How does HDB define market subsidy?

[Piyopico]

Was at HDB today for my appointment after selling my flat.

 

Looked around and saw Punggol Spectra being offered on BTO but to apply online. They are actually building 2,3 and 4 bedrooms together as one precinct. Two bedroom flat starts from S$89,000. The 4 bedrooms start from 249K till 290K or thereabout.

 

The prices seem to be a bit lower but the catch is that to buy a two bedroom HDB flat you have to eran less than 2k(household). So I believe very few will qualify. Be quick if you interested cos it will stop on 14th Sept. You need to "qualify" as a low income earner though.

 

What is happening to HDB now? The prices seem unreal for a "subsidised" flat. We are supposed to be in a recession ......... notwithstanding the official spin doctor clarification from HDB that it is still affordable.

 

Guess what I can actually qualify to apply from HDB again and get subsidised price without paying the levy cos I can "tag' my mom as the seller.

 

Edited September 8, 2009 by Piyopico

[Tarzan666]

So how much did u gain from selling ur old flat..

 

levy in place to stop people from profiteering mah..now where they allow people to profit,

if wanna make profit, they will make the 1st cut.

 

maybe can appeal to HDB if u acherly make a loss..

[Silver_blade]

They had explained that they are giving a 'market-subsidy'...meaning selling cheaper than similar flat, in the area, in the opn market.

[Piyopico]

I make above 100K.

 

I can apply again for a subsidised flat. Good, may try if the prices moves down. However the price gap of a subsidised flat and a resale flat has became insignificant. Still need to wait a coule of years for HDB to build. Understand the frustration of people applying for their first subsidised flat. Caught between flying pan and deep sea..............

 

[Ultramega]

Guess what I can actually qualify to apply from HDB again and get subsidised price without paying the levy cos I can "tag' my mom as the seller.

 

 

How is this possible? What do you mean by tag?

[Piyopico]

They had explained that they are giving a 'market-subsidy'...meaning selling cheaper than similar flat, in the area, in the opn market.

 

Was this the same basis of determining prices since HDB's formation? If this is the case I got nothing to say except that we are caught in this unreal inflation that does not benefit anyone unless they cash out.

 

If there has been a change, I dun seem to recall this being debated or talked about in parliament. This is a very serious detour from HDB's mission and responsibilities ..........

[Piyopico]

How is this possible? What do you mean by tag?

 

Tag her means she is designated as the one who took the subsidy. If I get married and form a family unit, I can get another bite. If my mom does it, she pays the levy of 45K.