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04-06-14, 15:59
http://www.straitstimes.com/archive/thursday/premium/top-the-news/story/pledge-keep-flats-affordable-all-20140529
HOUSING
Pledge to keep flats affordable for all
Published on May 29, 2014 1:40 AM
By Janice Heng
HOUSING will remain affordable for Singaporeans, Prime Minister Lee Hsien Loong pledged yesterday, as he gave a recap of the progress made on that hot-button issue since 2011.
In the last three years, 52,000 flats have been built, the equivalent of two Clementi new towns.
The amount of subsidies given out for flats has almost doubled.
"And the situation is now under control, as many MPs have acknowledged," he said. To applause from the House, he praised the good job done by National Development Minister Khaw Boon Wan, the ministry and HDB.
But Singaporeans are still focused on housing, PM Lee noted.
On May Day, he met unionists from the pioneer generation, aged 65 or older, who reminisced about buying three-room flats for just $6,800 on a salary of $300. Rising flat values means they now have "sizeable nest eggs in retirement". Yet their children still worried about housing prices. "So I explained what I have explained so many times before - how we are keeping flats affordable for their children's generation as well."
Home ownership is not just about providing shelter, but giving everyone a stake in the country and boosting the assets of lower-income Singaporeans, he said.
That is why there are generous grants. For a household with a $1,000 monthly income, these can amount to two-thirds the value of a two-room flat.
Mr Lee said he explained this to the unionists, then asked if their children had houses. They did. Were these affordable? The answer: "Well, they've all afforded it. But still, you know, lah."
This is why the Government has to "continue to explain... and to make people understand how unique and special this position is", he said. "Where for $1,000 income, you can start to buy an HDB flat and have a substantial nest egg for your retirement, with the help of this Government."
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HOUSING
Pledge to keep flats affordable for all
Published on May 29, 2014 1:40 AM
By Janice Heng
HOUSING will remain affordable for Singaporeans, Prime Minister Lee Hsien Loong pledged yesterday, as he gave a recap of the progress made on that hot-button issue since 2011.
In the last three years, 52,000 flats have been built, the equivalent of two Clementi new towns.
The amount of subsidies given out for flats has almost doubled.
"And the situation is now under control, as many MPs have acknowledged," he said. To applause from the House, he praised the good job done by National Development Minister Khaw Boon Wan, the ministry and HDB.
But Singaporeans are still focused on housing, PM Lee noted.
On May Day, he met unionists from the pioneer generation, aged 65 or older, who reminisced about buying three-room flats for just $6,800 on a salary of $300. Rising flat values means they now have "sizeable nest eggs in retirement". Yet their children still worried about housing prices. "So I explained what I have explained so many times before - how we are keeping flats affordable for their children's generation as well."
Home ownership is not just about providing shelter, but giving everyone a stake in the country and boosting the assets of lower-income Singaporeans, he said.
That is why there are generous grants. For a household with a $1,000 monthly income, these can amount to two-thirds the value of a two-room flat.
Mr Lee said he explained this to the unionists, then asked if their children had houses. They did. Were these affordable? The answer: "Well, they've all afforded it. But still, you know, lah."
This is why the Government has to "continue to explain... and to make people understand how unique and special this position is", he said. "Where for $1,000 income, you can start to buy an HDB flat and have a substantial nest egg for your retirement, with the help of this Government."
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