Mah Bow Tan: A HDB flat is for long-term homeownership
July 22nd, 2010 | 
Author: Speaking in Parliament yesterday, PAP National Development Minister Mah Bow Tan reminded Singaporeans not to cash in on their HDB flats for funds as they are meant to be roofs over their heads.
A day earlier, a housing Bill was passed to prevent moneylenders from lodging caveats on HDB flats to claim a stake in sale proceeds which have caused some Singaporeans to lose their flats and fortune over the past few years.
The bulk of Singaporeans’ CPF savings are tied up with HDB flats whose prices have sky-rocketed over the years. For some, their HDB flat is the only asset they ever own in their entire lives.
“A HDB flat is for long-term homeownership. I cannot over-emphasize this fact,” Mr Mah said.
However, some Singaporeans who live in private properties have been renting out their HDB flats for rental income instead of staying in them, a prime example being the case of YPAP leader Sinha Shekhar who revealed unwittingly on the REACH Facebook that he rented out his resale HDB flat while living in a condominium.
Below is a snapshot of Mr Sinha Shekhar’s comments which have since been deleted:
[Source: REACH Facebook]
In the above exchange, Mr Sinha Shekhar, who works as an occupational therapist at Thye Hua Kwan Hospital, wrote that he paid “really high” for a resale HDB flat and the rent he is collecting is not enough to pay for the bank instalments.
Mr Sinha also revealed that he owns a private property, implying that he bought the resale HDB flat NOT for staying but for renting and making money.
The fracas sparked a massive outcry among Singaporeans forcing HDB to launch an investigation into Mr Sinha. It has since cleared Mr Sinha from any wrong-doing.
Mr Mah should practice what he preaches by passing a bill to prevent private home owners like Mr Sinha Shekhar from using their HDB flats as a long-term cash cow and depriving others of a roof over their heads in the process.
Please join our Facebook page here and invite your friends to do so to create awareness of the current affairs affecting Singaporeans. Please use our online web form to contact us.
Posted in Headlines
94 Responses to “Mah Bow Tan: A HDB flat is for long-term homeownership”
Loading ...
Alex Tan Allan Ooi AWARE Chee Soon Juan Chiam See Tong Claire Lee David Widjaja DBS Dr Allan Ooi Dr Silviu Ionescu Dr Vivian Balakrishnan Foyce Le Xuan highnote5 Hong Lim Park Jack Lin Xinli Jack Neo Jack Neo affair Jack Neo scandal Josie Lau Josie Lau Meng Lee Lee Kuan Yew Lehman brothers Lighthouse Evangelism MAS minibonds Miss Singapore World NTU stabbing PAP Pastor Rony Tan Ris Low Romanian diplomat in hit-and-run Rony Tan S-League silviu ionescu Singapore Singapore 2010 Youth Olympic Games Tan Kin Lian Thio Su Mien Tiger Woods affair Tong Kok Wai Top 8 Vivian Balakrishnan Wendy Chong Y O G Youth Olympic Games
WP Cumulus Flash tag cloud by Roy Tanck and Luke Morton requires Flash Player 9 or better.
Oh yes, it is indeed a long-term and long time ownership to the government too if somebody cannot afford the conservacy fees or cgarges and the flat being “repossessed”. Mr Mah has a strong reason for saying this!
GOOD ONE @@@@ MUST READ @@@@@
Post subject:50 reasons why I will NOT vote for PAP.
1. I want to buy a house without paying a Cash-Over-Value of $100,000
2. I don’t want to be accused of being fussy if I don’t want to live on the first floor or basement bomb shelter, or ulu ulu places like Kusu Island
3. I don’t want keep hearing that flats are “affordable” when I really cannot afford flats.
4. I don’t want to see foreigners flood our condos, HDB estates, MRT trains, buses, schools, EVERYWHERE
5. I don’t want to know about how ministers are getting lots of landed and prime property both local and overseas when I have trouble getting a 3-room flat.
6. I don’t want ministers who get multi-million dollar salaries when I do odd jobs and some months I don’t make more than $2,000.
Ministers in other countries may take bribes and embezzle. My ministers are smarter, they get more money claiming more MILLIONS in salary LEGALLY.
7. I don’t want to pay ERP just because foreigners’ cars are clogging my roads. Especially, when ERP do not solve congestion problems!!! We still have terrible traffic jams!
8. I don’t want to do NS and reservist to protect my country against foreign invaders when:
(A) I don’t have a house to protect
(B) I cannot afford to start a family to protect
(C) I have to protect foreigners and their property with my life when they run away during war.
(D) Foreigner PRs do not have to serve
(E) I get paid worse than a Bangala worker. To think that National Service needed people donation’s in 1967, after a year, it gathered S$ 3 million from Singaporeans when we were all so poor.
9. I do not want to see PRs and New citizens flashing their blue and pink ICs on their national days.
10. I do not want to see the shamelessness of importing foreign athletes and claims that Singapore won when a foreigner won. Oh yes, we pay these foreigners millions of dollars so that Singapore can claim that it won. WOW!
11. I do not want to hear jeering against the SG local soccer teams from foreigner spectators when we play against other countries IN OUR OWN COUNTRY!
12. I don’t want to pay 7% more for everything I buy in my whole life when the government gives my $200 in “compensation” handouts!
13. I want to see a local student being the top student. Not some China kid. Not hearing from ours kids that there is no point to work hard as some foreigner is going to squeeze them down inevitably.
14. When there is public curiosity, I expect my government (especially Law minister) to be transparent enough let us know about Temasek and HDB cost to build a flat, etc.
