Property Views

[toddles]

3Boys:

limlim:

[quote=\"toddles\"]

current HDB owner who has met MOP of 5 years can buy private ppty, and apply to HDB to rent out the HDB too. usually these applications are approved. Then the person can stay in the pte ppty and rent out the HDB.

err.. are you sure? \"usually these applications are approved\"

I believe HDB will approve rental of HDB flats only under special circumstances.. Such as the family relocate overseas for x years, or they \"temporarily\" need to move to their parents to take care fo them etc..

w/o a justifiable and valid reason, HDB will ask the owners to sell their flats instead.

And to allow them to rent out their flat so that they can stay in their pte pty is totally against the principal of public housing..

HDB's policy is very simple.. owner MUST stay in the flat (with exceptions).. regardless of whether you have private pty / alternative housing.

Yeah. Perhaps in times past, they may have bee a little more liberal. Under current environment, I doubt it will continue to be so.[/quote]Yup, I am quite sure. Besides the terms that sleepy posted, there was also a recent case in the news papers of the Indian PR (?) who bought private and rented out his hdb after fulfilling MOP.

that's the whole point of having an MOP mah...

[verykiasu2010]

comfy:

verykiasu2010:

if you own private ppty now, and buy HDB, then must sell your private ppty within 6 months

then must stay in HDB for 5 years before u can sell it or buy a private ppty again

but if you buy private ppty after the MOP of 5 years, you don't have to move out / sell your HDB

therefore : private ppty owner cannot buy a HDB to live in it in order to rent out the private ppty, while a HDB owner now can buy private ppty (after the MOP) and still live in HDB and rent out the private ppty. This to me is grossly unfair to penalise existing private ppty owner. Someone inside HDB is very vindictive

I totally agree with you. The rules regarding about Hdb can buy pte property while pte owners cannot buy resale Hdb flates is really unfair. To be fair for both side, those HDB buyers who are rich enough to buy pte pty, should also sell the flats within 6 mths ( like in the case of pte prty buying hdb flat) so that they cannot use the resale PUBLIC flat for rental purpose. Perhaps this might bring down the resale flat and made is more affortable for people and people might treat it as their long-term home.

someone from here going to take up this issue with Minister Mah or your MP ?

[sleepy]

verykiasu2010:

comfy:

[quote=\"verykiasu2010\"]
if you own private ppty now, and buy HDB, then must sell your private ppty within 6 months

then must stay in HDB for 5 years before u can sell it or buy a private ppty again

but if you buy private ppty after the MOP of 5 years, you don't have to move out / sell your HDB

therefore : private ppty owner cannot buy a HDB to live in it in order to rent out the private ppty, while a HDB owner now can buy private ppty (after the MOP) and still live in HDB and rent out the private ppty. This to me is grossly unfair to penalise existing private ppty owner. Someone inside HDB is very vindictive

I totally agree with you. The rules regarding about Hdb can buy pte property while pte owners cannot buy resale Hdb flates is really unfair. To be fair for both side, those HDB buyers who are rich enough to buy pte pty, should also sell the flats within 6 mths ( like in the case of pte prty buying hdb flat) so that they cannot use the resale PUBLIC flat for rental purpose. Perhaps this might bring down the resale flat and made is more affortable for people and people might treat it as their long-term home.

someone from here going to take up this issue with Minister Mah or your MP ?[/quote]
True, might seem unfair to private properties owners. What is HDB's rationale for that?
3boys sum it up earlier - very likely their reason for having that policy

3Boys:

Unfettered access to HDB properties to all and sundry, including those who own private property, maybe someone staying in a $4M Ardmore Park penthouse, will drive up HDB resale property prices beyond the reach of the man in the street.

Social mobility in allowing HDB owners to make investments in private property is desirable.

Throw all of this into the mix, what do you get?

1) Close the HDB market to private property owners. You can afford private apartments, please leave HDB to the less well endowed.

2) Open up private property market to HDB owners. This is to allow for the aspirational growth for 80% of our population.

DISCRIMINATORY? Oh yeah, if you are on the wrong side of the fence. UNFAIR? Not at all, in my view.

So, don't be too kiasu. Some policies don't directly benefit us, but one needs to consider the bigger picture sometimes, and its ok to prosper thy neighbour.

