Errant buyers of resale flats may face jail term
September 4th, 2010 | 
Author: Errant buyers of HDB resale flats who do not declare about properties they own overseas may face jail term, warns HDB. Making a false declaration could bring fines of up to $5,000 or up to six months in jail.
Under the new regulations unveiled by HDB lately, buyers of resale flats will have to sell of any private properties they own here in Singapore or overseas.
“To ensure parity in the treatment of all HDB flat buyers, we subject buyers of non-subsidised flats to the same rule with effect from Aug 30 this year. This helps to reinforce the long-term owner-occupation objective of HDB flats. All flat owners are allowed to buy a private property after their MOP,” a HDB spokesperson was quoted as saying in Straits Times.
The new rules came about following a massive outcry among Singaporeans at YPAP leader and new citizen from India Sinha Shekhar who boasted on Facebook that he owns both a condominium and HDB flat which he is subletting for an income.
However, there are some concerns among Singaporeans that they will be penalized at the expense of the PRs and new citizens who own properties back in their homelands since it is almost impossible for the authorities to find out, especially when they are likely to have extended families.
Firstly, they may own properties in some obscure parts of vast countries like China and India which is unheard of even to HDB officials and secondly, they can simply transfer the ownership of their properties to their parents or siblings, thereby enabling them to continue to enjoy the “best of both worlds” in Singapore.
Instead of causing inconveniences to genuine Singapore buyers and to itself, HDB should impose the new regulations only on PRs and new citizens which make it easier for it to enforce them as well.
Debunking official myths of HDB flats series:
1 Myth 1: Singaporeans are “owners” of their HDB flats
2. Myth 2: HDB flats are “affordable” to most Singaporeans
3. Myth 3: Rising prices of HDB flats “generate” wealth for Singaporeans
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Please join our Facebook discussion on this article here and invite your friends to do so as well to raise awareness among fellow Singaporeans.
Posted in Editorial
ALL HDB FLAT OWNERS MUST STAY IN THEIR HDB FLAT.
THIS RULE MUST BE APPLIED TO ALL HDB FLAT OWNER.
STAY IN YOUR HDB FLAT OR SELL IT.
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ALL HDB FLAT OWNERS MUST STAY IN THEIR HDB FLAT.
STAY IN HDB FLAT OR SELL IT.
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What is controllable and uncontrollable?
What is: hold too tight the bird will die; hold too loose the bird will fly?
What is moderation in policy and administration?
All things stem from the Unseen. Ponder.
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Allowing speculation in HDB public housing has made a mockery of the original Mission of the HDB, isn’t it?
Who approved the dual ownership policy?
This is a major and costly U-turn, isn’t it?
What other major U-turns to be made, and when?
Who dare to ask MM in Parliament?
We wait.
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@ ALL HDB FLAT OWNERS MUST STAY IN THEIR HDB FLAT:
September 4, 2010 at 7:01 pm
ABSOLUTELY. NO EXCEPTION FOR EXISTING VIOLATORS OF THE LAW. YOU STAY IN HDB OR YOU SELL OUT.
THE LAW DOES NOT PROVIDE EXEMPTION FOR PINOPI (Persons In Need Of Protected Interests). That is why non-PINOPI have been harshly punished by HDB in the past.
Just because some PINOPI who bought it 5 years ago or longer is NOT A LAWFUL JUSTIFICATION TO ALLOW THEM to keep his/her HDB flat, rent it for profits because the legislative intent is for owner-occupation only – NOT FOR SPECULATION.
The law must NOT reward speculators who violated the law EARLIER and BE REWARDED FOR VIOLATING THE LAW BECAUSE HE OR SHE IS A PINOPI.
No corrupt law application is NOT “ultra vires”, ASK ANY LAWYER. To allow exceptions is to perpetrate and encourage inequities and injustice to ALL EXISTING HDB OWNERS AND NEW BUYERS.
