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Suckerporean buyers are flattered over the moon by being called Flat Owners

37 families staying at Geylang lorong 3 landed homes will leave by 31 December 2020 when their 60 years (correction) lease are up with no compensation whatsoever.

They are not unique. All buyers of HDB flats in Singapore are also entitled to a 99 years lease after which their flats will also be returned to the government with no compensation whatsoever.

It never fails to amuse me that too many Suckerporean buyers are flattered over the moon by being called Flat Owners. I ask truly owners meh? Really? Think harder.

Those years of HDB flat buyers reaping handsome profits by selling off their flats after staying the Minimum Occupancy Period are not likely to repeat with today’s flat buyers because buyers of past generations bought their flats much, much cheaper and they rode the tides of Singapore’s industrialisation and economic booms and benefitted greatly from it. Right place right time. They didn’t need to be smart. They just need to be lucky and that generation of buyers were super lucky.

Today, in the face of much economic uncertainities, job insecurity, depressed wages and very, very high HDB flat selling prices with the greedy pap government’s policy of including land cost lumped/dumped on buyers, buyers need to be extremely prudent and live within their means in order not to over consume public housing by paying too much for depreciating housing over the long term and emptying their CPF savings meant for their retirement along the way. In hokkien we say, siang tao liao.

Think.

 

Simon Lim

 

 

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14 Responses to “Suckerporean buyers are flattered over the moon by being called Flat Owners”

  • Police CLOSE DOWN:

    Haha, HDB landed property. Queenstown also have. Look like semi D.

    Ya lor, what part of LEASEHOLD that people don’t get? Technically, you own a lease for what ever valid period.

    Is it true that HDB will take a cut from the sale of a flat?

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  • oxygen:

    THE TITLE DEED legal document from HDB says buyers are all ‘TENANT” but AT THE non-negotiable PRICE they sold you included the value of land since Singapore Land Authority siphoned off part of the purchased price paid for.

    SUCKERPOREANS indeed.

    My ticklish toes giggles uncontrollable when PAPpypolitics tells the world SUCKERPOREANS own their “public housing” (not private, mind you) flats.

    PAPpypolitics has always been and will always be a meandering river of endless lies, scams and deception of peddling 1% truth, 99% lies, fantasy and propaganda.

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  • CheesepieMIWs:

    Tenants but still need to pay property tax!

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  • oxygen:

    @ CheesepieMIWs:

    AND FOR SOME “LUCKY” SUCKERPOREANS still have to pay additional RESALE LEVY to the developer (long after the developer is paid for the structure and land together) upon the sale of that DIMINISHING ‘TENANCY” rights to another suckerporean or PR.

    This has never happened anywhere in commerce/industry WHERE YOU PAY THE DEVELOPER TWICE FOR THE SAME PURCHASE not written in contract.

    In other words, contract law applies to all others in business transactions but not the self-select monopoly in LEE-jiapore.

    Ownself-made-ownself law in the land supposedly pious of “rule of law” sanctuary promised to peasants.

    CheesepieMIWs: Tenants but still need to pay property tax!

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  • PAP CLOSE DOWN:

    Ya lor, what the F?

    CheesepieMIWs:
    Tenants but still need to pay property tax!

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  • CONdoMillion:

    But million-dollared condoniniums also 99 years only.
    Only Freehold ones are real deals.
    Landed freehold properties are still the best for those with kids.
    If you are single or childless,its still ok .

    Some big property developers also sell 99 years leasehold when the land the condo sits on is Freehold?

    Sgs who can afford especially with kids should try and buy Freehold Landed like older terrace houses.

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  • TUMASIK Patriot:

    Nothing WRONG with “99″ or even”60″ as in HK leasehold if it is reasonable and affordable for the COMMON man to raise a family and roof above their HEADS with their normal take-home salaries…

    Very x3 WRONG if it is meant for Speculation and keeping up with Joneses for the ordinary trying to Claim they have ARRIVED!!!

    “THINK” Simon and don’t be simple and just ‘think’

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  • xoxo:

    HDB lease must be GRANTED EXTENSION at token fees.
    If HDB is short,Go TEĹL H$K to get from SGS RESERVES.
    This is for sgs’ HDB flats only.
    Not for non-citizens.
    HaLEEma must approve.

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  • vote 999:

    All vote to put a 9 in front of 99.

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  • Harder Truths:

    There is one rule people should never forget.

    “The casino never loses”.

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  • Samuel S:

    This is how PAP defines tenants – HDB says you are tenants because they don’t want to have the power of negotiate. SLA says you own the flats and the flats sit on government land, hence you need to pay property tax! I wonder those people who rented HDB flats need to pay property tax?

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  • Not fair leh:

    Should have returned then the land cost portion.
    Maybe 30% of the original buying price.
    or at least give them some priority to get another flat.
    Actually this appreciating HDB asset for future retirement is pure nonsense.
    Who was responsible for this ?

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  • oxygen:

    @ Samuel S

    Another page of PAPpypolitics windy happy contradiction. Don’t want to exert power to negotiating with peasants? Really?

    Where is the (missing) table on this one, let alone fanciful thoughts of “negotiation” and “power” pivot?

    Samuel S: This is how PAP defines tenants – HDB says you are tenants because they don’t want to have the power of negotiate

    They just did this to some peasants!!

    oxygen: AND FOR SOME “LUCKY” SUCKERPOREANS still have to pay additional RESALE LEVY to the developer (long after the developer is paid for the structure and land together) upon the sale of that DIMINISHING ‘TENANCY”

    This is brutal WEALTH EXTRACTION without negotiation with peasants (whom they euphemistically called “tenants”).

    PAPpynomics of public housing is just TALKING THROUGH THE THICK GLASS OF OPAQUE TRANSPARENCY.

    And this comedy to boot too?

    Samuel S: SLA says you own the flats and the flats sit on government land, hence you need to pay property tax!

    If peasants owns their public housing flat (AND TO AVOID DOUBT) will banks like LEE-jiapore-India bank, as an example, accept HDB flats as mortgage assets/collateral in support of bank credit borrowings from peasants?

    And since the “tenants” own the HDB flats, can a tenant whom the “owner” (also called tenant) of HDB flat then sell away the flat to any interested next buyer, in which one or two bedrooms have been let out to him and her in rental accommodation?

    THE LANGUAGE OF PAPpypolitics and PAPpynomics, it seems, screw up the language of (property) law.

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  • #06-195 Stoopid Girl:

    All so stooopid. Believe in sweet deception.

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