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Alternative norm of building rental public housing

Is this alternative norm of building rental public housing a way for the government to get more funds from people through public housing?

Aren’t we already “renting” our HDBs for the long term?

It’s 99 year’s lease, isn’t a “lease” a form of “tenancy” or “rental”?

The only proposal they are suggesting is the alternative would be monthly short term rental.

Being conservative economically, I feel that this is a bad idea as a home could be seen as short term place of stay instead of an actual longer term home.

Also what would happen if people are unable to pay rent?

What are the mechanism behind this? Cash payment to HDB or do they accept CPF payments?

Another reason I feel that this is not a good idea is, the current Singapore government from PAP does not spend taxpayers funds on public housing (HDB/SLA) instead they receive more funds from the public or people who pay for their public housing HDB flats.

These funds proceeds whether be it deposits or installments goes to HDB. HDB pays SLA for land cost, so the government’s narrative is “HDB loses money for every flat they sell after factoring in housing grants”.
This is irrelevant, why?

HDB is government stat board, SLA is also government stat board, it’s 1 government stat board paying another government stat board. There is no outflow of spending towards public housing if we consider the government to be somewhat like a group of companies where the transfers are internal but there is no actual outflow net spending.

Will this new proposed housing model enable the government to collect more money than it already does for public housing, instead of spending taxpayers funds towards public housing, from a net cashflow perspective?

 

Prabu

* Article first appeared on Real Issues in Singapore
.
 

yyy
READER COMMENTS BELOW

20 Responses to “Alternative norm of building rental public housing”

  • oxygen:

    BUILDING HDB FOR RENTAL only (instead of a 99 year lease) is a GOOD IDEA. There will be a “competitive” market to keep HDB prices down for those who wants to “buy”. Demand will be smaller relative to a given supply.

    People will look at the opportunity costs of the compared alternative and decide whether or when to “buy”. They can rent until the property market collapse and then buy in cheaper. And they can apply their savings to fund alternative investment space for better return.

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  • Property Tax:

    Next year property is quite high .

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  • opposition dude:

    The PAP has always come out against rentals since they claim they want Singaporeans to own an asset. Only dafts still truly believe that they own the flats they stay in since the truth has been made known years back and PAP doesn’t say much more about their “80% of Singaporeans own their flats” tagline like they did in the past.

    For as long as PAP is in charge everything they do or suggest is to make money. From CPF to HDB to public transport it’s all about $$$. So if they suddenly decided to rent instead of “own” you can bet your life savings that the rent will be going up yearly and the silly reasons of either “only a small increase” or “hasn’t gone up in 4 years” will be used.

    So irregardless whether it’s renting or not we are still screwed either way simply because PAP is in charge. No need to even discuss the pros and cons of a rental model at all.

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  • Stupid Singaporeans:

    The writer tried too hard but Singaporeans are stupid they won’t understand simi internal transfer.

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  • xoxo:

    Like that say,99 years condos also *rental* houses only ???
    Why no one talk about it?
    And,condos much more pricey?

    So,buy FREEHOLD LANDED IS BEST IF YOU CAN AFFORD.

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  • Zinc:

    Time stood still as a sg citizen.

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  • Zinc:

    6 words that has the same meaning for twilight zone

    1) dream world
    2) nightmarish world
    3) hallucinatory state
    4) no man’s land
    5) borderline case
    6) grey-area.

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  • Why Must Pay Property Tax ?:

    I stay in a HDB flat and I do not intent to sell or rent my flat out. I am now 70 years old and not earning any income as it is difficult to find a job at this age.

    The government requested me to pay property tax for for my HDB flat for next year and I do not know where to get the money to pay them. As it is I am struggling to find money to buy food for my family.

    Can I plead with the government to stop pressuring us to pay the tax unless we are selling or renting out our flat.

    Currently the Covid 19 situation is very bad for all of us. Unless the government wants all of us to jump down from our flats.

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  • Harder Truths:

    Caveat Emptor.

    If people want to change things, they can vote out the incumbents. But slaves seldom do that.

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  • Harder Truths:

    Why Must Pay Property Tax ?: I stay in a HDB flat and I do not intent to sell or rent my flat out. I am now 70 years old and not earning any income as it is difficult to find a job at this age.

