Let’s talk about VERS

[edrickmark]

Hi all, what do you think about VERS ?

 

[hyman]

We will know in 20 years time...

 

[Mergui219067]

Those who bought 99-but-believe-it-is-freehold would still be unhappy.

At the moment, they are bitter on the terms leasee or ownership .

 

[foker]

If you want to see it happen, make sure you vote the correct party in the next few GE.

That's what he is trying to tell everyone.

 

[Mergui219067]

EDMW says that ?

If you want to see it happen, make sure you vote the correct party in the next few GE.
That's what he is trying to tell everyone.

 

[Sinkie]

If you want to see it happen, make sure you vote the correct party in the next few GE.

That's what he is trying to tell everyone.

Where are they going to take money from for the VERS??!!

From income tax? From gst? From stamp duty?

 

[bojangle]

VERS 20yrs later?? he still around? and dun forget the value is not the same compared to SERS, will be much lower.
If by then you are 70yo, can u still afford another new/used flat with that discounted return and no loans available or you are retired with no income? Dun forget the inflation of properties and aging flats above 50yrs depreciating. Think stay and rot till 99yrs still a better option.

i started to lost faith in things he said.

 

[Mergui219067]

And you are expecting SERS for all ?

Your VERS are not just for you but your next generation too.
And now some believe VERS is expected & fast.

Not sure why some HDB owners expect their very old flats to have no depreciation in value.

Losing faith in him or your ‘self entitlement’ ?

VERS 20yrs later?? he still around? and dun forget the value is not the same compared to SERS, will be much lower.
If by then you are 70yo, can u still afford another new/used flat with that discounted return and no loans available or you are retired with no income? Dun forget the inflation of properties and aging flats above 50yrs depreciating. Think stay and rot till 99yrs still a better option.

i started to lost faith in things he said.

 

[bojangle]

And you are expecting SERS for all ?

Your VERS are not just for you but your next generation too.
And now some believe VERS is expected & fast.

Not sure why some HDB owners expect their very old flats to have no depreciation in value.

Losing faith in him or your ‘self entitlement’ ?

self-entitlement? Yes..entitled to keep Pay And Pay.

lose faith? no meh, last election said no increase in GST, now just passed 2yrs and asked to prepare for 9%.

 

[Wk7777]

VERS to me is a Mass early Lease Buyback scheme.. when the lease of your flat is left with 20-30 years, nobody will want to buy your old flat.... so who else can you sell to? The HDB will buy it back at a suppressed value... Tear it down, rebuild then sell high....

HIP2 is telling you, "we will renovate the old flat for you so that you can stop dreaming of SERS.... alternatively, why don't you all consider VERS? I can sell to Private Developers at a Premium."

 

[qhong61]

VERS 20yrs later?? he still around? and dun forget the value is not the same compared to SERS, will be much lower.
If by then you are 70yo, can u still afford another new/used flat with that discounted return and no loans available or you are retired with no income? Dun forget the inflation of properties and aging flats above 50yrs depreciating. Think stay and rot till 99yrs still a better option.

i started to lost faith in things he said.

I think still better to sell early if we have intention to move.

 

[kyteo79]

VERS 20yrs later?? he still around? and dun forget the value is not the same compared to SERS, will be much lower.
If by then you are 70yo, can u still afford another new/used flat with that discounted return and no loans available or you are retired with no income? Dun forget the inflation of properties and aging flats above 50yrs depreciating. Think stay and rot till 99yrs still a better option.

i started to lost faith in things he said.

U started ?

I lost faith many years ago ... Just only **** hits the ceiling and we can see what is balance in the coffer. Dun be surprise situation like malaysia.

ripple effects when all investment flows out and we can see really ghost town here ...

 

[catlover24]

Like en-bloc sagas, VERS could also prove destructive to neighbourly relations and harmony. We could see younger flat owners voting in favour of VERS, getting into an ugly spat with elderly neighbours who want to remain in their flats for the last days of their lives. Conflicts may also arise between residents who are looking to rely on the proceeds from VERS to upgrade, and residents whose HDB home is the only asset and would be destitute if not for the roof over their heads.

This article shows that VERS has the potential to be the worst housing policy ever.
https://www.99.co/blog/singapore/na...m_source=homepage&utm_medium=featured_stories

 

[Mergui219067]

Why do you believe that HDB owners deserve these VERS ?
All of those in private 99 have no such privilege ?
And many HDB owners are almost millionaires.

Pay & Pay ?
Will you believe if the opposition promises no price rise for those ?

And you expect the $$$ for these massive VERS fall from the sky ?
I am really not surprised if GST goes up sooner .
And you can’t be at the losing end.
Pay a bit more GST & get VERS / all the rebates.

self-entitlement? Yes..entitled to keep Pay And Pay.
lose faith? no meh, last election said no increase in GST, now just passed 2yrs and asked to prepare for 9%.

 

[Sinkie]

VERS to me is a Mass early Lease Buyback scheme.. when the lease of your flat is left with 20-30 years, nobody will want to buy your old flat.... so who else can you sell to? The HDB will buy it back at a suppressed value... Tear it down, rebuild then sell high....

HIP2 is telling you, "we will renovate the old flat for you so that you can stop dreaming of SERS.... alternatively, why don't you all consider VERS? I can sell to Private Developers at a Premium."

Land for hdb can sell to private developer to build condo?

 

[captain huat]

VERS to me is a Mass early Lease Buyback scheme.. when the lease of your flat is left with 20-30 years, nobody will want to buy your old flat.... so who else can you sell to? The HDB will buy it back at a suppressed value... Tear it down, rebuild then sell high....

HIP2 is telling you, "we will renovate the old flat for you so that you can stop dreaming of SERS.... alternatively, why don't you all consider VERS? I can sell to Private Developers at a Premium."

That is why i think if that happens.

A lot of 99 leasehold condo are ****ed in the next 50years.

With vers. There will be more supply of land for the govt to sell to private developers.

Private developers do not need to pay premium to enbloc existing old condos.

They can just wait for govt to tender out parcels of land that is occupied by old hdbs

 

[captain huat]

Land for hdb can sell to private developer to build condo?

Why not. Govt will decide ultimately this land can be used for ec, condo, hdb.

If govt wants to build a school also its up the govt to decide.

 

[ketua]

Someone supposed to step down soon, promises you something 20 years later.

And that someone is the one who said GST won't increase before GE.

Sent from Xiaomi MIX using GAGT

 

[Sinkie]

Someone supposed to step down soon, promises you something 20 years later.

And that someone is the one who said GST won't increase before GE.

Sent from Xiaomi MIX using GAGT

It's the party which promise VERS, not he

 

[kyteo79]

If you want to see it happen, make sure you vote the correct party in the next few GE.

That's what he is trying to tell everyone.

Vote which party also the same ...

Use your money to pay