[BicCherry]

More important to subsidise public transportation than public housing in Singapore .

In sketching out what the Greater Southern Waterfront (GSW) will look like, PM Lee said entire area will be double the size of Punggol town.PHOTO: PMO. Source: https://www.straitstimes.com/politics/n ... of-greater


For public housing, just build more HDB and the prices will stabilise. For those high class areas like Pinnacle at Duxton, Southern waterfront, just provide bidding system like LTA auction for car number plate numbers. People bid how much they want to pay for top 3-5 units of their choice, even if they bid $2 million for the HDB flat, cavete being that only Singaporean can but and all the usual ownership/ resale limitations apply. Same subsidy qualifications but those who receive high subsidy but fork out $2 million for HDB may be investigated by IRAS for non declaration of income source. https://en.m.wikipedia.org/wiki/First-p ... id_auction should be the method use for selling premium HDB flats.

Public transportation needs to be properly subsidised since people staying far from city are likely to be poorer since obviously they cannot afford to stay in city centre or afford the $1 million for a Pinnicle at Duxton HDB flat.

To subsidise souther waterfront flats and allow buyers to each profit upwards of S$700,000 from flipping these flats after 5 years occupancy period is grave injustice and squandering of national funds by MND. Such public funds should better be spent on public transportation so that the people staying in Punggol, Woodlands and Jurong West can visit the greater Southern Waterfront and Sentosa whenever they like, at an affordable price.


Reference :
https://www.channelnewsasia.com/news/si ... y-11920858

[BicCherry]

Scrap premium public housing at GSW.

Only a few greedy Singaporeans will benefit at every other Singaporeans' expense.

:col2

Can still have lah, just use sealed bid auction or maybe auction based on an index price that is varied by height, facing, flat type. Every bidder must put down say 50% of the average price of flat type he is bidding for (e.g. $200,000). If his PSF bid qualifies, he must pick his flat and buy it based on his own offer price, his chance to choose in random order by ballot.

If he doesn't choose when it comes to his turn, he will forfeit his deposit based on his rank in the queue (e.g. 1000 units sold; 1st to choose but refuse will forfeit 100% of deposit, 500th to choose will forfeit 50% deposit and last to choose will not have to forfeit any deposit; and one random flat will be removed from the list if a bidder opts to pull out and be recycled into the next round of sales with the exact same auction system until all flats are sold etc).

So, still can have HDB in GSW, but those who bid better be rich as well as do their sums right, otherwise just choose Punggol and Woodlands flat and enjoy subsidised public transportation to get to Sentosa or GSW.

Other Singaporeans are free to visit anytime, use sky Gardens etc because public transportation will remain highly subsidised and resale HDB will always be a grade cheaper due to lack of private sports ammenities, lack of privacy and due to ownership limited to Singaporeans only etc.