"All over the world ... young people have to pay a lot from take-home pay in order to buy a home, whereas in Singapore that is not the case", PM Wong

[Sumimasen]

Use cpf which is our money to buy house still need to pay interest for using our cpf?!?!

Coz miw ish contradicting cpf ish supposed to set aside for retirement but they allow to use on housing...

 

[footi3]

yes pap wan sui!!!
say no to oppo!!

PAP
Oppo

 

[SmokeBomb]

My grandfather uses his take home pay to pay for his monthly mortgage..

vs

My father uses his take home pay, then later his take home pay, parked in cpf and then uses cpf to pay his monthly mortgage.

vs

i now uses my take home pay, parked inside cpf and then uses cpf to pay for my monthly mortgage.

How is that not the same across generations?

Out take home pay is still used to pay for mortgage mah…

Gong si mi??

 

[Eliwood]

You’re raising an interesting point, and it’s worth digging into how housing ownership stacks up between Germany, Switzerland, and Singapore, especially since perceptions can differ from the raw data. Let’s break it down.In Germany, homeownership is indeed more attainable than in Singapore for many, especially outside major cities. Only about 50% of Germans own their homes—one of the lowest rates in Europe—but this isn’t because it’s impossible; it’s partly cultural. Renting is a strong norm, and the rental market is well-regulated with tenant protections, keeping costs manageable (around 20-25% of income on average). In the countryside, like in Bavaria or Saxony, you can snag a decent house for €200,000-€300,000, sometimes less. In cities like Berlin or Munich, prices jump—median apartment prices hit €400,000-€600,000—but with an average net salary of €2,500-€3,000/month, saving for a 20% down payment (€40,000-€60,000) is tough but doable over a few years, especially with low-interest mortgages (historically 1-2%). The catch? Taxes like the Grunderwerbsteuer (property transfer tax, 3.5-6.5%) add a hurdle.Switzerland’s a different beast. Homeownership sits at 42%, the lowest in Europe, and it’s not just a cultural quirk—property is insanely expensive relative to income. In the countryside (say, Valais or Ticino), a house might cost 500,000-800,000 CHF, while in cities like Zurich or Geneva, you’re looking at 1-2 million CHF for a modest place. With an average salary of 6,000 CHF/month, the price-to-income ratio is brutal—often 8-10x annual earnings. You need a 20% down payment (100,000-200,000 CHF), and banks are strict about lending (your mortgage can’t exceed 33% of income). So, even well-paid folks struggle unless they inherit wealth or save aggressively. The countryside is easier than cities, but “easy” is relative—it’s still a stretch.Singapore flips the script. Over 90% of Singaporeans own homes, but most are HDB flats—government-subsidized apartments. A 3-room HDB in a non-central area might cost S$300,000-S$400,000, while private condos or landed houses start at S$1.5 million and skyrocket from there. For a young couple earning S$4,000/month combined, an HDB is within reach thanks to CPF savings and grants (down payments as low as 5-10%, or S$15,000-S$40,000). But outside the HDB system—say, in the city or for private property—it’s a bloodbath. Prices can hit 20-30x annual income, and non-citizens face extra restrictions. The countryside isn’t an option; Singapore’s a city-state with no rural sprawl.So, can Germany and Switzerland “easily” own homes compared to Singapore? In the countryside, yes—Germany especially has lower barriers (cheaper prices, bigger land supply). Switzerland’s rural areas are more affordable than its cities but still pricier than Germany’s. Singapore’s HDB makes ownership “easy” for citizens in a subsidized bubble, but beyond that, it’s far tougher than either European country due to insane private market costs and tiny land area. If you’re picturing a free-market house (not HDB), Germany’s countryside wins hands-down for affordability, followed by Switzerland’s, with Singapore trailing far behind. What’s your take—were you thinking more about private ownership or the subsidized systems?

Edmwers look down on BTOs cos cannot use it to take equity mortgage loan lol.

 

[alpha_beta]

lol oni in sinkie.land leasehold is konsidered ownershiet

notch oni dat butch oso include cost of land

n notch oni dat when lease sexpires get zilch compense

whereas in uder kunties dey truely own d property in fee simple

ie for dem to behold n deal as dey plse for all eternity

 

[icebleue]

Ya some peepur bto 9 time no get , some peepur above ceiling how ?

This are the peepur that are sacrifice ...

Tengah many balance flats…

 

[Vincentlow82]

All around the world young people can buy a car without paying a lot from their take home pay.

 

[deathan9el]

whatever they say, we just have to nod our heads & goes "ohh ahh ok .. like that"
hmmmm ..

 

[alpha_beta]

lol neh neh eber trust ani1 hu sports a perpetual condescending smirk

 

[Ethan_]

But none in the world the house cost that much. Local public housing price can buy landed elsewhere. Heck even local car price also can buy landed elsewhere.

 

[elevate]

Laolan number one!!

 

[mewmew]

here need pay 30 year mortgage whereas ppl one time can settle

 

[Sumimasen]

But none in the world the house cost that much. Local public housing price can buy landed elsewhere. Heck even local car price also can buy landed elsewhere.

If I'm not wrong some countries public housing are set aside for super low income grp only. The rest have to buy private.

 

[ribena.bing]

I refrain from saying negative things abt incumbents online coz election ish near and i sense political landscape ish fragile, but nao i habe to ask chiu all to thinks.

Is CPF designed to induce psychological disownership of the people's ownself monies?

Therefore they keeps saying "Chiu no need to come up with any cash when buying hdb" as if hdb ish free, and pple believe song song? As if they are not ownself paying for it?

Then since hdb ish machiam free they buyed the biggest they can, the bestest location they can, the highest floor they can? Which ish overconsumption and ish ever ready to sarprok the housing market?

well said

sadly most singaporeans are asleep on this

 

[white_prince]

He is correct.
Do people around the world has CPF ?
If they have it ?
Do they contribute as high as ours?

MY also have similar concept but their landed only the cost of our 3rm flat

 

[Ethan_]

If I'm not wrong some countries public housing are set aside for super low income grp only. The rest have to buy private.

In other places only minority live in public housing. The rest go for private or landed. In local, majority can only afford buy public housing, despite it being one of the world most expensive public housing. In other places people would have taken that money and go buy private. Just like how many now going over to MY buy landed. Heck even local price of a car can buy landed elsewhere. Just imagine local private can buy what elsewhere.

 

[ShinnAsuka]

Does pofma applies?

young people need to be married else they can only buy (including pricey resale) after 35 or go private. Other main cities no such restrictions.

 

[MyWill]

So which part of world can have their majority population buying homes without taking any loans? I don't see any. Are your expectation unrealistic?

U mean buying leasehold? Sorry, most part of the world buy property.

 

[Jerroldscv]

did he say our COE is now 100K for 10 years...a paper
why he never say? wah piang

 

[ceres2357]

Did he also say in other countries, people can retire at 55 and buy a car at $30,000 with unlimited years???

I thought it is because Singaporeans wants to work till 65 or as long as they can. Further, they need to change cars every 2-3 years for unknown reasons.