- Joined
- Jul 10, 2008
- Messages
- 985
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'I am an HDB buyer who just so unluckily decided to enter the Singapore housing market at this most inappropriate time.
To become an eligible home buyer, my wife and I got engaged last December so that we could get our dream house. As we are both permanent residents (PRs), we are not eligible to buy direct from HDB. We can only look as the prices of resale HDB flats go higher and higher during this so-called recession period. We expected property prices to go lower at the beginning of the year, but we are disappointed that it had turned out to be the opposite.
We do not have much in CPF savings as we became PRs only one year ago. Therefore, we will need to prepare a big amount of cash for the down payment. We have started losing our confidence in getting a house, for even with a big loan from any bank, we still cannot get a house due to high cash over valuation.
We are feeling helpless in trying to own a small pigeon hole in this red dot.
I am writing in not to grumble about what I am facing. I just want to ask if the Government can do something for young couples like us to own a house in an easier way.'
E-mail from Mr Chong Teik Seng
To become an eligible home buyer, my wife and I got engaged last December so that we could get our dream house. As we are both permanent residents (PRs), we are not eligible to buy direct from HDB. We can only look as the prices of resale HDB flats go higher and higher during this so-called recession period. We expected property prices to go lower at the beginning of the year, but we are disappointed that it had turned out to be the opposite.
We do not have much in CPF savings as we became PRs only one year ago. Therefore, we will need to prepare a big amount of cash for the down payment. We have started losing our confidence in getting a house, for even with a big loan from any bank, we still cannot get a house due to high cash over valuation.
We are feeling helpless in trying to own a small pigeon hole in this red dot.
I am writing in not to grumble about what I am facing. I just want to ask if the Government can do something for young couples like us to own a house in an easier way.'
E-mail from Mr Chong Teik Seng