[verykiasu2010]

sleepy:

verykiasu2010:

[quote=\"comfy\"]
I totally agree with you. The rules regarding about Hdb can buy pte property while pte owners cannot buy resale Hdb flates is really unfair. To be fair for both side, those HDB buyers who are rich enough to buy pte pty, should also sell the flats within 6 mths ( like in the case of pte prty buying hdb flat) so that they cannot use the resale PUBLIC flat for rental purpose. Perhaps this might bring down the resale flat and made is more affortable for people and people might treat it as their long-term home.

someone from here going to take up this issue with Minister Mah or your MP ?

The rationale for that, 3boys sum it up earlier

3Boys:

Unfettered access to HDB properties to all and sundry, including those who own private property, maybe someone staying in a $4M Ardmore Park penthouse, will drive up HDB resale property prices beyond the reach of the man in the street.

Social mobility in allowing HDB owners to make investments in private property is desirable.

Throw all of this into the mix, what do you get?

1) Close the HDB market to private property owners. You can afford private apartments, please leave HDB to the less well endowed.

2) Open up private property market to HDB owners. This is to allow for the aspirational growth for 80% of our population.

DISCRIMINATORY? Oh yeah, if you are on the wrong side of the fence. UNFAIR? Not at all, in my view.

So, don't be too kiasu. Some policies don't directly benefit us, but one needs to consider the bigger picture sometimes, and its ok to prosper thy neighbour.

[/quote]whether a person owns a $4m ppty or a S$40m ppty he can only buy ONE HDB ppty, how much can you drive it up ?

it is driven up to where it is today is due to the one year MOP of resale flat,

[sleepy]

verykiasu2010:

it is driven up to where it is today is due to the one year MOP of resale flat,

Used to be 3 years, before the 30 August announcement

verykiasu2010:

whether a person owns a $4m ppty or a S$40m ppty he can only buy ONE HDB ppty, how much can you drive it up ?

Only cash rich buyers (most assume pivate property owners & some say new immigrants :scratchhead: ) can afford ridiculously high COV.

Without this group of buyers, HDB sellers will have to be realistic, cannot 漫天开价 :evil:

Will be interesting to watch what happen to HDB & mass market condo prices the next 6 months to 1 year

[sleepy]

toddles:

Yup, I am quite sure. Besides the terms that sleepy posted, there was also a recent case in the news papers of the Indian PR (?) who bought private and rented out his hdb after fulfilling MOP.

that's the whole point of having an MOP mah...

Can post the newspaper article link here? I don't recall reading it

[verykiasu2010]

sleepy:

verykiasu2010:

it is driven up to where it is today is due to the one year MOP of resale flat,

Used to be 3 years, before the 30 August announcement

verykiasu2010:

whether a person owns a $4m ppty or a S$40m ppty he can only buy ONE HDB ppty, how much can you drive it up ?

Only cash rich buyers (most assume pivate property owners & some say new immigrants :scratchhead: ) can afford ridiculously high COV.

Without this group of buyers, HDB sellers will have to be realistic, cannot 漫天开价 :evil:

Will be interesting to watch what happen to HDB & mass market condo prices the next 6 months to 1 year

Any 'sane' HDB owners (read:citizens) will maximise the COV, they will ask for example S$120k cov and just let the buyers bargain....whoever blinks first will get it... 3 y.o. kid also know, and most of the time the buyers are en bloc ppty owners-citizens too, so we drive the market up ourselves...as HDB stats say that only up to 20% of resale txn are by PR, 80% are by citizens.

and PR is only 500+ k compared with citizen popn of 3+m....not as if the whole of 5m - 3.+m = PR

[limlim]

They should just stick to the original intention of the public housing project… to provide housing needs of residents…


Those who have private properties should give up the HDB flat and put it up for sale.

[verykiasu2010]

and the vicious cycle continues, these enbloc ppty owner-citizens in a desperate moment to find a place to stay, will just pay cash for the whole ppty purchase (HDB) and the whatever cov paid will be factored in the next valuation of the surrounding ppty, and will affect NEW HDB flats pricing as it is a function of the market price (HDB resale market) less XX% market subsidy


so 80% of the blame should be on citizens who hoard HDB ppty

[3Boys]

limlim:

They should just stick to the original intention of the public housing project.. to provide housing needs of residents..


Those who have private properties should give up the HDB flat and put it up for sale.

Simplest and truest form....

Aiyah, but folk want sophistication and nuance in policy making right? Pay our ministers so many millions, how can settle for something so simple.....