Family with 1K income can buy flat says Tharman

[Latio2005A]

Suddenly I have an idea.

Let's all go out and get those poorer Singaporeans and ask them to seek their MP's help to get a flat if they are earning $1K or thereabout.

 

Our DPM/ Fin Min said one, so can quote him kao kao liao.

 

 

[Cwong2910]

Extracted from

 

http://askhdb.hdb.gov.sg/Home/Hybrid/Theme...ategory%3D60640

 

----------------------

 

 

My household income is $1,000 a month. Can I still afford an HDB flat?

[ Hot Topics > Buying A Flat ]

A:

HDB

[Evillusion]

  On 3/2/2012 at 2:23 PM, Darthrevan said:

i meant no malice..obviously a person who earns $1k have to be contented with a 2rooms flat..those detractors who said 4rooms flat are simply self-deluded

thats the truth right now cos the price of new flats(any types) had increased exponentially..10 yrs back hdb were building 4 rooms as their smallest unit and pple got to buy as there were no other choice. I know of pple whose earning were slightly above 1000 and servicing their loans for 30 yrs with no problems bar some unforeseen circumstances.

it is only recently that the gov started building smaller units with an exorbitant price to match and asking the less well-off

to think about these units should they have no choice. The problem does not lie with you or me or the masses but lies with the way the gov pegs the current price of the new flats and how the gov does not want to implement minimum wage laws.

What if the price of our public housing keeps ballooning as it is right now and even a small 2 rooms flat breached the 200k marks or higher. Will the gov tell these folks to build a camp in east coast..or will the gov starts building flats smaller than what they are building now! HDB flats are public housing and public housing should be affordable for the citizens. The gov have the power to rein in the runaway price if they want to and only if they want to..

Edited March 2, 2012 by Eviilusion

[Cwong2910]

  On 3/2/2012 at 2:54 PM, Eviilusion said:

What if the price of our public housing keeps ballooning as it is right now and even a small 2 rooms flat breached the 200k marks or higher. Will the gov tell these folks to build a camp in east coast..or will the gov starts building flats smaller than what they are building now! HDB flats are public housing and public housing should be for the citizens only and they have the power to rein in the runaway price if they want to.

 

2rm flats already breached 200k mark.

 

The price of new 2 room flats are much lower than market price

Fernvale Lea = $83,000 - $112,000 (45 sqm = 484 sq.ft)

$231 per square foot

(Ref: http://www101.hdb.gov.sg/hdbvsf/eampu01p.n...pen&ft=bto)

 

Compare to recent resale price of Woodlands 2 rm flats (can't find any for Sengkang, think its still too new)

16 Marsiling Lane 06 to 10 45.00 Improved 1984 $256,000.00 Feb 2012

16 Marsiling Lane 01 to 05 45.00 Improved 1984 $230,000.00 Dec 2011

16 Marsiling Lane 06 to 10 45.00 Improved 1984 $255,000.00 Nov 2011

16 Marsiling Lane 01 to 05 45.00 Improved 1984 $231,000.00 Apr 2011

 

 

[Evillusion]

  On 3/2/2012 at 3:11 PM, Cwong2910 said:

2rm flats already breached 200k mark.

 

The price of new 2 room flats are much lower than market price

Fernvale Lea = $83,000 - $112,000 (45 sqm = 484 sq.ft)

$231 per square foot

(Ref: http://www101.hdb.gov.sg/hdbvsf/eampu01p.n...pen&ft=bto)

 

Compare to recent resale price of Woodlands 2 rm flats (can't find any for Sengkang, think its still too new)

16 Marsiling Lane 06 to 10 45.00 Improved 1984 $256,000.00 Feb 2012

16 Marsiling Lane 01 to 05 45.00 Improved 1984 $230,000.00 Dec 2011

16 Marsiling Lane 06 to 10 45.00 Improved 1984 $255,000.00 Nov 2011

16 Marsiling Lane 01 to 05 45.00 Improved 1984 $231,000.00 Apr 2011

we were talking about new flats...my bad as i din mentioned it in my post!

[Raymondism]

  On 3/2/2012 at 12:07 PM, Eviilusion said:

most prob u have not been to the rural parts of MY (especially the northern area)...poverty hits everybody no matter what colour or creed. Its easy to blast off your mouth without doing a proper research or u just want to stir shite!

 

i think life in the north eastern part ofmalaysia... seemed hard but i think the pple are happy...

i just went couple of weeks back

[Jacklim82]

Earm 3k can landed,

Earn 5k can buy sentosa cove

[Evillusion]

  On 3/2/2012 at 3:24 PM, Raymondism said:

i think life in the north eastern part ofmalaysia... seemed hard but i think the pple are happy...

i just went couple of weeks back

yup! kelantan and trengganu have a lot of poverty but they are used to it! maybe its true that wealth is a curse

cos this pple seems contented and happy

[Raymondism]

  On 3/2/2012 at 3:30 PM, Eviilusion said:

yup! kelantan and trengganu have a lot of poverty but they are used to it! maybe its true that wealth is a curse

cos this pple seems contented and happy

 

some pple will say if all think like me then we will remain as cavemen

 

i think we progress too fast and killing ourselves..

