Keep HDB for rental or Sell HDB and buy condo

[new2mondrian]

People who think that there will continue to be widespread use of SERS must be in serious denial. Why would government want to do that?

Ginola, if you have made up your mind to retire in a condo, then do so. But a HDB with 53 years left will be hard to sell, unless u are willing to sell at depressed prices. You are better off tenanting it at 2k plus.

[anythingwhatever]

People who think that there will continue to be widespread use of SERS must be in serious denial. Why would government want to do that?

Ginola, if you have made up your mind to retire in a condo, then do so. But a HDB with 53 years left will be hard to sell, unless u are willing to sell at depressed prices. You are better off tenanting it at 2k plus.

Indeed. SERS at present only 0.4%, next time maybe only 0.2%.

I think going forward only City Core or City Fringe HDBs will get it.
(esp those lower rise ones sitting wastefully on Prime Lands)

Non-Mature Estates and High Rise ones can forget about it.

[teddybear]

They already trying very hard lah! Don't say they never try (as though they are not doing their job or do any work). Despite of that, and at current population of 5.6M population already have so many Singapore citizens unemployed!

If 10M population, are they going to hand out unemployment benefits to the Singapore citizens to pacify them?

You never try you never know.

[minority]

They already trying very hard lah! Don't say they never try (as though they are not doing their job or do any work). Despite of that, and at current population of 5.6M population already have so many Singapore citizens unemployed!

If 10M population, are they going to hand out unemployment benefits to the Singapore citizens to pacify them?

so many unemployed? base on what facts? facts you pull out of your ass????

2% is many? wow... then 3% is what everybody is jobless? WOW...... Speak from the ass ah u?

[teddybear]

minority,
Wow!
Didn't know you the BIGGEST LIAR here is still around to spill more LIES!!!!!!!!!!!!

Before you spill more LIES, why don't you clarify your previous LIES:

minority,
Since you are still around here, why not you confirm to us whether you are claiming that Olam has rigged its book in order to avoid paying taxes on capital injection???? (since you claimed that PUB must pay taxes on Gov's capital injection!)

Wow!
minority the BIGGEST LIAR here is still around and continue to spill more LIES??????

minority,
Since you are still around here, why not you confirm to us whether you are claiming that Olam has rigged its book in order to avoid paying taxes on capital injection???? (since you claimed that PUB must pay taxes on Gov's capital injection!)

The truth actually is, your statement suit you very well:
DONT COME F**K LIE LAH.

BLOODY LIAR!!!!

minority,

More bullshit from you? Ha ha ha!

If capital injection must be included as revenue/profit, then why Olam put "Capital Injection" as an item in "Cash flows from investing activities"?

You can see the FACTS here in Page 19:
http://49tmko49h46b4e0czy3rlqaye1b.w...eport_FY16.pdf

So, if based on what you said, capital injection must be included as revenue/profit, then are you telling us that Olam is then trying to avoid income taxes by putting "capital injection $" as "Cash flows from investing activities"?

You claimed that:

SHOW ME IN IRAS SAY GOVERNMENT CONTRIBUTION ARE NOT TAXABLE?? SHOW ME!!! PROVE ME WRONG!
...
COMPANY A NEGATIVE GET A CONTRIBUTION FROM COMPANY B AND A END THE BOOKS POSITIVE! SO SHOULD HAVE NO TAX!!!???? WTF LOGIC???


Based on what you claimed, Olam should have reflected the "capital injection $" into revenue/profit in Income Statement and pay the corporate income taxes for this amount! By putting "capital injection $" in "Cash flows from investing activities", Olam has avoided paying corporate income taxes for this amount!

So minority, are you accusing Olam of trying rig its book to avoid paying income taxes (and considering that Olam if majority-controlled by Temasek!)????????

minority,
Don't come here to bullshit to malign Olam and Temasek ok?!

OH HOW IS INJECTION INTO A COMPANY NOT BE CONSIDERED INCOME? DIDN'T THE BOOKS END UP POSITIVE AFTER??? SHOW ME IN IRAS SAY GOVERNMENT CONTRIBUTION ARE NOT TAXABLE?? SHOW ME!!! PROVE ME WRONG!


SO A F**K LIKE YOU RUN COMPANIES

COMPANY A NEGATIVE GET A CONTRIBUTION FROM COMPANY B AND A END THE BOOKS POSITIVE! SO SHOULD HAVE NO TAX!!!???? WTF LOGIC??? COZ BOOKS WAS POSITIVE BEFORE INJECTION???

