750 bought first flats during new launches last year, a quarter more than in 2013
By Yeo Sam Jo, The Sunday Times, 22 Feb 2015
By Yeo Sam Jo, The Sunday Times, 22 Feb 2015
Last year, 750 of them bought their first homes during new flat launches, said the HDB. This was a quarter more than the 600 the year before. In 2012, the number was 530.
Since 2011, about 2,500 tenants have managed to afford a place of their own.
Under the HDB's Public Rental Scheme, needy families with a household income under $1,500 are provided with rental flats at highly subsidised rates.
Rentals for one- and two-room flats start at $26 and $44 a month, respectively, with each tenancy lasting for two years.
After the lease ends, the HDB reviews whether it should be renewed. Tenants who are financially stable are encouraged to consider buying a flat.
Eligible tenants can get government housing grants of up to $60,000 when buying their first HDB flat.
They can also get help under the Tenants Priority Scheme, which sets aside 10 per cent of the new two- and three-room flat supply quota for them.
Mr Muhammad Faizal Johari, 27, recently made the switch from being under the Public Rental Scheme to owning a flat.
The father of three boys, who runs a catering business, and his wife had been renting a one-room flat at York Hill in Outram for seven years.
The father of three boys, who runs a catering business, and his wife had been renting a one-room flat at York Hill in Outram for seven years.
"There was no space for us at my parents' home, and at that point (seven years ago), we couldn't afford a flat," said Mr Muhammad Faizal.
As the sole breadwinner, he used to take home between $800 and $1,100 a month working odd jobs.
But he eventually started the catering business with his parents and saved up enough to apply for a four-room Build-To-Order (BTO) flat in 2010.
The Bukit Panjang unit, which he and his family moved into last December, cost $248,000, after a $10,000 housing grant from the HDB. "I really wanted a property for my sons so they will have a place to call their own," he said.
There are now about 50,000 rental units in Singapore, or about 5 per cent of the total stock of 960,000 flats.
Waitress Tay Lian Eng, 50, bought and moved into a two- room BTO unit in Bukit Panjang last year.
She had previously rented a one-room flat in Bukit Merah for about 20 years.
"It has always been my wish to buy my own flat," said Ms Tay, who lives with her 24-year-old daughter.
"When I'm gone, at least my daughter will have a place over her head. I will be less worried."
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