Khaw Boon Wan: We priced BTO flats to be ‘affordable’ to all Singaporeans

[makapaaa]

[h=2]Khaw Boon Wan: We priced BTO flats to be ‘affordable’ to all Singaporeans[/h]Posted by temasektimes on August 14, 2012
There is no need for HDB to offer 50-year loans as HDB flats remain ‘affordable’ to all Singaporeans, declared National Development Minister Khaw Boon Wan.
Speaking in parliament yesterday, Mr Khaw said:
“We price BTO flats to be affordable, well within one working lifetime. There is no need for working couples to take 50-year mortgages to buy HDB flats.”
United Overseas Bank (UOB) started offering 50-year home loans last month in response to sky-rocketing property prices which have priced many ordinary Singaporeans out of the housing market.
The prices of HDB flats have nearly doubled in the last five years while the wages of Singaporeans have remained more or less stagnant during the same period of time after factoring in inflation.
Weighing in on the same issue, Deputy Prime Minister Tharman Shanmugaratnam also warned of “adverse implications” for borrowers, the property market and banks if 50-year home loans become widespread.
“Buyers may therefore believe that they are able to afford a larger or more expensive property. If this becomes widespread, it will increase the demand for properties,” DPM Tharman said.

 

[laksaboy]

Simple tip: If you have to take up debt for a loan to purchase something, you can't afford it, and it is not affordable.

 

[mscitw]

Ruinous debts to purchase a leased pigeonhole? Only Asiatic peasants are fooled by this $8 Penang Laksa.

 

[Kinana]

Khaw is right. BTO flats are affordable.

 

[hawker]

Did KBW just had a freudian slip?

I thought new HDB flats are supposed to be sold at a subsidised price? Now become priced at 'affordable' (meaning no subsidy but priced so that it can be pay back in 20/30 years' time).

 

[BuiKia]

meaning, he will never make it comfortable for you as it would then be considered cheap not affordable.

 

[Getloud]

The key words are, BTO and affordable, and the rest at inflated market rate.

 

[Fook Seng]

The key words are, BTO and affordable, and the rest at inflated market rate.

The term "affordability" gets re-defined very often over time.

 

[streetsmart73]

Khaw is right. BTO flats are affordable.

hi there


1. yo!
2. liar!

 

[po2wq]

Khaw is right. BTO flats are affordable.

ya, man! ... wen dat scumburger said hart operations cost $8 oni, dey do cost $8 oni! ... not a cent mor, not a cent less ... any1 charging u mor is ripping u off! ... u muz comprain 2 case! ...

 

[Kinana]

Any proofs that bto flats are not affordable? if they are not affordable, how come so many people apply?

 

[po2wq]

... “Buyers may therefore believe that they are able to afford a larger or more expensive property. If this becomes widespread, it will increase the demand for properties,” DPM Tharman said.

there's nutting betta dan dat! ...

dat 154th can boast further how rich sinkies r wen their shoebox price soars haier n haier ...

botak! dun u stop sinkies from being richer wif haier property prices! ...

 

[streetsmart73]

hi there



1. hahaha!
2. now, this is the donkey sarpoking the liar.

 

[Cestbon]

Tell him is time to get the key is the main problem 3 year or more.
SG should change the law Single 21 and above can buy flat. When they married can have flat ready to move in.

 

[Scrooball (clone)]

BTO flats are affordable......for couples who earn $4k and above.

 

[hawker]

Any proofs that bto flats are not affordable? if they are not affordable, how come so many people apply?

If not live where?

 

[Kinana]

If not live where?

That means can afford to buy la.

 

[hawker]

That means can afford to buy la.

Thats means BTO 'affordable' but actually the 'subsidy' is bluff one lah.

 

[Kinana]

Thats means BTO 'affordable' but actually the 'subsidy' is bluff one lah.

Then don't subsidise la

 

[hawker]

Then don't subsidise la

Was never truly subsidised in the first place.