HDB ‘renting’: “Factually & legally wrong”?

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Don’t you think the HDB wayang should stop?

I refer to the article “Factually and legally wrong’ to say HDB flat buyers not owners but renting: Lawrence Wong” (Channel NewsAsia, Sep 4).

It states that “The claims that HDB flat buyers do not own their flats and are renting them is “factually and legally wrong”, said Minister for National Development Lawrence Wong. 

There is also no basis to such a claim, he said at the HDB’s Peak Forum for building professionals on Tuesday (Sep 4).

Mr Wong added that all buyers of leasehold properties, private or public, enjoy ownership rights over their properties during the period of lease.

They can also sell their properties and benefit from any upside, or rent it out if they choose to, he said, adding that it’s “important to set the record straight”.

“Since the beginning of the Government land sales programme in 1967, all sites for private residential land have been sold on leases not more than 99 years.

“We have limited space and we need to recycle land to create housing for future generations,” Mr Wong said.”

My friends said “aiyah, this one really talking cock lah!

Same person last year say 99-year lease end HDB become 0 value hor!

HDB same like private property meh!

Can enbloc make money or not?

Can extend lease like so many private property projects meh?

Can after fully paid already – mortgage to bank get loan meh?

Can rent out the whole flat like private one, without all the HDB conditions meh?

Even keep certain type of dogs also cannot hor!

Aiyah, one moment say have enough land for 6.9 and then 10 million people – now say not enough land hor!

Never say the obvious or answer the obvious question all sinkies asking – why keep saying buy buy asset enhancement for so long har!”

Leong Sze Hian

 

About the Author

Leong
Leong Sze Hian has served as president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), invited to speak more than 200 times in over 30 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of Indonesia and Brunei. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.