All flats can Lease-buyback: Why?

Comments by Oogle

The Government does not want homeowners to profit from their HDB flats so they create no incentive and no value for your flats with remaining 60 years of lease by not granting you to use your CPF to purchase and do not allow you for a housing loan. And what do they do to profit themselves? They give you a Lease-buyback scheme which pays you peanuts for your high paying HDB flats so they can profit from their schemes all over again. Are they really sincere to help Singaporeans own their homes at an affordable price? No. Do not use any grants to buy your HDB flat, you need to pay back every cent you take in resale levies and future penalties like buying another HDB flat or renting from HDB. What about HDB loans? You need to repay a hidden tax from resale levies and pay back the interest you borrow from your own CPF savings which is even higher if you take a conmercial loan outside from banks and other institutions. What logic is this? Is then HDB a scam?

Author: Gilbert Tan TS

IT expert with more than 20 years experience in Apple, Andriod and Windows PC. Interests include hardware and software, Internet and multimedia. An experienced Real Estate agent, Insurance agent, and a Futures trader.

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