The Housing & Development Act DID NOT PROVIDE FOR ILLEGALITY OF DUAL OWNERSHIP BY PINOPI because it could NOT have envisage such a corrupt practice and such a subversive law may NOT have passed Parliamentary assent.
since it is unlawful for new buyers to enjoy dual ownership in infringement of the statutory law, it must by definition, equally unlawful for any PINOPI to be owning and speculating in HDB while living in private property elsewhere.
ANYONE, INCLUDING HDB, DISAGREEING??
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HDB should investigate and prosecute those HDB owners who went to purchase private properties, within the last 5 years. I am sure alot of scums will be netted, including Pappies themselves..
Instead of 70% on their bank loan for their 2nd and subsequent purchase, it should be 100% cash. since these purchases are all for investment purposes. If they have spare cash to invest, make them pay in cash.
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With our own not producing enough babies and soon, more will depart their nests, who is left to buy our resale flats?
If the next generation are not keen on marrying or do not form the critical mass to soak up the glut of resale properties, we may have to sell to foreigners then?
If so, lets distinquish PR owned hdb and citizen owned hdb. for a start, taxation on rental income should be much higher for PR owned hdb. we may also implement capital gain tax on them too. hopefully, these opportunists will not exploit the value of hdb homes which rightfully should belong to citizens and citizens to enjoy only.
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This is bullshit from PAP. How are they supposed to check for foreigners having overseas properties? Even if they managed to catch these foreigners, at most fine only. Do you think foreigners will be afraid of these rules, they come from places where rules are meant to be broken. These rules are only good for controlling law abiding Singaporeans.
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This is what PAP gov.promise to all Singaporean.Everyone got house to live(人人有其屋）！Even though you don’t have a HDB flat to live,they will provide a place for you to stay at Changi House!!
Changi you know? Free meal too………
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How are they planning to enforce this rule? Whoever who came up with this policy is just causing trouble for Singaporeans.
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PR can offer higher COV, They buy the house,then they squueze into one room and rent out the other two rooms.
$30,000 COV
$1200 for two rooms rental
can recover cost in 2 years $1200 x 25months= $30000
After two three years property went up 20% to 30%.
Sell and take all the profit and balek kampung.
Another house supposed to go to a Singaporean gone. The next Pr will realise the game and bid at a higher COV and the cycle continues.
Please ban the PRs from buying or subletting the HDB flats/rooms.
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What has it got to do with HDB that resale flat owner had properties overseas & must declare, failing to do so will face term or kenna fine. Where is the link. What does HDB trying to fish out.
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Well, indeed LHL has make a fool of himself again.
He should “put and make” things right once and for all.
He should “turnbackthe clock to at least from 2006″, where it all probably went wrong.
All PRs “starting” 2006 can hve only one choice. A HDB or a Pte. Period !
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Their policy allows all these dual ownerships in the first place, now their changed policy is hitting you back and in the end, the locals are still being penalized. See the whole picture now? The question is how would they know how many FT turned new citizens who owns 2 or 3 properties outside singapore? How? see the difference? this new policy is targetted to hit the locals not the new citizens at all.
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Just 2 points that I would like to make
1. Foreign private properties might cost much lesser than our “subsidized” HDB flats. The stigma of one being financially capable since he/she owns a foreign private property and thus he/she shouldn’t be buying a “subsidized” HDB flats might not be true.
2. Not every country has public housing and thus all forms of housing are private in nature.
By the way, I’m a born and breed Singaporean.
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2 or more homes for foreigners coz PAPies know fuck ass how to check on their overseas properties.
Fines, jailtime and confiscation of your HDB for Singaporeans, coz 66.6% dumbass idiots keep on voting for PAPies.
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foreign property = all sorts of foreign property?
attap house count?
slum in india count?
straw hut in africa count?
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fix the problem, not symptoms!!!
What is the root problem
too many people, too little flats
solutions
1. control people coming in – ah loong not allow
2. build more flats – should have done so, but horse precious mountain caught sleeping, now wake up already going to build more to support ah loong
Anyway the problem is not solely FT, PRs or new citizens. The problem is horse precious mountain is not prepared to support ah loong’s vision.
So ah loong, easiest solution to get back voters is simply to push all the blame to horse precious mountain, let him carry the black wok.
