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153 replies to this topic | 155 praises

#1

Posted 02 January 2018 - 01:51 PM

Lmws214
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Ongoing argument about whether Singaporeans really own their HDB flats, or whether they're just renting them on a lease.

 

One thing that tips the balance in favour of the latter argument is the fact that the HDB has the right to confiscate or repossess your flat if you do something unacceptable in the eyes of HDB, the Big Brother.

 

 

http://www.asiaone.c...?xtor=EREC-16-4[Emarsys_Newsletter]-20180102&extid=6934d0cfb7b252f1ae9f0dbddf5ff88ca8637e77


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#2

Posted 02 January 2018 - 02:18 PM

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From what I heard, they will pay you valuation price with no makeup and then repo your flat in short notice. You still get back your money but will not earn anything from it.

#3

Posted 02 January 2018 - 02:27 PM

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can still earn but everything goes back into CPF since its based on valuation price. then wait donkey years to be able to touch that money.



#4

Posted 02 January 2018 - 02:34 PM

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From what I heard, they will pay you valuation price with no makeup and then repo your flat in short notice. You still get back your money but will not earn anything from it.

You mean after the 99 years is up say in 2040, HDB will pay me the valuation of my flat? Say is a 5 room flat and market price at that time say in 2040 is SGD450,000. HDB will pay me this price.

 

 

Note : Assumption on the price here.


can still earn but everything goes back into CPF since its based on valuation price. then wait donkey years to be able to touch that money.

by that time, say I am retired, the excess above the min sum will be paid to me right...?



#5

Posted 02 January 2018 - 02:39 PM

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You mean after the 99 years is up say in 2040, HDB will pay me the valuation of my flat? Say is a 5 room flat and market price at that time say in 2040 is SGD450,000. HDB will pay me this price.

 

 

Note : Assumption on the price here.


by that time, say I am retired, the excess above the min sum will be paid to me right...?

 

HDB pay you almost half a million in 2040? means you live there for FREE?

 

Wait long long ah!!!

 

likely you get almost zero or a nominal sum.



#6

Posted 02 January 2018 - 02:46 PM

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You mean after the 99 years is up say in 2040, HDB will pay me the valuation of my flat? Say is a 5 room flat and market price at that time say in 2040 is SGD450,000. HDB will pay me this price.

 

 

Note : Assumption on the price here.


by that time, say I am retired, the excess above the min sum will be paid to me right...?

 

Technically HDB will pay u the valuation... cos the valuation of a flat left with 0 years of lease will be $0.... 


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#7

Posted 02 January 2018 - 03:02 PM

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Ongoing argument about whether Singaporeans really own their HDB flats, or whether they're just renting them on a lease.

 

One thing that tips the balance in favour of the latter argument is the fact that the HDB has the right to confiscate or repossess your flat if you do something unacceptable in the eyes of HDB, the Big Brother.

 

 

http://www.asiaone.c...?xtor=EREC-16-4[Emarsys_Newsletter]-20180102&extid=6934d0cfb7b252f1ae9f0dbddf5ff88ca8637e77

 

With regards to the former, if Singaporeans don't own the flat then how come we can sell it? To me, you cannot sell what you do not own. 

 

But then again, HDB themselves also refer to owners as "lessors".

 

And also just to highlight that even those leasehold private property is also the same in HDB in the sense that after the lease term expires you have to return it to government. So are they owners or lessors?

 

Sorry, if any of my above is wrong. I no expert, just providing a man-on-the-street view.


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#8

Posted 02 January 2018 - 03:12 PM

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as long as leasehold, then no diff between HDB or private in terms of zero value when lease is up.

 

Those who says HDB are leased & not owned are just kopitiam talks.



#9

Posted 02 January 2018 - 03:16 PM

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You mean after the 99 years is up say in 2040, HDB will pay me the valuation of my flat? Say is a 5 room flat and market price at that time say in 2040 is SGD450,000. HDB will pay me this price.


Note : Assumption on the price here.

by that time, say I am retired, the excess above the min sum will be paid to me right...?

Valuation - not market price - in 2040 will definitely be different from 2018 ... Further more, flats older than 50years command lesser price also.

Edited by Ysc3, 02 January 2018 - 03:17 PM.


#10

Posted 02 January 2018 - 03:49 PM

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Rather than confiscate I propose hdb temporarily 'take over' flats of some extreme types of dwellers - those mentally unstable and without support to the extent they are a threat to their neighbours' lives and well-beings eg killer litterers, hoarders, those looking for fights 24/7.

Hdb then rent them out, takes a cut and income could be used to pay for their stay in assisted homes.. till they recover/die and flats then handed back

#11

Posted 02 January 2018 - 03:59 PM

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garment always emphasize that SG has one of the highest home ownership % in the world. so whatever the actual situation is, garment will always make it sound like we own our HDB flat. 


