HDB flats still very affordable

Posted by goldenpeace on 10-Feb-2009
IN MS Linda Pang’s letter last Wednesday, she asked the Housing Board to review the selling price of its flats.
The half-million-dollar flats she mentioned are new flats located in the mature towns. In view of their prime locations, they command relatively higher prices. Nonetheless, these flats are sold at subsidised prices, compared to equivalent resale flats in these prime areas.
We agree with Ms Pang that Singaporeans should exercise prudence and make sure they buy a flat within their means. HDB offers a variety of flats with a range of prices, locations, sizes and attributes to cater to the different needs, preferences and budgets of flat buyers.
For example, in the recent Build-to-Order launches in December last year in Yishun, Choa Chu Kang and Punggol, the prices of flats ranged between $76,000 and $90,000 for two-room flats, $120,000 and $148,000 for three-room flats, and $197,000 and $316,000 for four-room flats.
Based on these selling prices, most households can service their mortgage loans entirely from their CPF contributions. They do not need to fork out cash for their monthly housing loans. This is very affordable by any standards. Flat buyers thus have ample choice of affordable flats.
We thank Ms Pang for her feedback.
Ignatius LourdesamyDeputy Director, Marketing & ProjectsHousing & Development Board
Source : Straits Times - 10 Feb 2009