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Thread: parliment monitoring hdb owners with private property..

  1. #1
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    Default parliment monitoring hdb owners with private property..

    hmm one speaker of parliment suggsted hdb owners who own private should sell hdb and not be allowed to rent and collect income....SIAO LIAO if that happens...

  2. #2
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    Good ....they spotted that big glaring loophole

  3. #3
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    if one need the hdb rental to service the condo mortgage.. how?
    golden goose to slaughter soon..

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    Then resale hdb will be back to normal

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    Like that HDB resale COV may drop, price may soften...these owners with private property will have more cash after selling their HDB, more $ to invest in private property? MM and OCR up some more?

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    Quote Originally Posted by radha08
    hmm one speaker of parliment suggsted hdb owners who own private should sell hdb and not be allowed to rent and collect income....SIAO LIAO if that happens...
    it long time they plug this loop hole...ha ha..cheap hdb for all if this materialise

  7. #7
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    What is the % of such breed of people. I think it is low.

  8. #8
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    Very. High, it v common

  9. #9
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    yeah ... public housing is finally for people who cannot afford private housing.... as it should be worldwide.....

  10. #10
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    Agreed...public subsidy Hdb and pte owner just dont gel logically.

  11. #11
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    Not logical, i may have 4r hdb but buy mm for hedging inflation ... so does that mean i must sell my 4r hdb and move into MM?

    luckily you guys don't work for MND
    Ride at your own risk !!!

  12. #12
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    hmm the way i look at it every system has its loop holes...its just whether u can outsmart the authorities to ur own personal advantage........its a dog eat dog world........the fittest survive....

  13. #13
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    Just raised the mop lah, less speculators will zoom in on that class of housing then.

  14. #14
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    It is a highly dangerous business at MND. The authorities seem to have problem with people owning hdb and pc. First, it was disallow downgrading from pc to buy hdb. Now its gonna be the other way? They don't know what they are asking for. If all who own pc sell their hdb, the supply surge can be in the region of several thousands. Then who will need to account again?

  15. #15
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    How about disapproving ownership of public housing if the owners have left the country and show no signs of returning?

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    if this is plugged, HDB drops a bit, pte properties follow

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    From 2005-2008 we took in 500,000 SPRs with probably only 5,000 BTO per year, so in next 5y, we are going to build a total of 100,000 BTOs, but don't forget every year we have 15k new marriages (partly satisfied by PC) ...

    We are building the entire AMK town supply of BTOs but it will come into market 8y later ... tell me what else can you do to stop resale price from going up, in fact those who sell now is plain silly ... 200k COV will come soon if going forward those who buy BTOs cannot own both HDB/PC
    Ride at your own risk !!!

  18. #18
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    Quote Originally Posted by phantom_opera
    200k COV will come soon if going forward those who buy BTOs cannot own both HDB/PC
    tot is the other way round?

    -200k cov is coming soon

  19. #19
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    Quote Originally Posted by phantom_opera
    200k COV will come soon if going forward those who buy BTOs cannot own both HDB/PC
    Care to elaborate? 200k cov is certainly tempting to every hdb owner. Why should I buy BTO if I already have PC?

  20. #20
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    Quote Originally Posted by phantom_opera
    Not logical, i may have 4r hdb but buy mm for hedging inflation ... so does that mean i must sell my 4r hdb and move into MM?

    luckily you guys don't work for MND
    Not if you stay in your HDB but rent out your MM instead.

    This has always been the rule which was lifted around 2003, when MND decided that HDB owners after fulfilling MOP can buy PP and rent out there HDB but stay in PP. At that time there was a huge oversupply of HDB.

    HDB is meant to be basic and affordable public housing, the original intent was not to monetise it through rental. This is indeed a big loophole that was not plugged in fact facilitated by MND. This is one of the reasons for the crazy escalation of properties in the last few years. Seems to me very logical to plug this loophole.

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    Quote Originally Posted by howgozit
    Not if you stay in your HDB but rent out your MM instead.

    This has always been the rule which was lifted around 2003, when MND decided that HDB owners after fulfilling MOP can buy PP and rent out there HDB but stay in PP. At that time there was a huge oversupply of HDB.

