With a pay cheque of $1,700 a month, Mr Melvin Marc Loh, 52, had long accepted that he would not be able to buy a flat in Bedok to live near his mother. “I don’t think I can afford to buy a resale flat in Bedok with my salary,” said the sales associate, who is...
He had to move into his sister’s flat, as he did not have much savings in his Central Provident Fund account.
Similarly, civil servant Ms Teo, who asked that only her surname be used, is planning to apply for a two-room flat to live near her family after the new framework is rolled out. But only singles who earn $14,000 or less a month can buy Plus flats on the resale market in the future. “Life circumstances can change in a few years. If I buy a two-room BTO flat, and after a few years, I find a partner and have a child, I would have to share the one bedroom with my child until he is six or seven years old before I can sell the flat,” he said, noting that he would be in his 50s by then and may not have enough money in his CPF Ordinary Account to buy a bigger resale flat.
Huttons Asia senior director of research Lee Sze Teck said he understood singles’ disappointment at the size and age restrictions. “However, there is a need to strike a balance between the needs of singles and families,” he added. He added that the $14,000 income ceiling for both families and singles buying Plus resale flats will help curb potential sharp price increases when such flats are resold, thus ensuring they remain affordable to Singaporeans.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Severe hoarding issues': Elderly man turns Henderson Crescent HDB block corridor into 'junkyard'An elderly man with 'severe hoarding issues' has been leaving heaps of clutter outside his flat in Bukit Merah, stumping both neighbours and the town council alike. Stomp contributor Ricardo said this has been a persistent issue at Block 105 Henderson Crescent that started 'almost two years ago'. He shared a video taken on August 10, showing numerous items cluttering...
Read more »
Elderly man with 'severe hoarding issues' turns Henderson Crescent HDB block into junkyardAn elderly man with 'severe hoarding issues' has been leaving heaps of clutter outside his flat in Bukit Merah, stumping both neighbours and the town council alike. Read more at stomp.straitstimes.com
Read more »
Commentary: How the new HDB policies for Plus and Prime flats will promote housing mobilityThe property market in land-scarce Singapore is remarkably robust. Developments with good locational and site attributes could in fact enjoy substantial capital appreciation, helping their owners reap a hefty windfall when sold on the open market. As a result, housing here has been widely popular
Read more »
Around 300 HDB carparks have EV chargers now, with number set to double by year endThis means 15 per cent of all HDB carparks have these chargers now. Read more at straitstimes.com.
Read more »
New contractor appointed for Punggol BTO project after HDB axes previous one over poor progressAll six blocks are expected to be ready between the fourth quarter of 2024 and the first quarter of 2025. Read more at straitstimes.com.
Read more »
Bedok neighbours rally to protect hood from snake, man grabs it by neck and places it in sackResidents of Bedok North Avenue 4 got together to take care of a snake on Tuesday night (Aug 22). Sharing photos of the incident, Stomper Sabari said it happened at about 8pm. 'The area was crowded with children and adults alike for neighbourhood...
Read more »