Singaporeans need to be prudent: Khaw
-
SINGAPORE: National Development Minister Khaw Boon Wan said given the existing financial climate, Singaporeans need to be prudent.
In buying houses, for an example, he said Singaporeans should buy within their means.
He made these points at the National Day Observance Ceremony in Sembawang GRC.
Singaporeans, especially second-time flat buyers, can count on the government to address their concerns.
Mr Khaw said he's quite happy with progress made over the past one year.
He said first-time home buyers are now able to apply for a Build-to-Order (BTO) flat in a non-mature estate with relative ease.
"So now this year, I'll be focusing on second-time (home buyers) and improve their chances. So the recent BTO, I'm looking at the subscription rates day by day and it's quite healthy, but we will press on to build more to satisfy Singaporeans' demand to catch up on the deficit in the last few years," he explained.
He also stressed that Singaporeans should be realistic about their financial means.
"There're now some gimmicks coming along, some banks offering 50 years' (loan) so please don't fall for that. It doesn't make sense.
"If you want to immediately come out from school and want to get a five-room flat and think that a 50-year loan will help you achieve that, I don't think that is very wise."
And Mr Khaw said it's a "good sign" that only very few people have opted for the 50-year loan.
"So I've been checking how many people take up this 50-year loan; as far as I gather, the number is very few, which I think is a good sign."
Mr Khaw points out that Singaporeans should be realistic about their financial means.
"If your salary allows you to buy a three-room flat, buy a three-room flat. In 10 years' time, if you continue to work hard, I'm sure your salary will grow, and then you can upgrade.
"Then by that time if Singapore economy is doing well, your three-room flat will fetch a better price, so with the improvement in the price of your three-room (flat) you can then upgrade."
In conjunction with the National Day Observance Ceremony, Mr Khaw also launched a new resident patrol week in the constituency.
The programme will have more than 230 volunteers spreading fire safety messages for a week, starting 1 to 9 August, every year.
Sembawang GRC has one of the highest rates of public residential fires.
But with efforts targeting the problem, the numbers have slipped to 74 - from 80 in the previous quarter.
On a national scale, more than 800 public residential fires were reported from January to March this year.
This is about 60 cases more than last quarter.
- CNA/ck -
The shortage and miscalculation- not Khaw's fault. The problem arose mainly because lack of co-ordination between left and right hand between IAS and HDB-during the tenure of his predecessor!. The guy kept telling Singaporeans there was enough to go around ...but didn't build enough! So back logged now- simple as that! Khaw is a good fella. Yes be prudent! don't hang a "concrete albatross" around your neck and lose your mobility to move if you need to. ...don't buy when prices are ridiculous! In HK the government will not advise you when to buy or to be prudent, you see you think you wanna buy, that's your personal problem...nothing to do with the government."
-
Prudent - Acting with or showing care and thought for the future.
Can we be prudent with buying expensive foldable bikes and expanding unnecessary ministry incurring extra cost ?
-
banks offering 50 years loan for first time buyer, government shld intervene, the clause shld stick to affordability of max 30 years and also depending on age. 50 years loan means that if a couple loan 50 years at the age of 35 years old, if either couple died at the age of 70 years old or lesser, the reminder loan need not have to be paid, dont think banks wanted this, unless they the interests is calculated in their favor in the first 15-20 years. If without this guarantee, the other couple would have to pay the remainder loan. So, first time buyer shld obtain loan in prudence. HDB loan shld not have a lifespan of 50 years.
-
dear mr "$8 bypass"
the fact that banks are offering 50 year loans for the goddamned "public housing" should tell you something...
if you cannot figure it out, you fucking don't deserve a single cent of your million dollar wage
-
pple shld not live under figuring out, either sg be handed over to others prudent pple or foreigners or in custody of super power to ensure good favourable life to sustain. In this way, all million dollar wage collectors are saved, and these saved monies can be used for beneficial matters, hopefully.
