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"I find this argument, frankly, amazing": PM Lee Hsien Loong

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Old 25-08-2018, 09:05 AM   #151
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so if hdb suddenly kong kah kiao... all sinkies in hdb will become homeless?

to be more accurate it is the hdb who holds the 99y coe.. hdb den rents out flat to u with a 99y tenancy or lease agreement.
after 99y u hv to vacate the flat, while hdb has to return the land
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Old 25-08-2018, 09:08 AM   #152
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so if hdb suddenly kong kah kiao... all sinkies in hdb will become homeless?
tiagong hdb alrdy kong kah kiao according to kbw.. hdb make losses selling hdb according to him ~~
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Old 25-08-2018, 09:20 AM   #153
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to be more accurate it is the hdb who holds the 99y coe.. hdb den rents out flat to u with a 99y tenancy or lease agreement.
after 99y u hv to vacate the flat, while hdb has to return the land
Why you buay song? If you buay song just buy freehold condo la. Why condemn hdb 99 years leasehold. Most condo also 99 years leasehold wat. Why you don't condemn?
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Old 25-08-2018, 09:20 AM   #154
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Dishonorable son can say whatever he likes.

However he flips prata and spin his lies, fact is:



So, time to wake up and wise up.
IBs need to respond to this.
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Old 25-08-2018, 09:21 AM   #155
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IBs need to respond to this.
Banks also don't accept rolex watches, hermes handbags for collateral, does that mean you don't own it as well? LOL

Till now 30% still can't answer this simple question. Can you sell what you don't own?

Last edited by WC32890; 25-08-2018 at 09:25 AM..
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Old 25-08-2018, 09:24 AM   #156
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Why you buay song? If you buay song just buy freehold condo la. Why condemn hdb 99 years leasehold. Most condo also 99 years leasehold wat. Why you don't condemn?
where do u see the condemnation in my post??
wah lao so sensitive n triggered...
did u over pay for an old resale hdb? hehee
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Old 25-08-2018, 09:25 AM   #157
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where do u see the condemnation in my post??
wah lao so sensitive n triggered...
did u over pay for an old resale hdb? hehee
I don't stay in hdb
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Old 25-08-2018, 09:26 AM   #158
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I don't stay in hdb
i did not ask.. why u volunteer this info?
lol
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Old 25-08-2018, 09:45 AM   #159
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LKY tricked all Merdeka Pioneers sinkeis to own a flat.
Only reason it to lock in their 30years of working life to fund for the HDB.
LKY is typical political strategist. It works.

But now it becomes too expensive that many sinkies are struggling to pay for their HDB, it has become a burden and lifelong death trap.

Younger sinkies are not stoopiak.

This HDB issue will destroy Singapore in another 20years.
Merdeka pioneers time, housing is cheap. They can retire..... Then came the asset enhancement plan... Which blew the housing pricing out of proportion.... And resulting in much ppl no more retire fund.... And think as years past by, this percentage will further increase....
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Old 25-08-2018, 09:46 AM   #160
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Gong lj wei lumber satu!!

"I find this argument, frankly, amazing": PM Lee Hsien Loong on commentators who say that the 99-year lease for an HDB flat is an "extended rental".

https://www.facebook.com/ChannelNews...iZsg&__tn__=-R


Home ownership helps Singaporeans build up assets: PM Lee

SINGAPORE: By pursuing homeownership as a key national policy, the Government has improved the lives of Singaporeans significantly, Prime Minister Lee Hsien Loong said in a speech on Friday (Aug 24), following key announcements on housing policy at Sunday’s National Day Rally.
"The Government has long pursued home ownership as a key national policy, for many good reasons," he said as he launched a book - Critical Issues in Asset Building in Singapore’s Development.
Owning their own homes gives Singaporeans "a stake in the country" and something to fight for when the "chips are down", said Mr Lee.

Read more at https://www.channelnewsasia.com/news...m-lee-10648722

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Old 25-08-2018, 09:48 AM   #161
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I only know you can buy a flat and you can sell a flat. So it is not a rent - it is ownership.

So many people, especially PR FTs, sell away their HDB flats for a handsome sum before they go back to their countrysides and open ranches and build houses. You never see or you refuse to see? Anyone who owns a flat can sell it.

In this world, all properties have a lease. So don't make a mountain out of a mole hill on it. Even if your property is 999 years you will still get developers knocking on your door to offer you compensation to acquire your property or land one day.

Do you know how run down an HDB block will be like after 50 years? No need 70 years they will redevelop liao. ?
I think the bolded points are very relevant, although i don't totally agree with your point.