    HDB is meant to be basic and affordable public housing, the original intent was not to monetise it through rental. This is indeed a big loophole that was not plugged in fact facilitated by MND. This is one of the reasons for the crazy escalation of properties in the last few years. Seems to me very logical to plug this loophole.
    if HDB cannot rent out when owning PC, where 500k immigrants going to stay
    Ride at your own risk !!!

  22. #22
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    Quote Originally Posted by phantom_opera
    if HDB cannot rent out when owning PC, where 500k immigrants going to stay
    This is not an MND problem lah bro...

  23. #23
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    Quote Originally Posted by howgozit
    This is not an MND problem lah bro...
    Of coz its MND's problem coz it will be govt's problem and MND is part of govt. The current shortage is precisely because all the different ministries operated individually and too little cross-ministry interaction. To avoid such demand/ supply issues in future, the govt cannot afford to operate individually but greater communication across different ministry is necessary.

  24. #24
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    Quote Originally Posted by devilplate
    tot is the other way round?

    -200k cov is coming soon
    COE is already 75k so whats 200k COV...

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    if hope hdb won't slaughter my hdb cash cow. To me it is illogical for hdb to stop ppl from renting hdb, govt cannot force ppl to live wherever they want them to live. There is nothing in the law that says ppl who start off from humble beginnings and live in hdb must later sell their hdb to live in private. I think if they start intervening in this aspect, they are overdoing it liao

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    i hope hdb won't slaughter my hdb cash cow. To me it is illogical for hdb to stop ppl from renting hdb, govt cannot force ppl to live wherever they want them to live. There is nothing in the law that says ppl who start off from humble beginnings and live in hdb must later sell their hdb to live in private if they do better in life. I think if they start intervening in this aspect, they are overdoing it liao

  27. #27
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    Quote Originally Posted by Regulators
    i hope hdb won't slaughter my hdb cash cow. To me it is illogical for hdb to stop ppl from renting hdb, govt cannot force ppl to live wherever they want them to live. There is nothing in the law that says ppl who start off from humble beginnings and live in hdb must later sell their hdb to live in private if they do better in life. I think if they start intervening in this aspect, they are overdoing it liao
    For Singaporeans its ok can term it as reaping the fruits of success. But for PR

  28. #28
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    Quote Originally Posted by HP65
    Of coz its MND's problem coz it will be govt's problem and MND is part of govt. The current shortage is precisely because all the different ministries operated individually and too little cross-ministry interaction. To avoid such demand/ supply issues in future, the govt cannot afford to operate individually but greater communication across different ministry is necessary.
    Come again??... forreigner's accomodation needs are MND's problem???

    How can that be? It is not in MND's purview to cater HDB as potential rental supply for foreigners.

    Without a doubt all factors are interlinked, more so in this tiny island state of ours, you can't change one thing without affecting another. By your reasoning, you might as well bllame MOH or even SAF since they are all government.

  29. #29
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    Quote Originally Posted by Regulators
    i hope hdb won't slaughter my hdb cash cow. To me it is illogical for hdb to stop ppl from renting hdb, govt cannot force ppl to live wherever they want them to live. There is nothing in the law that says ppl who start off from humble beginnings and live in hdb must later sell their hdb to live in private if they do better in life. I think if they start intervening in this aspect, they are overdoing it liao
    I think it is unlikely that they will do so bcoz there are too many people are doing it. There is a big political price.

    However, this is not a new "intervention", this is the original HDB rule. Previously unless you are overseas, you can't rent out your whole HDB but you may rent out the rooms. So many people "cheat " the system by closing up one room to keep up the pretense of "still staying" there while in actual fact staying in a private property.

    Whether it is overdoing or not is subjective but it certainly is not illogical. It is simply a reversion of an old rule which can easily circumvented as illustrated above.

  30. #30
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    Every vote is important for now.
    So it's build, build, build by KBW.
    Price will be supported by new families - and PRs.
    If prices drops slightly - its good, can justify.
    Only can fail politically if prices were to collapse...this is what MBT avoided at all cost. But paid the price for his 'price-protection' policy.

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