90% of households in HDB Lease Buyback Scheme received between S$100k and S$300k
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- čas přidán 10. 09. 2024
- Nine in 10 HDB households who sold part of their lease back to HDB received between S$100,000 and S$300,000. Giving an update on the Lease Buyback Scheme, HDB says that as of June, about 12,600 households have taken it up. It was introduced in 2009 to allow seniors to unlock the value of their flats while still living in them. HDB says that over the past five years, the take-up rate has remained steady at around 1,700 households per year. Claudia Lim with more.
This scheme is mostly suitable for people with no children or does not wish to leave anything for their loved ones when they pass on.
It's not a house. It's a flat.
Its a cage
A place where it provides shelter and people to live in is considered a house be it a flat, hut, bungalow, condominium or whatever types of housing.
@@shiq-pp2ps another troll. U go and google now and tell me the definition of a house.
When the locals need to resort to selling their only roof over their heads to survive in their elderly years , this really shows HOW costly the country is and why the locals are 'abanboned' by the system ,once they are no longer able to generate income of their own and the gov isn't givng them any form of welfare at such stage to survive.
This is nothing to be proud of, to announce this in the news as some sort of credit the PAP gov is claiming.
Remember ,you locals get what you deserved becos of WHO you voted for.😆😆
Wrong! The real problem is not planning for the future! The Chinese saying 少壮不努力,老大徒伤悲 best describes them! Since you are not local, don't paint the wrong picture of our government! Did you bother to find out how our government is helping those who genuinely can't work due to old age or mental/ physical issues. What you don't know doesn't mean that it doesn't exist.
@@user-um9re5vj8r ...not planning for the future?
You mean all these folks if they had planned very well, they would be able to buy and live in a FH, as in FREE HOLD LANDED?...or at least buy a property they TRULY OWN???
...instead of being scammed to think they own the HDB????
Gosh! Don't paint a wrong picture of your gov, as if they were NOT the ones making the country super expensive ,that such folks ain't got a chance to 'own any property' IN THEIR OWN COUNTRY ,even if they had planned so well and mislead others on your comments!!
If you are alone.think it's OK.
Can cash out or die rich alone .. u choose
If dont have anyone to leave the hdb to, dont say 100k, just getting back 10k also better than nothing at all.
Technically people don't own their HDB unit, you lease it temporarily from the government.
But some people will say otherwise
Guess the locals were 'scammed' all along to be told that the flat of theirs is an 'asset'!😆😆😆
HDB 99 years . Same as condo 99 years. The states will take it back. All apartments are built to last 100 years like MRT.
Can you sell & pocket the profit of a lease flat?!😝
They owned it for 99 years and can sell or rent it in the open market. If they don't own it they cannot sell or rent it.
CNA did not reveal how much was given to Mr. Rumley in cash.
Don't you know it will depend on what RA scheme he has chosen?!😝
$216,000 price of flat sold, Ramil FRS at 55 in 2013 was $148,000.
Ramli only get $68,000. His CPF life at FRS at best would give him less than $1000 per mth. Ramli better don't have more than 5 yrs of life from now or else he would need to be on welfare.
@@kengleetan63 What makes you think that his RA was zero b4 taking up the scheme?!😝
@@user-um9re5vj8r ..if this sort of ppl got RA inside even to BRS level (basic retirement sum) he would not be able to use this scheme cos BRS requires the property to be pledge to fulful half of the FRS.
Once he go on this scheme, there is nothing left to pledge to CPF.
Of course even with BRS , he will be paid peanuts from CPF life. So he is very low on funds now as in cash for daily living and needs money at 67. If you want to comment on such issue please have knowledge over the issue.
If he sells flat, all money will be returned to CPF to fulfil his FRS and he will have no roof over his head and cannot buy another flat cos after 55, FRS cannot be used to fund it.
So in reality, he go left ...die...go right also die.
The crux of the problem is a triple whammy for him as the cost of living sky rocketed after Covid and he neither have any passive income after his retirement to ride out both inflation and other expenses like higher medical cost and other costs like needing help in his elder yrs.
I should not be telling you all this becos as a local you should know, while you talk and act as though you are a smart axx to open your mouth to talk nonsense defending the PAP.
I would not do this. This is a heavy price to pay for some cash
exactly… short sightedness will lead to suffering
Pls accept PAP is NOW no Different from a Profit Run Criminal Enterprise
What is the discount rate used by HDB on this scheme? Seniors are being exploited by PAP.
But they love it, they are the main supporter of PAP, who to blame?
There’s a reason why people sell their cars away 1-2 years before the COE ends
@@nickng-jm1vksad but true
@nickng got it right. These folks deserved every bit of shxt coming to them cos they VOTED FOR IT!😆😆
Chill bro. The flat is only being partially sold, which is why is it also being priced partially,
There is also a guarentee for if the owner outlives the lease and still needs a home.
