SDP Housing Policy

[gravity_infinity]

to add on (in case i miss out - do correct me)

existing property owner should be classified under OM instead of NOM.

This helps not only to prevent backlash from existing owners it gives existing owners flexibility to change it to NOM to get back some savings as well without the need to sell their home.

it is already suggest in the housing policy by sdp

 

[neojudy]

Free hdb +1

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[Gribber]

he is being dishonest
HDB is making a technical "loss" bcos the proceeds from selling to HDB the artificial land cost component is transferred to SLA n the reserves.. thus incurring a "loss"

but an enormous increase in SLA profits.

 

[PiPiChew]

i have a suggestion to the NOM scheme

to further impede capital gain, the price which owners sell back to the HDB will not be higher after factoring an implied rate. We can tag this rate to CPF interest rate, or inflation rate. so that their "asset" does not depreciate

and we should make NOM convertable to OM also.

Yupp way to go. CFP rate PLUS inflation rate

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[Laneige]

fast read thru and from someone post, its liked

buy from HDB, pay 3% interest
sell back to HDB

at what pricing?

so after they sell to HDB back, if the house need renovation, HDB needs to put it back to new unit for sale? so must change toilet bowl etc? fair? this money charge to next buyer? fair enough i guess

then end of the Qn....
then why sell? why buy?
might as well ask HDB to rent the unit out liao lor. this is liked everyone under the scheme is all in need of housing subsidize as those with financial issues.

and why another Qn is... it seem liked stay for free since sell back to HDB. sell back at original price or? if original price bought then is no win no gain. only pay interest nia. people rent house also need to pay rental. this one machiam pay interest only? hmmm

 

[Gribber]

fast read thru and from someone post, its liked

buy from HDB, pay 3% interest
sell back to HDB

at what pricing?

so after they sell to HDB back, if the house need renovation, HDB needs to put it back to new unit for sale? so must change toilet bowl etc? fair? this money charge to next buyer? fair enough i guess

then end of the Qn....
then why sell? why buy?
might as well ask HDB to rent the unit out liao lor

I thought there is such thing called "valuation"

last i checked some sers unit are units that HDB repossessed back from existing owner.

They marked up like heaven. Fair to us then? Seriously.

 

[BreadPitt]

fast read thru and from someone post, its liked

buy from HDB, pay 3% interest
sell back to HDB

at what pricing?

so after they sell to HDB back, if the house need renovation, HDB needs to put it back to new unit for sale? so must change toilet bowl etc? fair? this money charge to next buyer? fair enough i guess

then end of the Qn....
then why sell? why buy?
might as well ask HDB to rent the unit out liao lor

yup.... theoretically similar to the rental model. Only thing is that you own it for XX years. It might just be words, but it means alot.

Anyway, main goal of this policy I pressume is to enable people to pay off their homes in 15years? after that can spend on other lifestyle stuff.

 

[vinn]

agree.
sell back to hdb instead of open market.
and please restrict "ownership" to sgreans only

 

[lalalalalala]

fast read thru and from someone post, its liked

buy from HDB, pay 3% interest
sell back to HDB

at what pricing?

so after they sell to HDB back, if the house need renovation, HDB needs to put it back to new unit for sale? so must change toilet bowl etc? fair? this money charge to next buyer? fair enough i guess

then end of the Qn....
then why sell? why buy?
might as well ask HDB to rent the unit out liao lor. this is liked everyone under the scheme is all in need of housing subsidize as those with financial issues.

and why another Qn is... it seem liked stay for free since sell back to HDB. sell back at original price or? if original price bought then is no win no gain. only pay interest nia. people rent house also need to pay rental. this one machiam pay interest only? hmmm

i think whatever written in the manifesto is a general idea, like a beta of a program. before implementing can go more into detail (debugging). this is my take on your questions.

it should be possible for hdb to valuate the house before you sell back to them and maybe charge you depreciation??? after that they can use the money to either rennovate before selling as NOM.

