The National Development Minister Khaw mooted the points of raising income ceiling for buyers of HDB flats, especially those DBSS, higher!
Is this a GOOD move? Also the possible restriction of HDB buyers buying 'retirement studio' and '2-room flat' of certain age due to the concern that the buyers may be without a HDB flat should they live past 75 years old!
Lessons for me are;
1. is HDB flat STILL the IDEAL home for young couples heeding the nation's call to get married and have 3 kids so as to boost the national fertility rate not withstanding the high cost of living and the high cost of HDB flats?
Well, the fact that the government consistently maintains that 'you can own a 1-room HDB flat even if you are raising a family with just S$1k/month of income', HDB flat SHOULD be available to any couple starting up a family!
So, I wonder WHY the need to raise the Income Ceiling again!!??
Is it due to the HDB flat prices have GONE UP to a level where even a combine income of S$10k/month is no longer enough to pay for a 'normal' DBSS flat from HDB?
IF so, the young couples in Singapore can start despairing!!
I hope NOT!!
2. The restriction of buyers from buying 'too short a leasehold HDB flat' basically say that: If you don't have a HDB flat to your name when you hit 75-year old, your retirement funding will be DOOMED!
This means Singapore is probably overly reliance on 'a HDB flat' to fund one's retirement! What happened IF the property prices at the person's retirement date HIT a 'unusual depression or crash'? Or it has to be taken back by the government as the lease period had expired?
3. HDB flat can only provide you with the fund for retirement IF it still has many more years of lease to go AND the then market price is a lot higher than your original cost of purchase PLUS mortgage interests paid! Otherwise, when you sell the flat, you just get some 'enforced saving' by recouping your principal payment plus cumulative interests paid to-date!
Is this a GOOD move? Also the possible restriction of HDB buyers buying 'retirement studio' and '2-room flat' of certain age due to the concern that the buyers may be without a HDB flat should they live past 75 years old!
Lessons for me are;
1. is HDB flat STILL the IDEAL home for young couples heeding the nation's call to get married and have 3 kids so as to boost the national fertility rate not withstanding the high cost of living and the high cost of HDB flats?
Well, the fact that the government consistently maintains that 'you can own a 1-room HDB flat even if you are raising a family with just S$1k/month of income', HDB flat SHOULD be available to any couple starting up a family!
So, I wonder WHY the need to raise the Income Ceiling again!!??
Is it due to the HDB flat prices have GONE UP to a level where even a combine income of S$10k/month is no longer enough to pay for a 'normal' DBSS flat from HDB?
IF so, the young couples in Singapore can start despairing!!
I hope NOT!!
2. The restriction of buyers from buying 'too short a leasehold HDB flat' basically say that: If you don't have a HDB flat to your name when you hit 75-year old, your retirement funding will be DOOMED!
This means Singapore is probably overly reliance on 'a HDB flat' to fund one's retirement! What happened IF the property prices at the person's retirement date HIT a 'unusual depression or crash'? Or it has to be taken back by the government as the lease period had expired?
3. HDB flat can only provide you with the fund for retirement IF it still has many more years of lease to go AND the then market price is a lot higher than your original cost of purchase PLUS mortgage interests paid! Otherwise, when you sell the flat, you just get some 'enforced saving' by recouping your principal payment plus cumulative interests paid to-date!
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