15. I want my country to be known as a COUNTRY. My country is NOT just a city like some idiot claims.
16. I don’t want LHL’s son to be the next succeeding prime minister.
17. I don’t like how China suckered us in the Suzhou park initiative and we still have to kiss their assess.
18. I cannot understand why local siblings cannot buy flats when foreigner PR siblings can buy flats.
19. Singles are not allowed to buy flats before 35? Are singles supposed to be forced into marriage just because of this? By the time singles reach 35, the flat prices will be higher by $100,000 to $300,000. These singles worked very hard to scrimp and save only to see savings ERODED away by inflation!
20. I do not want to read the paper when it is pro-PAP and there is major censorship and selective publishing and late publishing for what cannot be hidden.
21. I don’t want my life-savings to be belittled as the salt on the “peanuts”.
22. I don’t like it when my country’s reserves lost tens of billions of dollars and the PM’s wife can still head Temasek!
23. I want important national assets key to our security like power stations to BELONG to our country, not sold to foreigners.
24. I like to add hum to my mee siam by the way.
25. I want a president who actually DOES more. Not one which who I seek shakes hands, seldom speaks, does not even pardon and spare a 19-year-old kid his life. Not a president who kids confuse with Mas Selamat (Many kids who know Mas Selamat do not EVEN know Nathan)
26. I don’t want to have my next national day parade at the silly riverside place….AGAIN! How long does it take to make a stadium? We are a country but we don’t even have a national stadium?? How about loaning Malaysia’s Merdeka Stadium for Singapore’s National day?
27. I want job security. A contract for 1 or 2 years, Then look for work again. The cycle repeats. We have to worry for our jobs and livelihoods on a daily basis. When we are over 40 years old, who want us anymore? I might as well join the army as sign on. But wait, that is contract TOO!
28. I don’t want the next generation to suffer like me in university. I had to work part-time to support my uni fees in NUS, while foreign students get free uni education thanks to MOE PLUS $500 allowance every month. After that, NUS still has the cheek to call me up and ask me to donate to NUS. Why they need money? They lost hundreds of millions of endowment in the financial crisis. I can still remember working and saving for 3 months before I could afford a 2nd hand laptop.
29. I want to protest in the streets to voice my discontent without being put to jail by the ISA act or made bankrupt. For goodness sake, I don’t even dare to accept Singtel’s offer of giving me free 6 months internet if I switch from Starhub to Singtel, because I am scared that my IP address and my name will be blacklisted by the government. (considering Singtel’s afflictions with the govt)
30. I want an opposition party in power. Any opposition is welcome. As educated and smart as my current and soon-to-be-ex ministers may be, I want people who CARE and LISTEN. Even if it is a guy who had graduated from kindergarten would be welcomed if he cares.
31. Elites who have been born with a silver spoon, who never had trouble finding a job, who never had money difficulties, who never went hungry, who breezed through NS, do NOT deserve my respect nor should they be in the government. We need people who UNDERSTAND what it is like at the pits and bottom! Not some shortie who claims to understand hardship with a childhood living in 3-room flat but marries an angmoh and lives in a landed mansion.
32. I want a better electoral system! I don’t want WALK-OVERs again. Some of the seniors did not even get to vote ONCE in their whole lives. How is that democracy?
33. I want fairness. Is it a coincidence that certain estates under certain members of our government are especially well-cared for with upgrading etc incentives? Is this fair? Are residents of areas under the opposition similarly cared for? I quote a resident from Potong Pasir “the lifts here are so old and I can’t climb the flight of stairs to reach my place anymore.” I supposed the 60 year old aunty would be forced to vote for PAP to get new lifts.
34. I want a limit to the number of years the PM can hold office, so that as bad and as lousy as the PM is, we can at least have a chance to start afresh.
35. I want small quotas/ratios legislated for foreigners.
36. I want foreigners to be restricted to less than 20% of our population instead of 36%.
37. MBT actually said that foreigner PRs were under-represented in HDB flats. Pah! No more than 2 flats in a block should be sold to PRs! Otherwise, how can the many old uncles and aunties have pocket money for retirement by renting out flats?
38. I want their CPF contribution percent to be much higher and that their CPF to be forfeited if they leave SG.
39. I want higher income taxes and property taxes for foreigners.
40. I want NS for foreigners.
41. Foreigners who bought HDB flats cannot be allowed to rent their flat out EVER!
42. I want the SGD to be moderated downwards! A higher SGD may benefit those who can afford to holiday overseas, those who are rich enough to send kids to overseas for studies, or PRs and foreigners when they remit money home. BUT overly high SGD deters investments into Singapore.
43. I want curbs on inflation. To that effect, we need to install restrictions on property speculation, raise reserve ratios in banks, and have more stringent criteria before loans are issued. AND OF COURSE, GST lower back to 3%
44. When foreign talent enters my country. I want these people to be REALLY foreign talent. I don’t want my country’s pink IC and PR to be handed out like toilet paper.
45. I want more heavily subsidized birth-delivery, child-care, pediatric health and education care to boost local numbers. If S.Korea can do it, why not us? The practice of replacement diminishing local numbers with foreigner number MUST STOP.
46. Instead of always saying Singapore does not have enough talent, will the government spend more money and effort in education and grooming the young? Every time they say that there is not enough of certain type of people, the government will import these people in masses and hordes.