AND COMPANY B WAS POSITIVE BUT AFTER THAT CONTRIBUTION TO A BECOME NEGATIVE??? SO NO TAX FOR COMPANY B TOO?????

DONT COME F**K LIE LAH.

FACT IS BOOKS WAS POSITIVE AFTER CONTRIBUTION THUS TAX ARE PAID!

SO DONT COME TWIST THE FACT THAT PUB WAS NEGATIVE BEFORE GOVERNMENT CONTRIBUTION!!!

COME COME U DONT AGREE I CHALLENGE U GO MAKE A POLICE REPORT ON CORPORATE FRAUD!!!! GO!!! SHOW US LEH!!!!


BLOODY LIAR!!!!

so many unemployed? base on what facts? facts you pull out of your ass????

2% is many? wow... then 3% is what everybody is jobless? WOW...... Speak from the ass ah u?

[Ginola]

People who think that there will continue to be widespread use of SERS must be in serious denial. Why would government want to do that?

Ginola, if you have made up your mind to retire in a condo, then do so. But a HDB with 53 years left will be hard to sell, unless u are willing to sell at depressed prices. You are better off tenanting it at 2k plus.

What if I sell the HDB, get a 1 bedroom condo (for rental) at about the same price as HDB (maybe need to top up a bit), then I will have a slightly new property compared to the 53 years HDB. By doing so, I will renew my property portfolio. Understand that there will be 7% ABSD for 2nd property. Still not decided yet as HDB is still tenanted out.

I believe that capital appreciation should be more for condo than HDB at current situation.

[Kelonguni]

Capital appreciation definitely condo better.

But yield wise HDB definitely much much better.

Analyse and proceed carefully.

What if I sell the HDB, get a 1 bedroom condo (for rental) at about the same price as HDB (maybe need to top up a bit), then I will have a slightly new property compared to the 53 years HDB. By doing so, I will renew my property portfolio. Understand that there will be 7% ABSD for 2nd property. Still not decided yet as HDB is still tenanted out.

I believe that capital appreciation should be more for condo than HDB at current situation.

[Developer]

Can I also ask the experts here a relevant question?

How do you calculate the number of years of an HDB flat? Is it from the year when the first owner bought it or from a few years back, i.e. plus the few years of construction? And if it's the latter case, where can we check the accurate number of years?

I am also considering whether to sell my HDB, and my unit is in its 30's. So the few years matter in my case. Thanks a lot for your help.

[Kelonguni]

Agents definitely can check. I think there is a portal somewhere.

Or can ask HDB office. Email also can I think.

Can I also ask the experts here a relevant question?

How do you calculate the number of years of an HDB flat? Is it from the year when the first owner bought it or from a few years back, i.e. plus the few years of construction? And if it's the latter case, where can we check the accurate number of years?

I am also considering whether to sell my HDB, and my unit is in its 30's. So the few years matter in my case. Thanks a lot for your help.

[Arcachon]

Can I also ask the experts here a relevant question?

How do you calculate the number of years of an HDB flat? Is it from the year when the first owner bought it or from a few years back, i.e. plus the few years of construction? And if it's the latter case, where can we check the accurate number of years?

I am also considering whether to sell my HDB, and my unit is in its 30's. So the few years matter in my case. Thanks a lot for your help.

https://services2.hdb.gov.sg/webapp/...PSPCPLogin.jsp

[2824]

I think it is supposed to be the date from which the keys are ready or supposed to be collected, ie construction period not included.

[Developer]

Many thanks to Kelonguni, Arcachon and 2824.

Will send a message to HDB through their website to confirm.

Good night.

[Laguna]

I think it is supposed to be the date from which the keys are ready or supposed to be collected, ie construction period not included.

Yup...ur right

[new2mondrian]

What if I sell the HDB, get a 1 bedroom condo (for rental) at about the same price as HDB (maybe need to top up a bit), then I will have a slightly new property compared to the 53 years HDB. By doing so, I will renew my property portfolio. Understand that there will be 7% ABSD for 2nd property. Still not decided yet as HDB is still tenanted out.

I believe that capital appreciation should be more for condo than HDB at current situation.

Totally up to u since different folks have different risk appetites, household income stability and expenditure levels.

But IF I were you, the interests of the kids and family take precedence. Which means there are many other soft factors such as ample space for the four kids to study/play/grow, the location of the kids' schools, and proximity to amenities (since wife stays at home) becomes paramount to the tenure of the flat. To move to a new place is disruptive. Getting a place that provides similar living spaces, at current market prices, will not come cheap, especially if you are looking at Queenstown. Likewise, I am not sure about your job stability. $7k per month household income for a family of 6 can be rather tight. If you lose your job, servicing multiple loans can be traumatic for the family. Hence my remark last night that a good night's sleep is priceless.

