New VERS scheme for aging HDB

[No_worries]

In 1997 GE, PaP play the lift and main upgrading programme carrot, you go to Hougang Avenue 3 and you would know, on one side stand the old flats in Hougang smc which didn’t have the main upgrading program as they voted Oppo, on the other side is the Paya Lebar division which was upgraded under the main upgrading program with extra utility rooms etc.

 

This time around, the stakes are larger, you vote for me, I would VERS you, if die die wanna vote Oppo, you can stay in your slum until 99th year and at most get a few hundred dollars for the concrete much like how scrap car dealer offer you few tens of dollars for your “Chao tee”.

[Evillusion]

got rice eat rice

got porridge eat porridge

what if we live on borrowed rice? Even the porridge becomes borrowed! One of my friend bought a ground unit in Queenstown. Reason was its as close to living in a landed for a hdb dweller. Flat is 2 or 3 storeys and lease should be less than 30 yrs left.......he bought it cheap and now what is the value now since he bought with sers in mind.

[pegasi]

that's why govt check on inflation vigilantly , so that most if not all citizens can pay for their own house, own food, own medical bill, etc etc

 

what if we live on borrowed rice? Even the porridge becomes borrowed! One of my friend bought a ground unit in Queenstown. Reason was its as close to living in a landed for a hdb dweller. Flat is 2 or 3 storeys and lease should be less than 30 yrs left.......he bought it cheap and now what is the value now since he bought with sers in mind.

 

dont forget there is kampong admiralty

 

Assuming the flats are taken back at 30% of a new flat's price, the old can be sent invited to move to a retirement/nursing home in Johor using the proceeds.  Should be enough together with other subsidies/CPF.

 

Jobless ones - go get a job!

 

[Kopites]

I know which one. the double storey with front yard. should be close to a million. consider three rooms under hdb.

 

few years back there was also one put up under sales of balance not in queenstown though. priced at 850k with less than 30/40 years lease. we fail to even obtain a ballot number.

[Evillusion]

that's why govt check on inflation vigilantly , so that most if not all citizens can pay for their own house, own food, own medical bill, etc etc

 

 

 

dont forget there is kampong admiralty

inflation! Even our resident tow pow sian rich table wiper loaded with Rolex is sweating at our inflation....tio bo @Throttle2

[pegasi]

PM did not say any of these in his rally18 speech

but he did say that VERS is a collective decision of the residents 

and i doubt 70yr flat with 29yr remaining is worth only scraps

 

i would say maybe [29/99 x future value of a new BTO at the same vicinity]

note that it may be pegged to new BTO price and not market resale price, because the latter is likely higher value which the current SERS is based on

 

PM did say the compensation terms of VERS would be less generous than SERS

 

In 1997 GE, PaP play the lift and main upgrading programme carrot, you go to Hougang Avenue 3 and you would know, on one side stand the old flats in Hougang smc which didn’t have the main upgrading program as they voted Oppo, on the other side is the Paya Lebar division which was upgraded under the main upgrading program with extra utility rooms etc.

This time around, the stakes are larger, you vote for me, I would VERS you, if die die wanna vote Oppo, you can stay in your slum until 99th year and at most get a few hundred dollars for the concrete much like how scrap car dealer offer you few tens of dollars for your “Chao tee”.

 

Edited August 20, 2018 by pegasi

[Evillusion]

I know which one. the double storey with front yard. should be close to a million. consider three rooms under hdb.

 

few years back there was also one put up under sales of balance not in queenstown though. priced at 850k with less than 30/40 years lease. we fail to even obtain a ballot number.

crazy price for a lease of less than 30 yrs or even 40 yrs. If lease expires gov will take back with 0 residual value. And now i doubt they can let go of the unit even at a loss.

[Throttle2]

inflation! Even our resident tow pow sian rich table wiper loaded with Rolex is sweating at our inflation....tio bo @Throttle2

Bro, i am jobless with no income, of course i sweat lah.

I order dry mee pok at hawker, now already $4 !

 

Looks like many people after the Merdeka Gen are destined to leave singapore and retire overseas.

Very sad case.

[Evillusion]

that's why govt check on inflation vigilantly , so that most if not all citizens can pay for their own house, own food, own medical bill, etc etc

 

 

 

dont forget there is kampong admiralty

they check our inflation but dont do anything to rein it...........whats the point of checking then? Then they ask for a pay raise while we have to face the ever increasing inflation.

