Latka 1st Gear May 16, 2011 Share May 16, 2011 This was under the old scheme, flats bought direct fm HDB can sell after 10 years. But sales were slow and to speed up collecting levy, they cut down to 5 years. ST Forum May 16, 2011 Offer discounted flats with longer resale ban periods I REFER to the letter by Mr Goh Ah King last Friday ("Offer cheaper flats with shorter leases"). Another possibility is for HDB to offer flats with a longer resale prohibition period, such as 10 or 12 years, and price such flats at a bigger discount than normal flats. This would benefit families who intend to live there for a longer term and encourage others to take a similarly longer view of their HDB flat. I believe this is worth exploring together with the shorter lease option. Alvin Tan ↡ Advertisement Link to post Share on other sites More sharing options...
Chucky2007 Turbocharged May 16, 2011 Share May 16, 2011 Good idea Link to post Share on other sites More sharing options...
Toyo 1st Gear May 16, 2011 Share May 16, 2011 Old policy sometimes is still better. Link to post Share on other sites More sharing options...
Latka 1st Gear May 16, 2011 Author Share May 16, 2011 Old policy sometimes is still better. Depends on better for who. Link to post Share on other sites More sharing options...
Theone2010 Neutral Newbie May 16, 2011 Share May 16, 2011 (edited) This was under the old scheme, flats bought direct fm HDB can sell after 10 years. But sales were slow and to speed up collecting levy, they cut down to 5 years. ST Forum May 16, 2011 Offer discounted flats with longer resale ban periods I REFER to the letter by Mr Goh Ah King last Friday ("Offer cheaper flats with shorter leases"). Another possibility is for HDB to offer flats with a longer resale prohibition period, such as 10 or 12 years, and price such flats at a bigger discount than normal flats. This would benefit families who intend to live there for a longer term and encourage others to take a similarly longer view of their HDB flat. I believe this is worth exploring together with the shorter lease option. Alvin Tan cannot, wait you all can fully paid your HDB house earlier, maybe by age 45 and from 45 onwards, you starts to accumulate your CPF, or starts to relax, or don want to work, then when retired, withdraw CPF $$ + a house.... this is unacceptable. we actually wants you to loan 30 to 35 years, and when you retire, you left only an old HDB flats and with zero CPF to withdraw. They need lots and lots of money to plug a hole, you know. Edited May 16, 2011 by Theone2010 Link to post Share on other sites More sharing options...
Kangadrool Supersonic May 16, 2011 Share May 16, 2011 No amount of subsidies or shorter lease term can help to make public housing affordable UNLESS THE PROFIT MARGIN / MARK-UPS / TRUE COST is transparent. Link to post Share on other sites More sharing options...
Tom_kkh 1st Gear May 16, 2011 Share May 16, 2011 i think now if u sell yr flat, u can only take back cash of ma $20k regardless how much cash you have profited right? The rest of the cash profit will go into the payment of the new flat or into CPF. Right? anyone to share the latest hdb rules? Link to post Share on other sites More sharing options...
Asd78 Clutched May 16, 2011 Share May 16, 2011 If you sell your 4rm flat, you have to return whatever you drew out from your cpf. Then from the profit, 1/2 of it goes back to you, 1/2 will be kept by hdb for you to buy a 5rm or bigger flat in future. This is provided you have taken grant, hdb loan or bought direct from HDB(etc BTO, walk in selection..etc) Link to post Share on other sites More sharing options...
Joseph22 Turbocharged May 16, 2011 Share May 16, 2011 (edited) If you sell your 4rm flat, you have to return whatever you drew out from your cpf. Then from the profit, 1/2 of it goes back to you, 1/2 will be kept by hdb for you to buy a 5rm or bigger flat in future. This is provided you have taken grant, hdb loan or bought direct from HDB(etc BTO, walk in selection..etc) this one not true.. how i know?? i sold my house after the rule come out. you keep all the cash. but next house, if you still take HDB loan. then 1/2 the cash profit will have to be pay in cash before taking the loan. Eg. you have 200K cash profit. next house 500K. you want to take HDB loan. you got 100K in your CPF. so you pay 500K -100K (CPF) - 100K (1/2 of cash profit) = 300K loan. not sure applicable for bank loan or not. last i heard is, its not applicable. Edited May 16, 2011 by Joseph22 Link to post Share on other sites More sharing options...