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In the first place, foreigners and PR shouldn’t be entitled to buy a HDB flat. If the government really thinks that Singaporeans come first, then only Singaporeans should be entitled to HDB flat.
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The more i read about the new housing policies, the more i feel pissed off…
Earn so much money for what?! All no brains one!! The taxi uncle i talk to today also can think more logical! If I can, i propose the taxi uncle as Minister la, confirm Cheaperst Betterest and Fasterst!
MBT and the Policiy makers, pls la like how PCK say, Use your brain use your brain!!!!!!!
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only if you are Post-August-30
the pre-August-30 just laugh their way to the banks
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COV disappear
HDB prices collapse
As more changes are in the pipeline for property market….in next 6 months.
GET OUT or get “STUCK” for next 10 years.
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Similarly frm 1997 – 2003, property prices across collapsed by 30%-40%.
E.g. Private landed property bought @ $2.2 million then in 1997 became $1.3 million valuation in 2003.
This time, the govt caught many big whales in their net?
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HDB Unleashed a massive casanova.
Painfully hurting the property sector.
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wtf:
September 4, 2010 at 11:53 pm
foreign property = all sorts of foreign property?
attap house count?
slum in india count?
straw hut in africa count?
———————————————————
hmmmm…..
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PAP is coming up with throwing old smoke screen. It doesn’t even require a PSLE to figure out that there is no way HDB can find out if foreigners own properties outside Singapore. It is also incredible to trace individuals who after the new ruling transfer their properties to names under their kins.
Is that the best MBT can come up with?
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they should have targetted the new citizen.
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A 1-size fits all change of policy in HDB rules is destined to create even more problems. This change is too hasty and not well-thought-out.
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What does the purchase of a HDB flat has anything to do with my property overseas? I can’t possibly move my private property to SIN. I need a place to live in SIN with my family. One more reason for not returning to SIN.
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HDB only Singapore Citizen Can Buy.
Foreigners, PR, FT either buy private or rent HDB.
Isn’t this easier to enforce?
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HDB = Human Pigeon Holes Built at Low Cost But Sold at LEE FAMILY to You at Inflated Prices for Massive Profit for Lee Dynasty.
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Don’t need to talk about PRs from far flung places.
Everyone knows many malaysian PRs who owns HDB flat owns property back in malaysia. Some even stay in JB commuting to Singapore daily. I doubt the authorities can even put a stop to that.
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Does any of the MPs stay in HDB flat ?
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from the reports.
1. Increased supply of flats
2. Increased immigrants
3. Increased fees for selling and buying
4. Increased restrictive covenants for HDB
5. Increased restrictive covenants for 2nd HDB
So from 1 and 2. Increased supply of flats MIGHT reduce the prices, but with increased population, it more or less cancels it out.
from 3. Increased fees would contribute to higher prices. This might not even deter people from buying or selling as there is no other substitute for public housing.
from 4 and 5, increased regulations usually mean more administration and monitoring. These would increase costs and usually would be transferred over to the consumer.
In the best case scenario, a flat can accommodate 8 persons. 80,000 new immigrants would translate to 10,000 flats. 22,000 flats will be made available through BTO.
How can these measures be sufficient to “cool” down the property market?
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Am i suppose to sell the properties overseas? totally confused now! anyway HDB has no right to tell me how I should invest!
I understand if they want to stop me from buying pvt property while holding a HDB flat but how dare they tell me declare overseas properties! I dont even mind paying tax on it! How dare they tell me to sell!
Whats the point of earning if u cant invest and multiply????
At this rate I rather migrate!
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All along HDB rule does not allow those who own private properties IN OR OUTSIDE Spore to buy DIRECT-PURCHASE flats from HDB. It is a well known fact that HDB can only catch those owning local private properties but not those who owns OVERSEAS private properties. So, dont be surprised if HDB has only records of action against local private properties cases but for overseas private properties, they would have none or almost zero cases to show for it in all these years of implementation of this restriction.