47. I expect government-affiliated institutions to not indulge themselves with luxuries when other citizens have bread-butter problems:
When NTUC income unilaterally announced major cuts in its bonus for insurance-policy-holders, the MAS allowed this to happen. NTUC income claimed financial woes, but took HUNDREDS of agents to Australia for an exorbitant expense-paid holiday as they made the announcement earlier this year!!! Do they think about the widows and orphans when they dine fine with wine???
At first I could not believe NTUC Income to be capable of this, then I checked on the web and saw the NTUC CEO hugging 2 BIKINI girls and drinking champagne in Australia too.
(1) http://ms-my.facebook.com/photo.php?…1001838&ref=mf
(2) http://ms-my.facebook.com/photo.php?…1001838&ref=mf
48. I expect the MAS to protect citizens financially too:
When thousands of investors lost their life savings in the mini-bond fiasco, where was the government?? Unlike the Hong Kong government which had exerted pressure on its local banks to compensate a minimum sum to its minibond holders, the Singapore authorities chose to stay out of the matter….. MM Lee Kuan Yew even chided Singapore investors for “walking in with their eyes open” and therefore did not deserve a compensation.
49. I have 1 more issue with the state Media Press. HOW can they publish photos of people suspected of crimes when they have not EVEN been convicted?? Imagine the tarnishing to the poor suspect’s reputation if he were innocent! It is not as if the guy can sue ST and get $400,000 in defamation compensation.
50. Anyone can give the 50th reason??????????????? Come on my fellow locals. If I can say so much, you can at least say something! Few thousand people viewing this article and so little comments???
http://forums.hardwarezone.com.sg/archive/index.php/t-2599979.html
Once a person moves into a private property.
They should be given a period of 5 years to sell the HDB flat, because it is for the public.
Mah Bow Tan must come and make this law…so Singaporeans can buy HDB flats.
Finally this fellow made a good law, at least now people do not need to sleep in tents, after selling to money lenders.
Should have made this law, so many years ago.
Would Mr. Mah also confirm the following:
a. That HDB flats are for Singapore citizens only;
b. That HDB flats are for Singapore citizens that have served NS;
c. That HDB flats are for owner occuption only and not for rental;
d. Owners of private property must given up their HDB flat within a reasonable time;
e. PRs cannot buy HDB flats even in the re-sale market unless they take up citizenship within a reasonable time;
f. PRs presently owning must either take up citizenship within a certain time ro give up their HDB flats;
g. PRs and new citizens who have not served NS are not entitled to subsidies given to citizens;
h. PRs presently owning HDB flats can sell their flats but cannot take their profits out of the country until they turn 60 years of age (like the CPF).
you complaint too much, no wonder you guys lare label as ‘lazy’ and ’slow’.
Ya,mr mah,correction.
a HDB FLAT is for the poor citizen not for people like Sinha.
a HDB should be more than 99 years and cheaper especially if your friend at NTUC keep asking singaporeans to be accept S$1,000 jobs.
mr mah,99 years cannot really be considered long-term,leh?
your bungalow,freehold ,right?you also got plenty of savings and pensions,right?
you can also collect rents from your 2nd,3rd,and 4th homes right?
come on,be fair to the poor ,leh.
today’s poor still own hdb they bought some years ago but their kids cannot afford S$1 MILLLION for hdb,lah.So must pass down the flat to the kids and the kids’ kids as all very poor ,not like you got so many big high-class houses here and there.
you see,you ministers keep telling us to be cheaper and cheaper so how to pay Gahmen so high price for HDB?
minista,you so clever,sure know how to calculate leh?
dio-boh?
Reason #50 – We were ignorant before, we are not ignorant now. We have overcome our fear. We Singaporeans are not pussy cat who will not stand up for Singaporean brothers & sisters who were put behind bar for years & decades and were denied judicial process under the disguise of ISA. Whether they were real threat to Singapore or not is for courts to decide. We Singaporeans care for our fellow Singaporean brothers and sisters. We suffer not just because of PAP but also because of our actions as well as our inactions. Time to teach PAP lesson is NOW. Even if few dozen PAP MP’s lose election, Heaven is not going to fall despite MM Lee’s opinions (”Daft” if MBT lose election) or PM Lee’s lack of skills (”Can not handle more than handful oppositions”).
Long term home ownership ?
With a lease that is 99-years, and a practice of HDB to knock a sound and strong HDB flat down in about 40 years – Minister Mah certainly have a wonderful talent at telling tall stories !!!
Is there any “ownership” by any buyer of the HDB flat – when HDB can decide to resettle the occupants any time that HDB wish for en bloc redevelopment – as had happened in Ang Mo Kio, Bukit Merah and Toa Payoh ?
Hello, Minister Mah – when in charge of Communications – had said that Singapore Families will find their telephone bills smaller when telcos begin to charge by the minute.
When Minister Mah was in charge of Ministry of Transport – he also said that when ERP is extensively installed all around the island, road tax will drop correspondingly.
Road tax had jumped almost 200 percent in the early 1980s, over the years – did road tax drop as much as the number of gantries sprouting up even at the entrance to Toa Payoh, and when there is an inner circle ERP within the Central Business District, and Singaporeans are charged ERP even on the way home and getting out of the CBD ?
This is the warped sense of ‘long term ownership’ for a Minister from a Pro Alien Party that has laid claim over the entire Little Red Dot and all the minions living on it.
Isn’t this f#$kface MBT the minister who decided to set up a FOREIGN WORKERS’ Dorm housing over 1000 FOREIGN WORKERS in the middle of the Serangoon Gardens Estate, an RESIDENTIAL estate with old folks, women and young children and a primary girls school within 2 minutes of walking distance, all without public consultation prior to the leaked decision?
