HDB BTO Prices From $112k to $532K
New HDB BTO flats costing about half a million dollars. Ya lah, prime location and better finishes but can average Singaporeans afford or not?
Experts advice that mortgage loans should take up less than 35% of our income, so we must do our own calculations and be prudent with our finances.
The original public housing aim is to let all Singaporeans own a home (we entrench our roots here and have a stake in Singapore's future). But at the rate HDB flat prices are rising, Singaporeans may not be able to afford one.
Not every household earn the ceiling of $8000 ok. If salaries move in tandem with rise in HDB flats, then the government will say Singaporeans not productive or competitive enough. Pay cut, pay freeze, CPF rate cut will follow.
It is also a myth that Singaporeans have become more affluent because their HDB flats are appreciating. If you sell your house, you got to buy another one at inflated prices too. And it will possibly be a smaller size and in suburban areas.
[CNA ]
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