Where on earth can one buy a 2 rm flat for $16k? Surely not in Singapore when housing prices are hitting the roof. A small 3 rm govt built flat in the city could cost $400k or more in the resale market. But it is true. This is the latest govt offer to singles at a net price of $16k for a 2 rm BTO flat.
Now for the details. A 2 rm BTO flat is priced at $76k, how to get it at $16k? There is a govt grant of $30k for an applicant whose income is less than $750 or is it $1125 pm. And if there is a joint application by two equally low income applicants, each will get a $30k grant or $60k in full. There you are, $76k less $60k equals $16k.
Now who are the people earning less than $750/$1125? If I am not mistaken, most cleaners and dishwashers in the hawker centres are also earning more than this, probably $800 or $900. I can only think of those who are self employed like some remisiers or part time insurance or housing agents who make a sale once a year.
Oh, I think there is another category of self employed that may qualify to buy, the tin can or cardboard collectors or karung guni collectors, not the karung guni bosses. The latter are likely to be millionaires driving Mercedes around. Oh dear, I heard some were saying that the new karung guni collectors are new citizens or PRs. Hopefully not so. Could they be considered as talents with this kind of skills?
Can people who earn less than $2000 resign and apply as unemployed? Or could they get a temporary job and ask to be paid less than $750/$1125 to qualify for the $30k grant? Can right?
Chua Chin Leng AKA Redbean
*The writer blogs at mysingaporenews.blogspot.com