17 Apr '18, 10am

Your HDB ticking time-bomb lease - there is a solution

Your HDB ticking time-bomb lease - there is a solution

HDB's CEO Dr Cheong Koon Hean said in a forum last week that buyers of resale flats should pay less for older flats because these flats have a lease of 99 years. This is bad news for Singaporeans who paid premium prices for the flats because we were promised that the value of our flats would appreciate over time. Moreover, many used our CPF savings to service the housing loans. Because of the government's asset enhancement promise, retirees are now hoping to monetise the flats to fund our retirement. But what is happening now is that as the flats age, their resale values drop putting retirees in a financial nightmare. Such a development, however, does not have to end in disaster. There is a solution and it is found in the SDP's alternative housing policy. What is this alternative? It is the Non-Open Market (NOM) flat scheme that the SDP proposed in 2012. Under our policy, ...

Full article: http://yoursdp.org/news/your_hdb_ticking_time_bomb_lease_...

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