Prices of HDB Flats

Some comments in the survey

1. HDB Flat used to be financed by one breadwinner with 20 years loan period in the past, but now it is financed by double-income family yet stretched to 30 years, this is a reflection of un-affordability in price.

2. Most young (<30 years old) are willing to spend more on repayment because they think that their salaries will increase and with more income in future, the repayment % will go down> They are not aware that the 23% that goes into the cpf OA when they are fresh out of school will be reduced to 19% when they are 35 and even lesser as they grow older. Even under a 5% yearly salary increment without hitting the 4k cpf cap, the 5% increment cannot cover the drop in 4% to the cpf OA.

3. I hope that HDB does not act like a private company like Capitland. If so, then it should be listed like a REIT in SGX.

4. I think prices should reflect the national income level and should not be subject to speculation or COV. Because HDB monopolises the public housing market, their priority should be to ensure prices remain within the means of the average Singaporean. HDB housing should also only be made available to Singapore citizens and not permanent residents. It is highly unfair for permanent residents to be entitled to buy a HDB flat and later on sell for a profit when there is no 100% guarantee that they intend to live in the country until the day they croak. If the government sincerely believe that Singaporeans are their priority - this is the key area they need to seriously look into or make proper adjustments before it's too late.