Tag Archives: Housing Development Board

HDB flats affordable, says Mah

Posted on 15 Sep 2009 | Comments Off on HDB flats affordable, says Mah

Eight in 10 Singaporean households qualify for the various housing grants the Government gives to flat buyers, even those who buy resale flats.

AMID concerns about escalating prices of resale flats, National Development Minister Mah Bow Tan yesterday assured Singaporeans that HDB flats remain affordable to most.

He said first-time households use on average less than 30 per cent of their household income to service their housing loans, which is within the yardstick the Government uses to measure affordability.

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Also, eight in 10 Singaporean households qualify for the various housing grants the Government gives to flat buyers, even those who buy resale flats.

He was responding to four MPs who queried the affordability of HDB flats, including Ms Jessica Tan (East Coast GRC), who was worried that young couples could not qualify for housing grants. She wanted the $8,000 income ceiling to qualify for a new HDB flat or to be eligible for a grant to buy a resale flat to be raised.

Mr Mah rejected the request, saying, ‘There must be a limit to the number who can qualify.’ Continue reading →

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HDB caters to 8 out of 10 S’poreans to suit different budgets & needs

Posted on 14 Sep 2009 | Comments Off on HDB caters to 8 out of 10 S’poreans to suit different budgets & needs

The topic of the affordability of HDB flats was raised in Parliament on Monday during question time. In his reply, National Development Minister Mah Bow Tan has again emphasised that they remained affordable.

He explained the public housing body caters to eight out of ten Singaporeans earning from S$1,500 a month to S$8,000 a month with different types of flats, needs and tastes.

And the HDB is putting up Executive Condominium sites for sale in the confirmed list next year to offer more housing choices for the higher income group.

However, Members of Parliament said the affordability of HDB flats is an issue of concern among their residents.

Jessica Tan, GPC Chair, Finance and Trade and Industry and MP for East Coast GRC, said: “We know resale flats are rising in prices. How can HDB help to ensure that it stays affordable especially for the young couples who are looking to own their first flats.”

Mr Mah explained that affordability is about the price of the flat and the income levels of the families concerned. Also the type of flat they can buy would depend on ability to service the loan. Continue reading →

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