Double standards for who’s benefit?

We all now know that despite having an edict to provide low cost housing to Singaporeans, and the fact that we only lease the flat from the Housing Development Board (HDB) who retains the ownership, that the Land Cost gets factored in to our purchase price even though we only buy the right to use the apartment and never own the land even in those 99 years, we are long term tenants.
This is state land for a state purpose and yet doing that it adds dramatically to the cost of our housing, standing squarely against the stated need of providing low cost housing.

Pics: TOC

Not only making our homes severely unaffordable but when combined with poor Central Provident Fund (CPF) policies drains our retirement… and of course permanently takes our money because as the Minister, Lawrence Wong, himself told us the value is $0 and the flat goes back to HDB who have to return the land to the state at the end of lease.

According to Minister Khaw Boon Wan, HDB must pay market rate for the land and this is why it gets factored in to the HDB’s pricing equation although no reason of why it must pay this as it is a national asset has ever been given.

Changi Airport Terminal 5 will be built on 1000 hectares of land which is 10,000,000 m2

Although we don’t have an exact number the Global Property Guide lists Singapore as having the 3rd most expensive land in the world at US$13,748 per m2 (S$18,650 per m2). Now that may be Orchard prices but as Ministry of Development (MND) development charges at Changi are about half of Orchards let’s say the land is valued at about half. (Maybe a URA/land expert can assist in clarifying?)

That would put the theoretical price of the land Changi airport will be built on at S$93.25 Billion?

So, can I ask is the MND going to charge Changi Airport Group market rate for the land the new terminal sits on or is there a double standard here and government mega projects are exempted but ordinary citizens must pay?

Oh, and on a side note Changi Jewel used to be a carpark. Sector 99 which Changi airport sits on has development charges for commercial activities, category A, set at $6,230 per sqm.

Jewel is 135,700 m2 so basic maths yields a number of $845 million. Now I know there is complex calculation involving baseline values and previous charges paid etc so the final number is much lower but the development charge for this change of use must be in the multiple millions.

Was that ever collected on behalf of the Singapore people to offset some of our tax dollars that have been spent on transport projects, especially as we are now told Jewel is a commercial enterprise by “private” companies?

If you must have double standards, why not look out for the needs of the people you are supposed to serve instead of burdening them?

 

Brad Bowyer

 

 

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15 Responses to “Double standards for who’s benefit?”

  • oxygen:

    THERE MUST BE A NEW DICTIONARY IN LEE-jiapore which says “subsidy” is the art of moving your tongue and lip painlessly and padding up your banking account silently at the same time.

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  • LIONS:

    Hello Brad,
    They sure good at DOUBLE $tandards!
    One fine example.
    They tell ordinary sgs to ACCEPT $1K PER MONTH JOBS or BE REPLACED by FTs.
    Then,they oso say $1 million is NOT ENOUGH for themselves whereas $1K is more thsn enough tp pay for food,children’s education n have balance to purchase EXPEN$IVE 99 YEAR HDB FLAT$?
    LMAO! CLOWN,JOKERS,[email protected]#$$$*$$$!!!

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  • Samuel S:

    Is this Jewel sits on 99 leased land?

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  • oxygen:

    NOWHERE ELSE IN ANY COMMONWEALTH LAW JURISDICTION in which anyone pay for a property – be that land, condo unit or car or e-scooter in which the buyer has no EQUITABLE LEGAL INTEREST in that subject-matter thereafter which peasant Ah Seng paid for value – except in LEE-jiapore.

    That is the legal title (in property law language, animus domini) is vested in someone else as if theft is legalised of right and common law vanished into fiction.

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  • "Fake news" from government:

    “According to Minister Khaw Boon Wan, HDB must pay market rate for the land and this is why it gets factored into the HDB’s pricing equation…”

    The above statement from KBW is “fake news” because it is a misleading half-truth. HDB pays SLA, another statutory board, for the land. SLA never had to pay for the land so its cost (not value) is ZERO. It is a “left pocket to right pocket” exercise. OVERALL, the land used by HDB cost the government nothing.

