Congratulations to Joseph Schooling for his successful defense of the Asians Games 100m Butterfly title! Also won his 3rd medal in the men's 100mx4 freestyle relay coming in at 3rd place!
"SINGAPORE’S HOMEOWNERS HAVE 99 PROBLEMS (AND THE LEASE IS NO 1)
BY KOK XING HUI 21 AUG 2018 of South China Morning Post
As the oldest public housing flats near the halfway mark of their 99-year leases, owners grapple with the fear that what once seemed an astute investment now seems doomed to depreciation"
She said China is drafting a bill to renew their 70yrs lease UNCONDITIONALLY upon expiry! Too good to be true or the government has no other choices?
In Sgp, the gov is adamant that it will NOT extend all public housing 99yrs lease.
This effectively means the 99yrs properties WILL depreciate in value (price it can b sold or sell-n-lease back, etc.) will ultimately become 0 if held to maturity!!
The HIP2 n VERS, at best can only keep some value while it lasts. The properties will depreciate to 0 if held to maturity. Let's b very clear n open abt this.
If VERS happened, it will just be the remaining value of the remaining 30 yrs logically unless the gov is prepared to pay more or a lot more!!
So, it puzzled me WHY the gov STILL wants to keep the narratives that it is an asset that can hold or even appreciate in value!!??
Yes it is counter to the narratives that Sgp voters had been told all these while. Yet, since there is a vision to ensure lands r available for future Sgp citizens, which i presumed will come fr massive immigration since Sgp's fertility rate of the locally born n bred is very low, to live in public housing, it is BEST to kill this mindset that HDB flat is an appreciating asset for u to hold to maturity!
Let's promote the idea that it us a property where u pay for 20-30 yrs of mortgages n live for 99yrs without the need to worry abt moving house frequently becoz the landlords had increased rent beyond your affordability!!
If u really want to profit fr it, u must sell it when "market price" is higher than your cost + interest!!
Or u can rent out some rooms if there r tenants as presumably if 50% of HDB owners r renting out rooms, we need to hv mega potential tenants to keep rental income attractive.
The maths don't add up n it is better to be TRUTHFUL - HDB flats r for giving the owners a roof over his/her family for maybe 2 generations! No more than that!!
Politically hard to sell?
"SINGAPORE’S HOMEOWNERS HAVE 99 PROBLEMS (AND THE LEASE IS NO 1)
BY KOK XING HUI 21 AUG 2018 of South China Morning Post
As the oldest public housing flats near the halfway mark of their 99-year leases, owners grapple with the fear that what once seemed an astute investment now seems doomed to depreciation"
She said China is drafting a bill to renew their 70yrs lease UNCONDITIONALLY upon expiry! Too good to be true or the government has no other choices?
In Sgp, the gov is adamant that it will NOT extend all public housing 99yrs lease.
This effectively means the 99yrs properties WILL depreciate in value (price it can b sold or sell-n-lease back, etc.) will ultimately become 0 if held to maturity!!
The HIP2 n VERS, at best can only keep some value while it lasts. The properties will depreciate to 0 if held to maturity. Let's b very clear n open abt this.
If VERS happened, it will just be the remaining value of the remaining 30 yrs logically unless the gov is prepared to pay more or a lot more!!
So, it puzzled me WHY the gov STILL wants to keep the narratives that it is an asset that can hold or even appreciate in value!!??
Yes it is counter to the narratives that Sgp voters had been told all these while. Yet, since there is a vision to ensure lands r available for future Sgp citizens, which i presumed will come fr massive immigration since Sgp's fertility rate of the locally born n bred is very low, to live in public housing, it is BEST to kill this mindset that HDB flat is an appreciating asset for u to hold to maturity!
Let's promote the idea that it us a property where u pay for 20-30 yrs of mortgages n live for 99yrs without the need to worry abt moving house frequently becoz the landlords had increased rent beyond your affordability!!
If u really want to profit fr it, u must sell it when "market price" is higher than your cost + interest!!
Or u can rent out some rooms if there r tenants as presumably if 50% of HDB owners r renting out rooms, we need to hv mega potential tenants to keep rental income attractive.
The maths don't add up n it is better to be TRUTHFUL - HDB flats r for giving the owners a roof over his/her family for maybe 2 generations! No more than that!!
Politically hard to sell?
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