- Joined
- Mar 12, 2009
- Messages
- 13,160
- Points
- 0
YPAP grasslooters complain his HDB rental not enough for his monthly installment
YPAP leader and new citizen Sinha Shekhar
complains about low rent of his resale HDB flat
June 22nd, 2010 | Author: Your Correspondent
YPAP leader and new citizen from India Sinha Shekhar made a Freudian slip on the PAP REACH Facebook yesterday by complaining about the low rent of his resale flat.
The Ministry of Finance is conducting a public consultation on changes in the property tax to improve tax administration and to provide greater clarity to taxpayers.
Below is a snapshot of Mr Sinha Shekhar’s comments, courtesy of our reader James Ong:
sinhaproperty
[Source: REACH Facebook]
In the above exchange, Mr Sinha Shekhar, who works as an occupational therapist at Thye Hua Kwan Hospital, wrote that he paid “really high” for a resale HDB flat and the rent he is collecting is not enough to pay for the bank instalments.
Mr Sinha also revealed that he owns a private property, implying that he bought the resale HDB flat NOT for staying but for renting and making money.
This is yet another example of immigrants jacking up prices of HDB flats by their entry into the resale market and then profiteering from it by renting them out, a common practice in Singapore.
Some PRs are known to buy a few resale flats for rental before selling them at a profit after they leave Singapore.
Due to a limited supply of new flats in the face of rising demand fueled by the relentless influx of immigrants, the prices of HDB flats have sky-rocketed in recent years, pricing young Singaporeans out of the market.
Many of these PRs and new citizens are already established professionals like Mr Sinha Shekhar when they arrived in Singapore and therefore it is not surprising that they can afford to buy resale flats which are unaffordable to most Singapore graduates fresh out of school.
The Straits Times reported last year of an Indonesian PR who paid an eye-popping $653,000 for a 4-room resale flat in Queenstown though he could well afford to buy a condominium.
Despite the evidence on the ground showing otherwise, PAP Minister for National Development Mah Bow Tan is adamant that HDB flats remain “affordable” in Singapore and ticked Singaporeans off for being “fussy”.
Mr Sinha Shekhar is notorious in Singapore blogosphere for his description of PAP critics as “dogs” on the YPAP Facebook.
Ironically, he was later given an “Outstanding Contributors’ award” by Prime Minister Lee Hsien Loong for the regularity of his contributions on the PAP REACH Forum and Facebook.
YPAP leader and new citizen Sinha Shekhar
complains about low rent of his resale HDB flat
June 22nd, 2010 | Author: Your Correspondent
YPAP leader and new citizen from India Sinha Shekhar made a Freudian slip on the PAP REACH Facebook yesterday by complaining about the low rent of his resale flat.
The Ministry of Finance is conducting a public consultation on changes in the property tax to improve tax administration and to provide greater clarity to taxpayers.
Below is a snapshot of Mr Sinha Shekhar’s comments, courtesy of our reader James Ong:
sinhaproperty
[Source: REACH Facebook]
In the above exchange, Mr Sinha Shekhar, who works as an occupational therapist at Thye Hua Kwan Hospital, wrote that he paid “really high” for a resale HDB flat and the rent he is collecting is not enough to pay for the bank instalments.
Mr Sinha also revealed that he owns a private property, implying that he bought the resale HDB flat NOT for staying but for renting and making money.
This is yet another example of immigrants jacking up prices of HDB flats by their entry into the resale market and then profiteering from it by renting them out, a common practice in Singapore.
Some PRs are known to buy a few resale flats for rental before selling them at a profit after they leave Singapore.
Due to a limited supply of new flats in the face of rising demand fueled by the relentless influx of immigrants, the prices of HDB flats have sky-rocketed in recent years, pricing young Singaporeans out of the market.
Many of these PRs and new citizens are already established professionals like Mr Sinha Shekhar when they arrived in Singapore and therefore it is not surprising that they can afford to buy resale flats which are unaffordable to most Singapore graduates fresh out of school.
The Straits Times reported last year of an Indonesian PR who paid an eye-popping $653,000 for a 4-room resale flat in Queenstown though he could well afford to buy a condominium.
Despite the evidence on the ground showing otherwise, PAP Minister for National Development Mah Bow Tan is adamant that HDB flats remain “affordable” in Singapore and ticked Singaporeans off for being “fussy”.
Mr Sinha Shekhar is notorious in Singapore blogosphere for his description of PAP critics as “dogs” on the YPAP Facebook.
Ironically, he was later given an “Outstanding Contributors’ award” by Prime Minister Lee Hsien Loong for the regularity of his contributions on the PAP REACH Forum and Facebook.
