Yesterday, I heard our parliamentary debate on affordable public housing 🏠 As our minister stated, the gov will provide more support for first-timers buyers and launch more shorter waiting time of under 3years for #newflats 🏗 In my view, the gov is doing their best to make it easier for #Singaporeans to own a flat. Kudos 🫡 However, I believe that one of the main reasons for the concern over the affordability of #publichousing could be the revised LTV reduction from 90% to 85% and to the current 80% since dec 2021 🤔 Previously, the downpay was only 10% which could be easily paid by their CPF OA and grants. In other words, there is little to no cash or savings to be touched for the downpay, aside from option money. However, they may feel the pain nowadays, which they have to dive deeper into their pockets to fork out more cash 💸 for the purchase Particularly to first-timers and young couples who may not have sufficient savings and cpf in their early career. Therefore, it maybe necessary for them to save more or to save for a longer period of time so that they have enough to cover the balance 😅 Unlike the past, just by using CPF OA plus grant given by CPF and HLE loan given by #HDB can get a BTO. It's literally like owning a property without saving any money. Where in the world can you find such a thing? 🤣 What else could be considered a privilege than to have a property of your own with little to no savings for a matrimonial home? This is in fact, a great entitlement for Singaporeans. Although our gov is aware that some Singaporeans are taking advantage of the BTO flats and selling them on their MOP to make the Windfall Gain 💰 Thus, debating to prevent further lowering of #BTOflat prices, which will result in more people wanting to buy #BTOflats for fear of missing out on the Windfall Game. So, it is important we realised and thankful 🙏 that almost every #Singaporean got to own a property before this speculative sentiment spirals out of control and we lose these privileges one day. @mndsingapore @mynicehome #bedokhomes #ronloh #MND #mynicehome #hdbflat #hdbflats #hdbbto #resalehdb #resaleflats #sghomes #homesg #singaporehome (at Singapore 新加坡) https://www.instagram.com/p/CoXeUOAptw4/?igshid=NGJjMDIxMWI=
