Rachel Lim Yan Xuan I cannot believe that Some Singaporeans have the cheek to accuse me of creating a myth HDB does not have Title Deed. Prove me otherwise. I will go bang table at HDB for the MISSING title deed in 2009 I requested for. I MAY BE A BIMBO BUT I AM NOT A FOOL. A fully paid HDB does not have Title Deed. Try seaching Title Deed on its website. hdb.gov.sg/ HDB value is ZERO at end of 99years lease and it is confirmed by Minister Khaw Boon Wan from PAP when NCMP Gerald Giam from WP asked him about it. geraldgiam.sg/2014/02/value-of-hdb-flats-at-end-of-99-year-lease/ All HDB flats are sold to Singaporeans on a 99-year lease. We are technically not home owners, but lessees. If you are scared of political explanation because I quote from Members of the Parliament, no worries. I find you a financial explanation by a fee-based professional financial planner, Mr Wilfred Ling. ifa.sg/hdb-title-deed/ HDB Title Deed 25, DECEMBER 2009 BY WILFRED LING LEAVE A COMMENT I was shown a “Land Title Deed” of a 5 room HDB flat. For those who does not know, it is not a title teed. Instead, many are shocked to see that the “owner” of the flat is merely taking out a lease. It clearly shows that the owner is not an “owner” of the flat. The so called ‘Title Deed’ is given to the owner when all mortgages are paid. However, what is written in the title deed is a reminder that HDB owners do not really own their flat. The “Title Deed” shows that it is a lease probably because the property is a 99 years leasehold or perhaps HDB flats are tightly regulated government properties. Likely it is due to these two reasons. So should we rent instead of “buying” a HDB flat since the latter does not make us owners even if all mortgages are paid up? Well, for a 5 room flat it is not too difficult to rent the entire flat for $2000 per month. Assuming a time horizon of 30 years and that the discount rate is the same as inflation, the present value of this rental is the 2000 x 12 x 30 = $720,000! It is possible to buy a 5 room flat at a much cheaper price than this. Thus, “buying” a 5 room flat is still more worth it. But most still cannot swallow the hard fact that “owners” of HDB flat do not own the flat!
Posted on: Sun, 11 May 2014 17:04:40 +0000
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