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Who are eligible for the $60k "GRANT"?

makapaaa

Alfrescian (Inf)
Asset
[h=1]Minister Khaw explains the math of buying a flat on $1,000 salary[/h]
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AsiaOne
Saturday, Mar 03, 2012
SINGAPORE - Deputy Prime Minister and Finance Minister Tharman Shanmugeratnam caused a stir on Thursday during the Budget debate, after he commented that 98 per cent of Singaporeans below the age of 35 earn at least $1,000 and are able to buy HDB flats.

Mr Tharman was rebutting a claim by Workers' Party NCMP Gerald Giam that many younger Singaporeans from lower-income households will find it difficult to afford a house, reported The Straits Times.
On Friday, it was National Development Minister Khaw Boon Wan's turn to explain the maths, admitting that the comment startled many, "precisely because it sounded so incredible".

Mr Tharman had told Mr Giam in his speech on Thursday to "catch up" with policies already introduced to help Singaporeans own their own homes.
He said: "So I would like to assure Mr Gerald Giam, who might not have caught up with all the developments... that a family with $1,000 income can now, through our housing subsidies, purchase a small flat."

According to media sources, his comments sparked intense debate online.

Mr Khaw pointed out during Friday's Budget debate that Mr Tharman was referring to a two-room flat, which has a subsidised price of about $100,000, if the applicant is a first-timer.

He will also be entitled to housing grants of up to $60,000.

=> Care to explain the criteria for getting this $60k. Note the "up to" fine print.

"DPM was referring to a two-room HDB flat, which we started building in 2006. The subsidised BTO price for such a unit in a recent launch is about $100,000," said Mr Khaw.

"So the net selling price to him is about $40,000, and the monthly mortgage payment of such a HDB loan can be fully covered from his Central Provident Fund contribution."

He added that most two-room applicants earn above that income ceiling, highlighting that their median income based on recent BTO (build-to-order) launches is at about $1,400.

[email protected]
http://www.asiaone.com/News/Latest+News/Singapore/Story/A1Story20120303-331368.html
 

Bigfuck

Alfrescian (Inf)
Asset
Keep up the good work, I have to catch my ride to another place to deal with first world people in world. Good luck dealing with third world scums who cannot hold their ground outside Singapore. BTW, I have met quite a few ex-PAPies who though that they could be Fu Manchus overseas. Guess the rude awakening they had and the only thing they could fall back on was the taxpayers' money taken to console them.
 

Fook Seng

Alfrescian (Inf)
Asset
Confuseous said:
No, you have to be unemployed for one year.

If he is unemployed for one year, buying a 100k house will not be his first priority. You are sure you need to be suay for one year in order to be qualified to be so lucky to get that $60k subsidy? What happens if during the next 30 years, his income jumps 5 times to $5000? No wonder Singapore is such a good place to build casinos.
 

Raiders

Alfrescian (InfP) + Mod
Generous Asset
Why is it that my country citizens has to come to a stage whereby they have to argue whether $1000 is enough to buy a miserable 2 room flat whereas foreigners are laughing their way to the bank by taking free scholarships, buying our HDBS and renting them out and retiring in their home countries.
 

Jlokta

Alfrescian (InfP)
Generous Asset
Why is it that my country citizens has to come to a stage whereby they have to argue whether $1000 is enough to buy a miserable 2 room flat whereas foreigners are laughing their way to the bank by taking free scholarships, buying our HDBS and renting them out and retiring in their home countries.

power!! i like your reply :biggrin:
 

wuqi256

Moderator - JB Section
Loyal
Why is it that my country citizens has to come to a stage whereby they have to argue whether $1000 is enough to buy a miserable 2 room flat whereas foreigners are laughing their way to the bank by taking free scholarships, buying our HDBS and renting them out and retiring in their home countries.

Need to wait a while before upping your points again.
 

halsey02

Alfrescian (Inf)
Asset
Why is it that my country citizens has to come to a stage whereby they have to argue whether $1000 is enough to buy a miserable 2 room flat whereas foreigners are laughing their way to the bank by taking free scholarships, buying our HDBS and renting them out and retiring in their home countries.

That is the same reason why the 60% voted for people, who brought them from 1st world to 3rd word, while their 3rd world breathen is now living 1st world standard, eating Swiss Chocolates & throwing the wrappers for our '3rd world' 60% to lick,who will say "good".

Maybe the 60% are 'daydrem believers':p
 

powerhouse

Alfrescian
Loyal
Why is it that my country citizens has to come to a stage whereby they have to argue whether $1000 is enough to buy a miserable 2 room flat whereas foreigners are laughing their way to the bank by taking free scholarships, buying our HDBS and renting them out and retiring in their home countries.

super post..clap clap
 
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