About 8 in 10 first-timers who bought resale flats in 2023 could service loans with CPF, little to no cash outlay: MND

[grevq80o]

Of course..... Little to no cash outlay. Service by CPF.

The accused interest will kill you.

From now,the acrrued interest will be so high and the property will not appreciate enuf to let u have any proceeds after u sell. All go back to CPF. Gov happy like f.

 

[grevq80o]

Maybe in another 10 years, left only toilet cleaner jobs for us only.

Maybe will have new jobs like AI robot assistant. No longer FT. Sinkies r now replaces by robots and can only do jobs to assists these robots. No more threats from ceeeca or cheena.

 

[Lchlch]

Maybe will have new jobs like AI robot assistant. No longer FT. Sinkies r now replaces by robots and can only do jobs to assists these robots. No more threats from ceeeca or cheena.

Maybe we become beggars...AI robots do our jobs n good jobs become to them...life becoming difficult.

 

[Eliwood]

Was affording a hdb an issue before LHL took over? Honest question really don't know.

I only remember everyone was taking about upgrading to Condo during GCT era.

Now somehow it's okay to have your CPF, "retirement fund" emptied out for a public housing seems like a good thing to the current incumbents. Condo seems like a farfetched concept nowadays, even owning a HDB need heavy subsidies.

So what about your golden years? I could be wrong but they are telling you to sell back remaining lease back to them for you to meet your FRS? their 如意算盤 really go ones whole round.

Create and solve the problem no one ask for.

Govt has to roll out the pioneer and merdeka package for the ppl working under LKY and GCT era. So i dun think they had it much easier either.

There r still many Sinkies buying condos, just see the new launches.

Every generation will have winners n losers... Ppl who did well earlier n not so well now will always rmb history fondly...

 

[kitsura]

Maybe in another 10 years, left only toilet cleaner jobs for us only.

Everything else taken over by AI.

 

[pwongkk]

2026 gahmen quietly raising retirement age to 64. Back then it was 62 which is already quite old. Going to be like CPF FRS soon, keep increasing and moving the goalposts.

That's why need to vote opposition in to stop all this nonsense.

Who knows by then they will bring the retire age earlier.

 

[glarerder]

Govt has to roll out the pioneer and merdeka package for the ppl working under LKY and GCT era. So i dun think they had it much easier either.

There r still many Sinkies buying condos, just see the new launches.

Every generation will have winners n losers... Ppl who did well earlier n not so well now will always rmb history fondly...

Piyush is a Singaporean too you know? Whether majority who bought the condos are new citizens or not how to find out?

 

[coldware]

Piyush is a Singaporean too you know? Whether majority who bought the condos are new citizens or not how to find out?

New Citizen of cos got the capabilities to do so because they become new citizen mainly because of their skillset/income. No surprise there. Go to new launch alot lah, I also go but doesn't mean I buy... Sometime SG really nothing to do, go there look look see see. Those buy one majority also won't be Singaporeans, if not how can 2.7mil of eligible voters, 1.5mil qualify for GST voucher?

 

[䏣炆玧示老太]

Ili Nadhirah Mansor/TODAYResale transactions with high prices continue to make up a small minority of total resale transactions, the Ministry of National Development said.

• The majority of families who bought resale flats for the first time in 2023 could pay their monthly loan instalments with CPF savings
• The Ministry of National Development said this in a written response to a parliamentary question from Member of Parliament Saktiandi Supaat
• Transactions of resale flats with high prices continue to make up a small minority of total resale transactions
• There has been no conclusive evidence so far that the Prime Location Public Housing model is driving up the resale prices of other flats in choicer locations

https://www.todayonline.com/news/8-10-resale-loan-cpf-2473486

should at least be >95% of the people can pay BTO mortgage with CPFOA alone

 

[Eliwood]

Piyush is a Singaporean too you know? Whether majority who bought the condos are new citizens or not how to find out?

Im not interested in this unlike u....

 

[luei74]

Moi started to pay moi loan with cash starting this year, don't wanna touch OA till 55

 

[glarerder]

Im not interested in this unlike u....

Then there's no need to highlight many sinkies are buying condo. As if those sinkies who are well off are born here. Of course you don't care about that either. Your aim is just highlighting sinkies in general are well off. Adding new citizens to the pool and not segregate them from the ones born here simply supports your claim.

 

[1982-1994]

up to wor.... sounds like a placard in a departmental store sale....

and 300k for 3 room resale? sounds like swing to the other end of the spectrum...

Ho Ching road loh
Those 55 years old flat

 

[platee]

All here KP HDB expensive but no cash outlay wor, as my civil serpent friends always tell me, use cpf pay means free one

 

[Eliwood]

New Citizen of cos got the capabilities to do so because they become new citizen mainly because of their skillset/income. No surprise there. Go to new launch alot lah, I also go but doesn't mean I buy... Sometime SG really nothing to do, go there look look see see. Those buy one majority also won't be Singaporeans, if not how can 2.7mil of eligible voters, 1.5mil qualify for GST voucher?

This has been reported in the news. Dun need to rely of personal feeling....

Over 80% of condos sold from May 23 to Apr 24 bought by SC.

Also, 690k of the 1.5m voters are retirees above 65. The remaining 810k voters represent the bottom 37% of SC workers....

https://www.straitstimes.com/busine...eigners-down-71-since-absd-hike-in-april-2023

 

[jeffrey745]

They get up to $190,000 resale flat grants. Just buy a 3 room flat for $300,000, the net price is $110,000. Monthly installments around $400

That's if one qualifies for the full housing grant

 

[Jeremy1]

If cannot used CPF for housing, a lot of Singaporeans will have problem paying.

Cash in hand is your $$$ but Cash in CPF is not cause you will not be able to take out till retirement age at 65.

 

[keywin]

This MND stat is very weird. To prove AFFORDABILITY of resale flats, they look at the people who could AFFORD and made the decision to purchase a resale flat. It conveniently ignores all the people who couldn't even make the purchase in the first place because they COULDN'T AFFORD.

 

[Ye_Rongtian]

What happened to the fear mongering and threads of the expensive HDB flats, expensive loans and high cash payment monthly?????? Minsters plucked the data out of thin air? EDMW experts should serve a POFMA on the minister!!!!

 

[Balian]

CPF have to cover housing, retirement and medical