers tend to sell off their HDB within the first 10-15 years. So what good is a 999 year lease if you only plan to make use of 10-15 years on that 999 year lease?

Sinkies who buy resale HDB flats need to keep an eye on the remainder of the lease. Do your homework before buying, or else be ready to be evicted once the lease expires before you kick the bucket.

Backpackers or budget hotels are for short term stay,if I'm staying for extended periods of time say 1 month or more I can rent a room in Melbourne Australia for $150/per week or less.or even an apartment.

The

 

[Agoraphobic]

They've been doing this all their lives. It's a matter of fact.

Cheers!

................... sinkies should just shut up and pay up. :p

 

[bobby]

U mean take out a loan on ur HDB flat?if I remember right the only things that can't be repossessed during bankruptcy is ur CPF and HDB?

Exactly...even the "owners" cannot possess HDB or withdraw their CPF when they not bankrupt.

 

[Bad New Brown]

Not many upper-middle income people can afford a private condo.

Buying a HDB apartment with a HDB loan is still very good option even one is not a owner.

99 years lease more than enough stay. Freehold ownership is just a name to make you feel better staying in private property :p

Never get too obsessed in buying private properties as one may end up losing big money

 

[eatshitndie]

Not many upper-middle income people can afford a private condo.

Buying a HDB apartment with a HDB loan is still very good option even one is not a owner.

99 years lease more than enough stay. Freehold ownership is just a name to you feel better staying in private property :p

Never get too obsessed in buying private properties as one may end up losing big money

you sum it up very well for majority of sinkies. young sinkie couples are so lucky when compared to their peers in hk, tw, jp and sk. even tiongs in big cities are getting jealous of sinkies having affordable pubic housing built for them by the gov. 99-yr prepaid rental for a 4-rm hdb flat at sgd390k is a better deal than paying sgd6.9k per month for a smaller flat in hk by a long shot. the monthly rental for a 99-yr 4-rm hdb flat at sgd390k prepaid with 100% cash works out to sgd330 or sgd11 a day. with mortgage including interest over 20 years it works out to sgd696 per month depending on the mortgage rate. moreover, after 5 years can sell. if sold with profit, rent for 5 years is basically free.

 

[Bad New Brown]

Bro eatshitndie, you are right in your analysis.

Not forgetting the CPF Housing Grants for the lower income people.

Buying a private condo with bank loan (expensive interest rates in long run) will only provides you security officers, swimming pool and tennis courts or gym. Of course nicer building structures.

For me, I am lessee with a duplicate copy of The Land Titles Act - Lease

I have an apartment to stay without worry

HDB is very good and safe housing for all Singaporeans :p

 

[frenchbriefs]

Not many upper-middle income people can afford a private condo.

Buying a HDB apartment with a HDB loan is still very good option even one is not a owner.

99 years lease more than enough stay. Freehold ownership is just a name to make you feel better staying in private property :p

Never get too obsessed in buying private properties as one may end up losing big money

dont u think if hdb public housing which is supposed to be cheap or free or provided to the public and lower and lower middle income at cost price as public housing was intended for,the cost of condos would also be lower.and also more people would be living in condos or "apartments" as they call it in the west,since condos will replace these slum ghetto housing.

the cost of a 4 or 5 room hdb flat is so ridiculously expensive thanks to ponzi,where have u heard of public housing in this world costing half a million dollars and some reaching a million?for half a million bucks u could get a pretty fancy condo apartment near melbourne cbd.

also sinkies are pretty obssessed with condos,bmws and mercs as pretty evident from carshows in shopping malls,bmw and audi carshows are always swamped with sinkie gawkers,but the price tag on these vehicles are like $130k to $170k(bmw) before coe....why dont sinkies sell their ridiculously overpriced pigeon hole,migrate to USA or Aus or a western country where they can live the singapore dream at a much much affordable price,2 storey house in a nice suburb for 150k to 250k,500k if they are looking for a really really fancy place thats comparable to a bungalow in SG,bmws in US cost 30k to 80k,mercs cost 30k.they can own 2,one for the husband and one for the wife.

 

[Bad New Brown]

bro frenchbriefs, a new BTO 4-rooms unit (90 sqm) in Boon Keng and Clementi cost about $570k and two of my co-workers bought it 3 years ago.

Yes it's very expensive but compare to a private condo 2-bedroom of 65 sqm that cost $950k (exclude stamp duty). The HDB apartment is much cheaper lol.

Not easy to migrate to another country and I still believe many local born sinkies will retire in their HDB flats in future and not in the private condo.