    Unfortunately Bro’ I have heard from those $heeple renting that it is heave for them since CoVID because the rental has gone through the roof. These people live off the FT and because FT take up $G jobs they also hence live off $inkies’ jobs and earnings.

    anything to do with rental is business from FT. This is a key area of $G population that will never vote against the Regime. Until the FT take over and kick them out, then it will be too late.

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  • Pricing Mechanism:

    Lowagers earn less than $1500 gross wage.
    Take home pay, $1300.

    Monthly Cost of Basic Neccessities:

    Grocery ($100/week) $400
    Public transport fares:
    working parent and 3 kids (Pr/Sec) $400

    School meals (morning & afternoon) $200
    (Working parent – homecooked food)

    Utilities $200

    Conservancy charges $50

    Total expenses excluding Rent $1250

    So Rental of 2-rm flat $50? (ngam-ngam)!

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  • John Doe:

    Public housing is a political tool of the PAP Administration manipulation tying in with CPF, to win VOTES, maintain choke hold of Singaporeans, as the single most important arsenal of the PAP.

    Obviously the PAP claimed public ‘sale’ of flats is to encourage growing familial ties, encourage marriages. But why the birth rates has been diving and diving over 20,30 years? Why. Why. Why.

    Think tnink think. It’s bloody much much more than what PAP tells us for donkey years – join up ALL THE DOTS and MOST IMPORTANT HOW MUCH OF DISPOSABLE INCOME of a worker HAS BEEN BANKED INTO PAP POLITICAL Vaults contributing to PAP Ministers MILLIONAIRE pockets.

    Why is this existing rental scheme has left to fallow for moons? Why are there so much ‘artificial obstructions’ for rental housing to support buying Store of Value HDB flats.

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  • John Doe:

    Public housing, monopolized by HDB, with complimentary pte residential housing is WEAPONIZED by PAP Administration as a means to win VOTES, control SGpns (to restrict SGpns for migrating), manipulate living standards, maintain power grip year after year.

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  • illiterate pap voters:

    1, ever increasing prices of public housing is a confirmed source of misery for cotton sheep UNLESS HDB price increases are in tandem with median wage increases.

    2, rising public housing prices cannot, in any manner of speaking, be a good thing because there will soon come a day when majority of cotton sheep shall find that after a lifetime of working, there is still HDB debt to be paid after retirement.

    3, for a prepaid HDB unit to be priced over S$1m in the secondary market cannot be a good thing. cotton sheep who think it is a good thing just fail to realize HDB is, in truth, just a 99 year lease prepaid rental, a consumption, never an asset.

    hahaha.

    But as long as cotton sheep votes pap, all we can say is, we hope cotton sheep wakes up quickly before the public housing in pap island tragedy becomes non reversible.

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  • illiterate pap voters:

    Pricing Mechanism:
    Lowagers earn less than $1500 gross wage.
    Take home pay, $1300.

    Monthly Cost of Basic Neccessities:

    Grocery ($100/week) $400
    Public transport fares:
    working parent and 3 kids (Pr/Sec) $400

    School meals (morning & afternoon) $200
    (Working parent – homecooked food)

    Utilities $200

    Conservancy charges $50

    Total expenses excluding Rent $1250

    So Rental of 2-rm flat $50? (ngam-ngam)!

    So, cannot get sick to see any GP. There is no budget for such a luxury.

    pap PA paid IBs say, S$1,000 pm can HDB and also polyclinic.

    hahaha.

    S$1,000 pm can HDB depends on what we mean by HDB.

    And pap polyclinics cost even more than GP, this treatment source is, in truth, outside logical consideration.

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  • NotMyProblem:

    Stupid Singaporeans:
    The writer tried too hard but Singaporeans are stupid they won’t understand simi internal transfer.

    Maybe this could explain; The Government took your money, put your money in its right pockets then from the right pocket put to its left pocket. Then the government shows the right pocket and say it is losing money.

    All this right pocket to left pocket transfer is done with smoke and mirror. During the transfer, some money are deliberately “drop” into some other pockets!

    If anyone asking for the “drop”, he/she will be POFMAed !!