So what good is this latest rule in preventing foreigners who owns properties in their home country from buying HDB resale flats? Isnt this HDB warning that “errant buyers of HDB resale flats who do not declare about properties they own overseas may face jail term, warns HDB. Making a false declaration could bring fines of up to $5,000 or up to six months in jail” is all but empty threat to the foreigners? Moreover, in today’s context of massive influx of foreigners, this property restriction rule can only become inequitable and unfair to Sporeans as it will be mostly them who will b caught by the restriction while the foreigners get away scot-free.
Really sad to see another sick eg of Govt causing a problem situation and then trying to fix the problem by ways that are always worse off for Sporeans than foreigners. Well, with the PM declaring he is still opening the door BIG BIG to more foreign influx, Sporeans ought to know that while this Govt will have no qualms hurting Sporeans , they will never do the same to their new pets from foreign soil.
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to below author, u really no guts but to copy my nick, scare police come look for u?
clueless:
September 4, 2010 at 11:44 pm
Just 2 points that I would like to make
1. Foreign private properties might cost much lesser than our “subsidized” HDB flats. The stigma of one being financially capable since he/she owns a foreign private property and thus he/she shouldn’t be buying a “subsidized” HDB flats might not be true.
2. Not every country has public housing and thus all forms of housing are private in nature.
By the way, I’m a born and breed Singaporean.
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This bloody MBT causes so many problems. Even before he was a transport minister. Earn so much salary from taxpayer and produced nothing but a mess of it. I wonder are you putting your heart and soul on the singaporean that really in deep help? If not please get lost you are making singaporean really piss off with you. Get real please or else step down and let someone with better brain than you to run. Tired of the goverment nothing but clowns in the circus of parliament. Shame on the pap after voting them for so many elections.
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@DAFT VADER
yes, how in the world are they going to enforce the “overseas property” rule? I am to believe that they enphasize the rule this time round, so tell the FTs to “SHUT THE F*** UP. Stop showing off to the locals, less they start complaining again….If you don’t say anything, no one would know. get it???”
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Since went for those who own property or invest oversea become a crime?
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wat?:
September 5, 2010 at 11:30 am
Yes that is one reason. It also serves to make this half baked measure outwardly look good and the Govt seen as serious in wanting to tackle the problem, lest they be blamed when the problem continue to escalate or persist which it surely will.
The Govt jolly well knows the problem will persist given that their plan is to bring on many more foreigners on board and this measure is more to help the foreigners to b able to buy the available resale flats by preventing certain category of Sporeans from buying them.
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I know one jobless PR from Malaysia who rented out the whole flat while he stays in Johor only to come back monthly to collect rental.
Why PAP let this kind of parasite take advantage of the system who doesn’t contribute anything at all.
PAP think they are centre of universe all other countries spin around them and all PR will report to them if they owned any property in their homeland. How complacent can this government be? Highest paid some more.
REFORM will only come when PAP is kick out.
Any Opposition can do a better job.
Come on Singaporeans grows some balls VOTE PAP OUT to save yourself and your children. You are being systematically replaced. Don’t be the dinosaur whose tail are being cut and turn around when the pain is felt only to find out the tail is GONE.
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@Terence: September 4, 2010 at 9:15 pm
VERY EASY LAH,
PRs MUST GET A LETTER FROM THEIR COUNRY’S EQUIVALENT OF OUR MND, STATING THAT DON’T OWN HOUSING PROPERTY IN THEIR HOME LAND.
NO LETTER, NO RE-SALE HDB FLAT.
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@ALL HDB FLAT OWNERS MUST STAY IN THEIR HDB FLAT: September 4, 2010 at 7:01 pm
AGREE 101-percent.
ALL HDB FLAT OWNERS MUST STAY IN HDB FLAT.
RULE MUST APPLY TO ALL HDB FLAT OWNERS.
HDB FLAT IS PUBLIC HOUSING FOR STAYING IN N NOT FOR SPERCULATION OR MAKING MONEY BY RENTING OUT WHILE ONE STAYS IN A PRIVATE PROPERTY.
NO EXCEPTIONS.