Good choices! 😁👍
Most people in Singapore buy their first or second flat in their 30s and these flats are no longer cheap nowadays compared to the 1980s. The flats as usual take up to 25 years to clear the payment.
People on average live until their 80s currently.
Just rent it out to earn rentals instead. You can live in it or live overseas instead base on the rentals. The lease sell back scheme sound good but you are not getting the full sum in cash. A part of it will be in cpf.
You got your flat around the age of 30 you might as well just live in it til you die and leave it to your children instead. They will have much more cpf and far lesser burden than you. Thats the purpose of life in the long run.
Try to understand the wheel and cycle of life and how to break it. You need wisdom as well as sacrifice to do this.
You either gather up all the pains of life and end it in your lifetime by leaving no new offsprings behind or you pave the way and made life easier for your own blood.
Dont fall into the pattern of living blindly and then wonder why your family cannot escape the cycle of struggle and hardships for generations.
The system is not your friend.
The last 30 years of a 99 year lease can be sold and valuate at hundred of thousands of dollars.
The money comes from the housing market and is borne by the people and market itself.
Ask for the actual cost build price of hdb they never give the answer.
Too sinful.
yes, no offsprings.. that’s the way
The problem is these young folks do not care. The HDB is tied to their CPF just like this Ramli. When sells, he got to return all the amount he took from his CPF plus the accured interest to fulfil his FRS.
The higher the price one buy, the more the younger buyer would use from their CPF.
Comes the time when they turn 55, that's when they know ,unless their CPF contribution had way exceeded the amount needed to fulfil their respective FRS plus interest ,which their FRS is already very high for their time, they would realise very little cash in return even if they sell it then.
So they will he sitting on a depreciating 'asset' as the lease goes down.
This draft is Soooo Misleading 👿The $200k looks good but *How much is Retained in CPF ?😈 Cash out? $20k ?🙄 💩💩💩💩
@@SarabarbieYoung ..exactly. this is precisely why the 158th media, CNA being part of it always report half truth or half lies, depending on how you want to look at this.
The amount retained would be the FRS (Full retirement sum) of each sellers depending on their age turning 55. For Mr Ramli that would be 2013 and the FRS then to be retain or'detain'😆😆 would be $148,000.
And the monthly pay out he receives from CPF Life at 67 with FRS not even a $1000 per month!
Coupled with the deducted amount left over, this Ramli could not even get half of the full price of his flat with the lease sold, that is less than $216,000 leaving him with at best $216,000 -148,000= he receives $68,000. At 67, if he lives another 15 yrs he would have at best 68,000/12/15 = $377 per mth plus whatever he can get from CPF Life payout of less than $1000, Ramli gets at best $1377 per mth at current and future cost of living. This is utterly insufficient as the cost of living now for one person is already more than $1500!
Amount retained is $216,000 -$148,000 = $68,000 plus CPF life which is less than $1000 per month.
If he lives another 15 years he would at best have $1377 per month from this point.
At current cost of living is already $1500 per person.
Who id bluffing who?😆😆😆😆
That's one reason PAP isn't getting my vote. I'm sick of their systems. They never cared for the citizens. Only make us suffer more in years to come. While they stayed in their ivory towers, shaking legs, snoring during parliament meetings or talk nonsensical policies that doesn't benefit us, only themselves. Furthermore we have to pay them with their overpaid salaries.
Well, they pay their Mayors ( whatever they do and are for) way over S$700,000 per yr not including their monthly MP pay of S$19,600 and bonus not included yet!😆😆😆
@@kengleetan63 Paying them millions to billions for creating more problems (SimplyGo, ERP 2.0 card reader etc lists go on) than solutions resulting the waste of people's tax money.
What's wrong with this scheme?!😝
@@user-um9re5vj8r ..go and read my other post and SEE FOR YOURSELF the actual calculation. Don't be a PAP mouth piece here make yourself looked like an IDIOT!😆😆😆
Jamus reiterated the Workers’ Party’s stance that the affordability of public housing is progressively deteriorating, which could potentially result in young Singaporeans being unable to secure adequate shelter.
Has he compared the spending habits of the young & old? The young who complained about hdb not being affordable don't go on exotic holidays yearly? Don't on one hand use food delivery frequently, on the other hand pay to exercise in fitness centers?
Not good! So little cash!
I dont understand ar… but off topic, i only know we all Sporeans hav to werk until we d!e!😑
‘They’ dont want us to njoy our Cpf money in a way thats y they took control of our Cpf!
Put aside this lah, put aside that lah until age 80plus blah3…walau weh… think we can ‘feel’ our money till we reach that age meh?
Confirm alrdy d!e liao lah.
Conspiracy theory.
