MYTH #2: HDB flats are affordable.
TRUTH: HDB flats are affordable only to a minority of Singaporeans and is increasingly priced out of the reach of the average worker.
In spite of the relentless rise in HDB prices lately, the government insists that HDB flats remain affordable to the masses.
Recent pronouncements by the Minister of National Development Mah Bow Tan and HDB officers in replies to concerned citizens in the Straits Times Forum have largely sticked to the official stance: that the government will not intervene in the market to bring the prices down.
Minister in the Prime Minister’s Office Lim Hwee Hua maintained that HDB flats are affordable to ordinary Singaporeans as they cost no more than 30% of their monthly pay.
HDB’s deputy director Mr Ignatius Lourdesamy wrote to the Straits Times Forum lately that HDB flats remain affordable to eligible first-time households as they use between…
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