Any one who makes that sort of decision should shut his f$%king mouth and just die.
Vote PAP out now!
this mabok fool can go eat shit lah. what’s the pt of saying so much when there are no rules preventing hdb flats’ value from shooting to 1 million one day?
i was most shocked to read that after 5 years you can rent out a new hdb flat.
hdb is public flats and should only be for public housing. it should not allowed to be rented out as a whole flat – unless there is a real exception like the owner has been posted out of the country perhaps.
this is wrong. another stupid short sighted policy. i guess it was allowed because it helps in miw’s goal of pushing up the price of hdb.
I guess PAP ministers are a butch of goons compare to the alternative parties like Workers Party, please go to the link and find out for yourself…….
WP Forum Speech: We can make public housing affordable again,
http://geraldgiam.sg/2010/05/wp-forum-speech-we-can-make-public-housing-affordable-again/
Forever PR:
July 22, 2010 at 2:40 am
you complaint too much, no wonder you guys lare label as ‘lazy’ and ’slow’.
You are very wrong my friend because if we the original born Singaporeans were lazy and slow then Singapore would not be where it is today and for sure you would not be here working. Read and investigate the Singapore story before you coment in future.Our frustration is with the ruling party and not people like you.
HDB flats are unaffordable….. go to link and read…..
http://singaporealternatives.blogspot.com/2010/03/myth-and-truth-of-hdb-ii.html
Mah Bow Tan should ask those living in condos but renting their HDB two questions
a) how many beds you need to sleep on in your dying moments
b) and by extension of that, how many long-term home ownership do you need of public housing asserted by HDB to be MANDATORY AT LAW for OWNER OCCUPATION ONLY?
If you cannot keep up with the enforcement of this public housing law transparently without any exception, please resign immediately. There are plenty in the ever-extending queue waiting for a public housing opportunity.
Forever PR:
July 22, 2010 at 2:40 am
Are you one of those living in a condos but fully renting out your HDB for profit illegal at law. Please answer this question truthfully with your identity.
Great Display of double Standard
Tell the NS defaulter doggie Sinha who is renting out his tax-sponsored HDB flat and living in a condo. Both being protected by true-blue sinkkies.
@Forever PR: July 22, 2010 at 2:40 am,
GO BACK TO YOUR STINK COUNTRY OF ORIGIN LAH, DUN OPEN YOUR BLOODY SMELLY MOUTH HERE. WE SINGAPOREAN DUN NEED YOUR COMMENTS. IF YOU WANT TO COMMENT ON US, TAKE UP CITIZENSHIP ??? Y ???? SCARED HUH???? COS YOU CAN ANYTIME GOES BACK TO YOUR STINKY COUNTRY OF ORIGIN IF SOMETHING HAPPENS HERE ??? OR THE EXCHANGE RATES HERE ARE MUCH HIGHER THAN YOUR COUNTRY ???
WE ARE NOT JUST LAZY & SLOW BUT BETTER THAN YOU CUNNING FOREVER PR WHOM CAME HERE TO TAKE ADVANTAGE OF THE SG SYSTEM.
SERVED OUR NS FIRST BEFORE YOU TALK OR OREN YOUR BIG MOUTH!
FOREVER STINKIE PR(PERMANENT RUBBISH) OF SINGAPORE!!!!!!!!!!!!!!
Minister Mah Bow Tan reminded Singaporeans not to cash in on their HDB flats for funds as they are meant to be roofs over their heads.
Mr Mah, I wish to state the fact that for the majority of Singaporeans who started out poor like you, not everyone ended up a rich man like you. Many of us through our sheer hard work has managed to put our families and our children through their critical years of dependency as well as managed to keep up with the monthly hdb mortgages to retain a roof over our heads.
The time comes, however,when we either fall through a “gap” (such as retrenchment, a major illness, a business disaster, etc..)OR a major financial need comes (such as sponsoring a child to go overseas as a last resort as the child is not given a place for tertiary education of choice, or a clearing a major due to illness, etc.
At the rate of HDB housing inflation which the PAP government insists is good, most of our savings worth several hundreds of thousands are locked up in the HDB assest which is often the one and only asset the common citizenry have.
Now tell me Mr Mah, suppose you have a child who wants to have a chance of a lifetime to pursue the course of his dreams overseas because he cannot get the same course locally, or your spouse or child needs long-term medical care, or your business has failed and you owed S$120,000/= to your partner and debtors – what would you do if you have S$450,000 locked up in a so-called ASSET which you are telling us NOT to touch for our own good.
Im quite fedup with this patronising attitude. We are parents ourselves, grown up adults!! Do not treat us as children.
H.D.B stands for Hollow Dead Brain? Letting leasors ( not owners) of public housing renting out for profits instead of HDB itself renting out for profits? Where is the business sense of investment and logical sense that leasors DON’T NEED two beds to die on when his or her public housing needs for long-term permanent accomodation will immediately expire thereafter? The death don’t need HDB for rental income to pay for his living expenses in the eternal world, right?
LONG-TERM HOME OWNERSHIP DOES NOT EXTENT BEYOND MORTALITY INTO THE GRAVEYARD IF THE LEASOR DIES IN HIS/HER CONDOS OR IS IT?
IT IS STUPIDITY BEYOND MEASUREMENT OF LETTING LEASOR RENTING OUT WHOLE FLAT WHEN THEY ARE LIVING IN CONDOS ALREADY. OR IS IT NOT???? WHOSE SUPER IDIOTIC IDEA IS THIS CRAP OF HYPOCRISY AT LAW OF PUBLIC HOUSING AND IN FACT OF NECESSITY OF LONG-TERM HOUSING, MR. MAH BOW TAN?