Although I do agree with you that there is a lot of fear mongering. There are valid concerns, but it is mixed in with a lot of fear mongering.

I am going to define all the terms. Source at the bottom(it is a property website).

Just to clarify definitions of leasehold and free hold:

Leasehold: "A leasehold interest is, on the other hand, a temporary right to occupy land or property. A person who owns the freehold interest in a property may grant a lease on it to another person. This creates a relationship of Landlord and Tenant (or Lessor and Lessee). The lease will be a lengthy, written, legal document based on property and contractual law which sets out the rights and obligations of both the Landlord (Lessor) and Tenant (Lessee). Most flats in England and Wales are held on leases."

Freehold: "The freehold interest in land (sometimes referred to in legal terms as The Fee Simple Absolute in Possession) is the most complete interest that can be held in England and Wales, as all land is technically held subject to the Crown(for SG it is probably the Singapore government. In practice it means the outright ownership of land or property for an unlimited period and applies to the majority of houses."

Definition of lease: "A lease will be for a fixed term. Historically most flat leases were for 99 years, although more recent leases may be for 125 years. It is also not uncommon for leases to be for 999 years."

What is a lease?: "Although the lease on any property will be a complex document, the basic principle is that it will give the Tenant (Lessee) the right to occupy the property for the period specified in the lease. The lease will normally specify that the Landlord (Lessor) will have to allow the Tenant (Lessee) ‘quiet enjoyment’ of the property provided that the Tenant (Lessee) in turn observes their duties under the lease. The principal duty normally being to pay the rent specified in the lease to the Landlord (Lessor)"

You can essentially sell the flat, but it still doesn't address what happens to the lease when it expires. Since the land owner is the SG government, they will probably extend the lease when the time comes. Either that or 'give' them a new flat in a different location. Realistically are they going to chase hundreds of thousands of people out once the leases on their flats expire? I highly doubt so.
They are dumb but not that dumb. So where do I get this idea of them 'giving' you a new flat when your lease expires?(this might not be free, but maybe allowing you to lease a new flat for 99 years at a fraction of the price) Take note of the bolded statement in the quote.

From Channel News Asia:

"The Voluntary Early Redevelopment Scheme (VERS) is part of a “long-term plan” to allow the Government to progressively redevelop precincts, Mr Lee said in his National Day Rally speech. It will take place when the flats reach about 70 years of age, he added.

Mr Lee said that the Government will compensate residents whose flats are taken back early, and will also help them get another flat to live in, just as they would if their leases had run out."

This means that if the leases run out, theoretically, they are supposed to give you another flat to live in. I don't know how much this would cost, but it probably wouldn't be the full price of a new HDB.

From the property website:

"What happens then when the period specified in the lease comes to an end? Effectively, when a lease comes to an end the Tenant (Lessee) no longer has a right to occupy the property and has to give back possession to the Landlord (Lessor). The lease will usually include a clause which states that the Tenant (Lessee) will ‘quietly yield up possession’ on the termination of the lease. In reality a Lesee will start the process of extending their lease well before it expires."

It's very likely that the only real consequence is that the HDB lessee(i.e. Singaporeans) is forced to move house.

http://www.mypropertyguide.co.uk/art...d-freehold.htm

https://www.channelnewsasia.com/news...efore-10631458
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Last edited by tf2noobz; 25-08-2018 at 09:58 AM..
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Old 25-08-2018, 09:48 AM   #162
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moi ish believe that VERS is a good way to demolish old and run down blks and build new ones but the problem ish new flats are so expensive, how will the owner and its family who opt into the VERS scheme will be able to finance their new home??!!

THIS WILL ALL BE MADE CLEAR IF THE COST OF HDB IS BEING MADE TRANSPARENT.

If notch its like a vicious cycle all over again....
Which means, unless they ensure every blk ish sers... Otherwise there is no solution to current situation
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Old 25-08-2018, 09:48 AM   #163
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I don't stay in hdb
Congrats, the 3 storey ang mo chu along new upp changi road belongs to you i know.
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Old 25-08-2018, 09:48 AM   #164
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Worst speech ever
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Old 25-08-2018, 09:49 AM   #165
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LKY tricked all Merdeka Pioneers sinkeis to own a flat.
Only reason it to lock in their 30years of working life to fund for the HDB.
LKY is typical political strategist. It works.

But now it becomes too expensive that many sinkies are struggling to pay for their HDB, it has become a burden and lifelong death trap.

Younger sinkies are not stoopiak.

This HDB issue will destroy Singapore in another 20years.
Nobody can force you to own. You can rent if you wish.

Sent from Istana using GAGT
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