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Coffeeshop Chit Chat - Rising HDB price:Think about singles too</TD><TD id=msgunetc noWrap align=right>
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</NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>5:57 am </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 6) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>25838.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Dec 15, 2009
RISING FLAT PRICES
Think about singles too
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I REFER to yesterday's report, 'Flat prices will rise but still be affordable', and the letter by the Housing Board, 'Two-room flats for low-income families - singles have other options'.
It is a fact that HDB flat prices will continue to rise, but the Government promises they will be affordable. But this promise is only to young couples. What about singles?
Singles are not eligible to buy new flats and the only option is to compete with permanent residents (PRs) to buy resale flats. The $11,000 grant under the Single Singapore Citizen Scheme is not enough to cover even the current increase in prices.
If the Government is serious about 'allowing citizens to share in the fruits of growth' and making HDB flats affordable, policy changes should be in place to make it happen. Below are my suggestions:
Peg grants to a percentage of the sale price of resale flats, instead of a flat rate - such as $11,000 for singles and $30,000 for couples - since prices keep increasing. I suggest 20 per cent for singles and 40 per cent for married couples.
Build more two-room flats and allow singles to buy them.
Disallow PRs from renting out their flats or putting them up for resale. This will discourage those who have no intention of becoming Singapore citizens from buying resale flats in order to make a profit out of them and return to their home country after a few years.
Lua Eng Chuan
[email protected]
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RISING FLAT PRICES
Think about singles too
<!-- by line --><!-- end by line -->
<!-- end left side bar --><!-- story content : start -->
I REFER to yesterday's report, 'Flat prices will rise but still be affordable', and the letter by the Housing Board, 'Two-room flats for low-income families - singles have other options'.
It is a fact that HDB flat prices will continue to rise, but the Government promises they will be affordable. But this promise is only to young couples. What about singles?
Singles are not eligible to buy new flats and the only option is to compete with permanent residents (PRs) to buy resale flats. The $11,000 grant under the Single Singapore Citizen Scheme is not enough to cover even the current increase in prices.
If the Government is serious about 'allowing citizens to share in the fruits of growth' and making HDB flats affordable, policy changes should be in place to make it happen. Below are my suggestions:
Peg grants to a percentage of the sale price of resale flats, instead of a flat rate - such as $11,000 for singles and $30,000 for couples - since prices keep increasing. I suggest 20 per cent for singles and 40 per cent for married couples.
Build more two-room flats and allow singles to buy them.
Disallow PRs from renting out their flats or putting them up for resale. This will discourage those who have no intention of becoming Singapore citizens from buying resale flats in order to make a profit out of them and return to their home country after a few years.
Lua Eng Chuan
[email protected]
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