Dear The Real Singapore,
Today I am going to touch on a issue. HDB Pricing.
It came to my mind today we are leasing a flat from the government, say recently I went to apply for a HDB the cost that I be paying is 460k and I have to loan the full amount from the government HDB or bank. The loan period is 25 years Annually I have to pay $18400 or $1533 per month without interest.
Can the HDB sustain in a different way ? Since they will definitely earn profit of the flat from the sales of their lease to us average Singaporean.
My idea is that if the ruling government can loan to us and our family a HDB flat for 99 years why not make the loan as 99 years as well. If basing on the amount 460K under the loan of 99 years the annual amount will be $4646.46 and monthly it be $387.20 this will be a much more relieve for us average citizen.
Well if base on this amount even if the government were to charge a 3-5% interest, I think Singaporean will not complain so much..
25 years loan – $1533 per month
99 years loan – $387.20 per month
with 5%
25 years loan - $1609.65
99 years loan – $406.56
This way I think a lot of Singaporean will benefit and they will be more allowance for them to spend on their food, clothes and necessity, this will inturn boost the economic, when people spend.
JL
TRS reader