TR EMERITUS

Despite his sustained effort at the National Day Rally to justify the need for foreign talent, Prime Minister Lee Hsien Loong has failed to convince every Singaporean. In fact, some are emotionally unable to accept the Prime Minister 's statement. At a dialogue session chaired by Minister of National Development Mah Bow Tan and REACH Chairperson Dr Amy Khor, 60 out of the 100 grassroot leaders who attended the event expressed their dissatisfaction on the Prime Minister's reasons for foreign talent. The event took place at the National Community Leadership Institute. Prime Minister Lee Hsien Loong The topic of new immigrants was the focal point at the 2-hour dialogue session. Out of the 20 questions raised, half were on new immigrants. The scope ranged from whether new immigrants should undergo military conscription, whether new immigrants should enjoy citizen's privileges immediately upon gaining citizenship, how to resolve lifestyle and cultural differences between new immigrants and Singaporeans, etc. A grassroot leader from the Bukit Timah Constituency said, although Singaporeans enjoy the privilege of 2 ballots for their children's primary school application, many parents feedbacked to him that there are many immigrants who apply for citizenship so as to enhance education opportunity for their children. As a result, children of local parents are being "deprived" of opportunity to attend the primary school of choice. Mah Bow Tan responded that the decision of switching nationality to Singapore is a major life decision, so the Government will not dictate how long a new immigrant must maintain his Singapore citizenship before he/she can enjoy the privileges of a Singapore citizen. Mah Bow Tan said: "The prime minister made it very clear. Unless there is an economic slowdown, the current population of 3.5M citizens and current total fertility rate of 1.2 would be acceptable. There would be no need to attract foreign talent and the government will try every mean to appease Singaporeans' discontent. However, without new immigration, Singapore's total population would reduce, the economy would go down, the Singapore Armed Force would be understaffed and Singapore would no longer be a vibrant city. Such a Singapore would be an unattractive place." He also emphasised that Singapore should not be another Dubai, whereby immigrants form 90% of the population and locals form the remainder. Although the citizens enjoyed special benefits, it is hard to say such benefits can continue in the event of a crisis. Whatever become of the country during the crisis will be very hard to say. Mah Bow Tan compared Singapore to an engine. It is very difficult to restart an engine, so when engine slows down, everybody must chip in to help. The government and citizens are obligated to provide fuel for the engine, so that the engine can sustain its momentum. Bank employee Muthu commented that many Singaporeans who are planning to get hitched delay childbearing because they are unable to purchase a HDB flat. He implored the government to build more new housing estates so as to enhance Singapore's birth rate. Mah Bow Tan retorted that if young couples are indeed committed to start a family, the government would have announced the construction of more HDB flats. However, starting a family involves more than just availability of HDB flats. It also involves personal choice and career development. Building more HDB flats will not spur the birth rate. He added that 10 years ago, the HDB had over 35,000 unsold flat. HDB was unable to clear the surplus even it "begged" and this situation lasted until 2006. This situation persisted because many people thought the price of public housing would continue to fall. Unexpectedly in 2007, the real estate market boomed as HDB prices climb while more and more people rushed into the market. This resulted in today's practice whereby the HDB adopted the BTO scheme to assess housing needs. Next week, REACH will conduct a series of public feedback exercise on the Prime Minister's National Day Rally speech. This is a non-verbatim translation by Donaldson Tan, original chinese report by Lin Pei Bi of Lianhe Zaobao 总理国庆群众大会演讲反应民情组首场对话会就新移民课题大部分与会者不满意总理解释 李显龙总理在国庆群众大会上花费许多唇舌，向人们解释新加坡需要借助外来人才和引进客工的重要性，可是显然地，不是每个人被完全说服，一些在情绪上还是不太能接受总理的说法。 国家发展部长马宝山和民情联系组（REACH）主席许连碹博士昨晚在基层领袖俱乐部主持首场针对总理前晚演说的对话会上，约100名出席者当中，六成举手表示不满意总理的解释。 在长两小时的对话会上，新移民继续成为焦点课题。与会者提出的近20道问题，有一半与新移民相关，范围从新移民是否应该强制服兵役、他们是否应成为公民后，立即享有与新加坡公民同等的待遇、如何解决新移民生活方式和文化背景的不同等。 一名来自武吉知马选区的基层领袖就表示，虽然新加坡公民可在为孩子报读小一时享有两次抽签机会，可是最近许多家长向他反映，不少外来移民为了让孩子报读心仪小学，特地申请成为公民，以享有多一次抽签机会，本地家长因此仍然觉得孩子报读小学的机会被“剥夺”了。 马宝山回应时指出，决定放弃原本的国籍，成为新加坡公民，对新移民来说是重大的人生决定，因此政府不会规定他们必须成为公民多久后才能享有公民的待遇。 他说：“总理说得很明白，如果我们不需要增加人口，安于现有的350万名公民，每年1.2的超低生育率，经济放缓，那我们就不必花那么多心思去吸引外来人才，还得想尽办法安抚新加坡人不满的情绪，可是现实是我们不能这么做……因为没有新移民，新加坡人口10年后会减少、我们的经济会受影响、国民服役人员不足，这个城市将变得没有活力，到时新加坡将不再具吸引力。” 他强调，新加坡也不要成为迪拜，那里有90%人口是外来移民，10%的当地公民虽然目前享有一切好处，可是一旦发生危机，国家局势会变得如何，谁也说不准。 马宝山说，当一台引擎慢下来，要重新启动将是困难的，而新加坡目前就有如一台马力十足的引擎在行驶着，政府和人民有必要提供它充分的燃料，让它继续保持这股冲劲。 银行从业员穆迪表示，很多准备结婚的年轻人因为买不到组屋而延迟生育计划，他吁请政府建造更多新组屋满足需求，从而协助提高生育率。 马宝山开玩笑说，如果年轻夫妇都承诺生育，那么要政府马上宣布为他们兴建组屋并不难，可是生育问题并不是靠买组屋就能解决，因为它还牵涉到个人意愿和事业发展等多方面。 他说，10年前，建屋发展局当时有多达3万5000间组屋滞销，即使建屋局以“求”的方式也卖不出去，这个情况一直延续到2006年，因为人们总觉得组屋价格会继续下跌，可以再等一等。 不料2007年，房地产市场红火起来，组屋价格节节上升，人们却在这个时候一窝蜂涌入市场要买房子，才形成今天建屋局不得不采取预购组屋（BTO）的形式来评估需求。 民情联系组将在下来一个星期，继续收集人们对总理国庆群众大会演讲的反应。 有兴趣者可上网www.reach.gov.sg提出意见。   8月31日2010年，林佩碧， 联合早报  Read More →