    Over the last 2 decades, HDB was used to “drain” (deplete) the CPF accounts of Singaporeans using what is basically a DEPRECIATING asset (because of the 99-year lease). The depreciation was offset by an UNSUSTAINABLE property bubble and the HDB flat will still be worth ZERO at the end of the lease despite HIP1 and HIP2.

    To make matters worse there are plans to allow the use of CPF money on older (30+ years) HDB flats. This might help make old flats more saleable and support their unrealistically high price but it also makes HDB flats a Ponzi scheme. CPF money of buyer is used to “take out the CPF money of seller in an old depreciating flat. Who will “take out” the buyer? It will likely be HDB (using VERS) at a price based on REMAINING lease which is a lot less than 99 years therefore not worth much.

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  • patriot of TUMASIK:

    Figure this Brad, The wife is a CEO with no experience but a stint in a govt owned entity…

    yet, Today her salary & KPI is NOT available…a good yardstick would be Salary & Perks of CEO @ DBS Bank owned by The wife’s Corporation…

    How??? and that is NOT a Red Indian Greeting

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  • Haigen-Diaz:

    Exactly, the whole infrastructure effort is based on privatization and profit. Out the window goes “the public good”, the idea that rich and poor need good housings, transportation, amenities, etc. I vote for owning what I pay for. That way I have some chance of deciding what is needed, where it’s installed and how it’s maintained.

    For now I’d rather have state control for all of this.
    We’ve seen how the public-private partnerships work, many times. First, the private company gets handed valuable public property for a fraction of its actual value. At that point, either the private company exercises its monopoly power to extract large sums of money from us – or they go bankrupt, and stick the rest of us with the bills.

    Your analysis on infrastructure and private money is right on the money. The entire concept of government funding for infrastructure is embedded in the concept that this source is the source of last resort. The public has an adversity to pay for “return on investment”.

    Crony-ism exists in board rooms everywhere. An ideal society would be a true democracy that utilized state capitalism as a means to benefit all citizens, not just the wealthy elites. I don’t think the line of demarcation is quite that simple. Pure, unfettered capitalism and free-market vitalism has been both subsidized and coddled by governments.
    Cronies in positions of political influence as well as its counterpart, and the problems outlined concern a breakdown of morality and accountability to civil society far more than a practical problem of governance as a purely political exercise–in other words, the very idea of a nation has been sublimated and requires thorough redefinition at the base level (outside the academy), so far unforthcoming, to restore trustworthy and functional administration. I doubt that either.

    Besides Singapore, China is the only exception. China’s success is the study in progress. I do not think China is thinking that way. They just want to pull their people out of poverty. Now we know who has the eye on the ball. No wonder that we are not seeing the ball to hit.
    It’s going to be a long, nasty battle.

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  • Thieves in more ways than one:

    One day Hoseh met an acquaintance in the street. The man looked worried so Hoseh asked him what was troubling him.

    “I have this terrible dream,” said the man, “Every night I dream there’s a stealthy thief hiding under my bed. When I get up to look there’s no one there! and I can’t sleep afterwards. I’m on my way to the psychologist now. He says he will treat me for three hundred dollars.”

    “Three hundred!” exclaimed Hoseh. “I can rid you of your problem for fifty!” The man immediately took out 50 dollars and offered it to Hoseh.

    “Now tell me what to do!”

    “The remedy is simple,” said Hoseh, pocketing the money.
    “Saw off the legs of the bed.”

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  • Who is accountable:

    https://www.hdb.gov.sg/cs/infoweb/press-releases/hdbs-latest-solarnova-tender-brings-solar-energy-to-over-2400

    Imagine you paid for the land and HDB use the Roofs to “earn” money for themselves. Despite this, I say, Electricity rate will continue to increase and so is the GST under the present regime.

    Furthermore, imagine that despite not gaining anything from above, you will be made to pay for the above failed experiment/project. Mark my words for it. Don’t need Scholars / U grads to see the waste money solar projects.

    They dare not say anything about the efficiency, neither commit to any running/maintenance costs or pay back period.

    Singaporeans taken for goons is it?

    To me, PAP is all the bad news. May I ask, who is going to be accountable for it. Please name him now so that he may take the credit if the project turns out beneficial and profitable.

    Armadillo;

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  • oxygen:

    @ “Fake News” from government.

