Tag Archives: COV

Are homes affordable?

Posted on 27 Sep 2009 | Comments Off on Are homes affordable?

About a year ago, in a special report, I waded into the debate over the affordability of public flats.
The prices of Pinnacle@Duxton’s five-room units, which hit $645,000, sparked the debate on the affordability of Singapore’s public flats. — ST PHOTO: CHEW SENG KIM

The issue had been sparked by the relaunch of Pinnacle @ Duxton last September. With prices of its five-room units reaching $645,000, the Pinnacle has become Singapore’s costliest public housing project.

At that time as well, condo-style flats under the HDB’s Design, Build, and Sell Scheme (DBSS) were going for over $700,000 for the bigger units.

Indignant home buyers flooded The Straits Times Forum with letters on what they saw as an ‘upwards price spiral’ of HDB flats. Netizens also weighed in. Continue reading →

Comments Off on Are homes affordable?

Posted in HDB

Tagged , , , , , , , , , ,

Married, but no place of their own

Posted on 20 Sep 2009 | Comments Off on Married, but no place of their own

Mr Jayce Ng and his wife Jacelyn, both 30, live in separate homes as they wait for an affordable flat. — ST PHOTO: ALPHONSUS CHERN

Each time after a movie or dinner date, married couple Jayce Ng and Jacelyn Yong return to separate homes.

He goes to his parents’ apartment in Hume Avenue and she to Hougang.

The couple, who are both 30 and registered their marriage last year, have yet to find a home to call their own, priced out by the current property rally.

‘I recently received a text message from an agent, who gave a listing of 10 Bukit Panjang flats, all asking for cash over valuation (COV) of between $40,000 and $50,000,’ said Mr Ng, a process analyst. ‘But we just can’t fork out the cash.’ Continue reading →

Comments Off on Married, but no place of their own

Posted in HDB

Tagged , , , , ,