A deluge of letters were published in the Straits Times forum today protesting against rising prices of HDB flats and imploring HDB to do something to solve the problem!
Despite repeated reassurances from the government that HDB flats remain affordable, the latest coming from National Development Minister Mah Bow Tan, many Singaporeans apparently are not convinced by their arguments.
The writers expressed their disagreement and dissatisfaction with the official response from HDB penned by its Deputy Director Mr Ignatius Lourdesamy who wrote that “HDB flats remain affordable to eligible first-time households as they use between 21 to 25 per cent of their monthly income to service their loans on new and resale HDB flats which are well below the international affordability benchmark of 30 per cent. “(read letter here)
Ng Kok Lim questioned if it is realistic for the market value of flats to be determined by professional valuers. (read letter here)
He wrote:
“Valuers base their valuations on recent transactions, which is as good as being determined by ‘willing buyer, willing seller’, with all its associated problems I have described. Continue reading
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