PR cannot sublet HDB liao

[Kar_lover]

Another welcomed move by the government. Two in the roll, keep it going.

 

Err....trying to analyse....

 

Rental market will definitely have supply cut = highly rental yield for Singaporean flat owners = less tendency to sell flat = drop in number of flats for sale = higher price for flats = higher HDB prices

 

With cut in supply for rental units, PRs who used to rent HDB flats will now need to buy = increase demand for resale flats. Combine this with the above reduction in supply for resale flats = double whammy leading to even higher HDB prices and COV.

 

These high HDB prices adversely affects the citizens too.

 

Some PRs who can't buy HDB flats will start renting from private driving up rental prices and with this higher rental returns, more may be willing to invest to pte property, once again driving up pte property prices which defeats the cooling measures brought about earlier.

 

Somehow, i don't see this as a good thing.....

 

[Mustank]

btw all policies are always $$$ driven - wat do u expect from singapore inc.

1 yr "grace" period + the rolling 1 yr wil prevent shocks to the prices. the domino effect can be quite big.

 

so Darryn, dun worry and argue so much now...im sure u wil stil get to live in your condo while collecting rental from the HDB. at least for the 5 years, jus prepare your sob story.

 

 

Darryn is because his plan to rent out hdb and stay in swanky condo becomes rent out swanky condo and stay hdb

[Joseph22]

sporean above 60 start doing so too in view of rental rate shot to the roof

 

This built in mechanism are not stopping PR from working in singapore and living in JB but have a flat in singapore subletting out for income. In my short 10 years working life, i had seen lots of Johorian doing that

another 5 to 10 years. i intend to look for another house and let my father live in my current one if he doesnt want to live with me while he sublet his house for daily living.

[Darryn]

Of course i am in agreement on this. but if they had meet the MOP. nothing you can do about this. you cannot expect gahment to just happily take away a citizenship right?

No need to cancel citizenship -

 

Simply apply the new ruling across the board - to all owners of HDB, whether it be citizen or PR.

 

Would probably need to be tweaked though for those with expat postings, however this shouldn't be too difficult.

 

[Galantspeedz]

i think that part is typo. if i am not wrong GS trying to say.

 

making profit doesnt mean not subsidize while making loss doesn't mean its subsidize too.

 

i feel abit scary that we are thinking along the same line

[Jrage]

sporean above 60 start doing so too in view of rental rate shot to the roof

 

This built in mechanism are not stopping PR from working in singapore and living in JB but have a flat in singapore subletting out for income. In my short 10 years working life, i had seen lots of Johorian doing that

 

the thing is s'porean abv 60 , is suppose to do that as part of singaporean gov retirement plan for its citizen.

 

while allowing pr to own hdb was to allow them to have more affordable housing and not provide them with income.

[Galantspeedz]

Darryn is because his plan to rent out hdb and stay in swanky condo becomes rent out swanky condo and stay hdb

 

he say don't affect him leh

[Maroon5]

he wont have any problem as his flat under his singaporean wife name

 

oh..then he is fighting for his PR relatives who has vested interests?

 

anyw to Darryn, jus joking ok. no hard feelings.

[Solar]

i thk it wil prob sway the borderline PRs to accelerate their plans to migrate to their destination of choice. in my view, those who are serious abt sg, would hv alr taken up their citizen vows. but since as a PR, my kids study the same schools, i use the same hospitals, my hubby cont to work the same jobs and opportunities, why would i wanna close my doors so soon?

 

yup, true. i won't, if i were them and also enjoy the same stuff as a citizen. already confirmed with a few of my pr friends/colleagues

so if it is in the 'masterplan' to make more pr take up citizenship, we can expect to see more of these privileges taken away or revised if they don't convert.

[Royho1979]

a) What will happen to tenancy contracts? A lot that I know about are two years - this won't be possible under the new rules

Change the contract lor.

b) Citizens are allowed to rent flats indefinitely, but PR are not? Doesn't seem quite right - HDB is supposed to be a home, full stop - not an investment. So in my mind would be better if rules were enforced so that it is a home.

Dun seemed quite right that people who wants to call this place a home refuse to become a citizen and serve NS. I do not see you complaining about those parts that dun seem quite right.

 

c) HDB is something like 80% of the market - rather than implementing these sorts of rules, my preference would be such that HDB really and truly becomes subsidised for those that need a leg up. Anyway - HDB is not subsidised, the govt still makes a profit from every HDB flat sold

Agree.

 

d) There is a built in mechanism for PR to "expire" after 5 years if you are not working and contributing to Singapore, so I am doubtful if more needs to be done on that front

If that had worked why are all the infrastructures strained?

