Why ever not, Mr Khaw?

I refer to the enhanced Lease Buy Back Scheme for HDB owners that our dear Minister for National Development Khaw Boon Wan just announced in Parliament. So much flexibility… Yet one sticking point remains. I refer to the oral answer MND gave in reply to an MP’s question which to wit (and to woo?) asked: “For the Enhanced Lease Buyback Scheme, whether HDB will consider relaxing restrictions on (i) the sale and subletting of the flat; and (ii) the minimum occupation period.”

The answer is: The Lease Buyback Scheme (LBS) provides seniors who wish to continue staying in their home, an option to monetise their flat for additional retirement income. If they have spare bedrooms, they can also sublet them after taking up the LBS. Those who wish to move out and sell or sublet their whole flat can already do so without the LBS. We do not have plans to relax the minimum occupation period which is applied to the purchase of all HDB flats.”

I refer to the words I’ve put in bold. They miss the point entirely. If I were a senior with the good fortune to own an HDB flat and wish to monetise a part of the value via the LBS and further monetise the asset by letting out the whole flat, why can’t I? And say, if I were an HDB owning senior who also enjoys the privilege of owning a private property — a bonus accorded only to HDB owners — I will have the option of living in my private apartment, won’t I? So why can’t I rent out the whole of my HDB flat while taking a bite of the new LBS cherry? Even if I don’t own a private pad but want to rent out the whole of my HDB flat while I sleep in the common corridor or void deck, why cant I? I am only maximising the underlying value of my HDB asset without parting with it!! I shouldn’t be deprived of this option. In fact, I think I should be given a pinggat that I have found a way to hold on to my HDB cake and eat it, while watching my cash hoard grow šŸ™„

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2 thoughts on “Why ever not, Mr Khaw?

  1. Why are Singaporeans so stupid and allow their government to walk all over them like a doormat only hell understands.

    Renting out your only home to survive or for more money is just so desperate and an insult to one’s dignity and humanity. The home, your only home, is part of you. One shouldn’t prostitute your only home. It is like prostituting one’s wife or daughter. The leaders and people ought to be ashame of yourselves for serving such manure on our dining tables.

    Our economy should be managed in the way that preserve human dignity – not most of the economic pie and benefits go to the elites.

    Furthermore, with the tightening of foreign labor, why is the prime minister talking about renting out your home as another source of income?

    What hypocrisy and lies!

  2. Alamak, Uncle, u got the wrong end of the stick.. I m arguing for the G to allow those who sell part of their lease under the LBS to let out their whole flat if they want to.

    If you can’t even understand this, don’t come here n whack whack the G, OK…

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