13 Aug 2012, 2.01PM
As a decent human being, the 3 main basic fundamental needs is shelter, food and job.
The by-product to that is transport, health.
Next come the well-being (Entertainment, self aspiration)
The topic of discusion here is shelter --- Housing.
The govt has did an excellent job in providig public housing till the the enhance of Asset comes in.
HDB fundamentally provide as an minimium shelter into a luxury "Home"
Pricing soaring high beyong the reach of the new up and coming young citizen.
It is obvious ow we had the following problem
1. supply is not in-line with demand and luckly the govt is working on it
2. escalating price of HDB to always a new height
3. Asset Enhancing and making money from resales or renting.
Let put things i right perspective.
1. HDB is for SINGAPOREAN and every singapore should able to own it (Of course priorit given to those who need it most)
2. It should seen as a home and not a vehicle to make money
3 It should be between govt and Singaporean or between Singaporean.
I would recommend that
1. Renting of rooms or house is only permitted by Singaporean own HDB.
2. Understnading that we need PR in Singapore to help the economy and hopefully they can turn into Singaporean. So the purpose is to help them to have a roof, I would suggest that
a. PR can buy house from SIngpaorean and pay COV for that HDB flat. However, when they want to sell the HDB flat, they must sell it back to HDB at market price as by the surveyer. They will not gt their COV back. That is the price they need to pay.
b. As it is a means to help them to have shelter, they can only buy it for self stay and CANNOT rent itout to anyone else. This willcut down PR who wants to make a living out of renting HDB flat or rooms.
c. To own the HDB flat, the PR need to decide to be Singapore in period determine by govt, either 5 or 7 or 10 years after the purchase or High Propoerty Tax of 10~15% is imposed. after that.
d. There is a longer period b4 they can sell he unit or only with approved reasons form govt or heavyh penatly is place upon them.
e. For the first HDB, no levy is imposed, if they sell and buy the second unit, they need to pay 20% levy and for third house, 40% and so on.
3. PR cannot rent out whole house or whateve reasons. If they need to work oversea, sell the house.
4. Create R-HDB and F-HDB.
a, R-HDB is for Govt to sell the HDB at a very low price (it can be informed that peg at 50% below mkt)but the catch is that they only can sell back to Govt at the price 50% below mkt without COV.
ppl who buy R-HDB ar not allow to own any private property regardless of local or foriegn. If the person can own Private housing, he no longer needs govt help
b. F-HDB is for Govt to sell at current practice and it is up to the public to have it resale in mkt depend on Mkt force.
5. In this matter, the govt solve the problem for those who just enter the society and can start the family fast and the low income group.Govt fulfill the promise on "EVERYONE has an roof above them"
6. As time pass, Govt can control the qty of R-HDB and F-HDB. No more subsides for first time owner as some first time own comes form rich family.
There are other idea I had and will write later If anyone interested