Silver housing bonus to boost HDB resale market

another stupid policy, example sell ur 4rm flat for 400K, buy studio 100K (30yrs), but only get back 169K, 131K kena lock inside CPF, might as well just rent out 2 rms and earn 1K a month, after pass away children will benefit from 400k

WtF its misleading! once you turn 55, every cent you pay your hse thru cpf will
go back into cpf acct n by then cpf will lock the amount.you will only received what is
balance after they put aside the minimum requirement for retirement n medisave.
stupid policies!!

Another alternative is to rent out extra room(s), still keeping the flat for next generation..

best way to ensure some income is to rent your rooms instead of downgrading. You have income, company and you can stay in your longtime HOME where you are familiar with your surroundings. YOu dont get your money from downgrading, it goes into CPF for ever!!!

Why must the ederly sold the flat then got the bonus.another way to mislead old folks.

Buyback Scheme Housing Silver Bonus of $20,000 awarded sound interesting but not attractive without GOVT first removed their policy on premium and levy to help older Singaporeans that wish to sell their existing flats and purchase three-room or smaller HDB flats.

Right hand give $20.000.00 and left hand take back more from premium or levy.

never trust pappies... there is NO such thing as FREE LUNCH !!!
someone has to pay... and sadly, it is the aged and poor old folks !

RETURN ALL OUR CPF MONEY AT 55 AS YOUR PROMISED !!!

Once the elderly owners sold their existing flat, part of their funds will be locked up by the CPF. There won't be much cash balance if they end up buying a studio flat from HDB as they are required to pay the full purchase price upfront which will be as much as 150K in areas like Queenstown. After 30 years, the properties will be return to the HDB without a single cent left. Not everyone would be given the 20K bonus as it depends on the type of their existing flat. So how long would the money last. At the end, the old folks would end up living in a smaller studio flat and probably not richer at all.

To me It a Bogey trap again...
There are much more better ideals then this if you seriously want to help the Old...

hope the 60.1% dafters will commit to this silver housing policy, since you supported pap, show ur heart and support pap policy

What silver housing.full of shit.

That old fellow sell the flat and buy another ,in the end he still has a large amt lock in the CPF acct which he cant withdraw for use ,he's still as poor as ever .Why is the govt making simple thing complicated ? Just build more studio flats ,rent ( dont need to sell them at what 30 yr lease .) it to these aged at subsidised price .The buyers had their proceed from the sale of his flat lock in an account which a certain amount would be release on a monthly basis. THis way he has ZERO money lock in the CPF account ,and could lead a comfortable sunset days .

Very funny... one hand say new scheme will boost resale market, another say resale price will drop 10%.????

If agents is able to give a history of the unit , it will elevate fear of the elderly from moving to a place that they are not quite familiar with like :-
1. Type of existing neighbors - noisy , inconsiderate , peaceful , friendly , quarrelsome
2. Unit History - Was there sucide / loan sharks , deaths in the house / fire ?
3. Number of owners since the unit was bought?
4. Any bed bugs history ?

Why is it getting more complicated? These old folks should think if the $20k... I mean $15k, the remaining $5k to CPF is worth it. How long can $15k last? Better to stay put where one is comfortable. Why stress yourself?

Think carefully , with today's inflation a $20,000 bonus can only help an aged couple last 33 mths or 2.7 yrs ( assuming both are still healthy ).The key is all aged has health problem , so that bonus probably last them less then a year . After that better die , coz hse become smaller already , CPF kana lock already , $ no more already . The only one who benefited is the son or grandson who can inherit the CPF $ .

i am sure the 60% supporters will gladly lead us the way and down-grade your hdb flats, right?

Companies' sales and GDP could be falisfied. Some companies in Singapore intentionally report very high sales so that they would be taxed. They mention that they want it to be so in order that their companies could obtain loan easily from banks/finance companies or in getting more customers. I knew one of the company in Singapore that deals with purchase and sales of vehicle. The salesman in that company inflat the vehicle price at let says, $80,000, with the actual dealing price with customer, let's say, $45,000. The agreement has been drafted and signed at $80,000, to assist his customer to obtain higher loan from finance company. The sales invoice was also raised at $80,000. Yet the customer only pays them only $45,000. Do you know what the company that deals with purchase and sales of vehicles do? They take in total sales invoice of $80,000 into the accounts. The balance of $35,000 has been treated as the amount being paid by boss and that boss just simply signs a fake voucher to be treated as evidence to be received by him. He mentions that he does it so in order that his company could report to yield profit every year. So, what is GDP? GDP has been falsified by some companies so as to inflat their sales in order that they could report profit in their companies. Customers have assisted them in signing fake agreements so that they could furnish information to bank/finance companies to obtain higher loans to finance their purchases. Thus, what is GDP? PAP has been relying on GDP and comment that more immigrants would attract higher GDP. However, they do not know that some companies have co-operated their suppliers to inflat their sales that has contributed the increase of GDP. Thus, the reliability of GDP is in question as a result of some culprits from companies. Even the auditors could not find evidence from them since customers and suppliers have been co-operated to cover themselves.

Ah Gu are you telling me a studio cost some 300K to built ? average 100k for 30yrs only, can sell for 3 times, so hdb make 200k over a studio for a 99yr period