PSP proposes land cost to be excluded from prices of BTO flats; PAP MPs say it will distort public housing market
Non-Constituency Members of Parliament (MPs) from the Progress Singapore Party (PSP) proposed on Monday (Feb 6) that prices of new public housing flats exclude the land cost of land.
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https://tdy.sg/40wv5Pj
@todayonlinesg
and the replies are basically threats that profits when you sell will be lower?
coz in singapore pyblic housing is sold almost like private
and money and greed is one reason PAP stays in power and why singapore will always be a 3 rd world country in its people
Use this topic is one way to bring down and jerk pap. Piss them off
Even if you want to support this.....how does it work?
(07-02-2023, 08:57 AM)sgbuffett Wrote: [ -> ]Even if you want to support this.....how does it work?
Quote:- [size=11][b]Among PSP's proposals were to exclude the land cost from new flats, and for sellers to repay this cost with interest when they sell the flat[/b][/size]
The proposal is stated above.
Even if it works it is a really bad one with many loop holes.
The land cost is recoverable in resale. So BTO you pay 100K for a flat and exclude 400k land cost. Later you sell at 550K to reslae you, pay back the 400k(or more if land price goes up) and pocket $150K with 50K profit.
The problem is most will ever sell it in resale market having gotten a $100K flat with zero land cost and stay and pass it to children to stay until lease runs out. The deal is like paying $1K a year for housing ....People will never ever let go.
Since and cost is excluded every one will queue for central areas...and complain when they can't get what they want.
Also over subsidising one group now will result in anger for earlier groups who were not subsidised and still servicing their loans
Yes we all do not like the high property prices but the root cause is high population density. ...we have to solve the root cause not come up with artificial.schemes that requires givt to give out flats for almost free.