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Tan Chuan Jin: Govt is committed to provide ‘affordable’ housing options for Singaporeans

Posted by temasektimes on March 5, 2012

The government is fully committed to providing affordable public housing options for Singaporeans, said Minister of State for National Development BG Tan Chuan Jin.

Speaking to reporters on the sidelines of a community event yesterday, BG Tan said his ministry tracks “very closely” the incomes of Singaporeans, to make sure that flats are priced and subsidised so they’re affordable at different income levels.

“What we are indicating basically is that even for a person earning S$1,000 of income, with the grants available, the special housing grant and the additional housing grant, which amounts to S$60,000 dollars, for some people earning that level of income, it might be viable for them to actually own a flat,” he said.

This is the second time BG Tan has weighed in on the controversy sparked by Deputy Prime Minister Tharman’s earlier remarks in parliament that Singaporeans with a household income of $1,000 monthly are able to afford a HDB flat.

“And that is something we know, because we actually have people who’ve bought flats earning that level of income. So it’s actually curious to read the comments and how other issues are brought in,” he added.

BG Tan also took pains to emphasize on the fact that Singaporeans are able to monetize their HDB flats later on in life:

“How much they need to put in in terms of outlay and to work out something that we think it’s viable. And many Singaporeans own their own homes. And again at a later stage in life, if you need to, the house is also an asset you can monetise. That’s something we are fully committed to providing people even in the future.”

More than 80 percent of Singaporeans live in HDB flats built by the government. Singapore has one of the highest home ownership rates in the world.

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6 Responses to “Tan Chuan Jin: Govt is committed to provide ‘affordable’ housing options for Singaporeans”

  1. Helen Chew said

    And many Singaporeans own their own homes. And again at a later stage in life, if you need to, the house is also an asset you can monetise. That’s something we are fully committed to providing people even in the future.” – TCJ

    If he is talking about the studio aparment or 2 room flat is a lease for 30 years, how to monetise when one of the condition is to return HBD when you don’t wish to own one. I think he is quite irresponsible to put up false claims to deceive. Maybe he is too busy to look into the fine prints and keep on affirming, this is the second time he is affrming?

  2. Cora De Conceicao said

    What about older folks who want to maintain their independence to live alone but do not earn an income. Family can support but rents are becoming highly prohibitive.

  3. daming said

    When they came up with this policy, did they ever thought about how that household is going to live? Everyone knows that with a 1+k pay, you can buy a LV bag too. Does it make sense to buy it at all? By their calculations, what will happen if the breadwinner of the household loses his job? He’s gonna lose his house, and family too? What happens if he gets sick, or caught up in an accident?

    The problem with current housing in Singapore isn’t all about affordability, it’s the entire life in Singapore, the affordability of living in Singapore. How many can survive an illness, an accident, especially when they are trying to buy a house?

  4. Why do we in the First World Country, do have this kind of calibre kind of Minister. Simply just do not want to accept the TRUTH FACTS.

  5. ken lee said

    agree with you! did gov even think of this?

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