There is heated argument over the question - do you own or lease the HDB flat?
The govt said that you own the flat. The buyers said that they are lessees.
Both are right.
The buyer own the lease of the flat. The lease comes with all kinds of restrictions that do not normally apply to private leasehold properties.
The only argument in favor of the govt's position is that the owner is allowed to sell the remaining lease and make a profit.
As the buyer now has to pay a high price for the HDB flat, it will become more difficult to make a profit in the future.
If they sell the flat after the "minimum occupation period", and buy a new flat, they will probably find the new flat to be quite costly.
They have to pay a levy on the new flat and get a "step up" grant on the second flat, but the terms are quite complicated.
I wish that we had a simpler approach to buying and selling a HDB flat. Why can't our life be made simpler?
The govt said that you own the flat. The buyers said that they are lessees.
Both are right.
The buyer own the lease of the flat. The lease comes with all kinds of restrictions that do not normally apply to private leasehold properties.
The only argument in favor of the govt's position is that the owner is allowed to sell the remaining lease and make a profit.
As the buyer now has to pay a high price for the HDB flat, it will become more difficult to make a profit in the future.
If they sell the flat after the "minimum occupation period", and buy a new flat, they will probably find the new flat to be quite costly.
They have to pay a levy on the new flat and get a "step up" grant on the second flat, but the terms are quite complicated.
I wish that we had a simpler approach to buying and selling a HDB flat. Why can't our life be made simpler?
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