 

With the measures that are being introduced, it is becoming more and more like acquiring Permanent Residency is a "not really permanent residency" measure, but more of an upgraded workpermit. More specifically than individual measures this doesn't feel "right" as an overall policy. If you don't want the person here permanently, then don't grant residency in the first place.

What? We give you the privilege to own public property without the need to convert to citizen, we impose a rule so that privilege will not be abused for profits at the expense of the citizens and it does not feel right to you? Such is the entitlement complex of the PRs we have here.

 

 

If you only want the person here short term, then create a class of workpermit that addresses this - rather than taking more and more away from those that have permanent residency.

After all, the overall policy of permanent residency is as someone who is working towards / eligible for / of a quality to be a citizen - NOT someone who is just here to do a job and then zao.

 

So how is the progress of your move towards citizenship? How many more years you plan to stay and benefit before you convert? I seemed to remember you saying its almost impossible. In that case, by your logic why should you get ANY benefit?

In the interests of full disclosure

a) this policy change will NOT affect me

Not this one... maybe the next one. Look at the trends... Winter is Coming.

b) we are looking at buying a second investment property - if we do this the Condo will be rented and we will continue to live in our HDB

So you own a HDB, a privilege granted to PR, which you claim should me a status granted to people who are moving towards citizenship. Why dun you be a sport and live by your "code of honor" and relinquish your PR since you have no plans to convert. With you ability, you will still be able to work here.

[Darryn]

btw all policies are always $$$ driven - wat do u expect from singapore inc.

1 yr "grace" period + the rolling 1 yr wil prevent shocks to the prices. the domino effect can be quite big.

 

so Darryn, dun worry and argue so much now...im sure u wil stil get to live in your condo while collecting rental from the HDB. at least for the 5 years, jus prepare your sob story.

 

As mentioned - I don't want to, and have no plans to, live in a Condo. I like my HDB* and am very comfortable there.

 

* well, relatively speaking, it still doesn't compare to what I had growing up, living in the country side with 1/2 acre of lawn and garden, but hey - there's no way I can afford the multy millions needed for that here.

[Joseph22]

Darryn is because his plan to rent out hdb and stay in swanky condo becomes rent out swanky condo and stay hdb

try to remember his family background leh.

Darryn is a PR from NZ. (not ang mo but a native NZ)

flat under his wife name who is a singaporean.

 

so this rule got nothing to do with him at all

 

 

[Mustank]

Err....trying to analyse....

 

Rental market will definitely have supply cut = highly rental yield for Singaporean flat owners = less tendency to sell flat = drop in number of flats for sale = higher price for flats = higher HDB prices

 

With cut in supply for rental units, PRs who used to rent HDB flats will now need to buy = increase demand for resale flats. Combine this with the above reduction in supply for resale flats = double whammy leading to even higher HDB prices and COV.

 

These high HDB prices adversely affects the citizens too.

 

Some PRs who can't buy HDB flats will start renting from private driving up rental prices and with this higher rental returns, more may be willing to invest to pte property, once again driving up pte property prices which defeats the cooling measures brought about earlier.

 

Somehow, i don't see this as a good thing.....

 

doesnt affect:

 

1) low to middle income Singaporeans: Can buy BTO at a subsidised lower price

2) low to middle income Singaporeans: Can buy EC

 

Affect higher income Singaporeans because they cant buy bto and ec

 

Affect pr and foriegner: not my problem

 

[Wt_know]

still abit confuse leh ... based on new rule

 

1. msian pr, work in spore, live in jb, can rent out whole hdb? 1+1, max 5 years?

 

2. pr (whatever country), live in condo, can rent out whole hdb? 1+1, max 5 years?

 

3. sporean, retired, live in jb, can rent out whole hdb? 3+3, no limit?

 

4. sporean, work in spore, live in condo, can rent out whole hdb? 3+3, no limit?

Edited July 11, 2012 by Wt_know

[Mustank]

try to remember his family background leh.

Darryn is a PR from NZ. (not ang mo but a native NZ)

flat under his wife name who is a singaporean.

 

so this rule got nothing to do with him at all

 

flat cannot be one person name what.....either his wife + his wife's parent......or he and his wife

[Joseph22]

i feel abit scary that we are thinking along the same line

no wonder our club in MCF league always stick together.

[S4vtec]

please la ... how to enforce.... ? whistle blowing? do they even have the resources to police such a rule ?

[Acemundo]

i feel abit scary that we are thinking along the same line

 

 

are you feeling feverish