Seaweed 1st Gear May 16, 2011 Share May 16, 2011 these are the brains that we should engage in our policy making...we should chop of 1 or 2 MPs...take their allowance and get some of these guys to just to brain-storm in their free time for feasible ideas... Link to post Share on other sites More sharing options...
Park88 1st Gear May 16, 2011 Share May 16, 2011 i wondered why are we paying MBT so much when there are so many contributions (good ideas) from MCF Link to post Share on other sites More sharing options...
Latka 1st Gear May 16, 2011 Author Share May 16, 2011 this one not true.. how i know?? i sold my house after the rule come out. you keep all the cash. but next house, if you still take HDB loan. then 1/2 the cash profit will have to be pay in cash before taking the loan. Eg. you have 200K cash profit. next house 500K. you want to take HDB loan. you got 100K in your CPF. so you pay 500K -100K (CPF) - 100K (1/2 of cash profit) = 300K loan. not sure applicable for bank loan or not. last i heard is, its not applicable. If take bank loan cnfm no need to pay half of the cash profit. Link to post Share on other sites More sharing options...
Latka 1st Gear May 16, 2011 Author Share May 16, 2011 these are the brains that we should engage in our policy making...we should chop of 1 or 2 MPs...take their allowance and get some of these guys to just to brain-storm in their free time for feasible ideas... Our ideas is geared at saving money for citizens, where they want us? Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged May 16, 2011 Share May 16, 2011 No amount of subsidies or shorter lease term can help to make public housing affordable UNLESS THE PROFIT MARGIN / MARK-UPS / TRUE COST is transparent. Frankly no where in the world can you have the Cost price of Car, Profit of each car known to the Buyer. Only in SG. What makes HDB flat any different ?? Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged May 16, 2011 Share May 16, 2011 i wondered why are we paying MBT so much when there are so many contributions (good ideas) from MCF You dono lah... If he did not negotiate HARD with the Chief Valuer, your HDB flat will cost $1mil !!!! Link to post Share on other sites More sharing options...
Rubbishman 1st Gear May 16, 2011 Share May 16, 2011 You dono lah... If he did not negotiate HARD with the Chief Valuer, your HDB flat will cost $1mil !!!! That is the reason why he is worth his million dollar salary! Without him and his great policies, HDB flats may already cost S$1 mil and totally beyond the reach of Singaporeans Link to post Share on other sites More sharing options...
Rubbishman 1st Gear May 16, 2011 Share May 16, 2011 Frankly no where in the world can you have the Cost price of Car, Profit of each car known to the Buyer. Only in SG. What makes HDB flat any different ?? Our system is quite transparent actually. In fact, it has been very open all the while. Look at our ministers pay. That is why LSS said Singapore should not be shy about having one of the highest paid civil services in the world. ( ) We should also not be shy about having one of the most expenisve places to own a car in the world. Neither should we be shy about having the most expensive flats. Link to post Share on other sites More sharing options...
Tom_kkh 1st Gear May 16, 2011 Share May 16, 2011 this one not true.. how i know?? i sold my house after the rule come out. you keep all the cash. but next house, if you still take HDB loan. then 1/2 the cash profit will have to be pay in cash before taking the loan. Eg. you have 200K cash profit. next house 500K. you want to take HDB loan. you got 100K in your CPF. so you pay 500K -100K (CPF) - 100K (1/2 of cash profit) = 300K loan. not sure applicable for bank loan or not. last i heard is, its not applicable. than not so bad la, i heard can only keep 25k max. I wasw thinking where got enough for renovation with 25k, kns... so now i am clear, thanks! ↡ Advertisement Link to post Share on other sites More sharing options...
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