Condo, BMW and Mercedes only make you feel better than lower income groups. A BMW 1 series cost about $136K with COE, I can afford it but I still prefer to take our public transportations

 

[Papsmearer]

Not many upper-middle income people can afford a private condo.

Buying a HDB apartment with a HDB loan is still very good option even one is not a owner.

99 years lease more than enough stay. Freehold ownership is just a name to make you feel better staying in private property :p

Never get too obsessed in buying private properties as one may end up losing big money

U are a typical brainwashed sinkie, swallowed too much PAP cum and fucked your brain up that way.

Not many middle income people can afford a private condo? Why is that? Ever ask that question? Or you need it spoon fed to you like a sinkie?

Let me explain to you how it works.

In normal countries, the govt does not own or control 90% of the land. Only communist and socialist countries have this sort of governmental land ownership. In a normal country, a govt or city might build only 5-15% of all residential housing for the lower income and underprivileged people, and these become govt subsidized housing for the poor. In Singapore, the PAP took this original idea under SIT and then later earlier versions of the HDB and mutated it to what it is today. Using the land acquisitions act, they appropriated close to 90% of all land in SIngapore for themselves. Once they became a monopoly, they simply proceeded to build housing for 80% of the population hence forcing all lower, middle and upper middle classes into govt housing. A small percentage of the land is sold to developers at exorbitant prices, with minimum floor prices stipulated during the bid process. Developers have to make a profit too, when they have so little land to work with and with the prices being so high as set by LTA or URA (even though these agencies obtained the land cheap cheap through the land acquisitions act), they have to pass the price on to the end users and hence you have high prices.

Now what would happen if the HDB stuck to its original mandate and build housing just for the lower income people, instead of for 80% of the population? Well, they would only need perhaps 10% of the land, and not 90%. The other 80% would not be acquired under the land requisitions act or any other act. The owners of these 80% of the land will be free to sell it to whoever they want. If a developer approach them, they could sell it to them. If they ask too much, the developer will simply approach other land owners. Why? Because they are lots of them around and they own 80% of the land. The land acquisition price for the developers is therefore much lower. And there are many more competitors with other developers buying land to build too. It works the same for the end products. Lots of developers build condo projects give the people an option and many choices. If one is too expensive, look at another project to buy. There is no balloting of flats, or other devices that the HDB uses to control the buyers. Developers will build some basic flats, some luxury flats and some condos with mid level finishing. This is called a market economy. Right now, all private condos are basically luxury condos.

believe it or not, at one time, the difference between a HDB flat and a private freehold condo was about $110K. Timothy Seow build the first private condo in 1970 at the Beverly Mai. You could buy a condo there for about $150K. A HDB flat in Marine PArade around the same time was about $35K. but as the HDB took over more and more land, developers like Timothy Seow cannot find reasonably price plots to buy and hence the price becomes so high. If the PAP and HDB did not get into the business of making money and ripping citizens off, most of us would be living in private free hold condos costing way less then $ 1 million each. U got it now?

 

[Papsmearer]

you sum it up very well for majority of sinkies. young sinkie couples are so lucky when compared to their peers in hk, tw, jp and sk. even tiongs in big cities are getting jealous of sinkies having affordable pubic housing built for them by the gov. 99-yr prepaid rental for a 4-rm hdb flat at sgd390k is a better deal than paying sgd6.9k per month for a smaller flat in hk by a long shot. the monthly rental for a 99-yr 4-rm hdb flat at sgd390k prepaid with 100% cash works out to sgd330 or sgd11 a day. with mortgage including interest over 20 years it works out to sgd696 per month depending on the mortgage rate. moreover, after 5 years can sell. if sold with profit, rent for 5 years is basically free.

he summed it up very well? He is a fucking moron. And stop smoking the weed in the bay area, cause that's fucked up your brains too.

 

[frenchbriefs]

bro frenchbriefs, a new BTO 4-rooms unit (90 sqm) in Boon Keng and Clementi cost about $570k and two of my co-workers bought it 3 years ago.

Yes it's very expensive but compare to a private condo 2-bedroom of 65 sqm that cost $950k (exclude stamp duty). The HDB apartment is much cheaper lol.

Not easy to migrate to another country and I still believe many local born sinkies will retire in their HDB flats in future and not in the private condo.

Condo, BMW and Mercedes only make you feel better than lower income groups. A BMW 1 series cost about $136K with COE, I can afford it but I still prefer to take our public transportations

Have sinkies open their eyes and ask what is it exactly they are paying for?a ugly utilitarian monstrosity of a cookie cutter build government housing with no Eliz
Abethian Georgian architecture of a ghetto shithole covered in urine and dog shits stains.why why why do sinkies insist on making PAP rich just so they can throw ur billions away and call this country well run?