Bro, i am jobless with no income, of course i sweat lah.

I order dry mee pok at hawker, now already $4 !

 

Looks like many people after the Merdeka Gen are destined to leave singapore and retire overseas.

Very sad case.

so can count myself lucky then......i not the Merdeka Gen........missed by more then a decade or so! Thought you love cai png? Mee pok once in a while okay lar.......at least have food on the table.

[Kusje]

crazy price for a lease of less than 30 yrs or even 40 yrs. If lease expires gov will take back with 0 residual value. And now i doubt they can let go of the unit even at a loss.

 

Why cannot let go with a loss? Depends on how much the loss is right?

 

I will buy at 200k 

[pegasi]

depends on what items you are referring to

if you talk about private property, govt introduced many rounds of cooling measures to cool down inflation

if you talk about public housing, it is still relatively much cheaper than pte housing and by cheaper, i mean affordability (price of flat / annual household income < 5yr)

 

eg base on 12k cap on household income, 12k x 12mth x 5yr = 720k

guess most BTO are below 720k

 

they check our inflation but dont do anything to rein it...........whats the point of checking then? Then they ask for a pay raise while we have to face the ever increasing inflation.

 

[Kusje]

PM did not say any of these in his rally18 speech

but he did say that VERS is a collective decision of the residents 

and i doubt 70yr flat with 29yr remaining is worth only scraps

 

i would say maybe [29/99 x future value of a new BTO at the same vicinity]

note that it may be pegged to new BTO price and not market resale price, because the latter is likely higher value which the current SERS is based on

 

PM did say the compensation terms of VERS would be less generous than SERS

 

Somethings don't need to be stated outright one leh.

[Evillusion]

Why cannot let go with a loss? Depends on how much the loss is right?

 

I will buy at 200k

hahaha....$200k....fella blew more than $500k sia! Can add one more family to the needy liao!

[pegasi]

even if we base on median household fixed income 10k per month, over 5yr = 10k x 12mth x 5yr =600k

 

most BTO are below 600k (except for 5room units at dakota and bidadari, these may need a bit of cooling measures as well)

[Kopites]

Bro, i am jobless with no income, of course i sweat lah.

I order dry mee pok at hawker, now already $4 !

 

Looks like many people after the Merdeka Gen are destined to leave singapore and retire overseas.

Very sad case.

your mee bok add extra ingredients lah.

 

it should be around 2.50 at hawker lah.

depends on what items you are referring to

if you talk about private property, govt introduced many rounds of cooling measures to cool down inflation

if you talk about public housing, it is still relatively much cheaper than pte housing and by cheaper, i mean affordability (price of flat / annual household income < 5yr)

 

eg base on 12k cap on household income, 12k x 12mth x 5yr = 720k

guess most BTO are below 720k

below 720k ?

 

check Dawson ,boon tiong, Henderson vicinity bros.

[Evillusion]

depends on what items you are referring to

if you talk about private property, govt introduced many rounds of cooling measures to cool down inflation

if you talk about public housing, it is still relatively much cheaper than pte housing and by cheaper, i mean affordability (price of flat / annual household income < 5yr)

 

eg base on 12k cap on household income, 12k x 12mth x 5gyr = 720k

guess most BTO are below 720k

dont talk about those with combine earnings of >10k lei. Take the normal man in the street with salary at an average of 2-3k or those with less than 40k/pa. There are many out there.......they dont qualify for many things that the gov is dishing out. Cant even qualify for FAS for their children.....

[pegasi]

yes, bto are capped at 12k monthly household income and 5yr is a guideline on affordability

 

i wont be surprised if there are BTO exceeding 720k at mature estates

 

below 720k ?

check Dawson ,boon tiong, Henderson vicinity bros.

 

[Showster]

Cannot be leh. PM said the oldest is 52 years old now. 

 

Many parts of the older Queenstown had been SERS already.

 

I might be wrong though.

 

 

what if we live on borrowed rice? Even the porridge becomes borrowed! One of my friend bought a ground unit in Queenstown. Reason was its as close to living in a landed for a hdb dweller. Flat is 2 or 3 storeys and lease should be less than 30 yrs left.......he bought it cheap and now what is the value now since he bought with sers in mind.