 

[PiPiChew]

fast read thru and from someone post, its liked

buy from HDB, pay 3% interest
sell back to HDB

at what pricing?

so after they sell to HDB back, if the house need renovation, HDB needs to put it back to new unit for sale? so must change toilet bowl etc? fair? this money charge to next buyer? fair enough i guess

then end of the Qn....
then why sell? why buy?
might as well ask HDB to rent the unit out liao lor. this is liked everyone under the scheme is all in need of housing subsidize as those with financial issues.

and why another Qn is... it seem liked stay for free since sell back to HDB. sell back at original price or? if original price bought then is no win no gain. only pay interest nia. people rent house also need to pay rental. this one machiam pay interest only? hmmm

Say after staying 50 years first owner sell back to HDB. So 200k unit sell back get 100k in today's value.

So I assume it would be 130k in 50 years time value (random figures hor no math calculations involved).

So govt take over and spend say 20k to reburbish to brand new look (HDB HIP program does it for less than 20k right now anyways) and sell for 150k cost price to 2nd owner at 49 years lease.

In 50 years time definitely a new unit wouldn't cost 200k but appreciate to 260k due to time value of money.

150k 49 years lease for short term owners, 260k 99 years lease for long term owners. They still have a choice.

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[Deathzz]

land is scarce. no issue with the 99years since you probably wont get to live till that at all. considering that you buy your house at the age of 25 to 30 years old.

plan is good for the poor. but for those who want to upgrade to EC or condo. go for OM is prefer

 

[Gribber]

land is scarce. no issue with the 99years since you probably wont get to live till that at all. considering that you buy your house at the age of 25 to 30 years old.

plan is good for the poor. but for those who want to upgrade to EC or condo. go for OM is prefer

but they have no issues seeking 10million population for Singapore.

 

[Laneige]

I thought there is such thing called "valuation"

last i checked some sers unit are units that HDB repossessed back from existing owner.

They marked up like heaven. Fair to us then? Seriously.

yea but when market is down, this flat prices will go down. just that at this moment, this pricing isnt going down.
not sure now if a unit is left over and over again after balloting etc... whether they will adjust the price down after each unsuccessful "sale"

actually if this is similar to rental model or it is a rental model, dont really see the diff. at least rental mode still need to pay rental but this dont have to. machiam govt giving everyone a free space to stay, taking in only interest. not sure if rich countries liked Dubai or Brunei gives it people free place to stay but this might not work. everyone take this then all branch out and stay liao. u will need more n more of such units. singles also want a share.

i think they would have also mentioned barred people from renting the unit out right since they are basically "buying" from hdb at low price. if rent out then is abuse of the sys. do they even have a sys to prevent this from happening? even hdb current one have people abusing the sys and this new scheme is even on a larger scale. how to ensure? i will think for this type, the unit cannot be big. max 2 rooms else v easy can be rented out. there will always be people abusing the sys.
i will expect if the pax have to go overseas for prolonged period of time liked 3yrs or so, is this subsidize unit going to be left vacant for 3yrs or its to be sold back to HDB to maximise the usage? afterall one shldnt be allowed to rent it out. however as the owner. dont think they will feel its fair to do so

sorry saw some posts thereafter but not free to sit down n read through at this moment.

 

[mccmmm]

These new house will not effect current open market prices

 

[tsuyuri]

years ago i got write something similar

SDP's plan = no profit
PAP = only about $$$

morally speaking i think singapore's land belong to its people and shouldn't be use as a profit generating mechanism.

 

[gravity_infinity]

These new house will not effect current open market prices

there will be some impact but i dont expect it to be large if we can fine tune and launch and limit nom conversion for those already in om.

 

[Shy_Shy]

If this is implemented, people will start complaining that home ownership that the gov always boast about is just rental flat where the gov is the owner and we r the tenant. Daft sinkies.

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[repentance]

If this is implemented, people will start complaining that home ownership that the gov always boast about is just rental flat where the gov is the owner and we r the tenant. Daft sinkies.

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It is already what it is. Denying it doesn't make it unreal.

 

[PiPiChew]

If this is implemented, people will start complaining that home ownership that the gov always boast about is just rental flat where the gov is the owner and we r the tenant. Daft sinkies.

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Doesn't matter what you call it. Rental or buying or owning or leasing. Same terms, but much cheaper. That's all that I care. Why make life so hard?

I can renovate all I like, paint all I like, lay CAT6 cable all over and conceal it all I like can liao. If I rent I doubt the landlord is happy if I do all these. But under this new scheme same conditions and possibly half price, I would take.

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[catzilla123]

what PAP can do is, after win erection, improve on this idea and implement it, claim full credit.