    PEASANT AH SENGs MUST ASK PAPpypolitics and PAPpynomics to explain this BEWILDERING INEXPLICABLE ECONOMIC ENIGMA – how come the value of land at the date of 99-yr lease expiry determined to be of ZERO DOLLAR VALUE is SUDDENLY OVERNIGHT worth untold and unknown millions of dollars perhaps to the new buyer?

    "Fake news" from government: “According to Minister Khaw Boon Wan, HDB must pay market rate for the land and this is why it gets factored into the HDB’s pricing equation…”

    The above statement from KBW is “fake news” because it is a misleading half-truth. HDB pays SLA, another statutory board, for the land. SLA never had to pay for the land so its cost (not value) is ZERO. It is a “left pocket to right pocket” exercise. OVERALL, the land used by HDB cost the government nothing.

    To the best of my knowledge and belief – in property law and valuation – all structures above and sitting on the land has decaying value due to weathering.

    ONLY LAND RETAINS AND APPRECIATES IN VALUE OVER TIME.

    Why?

    BECAUSE LAND IS IMMOVABLE, NOT EVEN DESTRUCTIBLE BY TSUNAMI, FIRE OR EVEN EARTHQUAKE AND ITS EVIDENCE IN VALUE IS ONLY FOUND IN LEGAL TITLE. Peasants paid for the land, they have equitable interest in the land even if they do not have legal ownership found in the title deed. Both legal interest (in layman language ownership) and equitable interest in common law CAN AND DO EXIST TOGETHER.

    Peasants can’t pay for land and no legal rights of value in the land – IMPOSSIBLE saved of LEGALISED “THEFT” OF LAND VIA SILENT LEGAL CONFISCATION.

    In any case, as land and its value is indestructible, always appreciating and recognised in property law definition, IT CAN’T MYSTERIOUSLY DEPRECIATES EVERY DAY TO EXPIRY AND THEN ROSE TO HIGH HEAVEN LIKE A PHEONIX RE-INCARNATED FROM THE DEAD AND SOLD FOR A FORTUNE TO NEXT BUYER!!

    Peasant Ah Sengs can’t be blamed for thinking that it is a scam of 1% truth telling, leaving the other 99% of lies, fantasy and propaganda to imagination of exploited peasantry.

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  • TaxPayers Money No problems:

    Any update on the autonomous vehicles experiment? Satellite EPR System? those PAP StarWars daydreaming projects? or waste more tax payers money @ no accountability whatsoever is it?

    Put the autonomous vehicles drive orchard road see how? KNN. then I zip up.

    and the NEA “Pay as you throw rubbish system”….

    these people must be from the LongGang Technological University.

    Who is accountable:
    https://www.hdb.gov.sg/cs/infoweb/press-releases/hdbs-latest-solarnova-tender-brings-solar-energy-to-over-2400

    Imagine you paid for the land and HDB use the Roofs to “earn” money for themselves. Despite this, I say, Electricity rate will continue to increase and so is the GST under the present regime.

    Furthermore, imagine that despite not gaining anything from above, you will be made to pay for the above failed experiment/project. Mark my words for it. Don’t need Scholars / U grads to see the waste money solar projects.

    They dare not say anything about the efficiency, neither commit to any running/maintenance costs or pay back period.

    Singaporeans taken for goons is it?

    To me, PAP is all the bad news. May I ask, who is going to be accountable for it. Please name him now so that he may take the credit if the project turns out beneficial and profitable.

    Armadillo;

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  • Solar NOVA:

    There is a leaflet pasted on the wall near the lift that says…..Phase 2, 4MWp…???

    I think it read as Phase 2 – 4 megger Watts Peak….. KNN What on earth is this useless stupid engineering unit for.? You mean it peak for 0.01 of a second, or 1 second… ??? If the unit is of no use to the residence, why put in on the notice?

    So, to me, obviously this “MWp” is just to impress the unknowing residence giving the impression that his block generate 4 megger Watts of Electricity per day. Which in my opinion, everything from the PAP we should need to filter, chemical clean and with extra caution like 100m is not within, stuff like that.

    Maybe HDB should say how much it would benefits the residences e.g. lower electricity bills by 20% since their façades and horizons of their homes are being destroyed by the ugly open installation of the Solar Panels on the Roof.

