Category Archives: HDB

I THANK Mr Ng Kok Lim (’Do the criteria reflect reality?’), Mr Hoon Tze Ming (’Home affordability fails to factor in opportunity costs’) and Mr Chew Kim Cheer (’Solve key concern – soaring resale prices’) for their letters last Saturday.

As the public housing authority, HDB has two key responsibilities: to help Singaporean families set up their first home; and to ensure flat values for the 80 per cent of Singaporeans who are home owners are sustained over the long term.

To do this, HDB adopts a two-pronged approach. First, ensuring affordability for first-time home owners; second, calibrating new flat supply to meet demand.

AFFORDABILITY OF NEW FLATS IN NON-MATURE ESTATES

Affordability

THE Government provides generous housing subsidies. HDB flats are thus affordable by any measure. On average, first-time home buyers use only 17 to 29 per cent of household income for their loans, below the international benchmark of 30 per cent.

A first-time couple earning $4,000 a month buying a resale four-room flat at $300,000 will need only 25 per cent of their monthly income. Their Central Provident Fund (CPF) contributions ($920) will cover almost all of the instalment, with only $81 paid in cash. New flats are equally affordable. Continue reading →

There were a deluge of cases lately about rogue HDB contractors claiming they are appointed by HDB to carry out work in public flats which includes the changing of doors, gates and windows; installation of security systems; and repair of spalling concrete.

The bogus contractors usually target HDB estates undergoing upgrading works, said the board. HDB said it does not track the number of such complaints but at least one suspected rogue contractor has been caught by the police.

Some of the victims are elderly who easily deceived by the fraudsters producing bogus “permits” from HDB to carry out the purported work which is usually shoddily done.

They also paid over-the-market prices for the works done as they were ignorant about the market rates. Furthermore, they were led to believe that HDB-approved contracts will not con them.

How to verify the identity of HDB Contractors : Continue reading →