Singaporeans should not continue to be fooled by PAP with regard to public housing grants and subsidies.
For example, many feel relieved that PAP has provided increasing amounts in CPF grants over the years. But why should grants keep increasing if HDB flats were affordable in the first place?
The real objective of CPF housing grants: keep property at inflated prices.
This benefits PAP in many ways, eg higher stamp duty collection, higher transaction prices = higher GST revenue, higher income tax from increased earnings of property agents, etc.
Lower HDB resale prices will result in fewer HDB lessees upgrading to private property. In fact, private property prices would have declined if housing ‘grants’ were not increased.
As for HDB Lift Upgrading Programme (LUP), lessees are not subsidized but in fact subsidizing the government. This is because HDB lifts – unlike condos where owners jointly own all common property – are owned by the government, .
The HDB LUP is a … scam. Time for HDB to foot the entire bill if PAP still wants to have total control over public housing.