    Maybe HDB should educate in simple terms for example how many trips a loaded lift can travel from bottom floor to the top floor in a typical single day per block of the solar panels “Generated Energy” on the roof. FREE or still must pay for harness energy?

    HDB should come clean the “benefits” of the installation to the residence or NONE at all.

    Nowadays, I am tired of those sneaky English designed to bluff common folks ….Totally insincere.

    Reporters should pressure HDB to answer.

    Who is accountable:
    https://www.hdb.gov.sg/cs/infoweb/press-releases/hdbs-latest-solarnova-tender-brings-solar-energy-to-over-2400

    Imagine you paid for the land and HDB use the Roofs to “earn” money for themselves. Despite this, I say, Electricity rate will continue to increase and so is the GST under the present regime.

    Furthermore, imagine that despite not gaining anything from above, you will be made to pay for the above failed experiment/project. Mark my words for it. Don’t need Scholars / U grads to see the waste money solar projects.

    They dare not say anything about the efficiency, neither commit to any running/maintenance costs or pay back period.

    Singaporeans taken for goons is it?

    To me, PAP is all the bad news. May I ask, who is going to be accountable for it. Please name him now so that he may take the credit if the project turns out beneficial and profitable.

    Armadillo;

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  • rukidding:

    He,he….visited “jewell” already.

    My verdict ?…..a piece of shit !

    My views ?….yes,…probably a piece of “jewel” for “Terrorist” !!!

    I ( if as a tourist on transit)…wouldnt want to push my lugguage and mixed myself in such a LARGE CROWD MIX of public crowds !

    I would risk getting my stuff stolen….

    I would risk getting my stuff “contaminated by possibly drugs couriers ..

    I would definitely be increasing the probability that I would be “pickpocketed” !

    From any “would be terrorist” point of views ????…I think this is a “Great Place” for them to “seek attention” !!!

    Its like any other shopping mall…except that it has a “BIG Transparent Toilet Bowl” with water be “flushed” NON STOP !….more like those toilet from our ZOO…with forest effect around .

    Make things worst…those shops are not “handicapped” friendly..their 2nd level shop ( within the same shop) is not wheel chair accessible ??

    I probably would’nt allow my kids to “play, shop” there !!!….its probably going to be the “riskier Targets” that any “smart would be terrorist”,…would consider for as their first… “target” !

    Low levels of security …..

    Complicated “Mix” of public crowd and International Tourist Crowd ..

    If I was a Transit Tourist…I would choose to remain inside the airport transit lounge and shop inside the airport transit shopping mall.

    Life will be Safer

    Life will be less tense.

    This conversion from carpark is just another “$$$$” making ideal from someone…some developer with connection to “You Know who” to “make $$

    Looks like “Greed” has “over shadowed” SENSED !

    I hope this place they called “Jxxel”….will not turn out to be a “Terrorist” “Jewel” !

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  • oxygen:

    @ Solar NOVA

    THIS PAPpypolitics CULTURE OF DISHONESTY is not a new phenomena.

    PAPpypolitics have always been a meandering river of endless lies, scams and deceptions of feeding peasant Ah Sengs with 1% truth, 99% lies, fantasy and propaganda.

    Solar NOVA: Which in my opinion, everything from the PAP we should need to filter, chemical clean and with extra caution like 100m is not within, stuff like that.

    and

    Solar NOVA: Nowadays, I am tired of those sneaky English designed to bluff common folks ….Totally insincere.

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  • autonomous starwar daydream:

    Regarding the autonomous vehicle, why drain tax payers money when you can learn or collaborate with Google Waymo Self-Driving Vehicle, but even with that kinds of expertise of their level 5 vehicle, you will probably be looking at 100 years from now….. maybe? So, it will not be from PAP regime, most likely.

    Watch;

    https://youtu.be/G25YWnl7cn8?t=6

    Well, they can always counter me with progress report or show Ah Long ride on behind passenger seat and “without” any driver at the wheel in busy AMK centrals…. hahahahahahaaha

    But with that said, with all the megger development costs of public funds spent away, would it end up being sold to private AIM or the like company again?

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