IF I were you, I will apply for a brand new HDB (5 room or bigger), that is in a mature estate and the unit being not too far from mrt. This matters when the kids reach secondary school, and will be taking public transport. I will sell both the condo and old flat, and place the surplus funds in a guaranteed or capital protected instrument.

But because I am not you, it is best that you make this decision in consultation with your spouse and family. I think that will yield the most optimised outcome.

[Arcachon]

I think it is supposed to be the date from which the keys are ready or supposed to be collected, ie construction period not included.

Nope.

HDB sell the property land for 103 years lease.

Developer then build the HDB flat.

Then when finish hand over to owner.

Lease start from DDMMYYYY sold to Developer(103)-4 years= Lease start date

My unit was completed before the 99 years. I took the key in Nov 1996 but lease start from 01 Jul 1997

Blk 27 Balam Rd S(370027)

Lease Start Date : 01 Jul 1997
Lease Duration : 99 years
Remaining Lease : 78 years (as at date of enquiry)

https://services2.hdb.gov.sg/web/fi10/emap.html

Click housing

Click the red housing belonging to your block

Flat Type 5-Room Flat Model Improved
Approximate Floor Area 126 m2
Date Of Application 25 Oct 1993
Date Of Purchase 01 Nov 1995
Purchase Price $225,600
Premium 10% of Purchase Price $225,600 instead of levy of the selling price.

[Arcachon]

Nope.

HDB sell the property land for 103 years lease.

Developer then build the HDB flat.

Then when finish hand over to owner.

Lease start from DDMMYYYY sold to Developer(103)-4 years= Lease start date

My unit was completed before the 99 years. I took the key in Nov 1996 but lease start from 01 Jul 1997

Blk 27 Balam Rd S(370027)

Lease Start Date : 01 Jul 1997
Lease Duration : 99 years
Remaining Lease : 78 years (as at date of enquiry)

https://services2.hdb.gov.sg/web/fi10/emap.html

Click housing

Click the red housing belonging to your block

Flat Type 5-Room Flat Model Improved
Approximate Floor Area 126 m2
Date Of Application 25 Oct 1993
Date Of Purchase 01 Nov 1995
Purchase Price $225,600
Premium 10% of Purchase Price $225,600 instead of levy of the selling price.

should be key collected on 01 Nov 1995

Loan Granted
$ 200,000.00

Loan Commencement Date01 Nov 1995
Loan Expiry Date 31 Oct 2020
Repayment Period
25 Yrs

Balance Repayment Period
3 Yrs 3 Mths

Interest Rate (per annum)
(Concessionary)

2.60 % as at 31 Jul 2017

Monthly Instalment
$ 923.00

[Arcachon]

MOP start from loan payment that is key collection date not from 99 years lease.

[Arcachon]

Subsidised flat sold before 3 March 2006

You can choose to pay the resale levy at the point of resale or defer the payment until you buy another flat from HDB. If you opt to defer the payment, interest at the prevailing rate of 5% per annum will be charged.

[Hakuho]

I think it is supposed to be the date from which the keys are ready or supposed to be collected, ie construction period not included.

Correct.

The lease of a rental starts from the day the tenant takes possession of the unit.

Any kind of rentals; house, car etc.

[Arcachon]

Correct.

The lease of a rental starts from the day the tenant takes possession of the unit.

Any kind of rentals; house, car etc.

Incorrect, rental you cannot sell but HDB lease is a special lease where you can sell subject to approval.

[Developer]

In response to my earlier email enquiry, an HDB officer called me today to inform that HDB lease starts on a date around the date of its completion. That date is fixed by HDB and is not exactly the date of key collection, but I guess there shouldn't be much difference.

Thanks all for your information.

[Ginola]

Hi everyone,

It has been 5 years since I posted on this topic. Just for update and sharing.

Actions that we took.

1. We sold our HDB with 49 years remaining balance. We are lucky that we managed to sell it. Similar size unit sold this year price dropped by $100k. So, price dropping due to remaining balance lease is real. Yearly rental could not cover the actual price drop $26k/year rental vs $100k actual price drop.

2. We did decoupling. Wife bought a new launch 1 bedroom condo, TOP 2023. I took over our current condo.

Thanks for everyone's views.