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  • illiterate pap voters:

    Why Must Pay Property Tax ?:
    I stay in a HDB flat and I do not intent to sell or rent my flat out. I am now 70 years old and not earning any income as it is difficult to find a job at this age.

    The government requested me to pay property tax for for my HDB flat for next year and I do not know where to get the money to pay them. As it is I am struggling to find money to buy food for my family.

    Can I plead with the government to stop pressuring us to pay the tax unless we are selling or renting out our flat.

    Currently the Covid 19 situation is very bad for all of us. Unless the government wants all of us to jump down from our flats.

    all HDB units are owned by HDB.

    occupiers are lessees, whether on lumpsum prepaid upfront basis or on monthly payment basis.

    THEREFORE, HDB rightly must pay property tax and not occupiers.

    just like GST on water conservancy tax which is wrong since it is GST on a tax.

    Of course to expect pap to do the right thing is to expect a pig to climb trees. It ain’t going to happen. After all, pap is filled with S$m ownself pay ownself folks of the non performing kind. pap folks all lack the brains to do the right thing. The only concession we can give pap is they are very good in one thing, and one thing only, which is in their FIXING of oppo.

    pap PA paid IBs say, you are wrong because pap folks are also very smart in making S$m for themselves.

    hahaha.

    good try. pap folks are actually stealing S$m they pay each other via a pliant pap parleeement. in any honest parliament, what pap has legislated is absolutely a no go anywhere else outside pap island, no even in UMNO does such underhanded self enriching schemes allowed to take place.

    don’t want to pay property tax on HDB. simple. vote into government a smarter group of Singaporeans. THERE is no other way.

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  • xoxo:

    Build more *rental* hdb?
    Whats that?
    Will the NET EFFECT be a HIGHER COST OF HOUSING eventually compared to *PURCHASED* HDB?

    This govt has been hatching $chemes to $uck blood(money) from poorer sgs,including seniors n jobless,like via *convenient* tax method$ like g$t but so reluctant to render much needed PUBLIC ASSISTANCE TO OUR OWN NEEDIER sgs even as THEY RAID OUR sgs’ RESERVES TO DI$H OUT to NON-sgs making a good living here; that,to the tune of $100 BILLION,without any hesitation or GRUMBLING LIKE TELLING OUR YOUNG THAT OFFERING ASSISTANCE TO JOBLESS OLDER sgs will lead to HIGHER TAX BURDEN for the younger citizens?

    WHO HELPED ACCUMULATE THE CURRENT RESERVES( totalling $1TRILLION ,as guesstimated) in the first place?
    The younger sgs,the FTs ?

    In the name of JOBS SAVINGS ,hidden under nice sounding SOCIALLY CONNECTED WORDS LIKE SOLIDARITY N RESILIENCE,H$K N PM LEE RAIDED $100 BILLION TO GIVE A HUGE PROPORTION TO CORPORATES,INCLUDING TH stable of companies,TO ASSIST THESE CORPORATIONS in $SUPPLEMENTING THEIR WAGE COSTS.
    BUT,when these corp$ reported BIGGER PROFITS than pre-COVID years,THEY NEVER VOLINTEER TO RETURN THE GRANT$ THEY TOOK FROM THE PAP GOVT.
    Instead,their CEOs n TOP EXECUTIVE$ loudly boast about THEIR KPIs and so CLAIM BIG BONUSES while RESERVE-BUILDING needy n jobless senior sgs received $600 out of a claimed amount of $23.5 K PER CAPITA!

    H$K ,PLS BE HONEST N RESPONSIBLE.
    CAN YOU ASK CEOs like DBS’s PIYU$H GUPTA TO RETURN THE HUGE GRANT$ YOU GAVE THEM AND RE-ALLOCATE THESE MONIES TO COVER THE SHORT-CHANGE OF $23K YOU TOOK AWAY FROM SINGAPOREANS WHO GOT ONLY $600?

    PLEASE ASNWER me

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  • Tpe:

    Toy shop boss need more pay so need to make more toy house

    To sell.also must sell more expensive.

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  • Truthful:

    Now that so many senior gone due

    complications,more empty rental flats.

    Same time built more toy house, what so call “prime area”and sell them high high!

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