View Full Version : Don't sell your HDB flat, Mr Lee tells resident
Better listen to the old man:
Don't sell your HDB flat, Mr Lee tells resident
Former PM gives advice during visit to Sers project in Holland Drive
By Andrea Ong
Businessman Lim Tow Nam, 53, moved into his new, spacious flat on the 38th floor of Block 18C in Holland Drive earlier this year, after living in his old flat a stone's throw away for around 20 years.
He and his family love the breathtaking view from their five-room flat - they can see as far as Sentosa and Keppel Bay. Holland Village is nearby, while the new Holland Village MRT station and Buona Vista MRT station are both within walking distance.
Mr Lim's parents and two sisters live in three separate flats in the same block. The family have dinner every night at his parents' flat. Mr Lim bought his new flat for just $380,000 - a subsidised price for residents under the Selective Enbloc Redevelopment Scheme (Sers). His old flat had cost him about $165,000.
The Sers project rehouses residents from six old blocks near Holland Village in four new high-rise blocks in Holland Drive. On Sunday, Mr Lim had words of advice from none other than former prime minister Lee Kuan Yew, who visited him in his flat in the early evening. 'He told me, don't sell. The price will go up,' Mr Lim told The Straits Times.
How to sell when HDB prevents me from buying in e 1st place! :mad: PRs have more privilege than me. Wasted my time serving NS. I still have to protect their HDBs!
How to sell when HDB prevents me from buying in e 1st place! :mad: PRs have more privilege than me. Wasted my time serving NS. I still have to protect their HDBs!
many PR looked at their status and scrutinize the system to maximi$e and milk all they can get out of their status, while citizens just work and work...go along withe flow....
PR: is like a passport to making $...for many...:2cents:
How to sell when HDB prevents me from buying in e 1st place! :mad: PRs have more privilege than me. Wasted my time serving NS. I still have to protect their HDBs!
In what way?
ikan bilis
07-11-11, 08:20
In what way?
think only 2-ways...
1. own (or partial ownership of) private properties
2. remain single
and,
see this halland drive case, bought his SER 5rm at 380K, similar 30+yr old resale flats easily cost 750K...
after MOP (think could be 7yrs for SER), his 5rm flat should be more expensive than my condo larger in size... :banghead:
good location bto hdb is always more $$-making than mass market condo... :D
(could we be caught in a huge shortage of resale hdb because ESM-Lee ask people not to sell?? :scared-4: )
Stay in Tanjong Pagar ward or GRC has many privileges,.., seem that most residents there have benefitted more than rest..., Pinnacle..., Holland Village SERS, all "pao chiat " project..., $urely rich in a$$et$....:2cents:
....... 'He told me, don't sell. The price will go up,' ......
I am curious, when the price goes up, then what? :beats-me-man:
Ministers' job is to make sure the price goes up and, recently, also to make it "affordable".
I'm not happy that I don't qualify to buy even though I'm a tax-paying Singaporean who is born, studied and works here. :( I don't mind subsidizing for Singaporeans who are in need but it doesn't make sense to subsidize for PRs and couples earning combined income of 12K?!:mad:
devilplate
07-11-11, 08:50
Ministers' job is to make sure the price goes up and, recently, also to make it "affordable".
I'm not happy that I don't qualify to buy even though I'm a tax-paying Singaporean who is born, studied and works here. :( I don't mind subsidizing for Singaporeans who are in need but it doesn't make sense to subsidize for PRs and couples earning combined income of 12K?!:mad:
i tot no income ceiling when PR buying resale flats?
And toking abt pr having more privilege.....discussed before oredi la.....tat time worsty said so and i oredi dig out the case and PR dun have priviledge over citizens lah
Single unmarried PR can buy resale flat meh? PR own pte ppty can buy resale flat meh? Whereas single unmarried citizen can buy resale flat after 35yo....can single pr do so?
and,
see this halland drive case, bought his SER 5rm at 380K, similar 30+yr old resale flats easily cost 750K...
I don't mind subsidizing for Singaporeans who are in need but it doesn't make sense to subsidize for PRs and couples earning combined income of 12K?!:mad:
since when PR can buy BTO.... PR only can buy resale HDB right.
$750k resale leh, if PR want to buy, let them buy lor :D
ikan bilis
07-11-11, 08:50
I am curious, when the price goes up, then what? :beats-me-man:
- hdb is for own stay, => don't sell
- after MOP, stay in condo and rent out hdb, => don't sell, just milk it
- assets can be in any form: ca$h, shares, property; and hdb is very capital protected => don't sell
- got free upgrade, or you might strike lottery when holding it: "SER" => don't sell
- HDB is very "Inflation-hedging" => don't sell
- Even you very suay-suay kena bankruptcy! creditor cannot liquidate your HDB (especially loan with HDB/CPF) => don't sell
- when you really need $$ and no choice => then sell
;) :D
How to sell when HDB prevents me from buying in e 1st place! :mad: PRs have more privilege than me. Wasted my time serving NS. I still have to protect their HDBs!
Same here, I want also cannot buy! :mad:
devilplate
07-11-11, 08:55
I am curious, when the price goes up, then what? :beats-me-man:
telling u dun sell and bunk in into ur relative hse or worse still rent a place bcoz px will not come down?
devilplate
07-11-11, 08:57
Same here, I want also cannot buy! :mad:
last time i want also cannot buy la.....den after owning pte ppty also cannot apply bto.....whahaha
U must remember tat hdb r primarily for families to procreate wat.....whahahhaha
Allthepies
07-11-11, 09:52
since when PR can buy BTO.... PR only can buy resale HDB right.