CITIZENRY ARE WAITING FOR YOUR ANSWER.
I hope MBT will be kicked out at the GE. Whichever ministry he is in, he will introduce sky-rocket fees in that ministry!
He’s on my Hated List.
we are doomed, by PR’s FT’s and you know who !!!
http://www.cnbc.com/id/38347202
to TR and citizens,
when will u consider an ex-foreigner who takes up singapore citizenship as one of yours?
Last few weeks, this shekhar sinha has been mentioned in every article possible and considered as a foreigner even though he has been a citizen of Singa for the past 17 years…
dont be a sour puss.. he hasnt broken any law.. write about something more constructive than wasting your time beating the same dead snake.
Mah Bow Tan should replace the management of HDB and clean up the act IMMEDIATELY of allowing leasors to rent out the whole apartment when they are living in condos or have other private properties. You can’t stretch the law to breaking it KNOWINGLY for the benefits of a few. Leaving the status quo must mean that HDB is knowingly offending its own statutory law of public housing is REALLY MEANT IN LEGISLATIVE INTENT for purely public housing, not for private profits.
Long term ownership until I die…. come on MBT, the HDB is a lease. I can’t hand it over to my children.
Today MBT lives in a MANSION @ Holland Road with more elsewhere??? what would he know about ordinary HDB folks and their woes or has he forgotten his ROOTS or where he came from ???
which country sell their public houses to foreigner????
Answer:
1. USA
2. China.
3. Malaysia.
4. Singapore.
Final answer?
This MBT must be voted out by hook or by crook. He is the one who is causing so much hardship to the singaporeans, first the erp system and now the hdb profiteering monopolised business. Every voters take note, this bloodsucker has to be rid off no matter which grc he goes to this coming election, sick man! he is causing so much hardship to our childrens where buying a hdb flat is really a life sentence to all citizens, you pay till you die, oh I forgot, we don’t even own them, its only leasing for 99 years, and they take back.
Stop allowing our scarce properties be sold to Foreigners.
These ppl have money that can ston all Singaporean to death.
sometimes, i really wonder of this idiot is listening…. here ppl are toking about high prices and hig cov, there he is toking abt ppl who sell to make money.
how many sell to make money against those who are desperately looking ard to buy an affordable flat?!
Someone please shut the stupid four eye f#%king toad face MBT up.
Every time MBT opens his stupid mouth, I get a headache and something bad and evil happens.
MBT is bad news.
Worse than the old fart.
Why then are the prices going up and up if its for staying and long term housing.What happens if a jobless family cannot pay, cc and other charges, will they still get to stay, free.(this is real as job are going to foreigners on daily basis)
Why is HDB allowing foreigners to buy, if the buyers number is not around, prices will not go up and up, we can believe you, otherwise you are lying…so we have to sell, before bubble burst.
Why did MM said, should the oppo wins in tampines, housing HDB prices will fall, is he lying also, since prices will go up and up and away, anyway because of above buyers, so reason for selling is greater now, afterall you are going to lose tampiness with so much lies.
We are better or you are betterest now.
To Forever PR: July 22, 2010 at 2:40 am
Aren’t you also complaining about the complainers…does that not make you one too.
Please kindly re-screw the nuts and bolts tigher in your head…if you do not have a spanner to do it…you can always borrow or get one from a DIY shop…at the rate your brain fluids is starting to leak out…and reducing the intelligence quota further…this is un-acceptable…and we can’t have that else reduce your “talent” below minimum acceptable levels as defined by the PAP policy makers.
Nuts!
http://www.youtube.com/watch?v=w07-iYjPTdE
To pykeee: July 22, 2010 at 9:53 am
We have to get the facts rite…why Mr. Sinha can rent/sublet out the HDB flat.
Under HDB rules, one is not allowed to do that except under exceptional reasons.
And HDB allow Mr. Sinha to do that….how about many other singaporeans who can’t do that.
It is not about sour puss…it is the gray area which needs to be addressed else criminal acts/injustic can be done and un-seen by the citizenry.
This is about the rule of law and has to be consistent and be seen by the public to be fully trusted and respected…if the law is in-consistent…how can the public/citizenry respect and continue to trust the rule of law in singapore.
Please re-think on this and come to the appropiate conclusions with true collated facts before coming to a final decision.
If you don’t do the right thing…who will…wait until someone using theh “law” to trample over you…by then it is too late for you and your loved ones.
Haiz
singaporeans — dont see HDBs to PRs …oh sorry, those singaporeans who sell HDBs to PRs dont visit this forum…its exclusively for losers n whiners….who want a free ride just bcus they were born in SG…work n earn ur hdb like everyone else..
PR forever,
Why forever, why not go home where you belong, forever,,,!!!!
Your kind are the money loving prostitues, reason you are here…
Talent in prostitution, very old trade !!!
Remember, your parents left us to die when they stick/remain in malaysia, when island was kicked out of federation, thinking singaporeans will die and now your gen are here to kill us, taking all our jobs, depressing wages and buying hdb, wow, biggest thrash/thieves in asia, compared to others.
How dont everyone cash out of our HDB and emigrate?
Isn’t it better? You can be rich in a third world country, u know..M’sia, Indonesia etc
who approved the use of HDB flats as colateral for loans with legalised loan sharks?
The use of hdb flats for such end was not legal until about 10 years when this shorty is still the hdb chief.
How come he cannot own up to his own decision then?
