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Should PRs Leaving SG be Allowed to Keep HDB Sales Proceed?

Scion

By Scion,
in Investment & Financial Matters

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Nzy

Nzy

Twincharged

CPF money is their money. So why cannot take it out when they decide to leave?

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Baal

Baal

Supersonic
  On 6/18/2014 at 7:00 AM, Scion said:

 

 

agreed

 

should implement a rule instead that a PR must convert to citizenship within 5 years, or he/she must say bye bye and sell away whatever flats he has in Singapore

 

+ return all excesses..

The returns on currency exchange already tarn gg.

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Acemundo

Acemundo

Supercharged
  On 6/18/2014 at 7:27 AM, Jman888 said:

 

 

the different is no other country like singapore where public housing occupy 70%-80% of the property market, most countries dun even have public housing, hence the norm of the public housing (hence its pricing) is as good as what one can get from the market.

 

 

that was also my point of contention.

 

are resale hdb flats subsidized or unsubsidized?

 

from the way they administered it, it would appear subsidised and hence should not be a commodity free for all.

 

but if we are of the view it is unsubsidized, why have rules that even some singaporeans are prohibited from buying resale hdb directly?

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Jman888

Jman888

Moderator
  On 6/18/2014 at 7:16 AM, Scion said:

 

 

that's the part i don't understand

 

very often i hear that someone's PR wife cannot get citizenship (some can't even get PR), even when they have children here

 

why those who are committed to Singapore cannot get citizenship, while those who leech get all the benefits and privileges

 

is the economic value of an individual so important to our govt, that his/her loyalty and commitment come second?

 

 

this is very true if the govt have a choice, for the so-call committed but non-contributing one, the value is as good as none.

 

Just like hiring a mercenary, get the job done (of course also get paid for) and get out, they view these people as temporary and if they stay longer, they are leeching more benefits when they get old and no longer contributing.

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Joseph22

Joseph22

Turbocharged
  On 6/18/2014 at 7:32 AM, Mockngbrd said:

They should only be allowed to have their CPF in monthly installments

Let's just remove their cpf altogether.

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TVT

TVT

Supercharged
  On 6/18/2014 at 7:31 AM, Nzy said:

CPF money is their money. So why cannot take it out when they decide to leave?

 

Because this is the CPF rule.

 

If every citizen abides by this rule, then why not PR and foreigners?

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Albeniz

Albeniz

Turbocharged

HDB flat cost ~$500,000.

 

I am very surprised that it is called "subsidized housing".

 

With that type of price tag, I assume that cars in Singapore are also heavily subsidized too?

 

 

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Jman888

Jman888

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  On 6/18/2014 at 7:33 AM, Acemundo said:

that was also my point of contention.

 

are resale hdb flats subsidized or unsubsidized?

 

from the way they administered it, it would appear subsidised and hence should not be a commodity free for all.

 

but if we are of the view it is unsubsidized, why have rules that even some singaporeans are prohibited from buying resale hdb directly?

 

 

i believe whatever rule that singaporean cannot buy resale hdb also apply to PR, hence the flat cannot be seen as subsidised.

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Tigerwoods

Tigerwoods

Turbocharged
  On 6/18/2014 at 7:32 AM, Mockngbrd said:

They should only be allowed to have their CPF in monthly installments

Yes - the most logical post today !

Must be fair mah... Must apply the same rules !

This will make them think hard...

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Ktglfc

Ktglfc

Hypersonic
  On 6/18/2014 at 7:09 AM, TVT said:

 

If he says "Singapore belongs to everyone", then everyone should do NS, isn't it ? [:/]

Singapore belongs to everyone, but not everyone loves Singapore, and is willing to die for.

Those that aren't prepare to die defending, should not entitled to core benefits that locals are enjoying.

  On 6/18/2014 at 7:32 AM, Mockngbrd said:

They should only be allowed to have their CPF in monthly installments

Yup, same treatment as locals like us :)

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Ender

Ender

Hypersonic

Limit the reselling and selling of public housing to citizen. This will reduce demand and hopefully lower public housing prices too. no one is the 1st place should see public housing as a appreciating asset.

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Baal

Baal

Supersonic
  On 6/18/2014 at 7:36 AM, Albeniz said:

HDB flat cost ~$500,000.

 

I am very surprised that it is called "subsidized housing".

 

With that type of price tag, I assume that cars in Singapore are also heavily subsidized too?

 

 

 

U may not be far off, I read in Torque Mag a couple of mths back where editorial mentioned that Drivers/Car owners are grossly undercharged in view of the millions & billions spent on the necessary infrastructure.

 

U cant beat such logic. [confused][:(]

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Scion

Scion

Turbocharged
  • Author

the objective of HDB was initially to provide affordable public housing to Singaporeans... to help the people have a sense of belonging and commit to the nation that was just newly independent

 

 

don't know since when it became a distorted type of investment tool that was exploited by many

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Acemundo

Acemundo

Supercharged
(edited)
  On 6/18/2014 at 7:37 AM, Jman888 said:

 

 

i believe whatever rule that singaporean cannot buy resale hdb also apply to PR, hence the flat cannot be seen as subsidised.

yep that's a fair interpretation.

 

although I did remember some official (if I recall correctly) stand that all HDB flats are subsidised. I think the rationale was that the first hand buyers did receive a subsidy and that will have an effect on the resale price transacted. plus if it was truly private flat, it would have been on par with pte apartments and condo prices.

Edited by Acemundo
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Galantspeedz

Galantspeedz

Turbocharged
  On 6/18/2014 at 7:25 AM, Tigerwoods said:

PRs or any foreigner should only touch Pte property period.

 

Foreigners and PRs can onlyBuy Brand new Pte Property (leasehold, with a substantial govt tax compounded on it) and if they want to sell, sell only to Citizens.

 

 

Pte property can.... but pls don't let them buy landed property.......... if not, very soon... foreigners will own our land....

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Albeniz

Albeniz

Turbocharged
(edited)
  On 6/18/2014 at 7:37 AM, Tigerwoods said:

Yes - the most logical post today !

Must be fair mah... Must apply the same rules !

This will make them think hard...

 

Yeah right. Withdrawing the cpf money in installments is a great idea.

 

We are afraid they would squander all the money on some mistresses if they withdraw the money in 1 lump sum.

 

I thought there was a news of someone losing 1 million just over a short period of 1 year?

Edited by Albeniz
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