A Singaporean by the name of Tan Tien Li has written to the Straits Times Forum to complain about the new rules introduced lately to curb speculation and to cool down the property market, especially that of resale HDB flats. (read letter here) Under the new regulations, home owners who want to move house will have to provide evidence that they have sold off their homes before they can quality for an 80 percent loan on a new property. For those who are getting a second home for investment purposes, they can only obtain a 70 percent loan. According to the Monetary Authority of Singapore (MAS), the owners will have to produce a signed sale and purchase agreement as well as a certificate to show that the buyer of their existing property has paid the stamp duty for the purchase. The new rules are likely to hit Singaporeans planning to upgrade from HDB flats to private housing like Ms Tan who feels she is penalized by the government's bid to stabilize the property market. "The new policies do not help home owners like me who have an existing HDB housing loan to service. For one thing, we must fork out 30 per cent in down payment to qualify for the 70 per cent LTV rate," she wrote. The prices of Singapore properties have sky-rocketed in recent years due to the rising demand fueled by the relentless influx of foreigners into Singapore, thanks to the PAP's pro-foreigner and ultra-liberal immigration policies. Prices of HDB flats have almost doubled over the last three years with the median Cash-over-Valuation of resale flats hitting a shocking $50,000 in some areas, sparking fears of an evolving property bubble. After months of denial, National Development Minister Mah Bow Tan finally admits that the prospects of a property “bubble” evolving in Singapore is very real indeed. “We think that if we do nothing, there’s going to be a bubble. And when the bubble bursts – not if – there will be severe implications for individuals as well as for the economy as a whole,” he was quoted as saying in the Straits Times. Ms Tan ended her letter by highlighting the difficulties she faced: "I was advised to sell my HDB flat first if I wanted to enjoy an 80 per cent loan rate. But with a one-year-old baby, where can I stay while the executive condominium is being built? Besides, can selling our home first assure us of a unit at the executive condominium?" Ms Tan should consider herself lucky compared to fellow Singaporeans who cannot afford to buy a HDB flat or those who bought theirs at today's astronomical prices. When the values of their flats plunges, the banks will increase the interest rate and come knocking on their doors for them to pay for the difference in the valuation and their mortgage.   Debunking official myths of HDB flats series: 1 Myth 1: Singaporeans are “owners” of their HDB flats 2. Myth 2: HDB flats are “affordable” to most Singaporeans 3. Myth 3: Rising prices of HDB flats “generate” wealth for Singaporeans   Related articles: >> HDB releases 3,000 flats in a single day >> Mah admits there is a property “bubble” evolving >> New rules to prevent private property owners from speculating in resale flats >> Mah blames Singaporeans for strong demand in public housing >> Mah: 16,000 BTO flats next year >> Median COVs hit a record high >> $300,000 for four-room BTO flats in Punggol >> Mah Bow Tan: HDB flats are still affordable to first time flat buyers >> Why Mah Bow Tan’s policy of high HDB flats is wrong >> Letter to Mah Bow Tan on HDB policies >> Singaporean want govt to allay anxiety over HDB leasehold >> Mah Bow Tan embarrassed by Reform Party’s Hazel Poa >> Mah Bow Tan: “Unrealistic” expectations to blame for unhappiness about flats >> Taiwanese PR paid record $ 650,000 for 4-room resale flat >> Grace Fu: PRs are helpful to HDB flat owners selling their flats >> HDB launches “traveling exhibition” to trumpet its achievements in the heartlands >> PAP to upgrade 12,000 HDB households ahead of next election >> Mah Bow Tan: We do not want flat prices to go down >> Prices of resale flats to rise further as PR quota reached >> Taiwanese PR offers $50k COV for resale flat >> Mah Bow Tan: PRs have minimal impact on resale flat prices >> No empirical evidence to suggest that public housing is affordable in Singapore >> When will Singapore’s property bubble burst? >> Why HDB is unable to reveal break down costs of new flats now >> HDB to consider introducing rules to curb property speculation >> HDB blames Singaporeans for not selecting flats when given the chance >> Singaporeans worried about retirement after depleting CPF to pay for over-priced HDB flats >> Mah Bow Tan acknowledged that rising HDB flat prices has sparked “fresh concerns” >> PM Lee: Govt does not have control over prices of resale flats” >> COVs of resale flats shooting through the roof >> HDB resale price index hit record high in 2009 >> Singaporean wants PRs to live in rented flats instead of buying resale flats >> Singaporeans wants PRs to be banned from selling HDB flats at a profit >> Shanmugam: Singaporeans likely culprits for driving up HDB flat prices >> Mah Bow Tan: HDB flats remain affordable >> Means testing for PRs to buy resale flats >> Immigration and public housing: should the govt or people plan ahead? >> Grace Fu: hard to predict demand for housing >> Indonesian PR bought 4-room flat at $653,000 >> Mah Bow Tan asks home buyers to be realistic >> PAP MP blames young couples who cannot get a flat for not planning ahead >> Home affordability: HDB versus the public >> Demand vs supply: so many applicants, so few flats >> Number of applicants exceed number of flats >> HDB to increase supply of flats >> Mah: don’t compare with prices in the past >> ERA: 40 per cent of HDB flat buyers are PRs     Please join our Facebook discussion on this article here and invite your friends to do so as well to raise awareness among fellow Singaporeans.  Read More →

The latest policy for stabilising the public housing and private property prices seem unhelpful to the majority of Singaporean except the 1st timer. If the Goverment focus is to help first timer to get their first HDB flat and get married to settle down, Government just need to build more HDB and complete early for them. But to soften the prices of resale HDB, private property or new private project, the point and rationale must correct. If the Government really want to have enough public housing supply in the resale market to stabilise the price, the best way is to go back to the 90s policy : 1.) Private property owner who own HDB flat or intend to buy must occupy the HDB flat and lease out their private flat. The current abuse for the last few years was because government allowed private owner to buy HDB and keep until it can be legally sublet, making it illogical that private owner can reap high rental yield on public housing and staying in their luxury home, as our Minister Mr Mah said public housing are meant for the ordinary Singaporean and owner occupation. I don't think Government is blinded to this fact that those who already bought would not sell and enjoy the best of both world that they just continue to rent their HDB flat and stay in their private house causing a lack of supply in public housing. Restricting private property owner to buy HDB flat would not increase the supply in the resale market and stabilise the price as PR are competing with ordinary Singaporean for public housing. The policy and rationale should be genuine private property owner who intend to buy must stay in their HDB flat and rent out their investment private property, making it logical as elderly Singaporean who wants to stay in HDB can get some income from renting their private apartment rather than being force to sell it off. For those who do not want to occupy HDB flat that they currently owned, they would have to sell it in the resale market say within 1 to 2 years period, making it fair to the existing owner to decide their intention instead of allowing them in abusing public housing for high return. 2.) Resale HDB flat is similar to new one of MOP is 5 years. I am amused by the 5 year period before it can resell again, this make it worse in supply of public housing and preventing HDB owner from upgrading to private property. Government should not worry about HDB upgraders will cause the price of private property to surge as this are mostly mass market, the real increase in private property prices is the rich speculator and not this group of HDB upgrader. I believe the new rules of 70% loan for 2nd property and stamp duty for resell within 3 years is fair, I suggest it be reduce to 60% or lower for 2nd property loan is enough to control and prevent property bubble without implementing policy that affecting the innocent group. If my above feedback is appreciated, the MOP can remain as it is of 3 years of resale flat and 5 years for new flat, making it justifiable and beneficial for the whole as a society. I wish this feedback can be seriously read by someone with higher authority to comprehend the rationale and convey to our respected Mr Mah.   Teo Bee Yong  Read More →