A BIRD IN HAND IS WORTH TWICE IN THE BUSH.....🤣🤣🤣🤣🤣
HDB BTO......NOT 99 YEAR LEASE🤣🤣🤣🤣🤣HDB👍👍👍👍👍
Must fully paid the mortgage loan ?
prepare to sleep at east coast park or changi airport
must be careful, if the children getbthe money from the old folks after knowing receiving the money..
For the old folks, I don’t think this is a bad idea to avoid destroying the overall property prices (think Japan and China). However, questions are: who are paying for these buyback scheme (if not taxpayers) and if the property prices continue to climb so fast, is this scheme sustainable in the future years. What is the worth of million dollar HDB flats if the owners choose the buyback scheme. Do taxpayers pay for their million dollar windfall AGAIN?
Of course the buy back is paid by the government. HBD's valuation is tied to the transaction price in the vicinity. According to a BT article, about 4.4% resale hdb sold for > S$1m. The volume is yet to be big enough to push hdb valuation above million dollars. However, your concern is food for thought. You may want to share with the government.
Mr Ramli gonna finish all his money in Batam very soon 😂
😂😂😂😂😂😂😂nothing new .
This is very wrong with the system. On the surface it looks like seniors benefited by getting some cash n getting continue to stay..but in reality they lost their ownership of the flat..if these seniors have enough savings they would less inclined to resorr to such scheme
Wrong! They still maintain their ownership b4 the youngest owner turn 95. Nothing to pinpoint don't just find illogical things to say!😝
Exactly, another PAP defennder @user em9re5vj8r...kept saying otherwise and telling lies.
Ramli could at best fulfil his BRS, that's a fact. My hunch is that he even could not even fulfil his BRS. Cos if he had full FRS, inorder to fulfil his FRS at 55 he would need to pledge his HDB for it. Half in cash , half from his property pledge.
But BRS pay out at 65 is pathetic, a few hundred a mth. He is 67. Ramli has almost run out of cash.
He needs to 1) sell his only roof over his head ...2) use this Lease Buyback scheme.
But his lease buyback scheme would only return $216,000 - $148,000 = $68,000 in cash for him
In total he would have per mth hence forth for the rest of his life CPF life payout at 65 +$68,000.
CPF life pay out for him at FRS of $148,000 at best is only $1000 per mth.
So if he would live another 15 yrs, he would at best have $1377 per mth for the rest of his life.
Now the cost of living per person is no less than at bare min..$1500.
Now you get the figures, tell that lier to go fly kite.😆😆😆😆
The flat mentioned is 3room or 4rm type ?
UNCLE RAMLI ..... BOLEH🎉🎉🎉🎉🎉HAPPY RETIREMENT☕️☕️☕️☕️☕️
This is the excuse they the PAP like to show...uncle Ramli blowing his saving away, therefore the locals CPF got to be retained by the PAP. Or else most of these lower ses locals, uncle Ramli as example, would come back to burden the state funds.
On the other hand all the money retained by them in CPF.....well you know the story from here lah!😆😆😆
making poor richer
Wow! Another great accomplishment by the PAP govt once again.❤❤
Sucking the older folks dry first, then next will be those in their 50s to 60s . Just mark my words( HDB doesn't do charity!!!!!!!!!!!!!!)
I was apprehensive in the beginning but when I dived deeper, these scheme is like an offer to buy a life insurance with warranty until 95 yrs old. To those who are able to spring like a chicken, these scheme looks very offensive.
my god buy shoes box lah 😂
BRO RAMLI.....START A COLLECTION CENTRE.....GOOD INCOME🤣🤣🤣🤣🤣4D.....TOTO.....TOO....FOR YOUR NEIGHBOURHOOD.....FRIENDLY NEIGHBOURS🤣🤣🤣🤣🤣
Thanks but no thanks
This is especially so for many young Singaporeans, who often feel priced out of the market, right at the point of graduation. ”
welfare for the poor
Jamus emphasized that this situation not only impacts their cost of living but also leads to undesirable outcomes, such as delaying the age at which they establish families or weakening their ties to their homeland.
BRO.....I WILL FOLLOW YOU....YOUR MOVE....TO CASH OUT.....THANK YOU🎉🎉🎉🎉🎉
RENT A HOUSE ACROSS THE CAUSEWAY IN JB....WEEKENDS ONLY.....ENJOY SPEND MONEY THERE🤣🤣🤣🤣🤣🍻🍻🍻🍻🍻NASI LEMAK SATAY MEEREBUS DAGANG RENDANG NASI BRYANI.....SAYOH LODEH.....BEST🤣🤣🤣🤣🤣SOTO AYAM....TAHU GORENG....GORENG PISANG....CHENDOL✌️👍👍👍👍
🤣🤣🤣🤣🤣
It’s hard to shake the reality that homes here are unaffordable; putzing around with subsidies only makes things less bad,” Assoc Prof Jamus Lim added.
So we must vote pxp?
Daft will be daft.
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