Instant citizen, instant wealth
This must be the best slogan to attract PRs and foreigners to take up Sinkie citizenship. It is not only a very attractive choice, to live in the world’s riches country with jobs aplenty, there are also many advantages to being a citizen. Education subsidy, medical subsidy, govt hongbaos, priority for children education etc etc all comes attached to instant citizenship. But all this pales in comparison to the instant cash to be made in housing subsidy. But that is not all. Getting a flat directly from the HDB and selling in the resale market after 5 years is as good as being guaranteed a return of at least 50% to 100% of the purchase price, more likely to be more as prices of HDB flats have proven to go up in 5x, 10x, 15x and 20x.
The new citizens got the govt to thank for for this great opportunity to become a Sinkie and with instant monetary rewards in the hundreds of thousands, not $300 or $400. The govt has made it so easy for them to buy a flat at market subsidized price. The govt also ensures that there will be demands for these flats at market prices which often are several hundred thousands more. The PRs have no choice but to buy from the resale market. Then the silly Sinkies who were too hurried to sell for a small profit, and after two bites of the cherry would now have to buy from the resale market.
The most pathetic group would be those disqualified by the govt from buying direct from HDB. This group would have to pay more than double the price in the resale market for being citizens of Sin. And the new citizens must thank the govt for it, for this group of Sinkies to have no choice but to buy from them, to make them rich.
Instant citizen, instant wealth. Unfortunately some Sinkies will be intant poor, or robbed to pay for flats in the resale market. How not to attract the best FTs into Sin?