tag:blogger.com,1999:blog-11702093.post4134739687276330266..comments2024-03-28T22:56:40.743+08:00Comments on Tan Kin Lian's Blog: The expiring HDB leaseTan Kin Lianhttp://www.blogger.com/profile/00617069056914635271noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-11702093.post-73626542273544425762018-04-22T00:51:07.717+08:002018-04-22T00:51:07.717+08:00The White Paper Govt's aspiration to have 6.9m...The White Paper Govt's aspiration to have 6.9m people.<br />With tech's steady progress in AI, Robotic and Automation advances, now Govt is having second thoughts, that we dun really need that much engineers and specialized personnel from abroad, we dun really need to attain this 6.9m target.<br />Lawrence's warnings on HDB owners hoping to profit from SERS, and State mouthpiece SPH's wide coverage on the Geylang property lease expiring and reverting back to Govt are hints we should take note.<br />In future no need to build more public flats as population growth has reached optimal requirement level already. So dun expect your new HDB flats to appreciate like in the past, your flat is not an asset, so treat it a consumer product like your car.<br /><br /><br />Yujuanhttps://www.blogger.com/profile/05842151489551640027noreply@blogger.comtag:blogger.com,1999:blog-11702093.post-32477786614357724142018-04-21T18:28:19.358+08:002018-04-21T18:28:19.358+08:00Folks here are this politically immature. They jus...Folks here are this politically immature. They just believe what the Govt says, being not conditioned to think further.<br /><br />When LKY said years ago that HDB flats are an asset, dun sell yours away, and they believe.<br /><br />HDB flats is not an investment asset, just a place to bring up your family, because they have a expiry date, after which, revert back to Govt, and if your flat has 50 or less years left, it would depreciate very quickly, right before your eyes.<br />Unless, your aging block is about 5 mins walk to MRT stations, and next to rental blocks, then worth the chance to punt that yours fall within the SERS scheme. Why? Very obvious, such locations are far too valuable to stay as rental flats for long, Govt just take them back and pack off renters to far away locations, dun need to pay compensations. Then sell these valuable land to private developers to make money. If selling price is cheap, why not consider such fast aging flats, treat it as paying rent.<br />Solution is simple. For flats running out of time, if you bought them in the 70s and 80s, dun be greedy, grab any offer price that comes your way quickly, else selling price would just slide down the ladder, then stay with children/relatives. Money talks well in Singapore, with cash in hand, children/relatives would take you in, but hold on to your cash tightly, it's your security blanket.<br />Solution two, ballot for new BTO and EC flats, all subsidized by Govt, and you have the luxury of waiting out your asset to appreciate with a brand new 99 years lease. Now everywhere you could find MRT stations, ulu places so what. Rule here, dun buy aging resale HDB flats, would fast depreciate like your motor vehicles, unless the location is too good as stated above.<br /> Yujuanhttps://www.blogger.com/profile/05842151489551640027noreply@blogger.comtag:blogger.com,1999:blog-11702093.post-46182444565797219572018-04-20T18:41:36.135+08:002018-04-20T18:41:36.135+08:00Govt will reply that cpf can already be used to pa...Govt will reply that cpf can already be used to pay for lease between 30 & 60 yrs ... But subject to 2 conditions that you've discovered recently:<br /><br />1. Age of youngest buyer & remaining lease > 80.<br /><br />2. Formula to calculate prorated % of cpf that can be used.<br /><br />Not forgetting cpf also has Withdrawal Limit & Additional Housing Limit based on original property valuation and cpf retirement sum amount.<br /><br />I think easier to reduce employee cpf & disallow cpf for property, and do away with all this complicated policies since 99% of people end up using most of their cpf for property anyway.<br /><br />Retirement money is retirement money ... Property money is property money ... Keep them separate.<br /><br />Just like for insurance vs savings vs investment.Unknownhttps://www.blogger.com/profile/02938450718690565242noreply@blogger.com