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flats for SINGAPOREANS,that’s it!! back in the early 90’s,we have strict immigration policy,whereby,mostly immigrants from Hong Kong are those affluent category,1mil Singapore money in assets or cash to settle here,they created jobs for local here,and they truly contributed to the economy.Now,the govt bring in social problems,it won’t be long we’ll see ethic local gang clash with the foreign indians and prc…
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@Nazareth: September 4, 2010 at 10:45 pm
ALL PRs CANT RENT OUT ANY HDB FLAT ROOMS.
ALL PRs MUST SELL BACK HDB FLAT TO HDB WHEN THEY LEAVE SINGAPORE.
[PRICE = PRICE OF INITIAL PURCHASE OR CURRENT PRICE, WHICH EVER IS LOWER]
PERIOD.
QUOTE-
Nazareth:
September 4, 2010 at 10:45 pm
PR can offer higher COV, They buy the house,then they squueze into one room and rent out the other two rooms.
$30,000 COV
$1200 for two rooms rental
can recover cost in 2 years $1200 x 25months= $30000
After two three years property went up 20% to 30%.
Sell and take all the profit and balek kampung.
Another house supposed to go to a Singaporean gone. The next Pr will realise the game and bid at a higher COV and the cycle continues.
Please ban the PRs from buying or subletting the HDB flats/rooms.
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We have surpass the 5mil mark in population,so many is enough? 6.5mil as they 1st thought?This is a tiny island,not New York state,it’s unbearable!
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http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_572659.html
” The Housing Board said the move is also to reinforce the notion that HDB flats are meant for long-term owner-occupation.”
—————————
SO FOR THOSE OWNING PRIVATE PROPERTY N HDB PROPERTY, ONLI TWO RULES NEEDED,
‘ ALL HDB OWNER MUST STAY IN HDB FLAT. ‘
‘ STAY IN HDB FLAT OR SELL IT. ‘
NO OTHER RULES NEEDED.
.
.
ALSO,
FOR PRs LIVING IN HDB RE-SALE FLAT,
1. CAN’T RENT OUT ANY ROOM.
2. WHEN LEAVE SINGAPORE MUST SELL BACK TO HDB, AT INITIAL SALE PRICE [STANDARD MARKET PRICE AT THAT TIME] OR CURRENT MARKET PRICE, WHICH EVER IS LOWER.
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@Parasite breed Parasite: September 5, 2010 at 2:23 pm
The rule suggested below is the best.
RICH SG PEOPLE N RICH PRs DONT NEED HDB FLATS, N SHOULD NOT PROFIT FROM IT.
OTHER PRs ALSO SHOULD NOT PROFIT FROM HDB FLATS, AS SINGAPORE ALREADY GAVE THEM BETTER PAYING JOB N A BETTER LIFE. PRs WANTING MORE SHOULD BE CITZEN.
==========
Quote-
ONLY ONE RULE NEEDED – ‘STAY IN HDB OR SELL IT’:
September 5, 2010 at 4:46 pm
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_572659.html
” The Housing Board said the move is also to reinforce the notion that HDB flats are meant for long-term owner-occupation.”
—————————
SO FOR THOSE OWNING PRIVATE PROPERTY N HDB PROPERTY, ONLI TWO RULES NEEDED,
‘ ALL HDB OWNER MUST STAY IN HDB FLAT. ‘
‘ STAY IN HDB FLAT OR SELL IT. ‘
NO OTHER RULES NEEDED.
.
.
ALSO,
FOR PRs LIVING IN HDB RE-SALE FLAT,
1. CAN’T RENT OUT ANY ROOM.
2. WHEN LEAVE SINGAPORE MUST SELL BACK TO HDB, AT INITIAL SALE PRICE [STANDARD MARKET PRICE AT THAT TIME] OR CURRENT MARKET PRICE, WHICH EVER IS LOWER.
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The above will make HDB FLATS easily available AGAIN n less costly.
PRs wont fork out outrageous sum for re-sale if they can only sell at standard market place back to HDB.