[Darthrevan]

KBW jumped in to defend!

 

SINGAPORE: National Development Minister Khaw Boon Wan has clarified comments made by Deputy Prime Minister Tharman Shanmugaratnam, that a household with a S$1,000 income can afford an HDB flat.

 

Mr Khaw said the comment had caused a stir, as it sounded so incredible.

 

But he said Mr Tharman was referring to a two-room Built-To-Order (BTO) flat.

 

That's because such a flat would cost a first-time applicant - who earns S$1,000 - about S$40,000, after subsidies.

 

The mortgage payment, said Mr Khaw, can be fully paid through the applicant's CPF, without incurring any additional out of pocket money.

 

Mr Khaw added that most applicants of two-room flats earn above S$1,000.

 

And based on recent BTO launches, the median income for this group is about S$1,400.

 

source: http://www.channelnewsasia.com/stories/sin...1186651/1/.html

[Evillusion]

no lar! when one is young they prefer the high paced lifestyles that is now singapore..but as we ages we will prefer the slow paced and laid-back lifestyle of the north-east of the peninsula. I for one will love a slow drive or walk in an idyllic kampung by the sea like those in trengganu when i reach my golden yrs

[Raymondism]

  On 3/2/2012 at 3:42 PM, Eviilusion said:

no lar! when one is young they prefer the high paced lifestyles that is now singapore..but as we ages we will prefer the slow paced and laid-back lifestyle of the north-east of the peninsula. I for one will love a slow drive or walk in an idyllic kampung by the sea like those in trengganu when i reach my golden yrs

 

no leh

maybe i born old...

[Cwong2910]

just to add on this topic about 1K income families and the help they may qualify to get.

 

 

on top of the HDB scheme....those earning 1K and >=35 yo eligible for WIS (cash + CPF)

http://mycpf.cpf.gov.sg/NR/rdonlyres/2BE8F..._EEBenefits.pdf

 

Various programs from MCYs to help the needy (1K easily qualify as needy)

http://app1.mcys.gov.sg/Policies/Helpingth...mesSchemes.aspx

 

No Income Tax

http://www.iras.gov.sg/irasHome/page.aspx?id=1190#resident

 

2rms have zero property tax

http://www.iras.gov.sg/irasHome/page03a.aspx?id=12804

 

GST Vouchers - S$250 per year

http://www.singaporebudget.gov.sg/budget_2...milies1.html#f7

 

Subsides for Healthcare

http://www.moh.gov.sg/content/moh_web/home...ist_Scheme.html

 

[Evillusion]

  On 3/2/2012 at 3:45 PM, Raymondism said:

no leh

maybe i born old...

hahaha....and u will most probably gets younger as u aged!

[Alim]

  On 3/2/2012 at 10:00 AM, Eviilusion said:

How come they asking pple to look downward when 10 yrs back pple earning 1000sgd can afford a new 4 room flat with 30 yrs loan! now 30 yrs loan but asked to buy a small cubicle that they call a home is pretty much a scam!

Even Malaysia whom we say is bias dont do this to its citizens.

Its like saying take it or leave it to spite the less well-off while they themselves enjoy the good life! :angry:

 

Why you still don't understand?

 

HDB CEO already said,"Smaller flats doesn't mean lower quality of living."

 

[Evillusion]

  On 3/2/2012 at 4:19 PM, Alim said:

Why you still don't understand?

 

HDB CEO already said,"Smaller flats doesn't mean lower quality of living."

 

ok...ok u win anymore of this i may start believing the craps that is being spewed out!

[Damienic]

  On 3/2/2012 at 3:39 PM, Darthrevan said:

KBW jumped in to defend!

 

SINGAPORE: National Development Minister Khaw Boon Wan has clarified comments made by Deputy Prime Minister Tharman Shanmugaratnam, that a household with a S$1,000 income can afford an HDB flat.

 

Mr Khaw said the comment had caused a stir, as it sounded so incredible.

 

But he said Mr Tharman was referring to a two-room Built-To-Order (BTO) flat.

 

That's because such a flat would cost a first-time applicant - who earns S$1,000 - about S$40,000, after subsidies.

 

The mortgage payment, said Mr Khaw, can be fully paid through the applicant's CPF, without incurring any additional out of pocket money.

 

Mr Khaw added that most applicants of two-room flats earn above S$1,000.

 

And based on recent BTO launches, the median income for this group is about S$1,400.

 

source: http://www.channelnewsasia.com/stories/sin...1186651/1/.html

 

What is the monthly instalment for a S$40,000 if say for a loan of 32K to repay in 20yrs? Actually for a gross salary of 1k, take home is only $800. Minus utilities and transport one is left about $650. If single and no wife no children, maybe still possible.

 

 

[Evillusion]

  On 3/2/2012 at 4:19 PM, Alim said:

Why you still don't understand?

 

HDB CEO already said,"Smaller flats doesn't mean lower quality of living."

 

but i dont mind cramping in the small cubicle with the news presenter!