$750k resale leh, if PR want to buy, let them buy lor :D
Yup actually should encourage more PR to buy the 750k resale : ) hee hee so "poor" sing citizens got chance to move up to condo :D
Although I do hope we who contributed quite a lot to taxes should be allowed to buy HDB too :cheers1:
rattydrama
07-11-11, 13:35
ah man had mentioned "dont sell" recently, before election, and this is nothing new.
I am curious, when the price goes up, then what? :beats-me-man:
price up = happiness index up.
ppl feel more shong..."my hdb worth xxxk":D
Pardon my frankness,
If hdb in ccr, rcr, hold and dont sell is good idea.
If ocr but near to industrial park, office eg jurong, tamp,that should hold too.
If in remote and not near to industrial belt, then hold to rent to who ...?
My 2 cent view
phantom_opera
07-11-11, 14:14
Thanks to New line like circle line mrt, previously hdb nobody wants now become rental hotcakes
:D
Thanks to New line like circle line mrt, previously hdb nobody wants now become rental hotcakes
yup and with more mrt lines to come...sky is the limit...:cheers1:
Bo Bian. Hope friend basic got read newspaper. Based on political reason they've incentives to keep price highto retain votes. If friend basic prophecy din come true by 2013 there is no way 1 year before election 50% firesale for him
Bo Bian. Hope friend basic got read newspaper. Based on political reason they've incentives to keep price highto retain votes. If friend basic prophecy din come true by 2013 there is no way 1 year before election 50% firesale for him
don't worry for me, worry for yourself....
LKY already changed & gone case to me....he used to believe in law by law so much, prudent & stick to the rule....now look at him, everything is based on relationship, QuanXi is utmost important to him....he becomes a snake oil salesman to me....spore will down to drain with such mentality changed....
LKY famous called for property is 2007, we are in golden era....if not because of US FED QE, we are down to hell today....luckily the chow botak saved him a bit, but time is running out now....now the old cancer comes back to haunt us now, a bigger gigantic DEBT crash is unavoidable now...can't do anything, only can buy time & no much time left....
don't worry, property price down >50% in 2-3 yrs time is still on schedule....if can wait >3 yrs, down will be even more.....:)
Pardon my frankness,
If hdb in ccr, rcr, hold and dont sell is good idea.
If ocr but near to industrial park, office eg jurong, tamp,that should hold too.
If in remote and not near to industrial belt, then hold to rent to who ...?
My 2 cent view
so far he is telling residents in his ward "don't sell".
i tot no income ceiling when PR buying resale flats?
And toking abt pr having more privilege.....discussed before oredi la.....tat time worsty said so and i oredi dig out the case and PR dun have priviledge over citizens lah
Single unmarried PR can buy resale flat meh? PR own pte ppty can buy resale flat meh? Whereas single unmarried citizen can buy resale flat after 35yo....can single pr do so?
Married pr can buy flat, unmarried singaporean under age 35 cannot.
Hdb is considered subsidized housing regardless of whether there is additional subsidy that can be claimed.
devilplate
08-11-11, 08:39
Married pr can buy flat, unmarried singaporean under age 35 cannot.
Hdb is considered subsidized housing regardless of whether there is additional subsidy that can be claimed.
u r not comparing apple to apple liao lor.....must compare married vs married
HDB definitely subsidized la.....tats y only married PRs can buy and foreigners(non-PRs) totally cannot touch....and there is no income ceiling to PRs la......but i last time said HDB shd include income ceiling for PR to buy resale flats
Regulators
08-11-11, 08:45
My 4A hdb flat so near to shopping mall and mrt, exactly five minutes walk, it is so convenient so no point selling for now. The problem is what happens to the value of the flat when it becomes 40 years old and the govt doesn't en bloc? There is nothing under hdb policy to say that hdb blocks after a certain number of years will get en bloc right? If PM's idea is for us to continue holding our hdb flats, I am sure he has some capital protection plan in place for 80% of the population even if there is no sers. My guess would be to allow lease top up coz it would be a win win situation and govt can also earn more. Let us not forget that hdb blocks are built to last for hundreds of years.
devilplate
08-11-11, 08:52
My 4A hdb flat so near to shopping mall and mrt, exactly five minutes walk, it is so convenient so no point selling for now. The problem is what happens to the value of the flat when it becomes 40 years old and the govt doesn't en bloc? There is nothing under hdb policy to say that hdb blocks after a certain number of years will get en bloc right? If PM's idea is for us to continue holding our hdb flats, I am sure he has some capital protection plan in place for 80% of the population even if there is no sers. My guess would be to allow lease top up coz it would be a win win situation and govt can also earn more. Let us not forget that hdb blocks are built to last for hundreds of years.
hit 40yrs not so bad(only affect younger buyers whereby their CPF cannot be fully utilised for ppty purchase)....the next critical age is 60yo......where banks dun lend anymore:scared-4:
Regulators
08-11-11, 09:09
For hdb owners, only two ways govt can help to protect capital, lease top up or sers. I think the loan issue can be tweaked with govt acting as guarantor.
hit 40yrs not so bad(only affect younger buyers whereby their CPF cannot be fully utilised for ppty purchase)....the next critical age is 60yo......where banks dun lend anymore:scared-4:
devilplate
08-11-11, 09:11
For hdb owners, only two ways govt can help to protect capital, lease top up or sers. I think the loan issue can be tweaked with govt acting as guarantor.
i believe HDB no worries.....80% of our population owns a HDB.....
its our pte ppty.....the minority.....hehehe
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