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Thread: Monetise your HDB home is it over, why?

  1. #1
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    Default Monetise your HDB home is it over, why?

    Here’s What Older Folks in Singapore Should Know About Their Homes as They Plan for Retirement

    https://blog.moneysmart.sg/property/...an-retirement/

    https://www.mnd.gov.sg/yourhousingjourney/

  2. #2
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    wow, long post.

    Chua Bee Kay John

    To think that every HDB Estate old blocks of flats will be en blocked under the SERS schemes is just wishful thinking.

    It cannot be done, due to just too many and will cost too much.

    Lastly, it is like doing subsidies and benefits to a generation of citizen twice over..

    The acronyn of SERS stands for
    "Selective En Block Redevelopment Scheme".

    The word "Selective" is already very clear and qualified.

    Recently, a Minister had warned potential buyers about not expecting SERS to kick in for all old estates, is done not in good faith and I personally think done with suspect intentions.

    This are my reasonings:-

    1. The potential buyers of resale flats are most well educated and usually well informed.

    2. This group of buyers, will do their home work and usually very savvy about their choice and had no worry about affordability. All they wanted is a better lower deal and the Minister warning as honey to their ears.

    3. The warnings from the Minister had suddenly "wake-up" with repercussions.
    Suddenly, all old flats above the value less year suffered a blow to their sales valuations not matter their locations in SINGAPORE.
    It does not matter, but for those that needed the money, through such a sales to tide over a financial difficulties, is like turning snow to ice to their already collapsing roof.

    4. The HDB resales market is showing signs of improvements after many years of performance. Resales valuations was trending up but still manageable, I done not see the need for a Minister to shut down the trending yet.
    5. I SUSPECT, the Honourable Minister is doing this to lower the future SERS acqisitions Costs for the Government.

    For every $30,000 dropped of one unit of a re-sale flat done over a performance period of pending acquistions, the government stand to GAIN $30,000/- X 120 units for the standard unit block, a savings of $3.6M for Each Block that they so designated to exercise their executive power to do SERS.
    Is this his AGENDA, when he state the obvious of the obvious about the 99 year lease, to warn the minuscule potential buyers ?, or to progressively LOWER the Compensations Package Costs to any Old HDB Estates they had the need to do the SERS process.

    To the Government of Singapore:-,
    I do not see the SERS as scheme to upgrate the living standards of Living of the affected citizenry.
    My take is, the Government is seizing the Huge Financial Gains that can be derived in such HDB estates'renewals.
    How?.
    3 HDB blocks of land occupied, can be rebuild with a single block (can be more) of 30 storey block with as many units required as One to One replacement as demanded. The remaining 2 block is Land can be similarly built and sold as new units to be offered for new qualifying applicants.
    I am quite sure, the Government make substantial GAIN$ for each $ER$ project exercised to-date.
    Why are you still trying to reduce the values of ALL OLD FLATS in SINGAPORE to reduce value of the compensations of the miniscule of SERS potential ?.
    I see your speech and warning as "Stating the Obvious" to warn and pressure the sellers to reduce their expectations from now, but the AGENDA is to REDUCE the Compensations Package offers.

    The Citizens of Singapore play stupid to have a comfortable unpolitical life. The minute they wake-up to the truth of deceptive Public Policies, they may decide to take issues and protest , fire fighting will then becomes the tedious affairs of the State Governing Resources and set this, to-date, Well governed Sovereign from a mostly Cmompliant Citizenry into a Quarrelsome and FULL of Complains Citizens.
    Last but not least, I am for and support Highly Paid Ministers, but they must proof that the are Capably Qualified and make Good Policies to uplift the Standard of Living for All and Sundry Citizens of SINGAPORE.
    THE JOB IS DAUNTING,
    PLEASE DO NOT BE FOUND OUT AS WANTING
    as they are far too many previously dormant, knowledgeable and quite citizen like me, because slowly and surreptitiously, the Governance and new Changes are stepping on the already painful toes of most poor Singaporeans.
    We are not averse and against changes, but they have to be Fair and Justified.
    SUKA SUKA ( arbitrarily in the Malay Language = "as you like it") changing policy and goalposts firmly set in the 60 sixties affecting the old and not so well educated should be done with considerated magnanimity, otherwise their seemingly harmless but daily cursing about the Cost of Living, may transcend to their children with the false precepts of the issues of high paid governance but getting sub- standards and care less officials.

    Thank you for reading my vexatious post.
    My toes was stepped, just as I am in the process of starting selling my very old flat and found the just rising pricing starting to fall.
    You should read it cynically, but be aware of being slowly but surely taken for an expensive ride, by a new governance of always passing the burden$ to the silent poor majorities.

    Thank you once again.

    https://www.facebook.com/chuabkjohn/...16968877234842

  3. #3
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  4. #4
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    During the year, the HDB raised S$6 billion and redeemed S$0.85 billion of unsecured Fixed Rate Notes. Total outstanding Notes under the Medium Term Note Programme was S$14.39 billion as at March 31.

    https://www.todayonline.com/singapor...ficit-recorded

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