Why don’t someone start a campaign to persuade S’poreans only to sell their HDB flats to s’pore citizen?
We know the answer — the campaign will never get off the ground.
For every young S’porean that wants or rants abt a cheap flat, there is at least one older S’porean who is happy to see that a four room flat going for $500,000.
As Setsuna says, sell flat move on overseas. Or better still, rent flat and move on abroad. Hese in JB can be rented for S$300 a month.
What an irony?
Anonymous calling someone to reveal the identity
anonymous:
July 22, 2010 at 9:08 am
Forever PR:
July 22, 2010 at 2:40 am
Are you one of those living in a condos but fully renting out your HDB for profit illegal at law. Please answer this question truthfully with your identity.
To Keith Ravine: July 22, 2010 at 2:59 pm
…if i may add on, unless HDB also uses the exceptional ruling to allow one who owns a private property to rent out/sublet his “other” HDB property to make money.
And i repeat…how many PRs/also citizens are doing this too with HDB exceptional ruling.
I heard it is good to be greedy…but being a glutton is another thing and unhealthy as hell.
Nuts.
Its simple human nature…the fortunate singapoeans want to reap profits from HDB…while the bottom 10% or so feel frustrated n complain…if they had a chance, they will do the same…sadly, its not a communist state…and honestly, the poor singaporeans had a chance in life…many of them blew it…cant help it…
have some dignity and stop begging from the govt…u make urself look bad…
no lah. annonymous is telling pr forever to answer his question as per his nick lah….
DML, and so you live in JB as A Singaporean or as a Malaysian hwo had the best of both worlds? You wrote: “Hese in JB can be rented for S$300 a month.” “r” a typo error or intended we don’t know, but you’ve let the cat out of the bag. Thanks for tip! But where and what type of flat in JB please? Prices don’t mean anything without product detail leh!
Mr Mah Ah! ONLY HDB flat hah? WHY LEH? So in line UP, from BIGGEST HDB flat to condos and then to bungalows their prices CLIMB UP right? Which one of your at least 1 BUNGaGLOW or the 2 CONdoMiniums will you be selling then when COV helps? CONdos are nearer to HDB-ground level and more directly affected to price GO Go UP right!
And since ONLY bungAGLOW suit you finestEREST to borrow your colleague Lim Sweet Say EQUAL BLABBERING, CONdos be better “investments” impacted BY HDB flat rising prices right? So you’ve TWO instead of only 1 hor! Am I right leh? Please teach us as we dont have control over HDB prices like YOU DO lah! Can’t share your “little secret or not”? Thank you MAH BOw Tan! Heard some ponies run fast the their parents. Is it true lar?
Sorry correction “Heard some ponies run fastER theN their parents.”
HDB has become the profit center for people all over the world. Foreigners come here to cause the price to skyrocket, sell off the HDB flat and enjoy the profit back home. Singaporean will bear the consequence of the high property price while MBT will enjoy his fat salary for doing nothing for the citizen.
PR CPF must be forfeited if they leave the country.
yeah, everyone is in twenties and thirty something, sell flat and live overseas, what job is there and what house is there, robbers all around the corners, why are you fucks FT and PR’s here if not for reason above.
“GO HOME AND STOP TELLING US WHAT TO DO AXXHOLES”
@ birdtalk, I agree! HDB flat prices have rocketed so high, how can it still remain the ‘AFFORDABLE’ choice for the low income and middle income Singaporean? Are we going to live in tiny chalet size flats soon?
As a Singapore citizen, I don’t wish the property market to be overheated so that public housing remains affordable. Hence I agree with the idea that the flat should be for long-term ownership, but something has to be done to correct the current over-heated market first.
HDB flats are no longer affordable! There are so many many people without a flat! What’s going to happen to these people? Who’s going to help them?
a. distant Past:
HDB flat owners cannot put hdb as collateral.
b. less than 10 years ago:
HDB flat owners can put up HDB flat as collateral.
c. Now:
There is a major cock up – homelessness.
B and C period has Mah as housing chief.
And this joker tries to pretend that he has nothing to do with the current shit.
Who signed the law in the first place?
Honestly, it has nothing to do with the homelessness what they are doing.
It is because people are withdrawing massive amounts of monies by selling their flats, while the buyer (FT) put up a little bit (10%) and take out a mortgage.
And govt revenue is drained as a result.
Low revenue cannot help pay high bonues to govt ministers.
Well, actually Shekhar is adhering to what Mr Mah says by not selling the flat but renting it out.
Later, when the price is right, he would sell the private condo and move back to his HDB flat. To Shekhar, indeed his HDB flat is for his long-term ownership.
It is the case of the rich getting richer.
Why is the TS so narrow minded? If one can buy a resale unit and loan from a bank without any Government subsidy, why should that person be disturb? He did not fault any rules.
To the TS, get a life. You are a loser. Everyone of us is a genuine buyer, it is just that our agenda is different. In my opinion, what the Governement needs to do is to re-peg the price of new flat to construction cost (or at least minimum to cover operation cost and OOE). By pegging the price of new flat to resale flat transacted price, it is like chasing one another’s tail. In the good of days, like a computer chip vs a computer OS, each one is trying to outdo/optimise one another. However, in this instance, it is not the end-user that wins.
Lotus @ July 22
Are there many many people without a flat?????
Where can we find them for interviews by TR??
Don’t see what is wrong with renting out an HDB flatthat is owned.
1) Mah is not wrong in reminding Singaporeans that an HDB flat is for long term ownership.