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HDB SHOULD INVESTIGATE ALL PURCHASE OF HDB RE-SALE FLAT AT HORRENDOUS PRICE, TO SEE IF ‘LEGAL’ MONEY IS USED.
DON’T MAKE SENSE TO PAY $653k for a 4-room HDB FLAT.
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THe offence of law is DUAL OWNERSHIP of both private property and HDB anytime and any circumstance except transitional between purchase upgrade or downgrade. Once you have unlimited dual ownership, it is the evidence, substance and opportunity for speculation in offence of the legislative law.
IT IS INCUMBENT UPON HDB TO COME CLEAN ON THIS LEGAL IRREGULARITIES AND CONTRAVENTION OF THE LAW WITHOUT FAVOUR, FEAR OR PREJUDICE TO ANYONE.
There a lot of people in need of public housing, there are a much smaller proportion who abused the law by their greed and HDB does NOT exist to cater and feed for the violation of those Persons-In-Need-Of-Protection-of-Protected-Interests.
HDB has records of these people with dual ownership – NOW TIDY UP YOUR ACTS PLEASE.
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dafts to follow rules, just transfer house to parents or children and put all kind clause with lawyers when transfer. No issue simple, just side show before election.Just like the daft malaysian who said she cannot buy resale hdb now because have house in malaysia parents staying , bullshit just transfer to parents what the problem all wayang only
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the best solution, buy HDB must stay in HDB.I know someone own two properties in orchard rd and have a 3 rooms HDB in tanjong pagar.How on earth can happened. Dont tell Malboro tan dont, i press income tax computer everything will show.All sleeping on their jobs.
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YOU OWN A HDB FLAT, YOU MUST STAY IN HDB FLAT.
SO SIMPLE.
APPLY THIS RULE ACROSS THE BOARD.
NO EXCEPTIONS ALLOWED.
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PR OWNING HDB FLATS CANNOT RENT OUT ANY ROOMS.
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there are already too many loopholes and cover ups, all these new so called control hdb policies are just wayang to tell you people that they are doing something about it. That’s all, and in the end still the local citizens will be the ones that would be penalized cos they cannot offend the new citizens, at least not until the next GE is over, get it?
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http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_572659.html
” The Housing Board said the move is also to reinforce the notion that HDB flats are meant for long-term owner-occupation.”
—————————
THEN HDB SHOULD IMPLEMENT STRICTLY THE RULE OF
”…..HDB flats are meant for long-term owner-occupation.”
OWN HDB FLAT MUST STAY IN HDB FLAT. PERIOD.
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N PRs SHOULD NOT BE ALLOWED TO RENT OUT THEIR HDB FLAT ROOM.
————-
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_572659.html
” The Housing Board said the move is also to reinforce the notion that HDB flats are meant for long-term owner-occupation.”
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Finally, the gahmen realise that huge resources are being put to building HDB flats, indirecly subsidizing gains make by speculators in the property market. Prices have shot up so steeply that many prople are priced out of the private property market, the eligible ones go and join the HDB queue.
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Just let the PR buy all the 99 year HDB and it will be worthless in no time. why is it singaporeans is so forgetful. those 40 years HDB will become useless soon. just let them buy and they will suffer later. its the best time to sell your old HDB at a high price now then migrate oversea where you can buy a freehold house at a cheap price
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sorry, i have no intention to impersonate you. I’m under the impression that one does not need to login to post comment and thus I could use whatever name I want. I didn’t know that you own the nick clueless, but now i know. By the way, what I posted is not something against the law, isn’t it?
clueless:
September 5, 2010 at 10:58 am
to below author, u really no guts but to copy my nick, scare police come look for u?
clueless:
September 4, 2010 at 11:44 pm
Just 2 points that I would like to make
1. Foreign private properties might cost much lesser than our “subsidized” HDB flats. The stigma of one being financially capable since he/she owns a foreign private property and thus he/she shouldn’t be buying a “subsidized” HDB flats might not be true.
2. Not every country has public housing and thus all forms of housing are private in nature.
By the way, I’m a born and breed Singaporean.
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