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#12

Posted 02 January 2018 - 04:30 PM

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In theory, you also don't own that 999 / in perpetuity piece of land if the government wants to take possession for the purpose of public good / development.

 

* shrug * 

[laugh]



#13

Posted 02 January 2018 - 04:43 PM

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With regards to the former, if Singaporeans don't own the flat then how come we can sell it? To me, you cannot sell what you do not own. 

 

But then again, HDB themselves also refer to owners as "lessors".

 

And also just to highlight that even those leasehold private property is also the same in HDB in the sense that after the lease term expires you have to return it to government. So are they owners or lessors?

 

Sorry, if any of my above is wrong. I no expert, just providing a man-on-the-street view.

 

Your answer is here:

 

http://www.straitsti...eyond-semantics

 

In short, you are the owner, but "lessee" is an accurate technical term that depicts an owner of a 99 year lease property.

 

It is just that some people tend to link the word lessee with rental, and then make a story that they are all only renting a flat from HDB, not real owners. To me that's just some kopi talk rant.  If you are not recognised as owner, you will not be able to sell it too.


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#14

Posted 02 January 2018 - 04:59 PM

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as long as leasehold, then no diff between HDB or private in terms of zero value when lease is up.

Those who says HDB are leased & not owned are just kopitiam talks.




Some people even say our cars are leased from the govt so all that matters is the monthly “lease” leh.

I very stupid one, keep buying full cash becos i dont like to lease, i like to own.

Plse tell me i am not wrong

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#15

Posted 02 January 2018 - 05:02 PM

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Some people even say our cars are leased from the govt so all that matters is the monthly “lease” leh.

I very stupid one, keep buying full cash becos i dont like to lease, i like to own.

Plse tell me i am not wrong

😫😆

 

Means that you make at least more than whatever the car loan interest rate is.   :D

 

Not wrong or stupiak by any means.  [laugh] Banks hate you deep deep.  



#16

Posted 02 January 2018 - 05:15 PM

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Some people even say our cars are leased from the govt so all that matters is the monthly “lease” leh.

I very stupid one, keep buying full cash becos i dont like to lease, i like to own.

Plse tell me i am not wrong

😫😆

 

u pay full cash only means u pay the 10 years lease upfront.... 


In theory, you also don't own that 999 / in perpetuity piece of land if the government wants to take possession for the purpose of public good / development.

 

* shrug * 

[laugh]

just like we don't own our life... can be taken away anytime



#17

Posted 02 January 2018 - 05:56 PM

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Valuation - not market price - in 2040 will definitely be different from 2018 ... Further more, flats older than 50years command lesser price also.

In short is 0 value!! Dang!! I thot someone says our hdb value will go up and can keep.... buy hdb!!!

#18

Posted 02 January 2018 - 07:48 PM

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With regards to the former, if Singaporeans don't own the flat then how come we can sell it? To me, you cannot sell what you do not own.

But then again, HDB themselves also refer to owners as "lessors".

And also just to highlight that even those leasehold private property is also the same in HDB in the sense that after the lease term expires you have to return it to government. So are they owners or lessors?

Sorry, if any of my above is wrong. I no expert, just providing a man-on-the-street view.

You don't own the flat, you are a lessor. You only own the right to hold the physical property, which is the lease from HDB, but you do not own the physical property. So whatever is sold related to the physical property is when you hold the lease, and based on that lease you hold.
You can only hold the physical property based on the lease issued by the HDB only, because the HDB flats are under the assets of HDB. If you don't have the lease issued by the HDB, you can't hold the physical HDB flat. You cannot just claim ownership just as whatever you want.
You don't sign a sales contract with HDB, you sign a lease agreement. Technically, you are just a lessor.
HDB has the right to repossess the flat as and when they want. They do not en bloc to buy back your flat because the flats are their assets, not yours.
You can't do whatever you like after you got the flat. You have to subject to their terms and conditions, rules and regulations if you want to do anything you want with the flat, like rent out immediately, sell immediately, etc. So technically it's not true ownership, it's basically a lease with extended conditions.
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#19

Posted 02 January 2018 - 07:57 PM

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HDB pay you almost half a million in 2040? means you live there for FREE?

 

Wait long long ah!!!

 

likely you get almost zero or a nominal sum.

Like those in Upp Boon Keng Rd Case...60 Years up left nothing.


Fairlady.


#20

Posted 02 January 2018 - 09:37 PM

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Also for HDB flats you don’t get the Original Title Deed ( only Duplicate) which is also perplexing ..... but for private 99 Year leasehold you get the Origina Title Deed
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