2) Which stupid idiot will not rent out his/her flat for extra income when he/she can afford to do so. (Maybe on the
HDB flats are no longer affordable because there are also many Singaporeans who join in the selling and buying game. There are also many Singapreans who are smiling all the way to the banks due to the profit that they get from selling the flats!
beetroot @ July 22
I agree with you that this Mah fellow at least made a good law this time round. Better be late than never !!
You should write to the ST Forum with your suggestion, “Once a person moves into a private property. They should be given a period of 5 years to sell the HDB flat, because it is for the public.”
May be you can get a prize for the good idea !!
Peg to construction costs? That will be crazy! Are we POOR Singaporeans going to pay more when construction materials sky-rockets??? Buyers of new flats are usually young and just starting out in their careers, how could they afford a flat to live in when it’s pegged to high construction costs? where are they going to live? and the Government still urges us to get married? how is the rising prices going to help this? What and how the Government is doing to resolve this?
@ Tao Sar Bao: how can you be so sure that ‘everyone is a genuine buyer?’
@ Goo: open your eyes! You will see them around!
I have to agree with Tao Sar Bao. Earning money who don’t want?
HDB may have bad memory.
The BTO & DBSS were implemented to avoid over supply of flat cos HDB wanted to clear their backlog. Since now the demand is more than supply, HDB should seriously consider scraping the BTO and DBSS and just go ahead and build more HDB flat.
By reviewing the no of times over-subscribe a new BTO launch, is not going to claim the Citizen !
Wake up HDB !
Aiyoh, Government also cannot be charitable organization mah. If cost of construction goes up, what can government do? What happens become broke like Greece. Greece got EU to help, we all small red dot Singapore count on who to help?
Meng Meng, the next generation young couples will be supported by the parents who cash out on the property investment.
For the 2nd Generation youngers, it pay back time.
Most ppl here commenting about high HDB prices. But why are the prices still going up? Cause ppl can still afford.
Why are you ppl still whining? Cause all you ppl here are losers that are not earning enough. So you ppl can only come here and whine.
Lotus @ Jul 22
Don’t have leh…don’t have leh…
Are u talking about homeless ghosts?
2 Lotus, then what is your definition of Genuine Buyer? If one is a SGP, he is entitled to his entitlement.
@Beer Belly: yah loh if the prices goes down how to earn money!!!!!!
Paulinesee, the new flats are marked at current market rate with a small discount. With the current new HDB flat selling price, I think HDB can mark the staff pay to banker’s pay very soon already.
Angry Angel (or should i address you as Blur Angel?), current older generation are not cashing out on the property investment. You are only refering to the rich people in Singapore! The young generation has to take on a very very very long term loan and the CPF minimum sum keeps rising. How to get the money for all these???!!! We are all drowning!
Thought it is this fu*ker who said HDB are investment assets.
Long term homeownership my ass! He must be talking about foreigner PRs.
As soon as I retire, I am going to sell my flat to whatever sucker at the highest price possible and move to Malaysia. At the way PAP is running things. SG will collapse in less than 10 years.
I know many people are complaining because Singapore local siblings are not allows to buy flats while PR siblings are allowed to.
PLS UNDERSTAND. PAP has good intentions. I feel that PAP only wants to prevent local siblings from INCEST.
You Singaporeans should THANK PAP. NOT hound them like dogs (quoting Mr Sinha).
I love PAP. I am poor. have no job and I cannot afford a flat. PAP understand me.
SO PAP allow flat become super expensive, make many other people cannot have home too. Now I don’t have to be jealous.
I feel so much happier now.
THANKS PAP!! V^_^V
Who is Sinha Shekhar? How do we know he is Young PAP? I cannot tell from the screen capture of the REACH website.
I have heard that some low income families are renting out the flat to generate income. This is helping their quality of life. This cannot be wrong, right?
@ paulinesee:
July 22, 2010 at 8:42 pm
These are the biggest fool. They make “profit” on the first one, buy higher on the next “upgrade” and when market turned down in the next cycle, they lost their underwear and their pubic hair as well.
The maths is like this. Buy $500K, sold $700K (profit is $200K at 40% gain) buy the next upgrade to $1 million. Market drop the same 40%, lost $400K and wondering why $400K lost cannot offset their happy $200K profit earlier.
From the paper loss of market value (after $400K drop) the property must now clim back 66% before it reaches breakeven point at $1 million – VERY MUCH HARDER TO CLIMB 66% AFTER DROPPING 40%. Only silly people happy with selling for “profit” on their first property purchase. It is all illusion of “optical” wealth.
The fall is harder than the climb just like it is easier to climb the mountain than to come down from the top.
@ gong gong:
July 22, 2010 at 9:14 pm
please look at my explanation above. It is false illusion of wealth.
The reality here is that we are land scarce and land banks are either in the govt’s hands or that of people like a ng teng fong,a citidev or govt’s own capitaland.
these guys will not like to lose money and they will surely manipulate the property market to their great advantage,like it or not.
HDB has laready gone up to around 400k for BTO @ Ponggol and HDB promary mkt will dictate the base price for all other housing types.
when i started work,i could even afford to buy a condo at 250,000/-,i merely bought my first hdb at 90k.
but now,secondary mkt hdb are selling for close to a million.
how can the poor afford a roof over their head except borrow one along five foot way ?
too many singaporeans have been impoverished for the sake of stupid policies like FT and who cares?
not the govt,not the rich and powerful of this small little ‘KINGDOM’.
