Govt will provide affordable housing options: Tan Chuan Jin

The government is fully committed to providing affordable public housing options for Singaporeans.

And extra grants are offered to the lower-income group to help them rent, buy their own home or monetise their flat in future.

Minister of State for National Development, Tan Chuan Jin said the ministry tracks “very closely” the incomes of Singaporeans, to make sure that flats are priced and subsidised so they’re affordable at different income levels.

Mr Tan said: “What we are indicating basically is that even for a person earning S$1,000 of income, with the grants available, the special housing grant and the additional housing grant, which amounts to S$60,000 dollars, for some people earning that level of income, it might be viable for them to actually own a flat.

“And that is something we know, because we actually have people who’ve bought flats earning that level of income.

“So it’s actually curious to read the comments and how other issues are brought in.

“But I think (what’s) important, the options are available, the question we could ask is would we be happier if we don’t provide those options?

“And then we make sure that based on real returns, that’s not just on paper, we look at the incomes they’re earning – people who are applying for flats.

“We make sure they’re in our means, in terms of taking the various loans, whether it’s a 20-year loan or a 25-year loan and so on.

“How much they need to put in in terms of outlay and to work out something that we think it’s viable. And many Singaporeans own their own homes.

“And again at a later stage in life, if you need to, the house is also an asset you can monetise. That’s something we are fully committed to providing people even in the future.”

Mr Tan was speaking to reporters at a community event organised by the Muslim Society at the National University of Singapore.

He joined more than 100 undergraduates and youth volunteers and elderly, in a Walk and Wheel-a-thon to raise funds for the Muhammadiyah Health & Day Care Centre.

Mr Tan also stressed the importance of active ageing and shared that there are many activities in place to help the elderly in Marine Parade GRC.

Source : Channel NewsAsia – 4 Mar 2012

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