Tan Chuan Jin: Govt is committed to provide ‘affordable’ housing options for Singaporeans
Posted by temasektimes on March 5, 2012
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.