HDB to build diverse flat types, keep prices affordable for housing estates in prime locations

[Albeniz]

ok.  A few months have passed, has there been any update about the great east coast plan? 

Yes, that great east coast plan, together-east coast, yes together, that plan.

Edited December 2, 2020 by Albeniz

[Kxbc]

19 hours ago, Vinceng said:

"....pricing of flats must be kept affordable at the first sale by HDB"

So the recent launch of the new BTO flats at Bishan by HDB, for 4 room flats starting from $630,000 for a 2nd floor unit (after government subsidy) is "affordable"?  

The upper floors are asking in excess of $700,000 for a 4 room "government subsidised flat" on  99 year rental scheme 🤣🤣🤣🤣

That is a damn good location for stay. Super convenient. Only bad thing is serviced by the congested cte. 

[Kxbc]

5 hours ago, Throttle2 said:

Yalor, no use one.

unless they go back to basics

what is HDB for?  Profiteering?  

The current rules just push people towards using it to make money at the expense of another. Machiam buying brand new Rolex sports. KNN!

Thanks HDB, wan sui!

if they had any brains, resale of HDB should be back to HDB at a price which moves with inflation extrapolated by the numbers of years left in the lease.   In other words, the value of hdb can only go up if the nation does well as a whole.  And the opportunity to profiteer would completed be wiped out.

It's politically difficult to u turn and disallow selling into the open market after mop period. Taking away the political issues, there is also an equity issue for those who are still holding on to a hdb. So a refinement might be better than wholesale change of policy. 

So that's why I suggested increasing the mop period to beyond 12 years. It makes people think harder before they commit to a purchase because you will be stuck with it for 12 years. 

To reduce economic difficulty because you might buy a bigger unit rather than a smaller one now, while planning for new family member additions, hdb can structure a deferred scheme. Eg instead of 20%deposit on full price, have a 20% on 75% of full price. Then at end of year 5, another 20% on the remaining 25%. And all the while, the installment repayment continues. The staggered deposit allows for the buyer's salary to scale up to afford a larger unit. There are many ways to push out payment across the loan period (no need to change the max 30 years). Just need a workable restructuring to act as a n offset to a longer mop. 

[13177]

58 minutes ago, Kxbc said:

That is a damn good location for stay. Super convenient. Only bad thing is serviced by the congested cte. 

The new expressway is now constructing liao, maybe traffic will be better next time? 😅

[Throttle2]

49 minutes ago, Kxbc said:

It's politically difficult to u turn and disallow selling into the open market after mop period. Taking away the political issues, there is also an equity issue for those who are still holding on to a hdb. So a refinement might be better than wholesale change of policy. 

So that's why I suggested increasing the mop period to beyond 12 years. It makes people think harder before they commit to a purchase because you will be stuck with it for 12 years. 

To reduce economic difficulty because you might buy a bigger unit rather than a smaller one now, while planning for new family member additions, hdb can structure a deferred scheme. Eg instead of 20%deposit on full price, have a 20% on 75% of full price. Then at end of year 5, another 20% on the remaining 25%. And all the while, the installment repayment continues. The staggered deposit allows for the buyer's salary to scale up to afford a larger unit. There are many ways to push out payment across the loan period (no need to change the max 30 years). Just need a workable restructuring to act as a n offset to a longer mop. 

Yes good,  hope something can be done towards and for the right cause

[awhtc]

1 hour ago, Kxbc said:

It's politically difficult to u turn and disallow selling into the open market after mop period. Taking away the political issues, there is also an equity issue for those who are still holding on to a hdb. So a refinement might be better than wholesale change of policy. 

So that's why I suggested increasing the mop period to beyond 12 years. It makes people think harder before they commit to a purchase because you will be stuck with it for 12 years. 

To reduce economic difficulty because you might buy a bigger unit rather than a smaller one now, while planning for new family member additions, hdb can structure a deferred scheme. Eg instead of 20%deposit on full price, have a 20% on 75% of full price. Then at end of year 5, another 20% on the remaining 25%. And all the while, the installment repayment continues. The staggered deposit allows for the buyer's salary to scale up to afford a larger unit. There are many ways to push out payment across the loan period (no need to change the max 30 years). Just need a workable restructuring to act as a n offset to a longer mop. 