When did we see things here go up in prices and come down?
seldom.
that’s why the miws,cash rich as they obviously are,snap up properties too.
property prices will head up in this tiny country and the drops will only be moinor corrections.
this is a hard fact we have to swallow especially the poor.
living in the streets may not be all that remote for some among us in the future.
the poor will only get poorer with our kind of govt.
for what singapore is now is never without the foundational brains of local born true singaporeans.
If foreigners from CHINA AND INDIA are willing to work for sandwiches def which native born are not willing to, then u ft are the winners.
Mr Horse, pls go jump into the “act of god” flooded canal at Bukit Timah road. Cannot be found after 10 minutes?Good riddance, Still alive after 10 minutes?Go jump again.
Good one “from the street:”, i read all 50 of your reasons not to vote PAP. I am impressed by the way you articulate your reasons. I do concur with the 50 reasons and btw thanks for reminding me about some of the issues that i have forgotten. I would appreciate if the administrator were to post this 50 reasons after the announcement of the elections dates because if any election goodies are announced i might just forget about the 50 reasons.
MBT’s new retroactive policy of forking out 50% of cash proceeds from previous home sale for next home had created more homeless Singaporeans.
What about divorcees and those entangled in parent – child owned HDB flat?
MBT is the claasic symbol of PAP: never ask PAP for help, their solution will have you bleed to death faster.
Which country in the world allows foreigners to buy public housing? Most countries in the world even control private housing purchases by foreigners.
Singapore has been sold out by PAP. They have made us the outcaste in our own country. May the heavens break open and our forefathers awake from their graves to vindicate us of our suffering and persecution.
Have you seen 20 over A*Star scholarship pages (for PhD and post PhD)? 1 in 3 are PRC nationals and I haven’t even (or able to) count the Indian Nationals!
NS & LOW PAY FOR SINGAPOREANS; JOBS & SCHOLARSHIPS FOR FOREIGNERS!
To PAP Supporter: July 22, 2010 at 9:33 pm
You got to be kidding me…can you please tighten the screws of your brain to your skull…your thinking is awry like a nut-job.
Are you implying that PR Siblings are doing INCEST as PAP is encouraging them to get a HDB flat for un-natural purposes?
Are you ok in the head!
If you continue to think this way you are really NUTS!!!
Oh one more thing or two….
This is for you PAP Supporter…cos of your “love” for the PAP…
http://www.youtube.com/watch?v=g1u_619dZ2s
…and the below is from me…to let you know you can be all that you can be…and able to think independently and critically instead of the PAP created almost airless shoe box you are conditioned or “taught” to lived in!!…
http://www.youtube.com/watch?v=eVTXPUF4Oz4
…and finally below for those like me who are almost numbed by PAP not-idiot-proof policies and “thank you very much” to the x 82 PAP department store dummies in parliament who basically rubber stamped these inane policies…
http://www.youtube.com/watch?v=GfrIipujxfQ&feature=related
Good day to you.
Cant win them join them.
sinha really smart. let say if he bought a hdb 3rm for 300k,collect rental of $1500, interest yeild is 6%!
the yeild for renting hdb flat now is higher then private property!
haha if hdb allow ppl like sinha , we can too right?
we help our old parent buy one under their name, then, rent out.
we help our old in-laws buy one under their name, then, rent out.
haha we can be million liao
“20. I do not want to read the paper when it is pro-PAP and there is major censorship and selective publishing and late publishing for what cannot be hidden “- from the street
I very agree with him on #20, example in 22july st classified,
why they still reflect 1st quarter hdb resale price and not 2nd quarter hdb resale price?
HDB resale prices hit another high, COV jumps to S$30,000
Data released today by the Housing and Development Board, HDB, shows that its resale price index in the second quarter this year rose 4.1 per cent over the previous quarter.
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1071080/1/.html
the best is for HDB to get an undercover agent to check out on the actual COV these sellers are asking, 30K is still not the maximum, I have heard of people asking for 60K,70K,80K, 90K, for 3 rooms only, and the agents representing them are of SHITS AGENTS, LOUSY AND BRAINLESS ATTITUTE !!, just don’t know how they ever got their license in the first place !!
How can anyone trust a short horse with narrow eyes and doesn’t know that he has a looong face??
observer: July 22, 2010 at 7:39 am and All Souls of Singapore.
The 5 year restriction for new hdb flat renting out is for old people to get income and increase supply to FTs! So, it provides some solution for TWO significant PAP screw-ups of inadequate CPF for retirement and accommodations for influx of foreigners!!!
And it is all about GDP and “cheaper. better, faster, betterer , betterest” for govt tax coffers! Please go to and see crowded and self unsustainable PAP has made Singapore to be at:
http://www.optimumpopulation.org/overpopulationindex.pdf
…And this horse likes to wear shorts!!
( a horse doesn’t know it has a long face means it doesn’ know its short comings.a horse who wears short, exposes all its 4 legs, thus exposes all its short comings!!)
HDB has lost it objective of building affordable flat for Singaporean. It has instead become a revenue generator for the ruling party. PAP uses large number of immigrants to create excessive demand for HDB flat and at the same time create shortage of supply by constraining the number of new flat. The number of new flat built was just a fraction number of immigrants that were brought in by PAP government. This creates an artificial high resale flat price which the government claims that it has no control. But do you believe it ? As the new flat price is pegged against resale flat price, HDB generates lot of revenue for the government. The high property price also implies higher tax collected. In addition, high resale price pushes the private flat to a very high level and the government can sell the land to developer at a very high price. The tax collected has also multiplied through stamp duty collected. The PAP government is not 1% sincere to control the property price to help the citizen!
Oh yes, Mr Mah must be MBT (Must Be Tortured)!