HDB “Asset Enhancement” is a lie, it is just 2% yearly inflation for your homes


Comments by Oogle

When you buy a HDB flat, you are actually buying a 99 year lease from HDB. There is no strata title to your HDB flat unlike private and the land that your HDB flat sits on belong to the government, unlike private which has a redevelopment potential if a developer buys over your private flat and you will get a windfall. Everything about your HDB flat is controlled by HDB, getting a tenant for rental for your whole flat need to be approved by HDB, even renting your rooms out the occupier needs to be approved by HDB. There is a minimum occupation of 5 years before you can sell your BTO flat and what you derived is actually the market demand of property 5 years later while offsetting a yearly 2% inflation, so it seems like “Asset Enhancement” on the windfall you get. No, what market price you get is based on the property market and the dynamics of demand and supply. But after that the balance of lease sets in and your HDB flat will depreciate in value based on the balance of years of lease left.

Our Wish Lists for Opposition Coalition party’s manifesto

“Here’s my latest wish list for coalition party’s manifesto-
  1. Disband GIC and Temasek Holdings and eradicate crony capitalism.
  2. Housing for the homeless.
  3. CEO and other posts in public organisations to go through proper channel of recruiting, evaluating and hiring not via ‘global search’ or army barracks. 
  4. Disband NTUC, just rename it to Fairprice Supermarket. Separate the supermarket, insurance and casket co-ops. Trade union should be simply speaking for the workers and no minister should be its Secretary General. Restructure the organisation and fire the CEO and all PAP partisans in the union.
  5. Fire Auditor General and Attorney General.
  6. All CEO of public organisations to change salary structure.
  7. More useable space for void decks to cater for old folks’ hangout. They are the poor thing lot hanging around in coffee shops. Install an air-condition multipurpose hall for them to congregate, play majong and chit chat. 
  8. Abolish PSLE. 11-12 years old are kids’ formative years. They are battling with puberty and coping with a major exam. Academic pursuit is not the only thing to live a successful life. Focus on character building. Streaming should come at secondary 2. Restructure to elementary (7 to 10 years old), intermediate (11 to 14 years), high school (15 to 16 years).
  9. Revise fiscal policy.
  10. CPF to be reviewed, bring back pension scheme or a combi. Untie CPF linkage to sovereign wealth funds. Taxpayers’ fund should be state’s funds. No more meddling with our CPF money. 
  11. Get rid of cronies and partisans in People’s Association, taxpayers pay billions to upkeep community centres and chairman should not come under current PM.
  12. Abolish Presidency, PM is good enough. We don’t need ceremonial post who does not contribute much to the country. But have a committee from all walks of profession to form a committee to check on state coffer. 
  13. Reform judiciary system. Need to have a panel of jury.
  14. Make HDB more affordable. Review 99 years leasehold. HDB apartments that are older than 50 years to be sold to Permanent Residents or open market to private landed property owners and allow children or grandchildren who are currently staying in landed property to own inheritance from HDB apartments owners rather than to sell the apartment just because the criterion dictates that they can’t inherit HDB apartments cos they are staying in landed property. In this way grandchildren or children can have an option to continue staying in the HDB apartments. The law should works both ways. 
  15. Abolish GRC, bring back meritocracy to all constituency, we don’t want freshman freeloaders to be ministers. SMC promotes meritocracy and no hitch riding on GRC please. 
  16. Ban ISA, and let dissidents come back home. Give them free housing cos they made great sacrifices to speak for the people.
  17. Allow free speech and demonstrations. 
  18. Parliamentary debates to be broadcast live and those MPs who don’t attend have to give letter of excuse and apology. If absent more than 3 times consecutively, his MP post will be relinquished. 
  19. Ban Straits Times and allow free speech. We should have more than one local media. 
  20. All PR whose child has not served NS will not be eligible for PR Status. Unless the son served NS. With immediate effect…and they will be served $10,000 for every years that the son did not served NS
  21. Review labour laws. Singapore citizens who are currently employed and below 55 shall be holding permanent jobs if they are contract staff. MOM shall form a committee to assist in this area. Currently many MNC companies are abusing local citizens as contract staff and PR as permanent staff. 
  22. NS conscription to limit to one year. Some boys have to wait another 9 months cos university matriculation starts in August for local university and some in November and they wasted another year to be enrolled to the university of their choice.
  23. No voting rights for newly minted citizens, unless they have stayed for 5 years or more.”