Sunday, September 26, 2010

HDB Compounding mistakes

Letter from HCM


So the talk now is that HDB owners are not allow to own Landbanking during the first 5 years. It is suppose to be for land banking that invest in residential property related land parcels.  I can see the arguments leading eventually to Property funds, Reits, and even listed property companies??

By not drawing the regulations properly at the beginning, HDB is now fixing leaks as and when water seeps in.

HDB --- ownership is strictly for Singaporean owner-occupier. No ifs or buts.

For whatever reasons, as long as the owner is not staying in the HDB for more than xx months, the owner has to sell the flat within x months, either in the open market or to the HDB at the posted HDB repurchase price.

HDB can resell the flats or deposit the flats in a HDB rental company (HDBrent).  HDBrent is the only agent allowed to rent HDB flats out to either Singaporeans, PRs or foreigners.

HDB owners can invest in anything they wish.    


HCM
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3 comments:

Lye Khuen Way said...

Right on ! The MND need new minister/ PS/minister of state..... All the headache started when it was decided to let HDB "owners" sell on the open market long ago. It is not possible to go back to square one now, but the suggestions put up by HCM should be enough. We do not really profit from 'asset enhancement'.

September 26, 2010 2:12 PM
Unknown said...

New and resale HDB for Singaporean and should be owner occupied. PR should be allow resale and owner occupied for 5 years and after that should consider be citizen to continue having HDB as owner occupied if not should sell within the 6th year and move to private if still want to remain as PR. This gives PR access to cheaper housing choice during the initial 5 years and to further enjoy HDB housing then citizenship is required.

September 26, 2010 10:18 PM
Unknown said...

The next step is to curb the purchase of property related stocks. Those who have occupied their HDB flat for < 5years will be banned from the buying of property related counters and REITS. They can however go short on the CFDs. If they indulge in investing in stocks, they are deemed well off and can well afford private housing.

September 27, 2010 10:22 AM

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