HDB made huge profits from its sale of flats and yet it is still
trying to squeeze more and more profits by S-A-L-M-A-N-I-S-I-N-G
the purchasers with wrongful resale levies.
It is ridiculous that citizens simply keep paying more and more
profits to the HDB to no end.
Originally, in the early 1970s when HDB only charges construction
costs in selling flats to people under the "Homeownership for the
People" scheme at $6,200 for a 3-room standard flat and $7,800 for
a 3-room improved flat, I fully agree with the levy to discourage
people from taking advantage of subsidy by limiting any one who has
bought HDB flat at original lowly-priced flats to one upgrading to
a bigger flat or as HDB put it to one bite of the cherry.
In later years when HDB increases the price of 3-rm flat from
$7,800 to $150,000 for a similar 3-rm flat and sells the 4-rm flat
at $200,000, it is charging at full market price and any so-called
discounts is only window dressing and not a subsidy.
HDB has lost the right from the late 1970s to say that it is
subsidising its 3-rm or 4-rm sale flats. It is only through
creative accounting that it is claiming to give subsidy the reason
for collecting the resale or upgrading levy but it simply carried
on the charging.
WP should consider adding one more item to the Manifesto : "to
abolish the HDB levy and refund all levies to the purchasers
especially after the HDB priced the sale prices to include land
costs up to full market values and more especially after HDB resale
prices have kept dropping from the HDB original sale prices.
