Recently,
National Development Minister Lawrence Wong made announcements on the sale of
the Built-To-Order (BTO) flats.
The
minister noted that the BTO launch in November has seen a good response due to
the demand for such flats. He added with changes in the public housing
policy, the raising of the income ceilings allowed for more people to qualify
for BTO flats, as well as enhanced grants. With the government’s effort to
encourage more Singaporeans to get married, this is a healthy step as having a
roof over one’s head is always a top priority for those who want to start a
family.
But,
despite the grants, the sale of public housing has soared. How many
couples fresh into the workforce will be able to meet the cost of their HDB
flats – be it BTO or resale flats.
For
example, my 3-room flat in Ang Mo Kio which my late wife and I purchased 30
years ago cost only $18,200. Now this same flat can so easily be sold for
more than $300,000. And with the MRT system being built some 400 metres
from my block, it likely that the flats in my area will fetch an even higher
price. The location is good, the rooms are spacious and with the Home
Improvement Programme (HIP) just completed, there are people wanting to buy our
homes. Many property agents are seizing on the HIP and are often placing
their flyers on our gates when they are unable to do so with the secured
letters boxes which prevent junk mail from getting in.
With the
sale of property in popular areas in big demand that fetches top dollar, many
homeowners are now doing away with the hiring of property agents and are taking
the initiative to sell their homes by themselves. Normally, a property agent
will take an attractive percentage from the sale of the home, with bungalows
and condos reaping in larger commissions. With this move, a
sufficient number of property agents who are dependent on property sales to earn
a living are likely to find it hard to put food on their table.
There is
talk that to prevent homeowners from profiteering, it is just a matter of time
before the HDB acts to prevent owners in making a quick buck. People are
worried sick that if they lose their jobs, they will be in dire straits so this
could be one reason why they take this route.
In yet
another scenario, those who purchased condos or bigger HDB flats in prime areas
may have had the means to do so in the past when they had a well-paying job or with
dual incomes in the family. But what happens when they are retrenched or have
lost their jobs due to restructuring?
When such
residents approach their Member of Parliament (MP), they will be asked to
downgrade. Personally, I am of the view that financial assistance could be
offered by the MP to those who have lost their jobs rather than asking owners
to sell their property because noise pollution becomes a real problem in us
having to live in a healthy and peaceful environment. Moreover relocating can
be very stressful for those who are suddenly out of work. Why the need to add
more stress to families who are struggling to make ends meet?
To this
end, it is important for the HDB to strike the right balance taking into
consideration the factors on the sale of property, for although there will
always be people who want to profit from property, there will also be those who
have little or no choice but to sell their property to survive.
Raymond Anthony
Fernando
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