It is simpler for HDB to just lease the flats out as their demand could be very high.  It could be like the COE system where the tenants bid for their units.  Before the lease is up, the tenant can just terminate the lease and move on.  No one can buy or sell the units.

[yellowshaun]

22 minutes ago, awhtc said:

It is simpler for HDB to just lease the flats out as their demand could be very high.  It could be like the COE system where the tenants bid for their units.  Before the lease is up, the tenant can just terminate the lease and move on.  No one can buy or sell the units.

we are already leasing out flats from HDB for <99 years. We are not owners but lessees =D (dont worry i get your point just wanted to air my frustration about how we have to pay for land costs)

Edited December 2, 2020 by yellowshaun

[Kxbc]

47 minutes ago, awhtc said:

It is simpler for HDB to just lease the flats out as their demand could be very high.  It could be like the COE system where the tenants bid for their units.  Before the lease is up, the tenant can just terminate the lease and move on.  No one can buy or sell the units.

Need to consider the equity issue for those who are currently owners. Do a forced change? If you are one of them, how would you feel? Middle ground is needed. 

[Showster]

If leasehold for 30 years straightaway will become something similar to rental lor...

Still a great deal.

[Showster]

Most likely it will be offered on 70 years lease I think.

[Khng8]

42 minutes ago, Showster said:

Most likely it will be offered on 70 years lease I think.

Reflections at Keppel Bay lease starts from 2006 & I believe the lease starts around the same time the other condos that stretch.

So in a way a shorter HDB lease tie the lease end date to around the same timing. 

Great for future redevelopment as you have an even bigger piece of blank canvas to work on.

[Showster]

7 hours ago, Khng8 said:

Reflections at Keppel Bay lease starts from 2006 & I believe the lease starts around the same time the other condos that stretch.

So in a way a shorter HDB lease tie the lease end date to around the same timing. 

Great for future redevelopment as you have an even bigger piece of blank canvas to work on.

Yes that too, but there will be a delay in launching I feel.

They more importantly need to tie in with Duxton age. I suppose Duxton is about 15 years now, delay another 5-10 years will be close enough to launch the GSW HDBs so the end of lease for such flats is close enough.

I am not too sure how to equalise Strathmore though. There seems to be some built more recently after 2010.

[Yewheng]

9 hours ago, Khng8 said:

Reflections at Keppel Bay lease starts from 2006 & I believe the lease starts around the same time the other condos that stretch.

So in a way a shorter HDB lease tie the lease end date to around the same timing. 

Great for future redevelopment as you have an even bigger piece of blank canvas to work on.

Erm.. In that case, I don't know whether is there any much savings for household. As construction cost is one of the major pricing too right? Plus what if that area majority of the housing leasehold say left 50 years. Then there is this plot of land also built bto with leasehold for 50 years? What if couple get married early like say in 20 plus and like that how? They are going to miss apply for that bto as say 25 + 50 = 75 yrs old. If they live longer then 75 yrs old.  Like that they no house already. 

[Yewheng]

2 hours ago, Showster said:

Yes that too, but there will be a delay in launching I feel.

They more importantly need to tie in with Duxton age. I suppose Duxton is about 15 years now, delay another 5-10 years will be close enough to launch the GSW HDBs so the end of lease for such flats is close enough.

I am not too sure how to equalise Strathmore though. There seems to be some built more recently after 2010.

You mean leasehold for 70 or 85 years and sell the same price as those built on non mature estate with 99 yrs lease? 

[Lurpsexx]

What ever happened to MBT HDB asset enhancement policy? Lol.. Whatever suits their needs now , will be right..

2 left feet...

https://www.onlinecitizenasia.com/2018/04/11/was-mah-bow-tan-right-to-say-value-of-hdb-flats-would-grow-over-time/