I will make sure that every Singaporean family who’s working can afford a HDB flat : PM Lee ( Singapore National Day Rally)

‪#‎ndrsg‬

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‪#‎ndrsg‬  Extending Special Housing Grant. Assuring all can afford a right size BTO flat within 25yrs using mostly only CPF.

$1000/month will afford 2rm flat
$2000/month will afford 3rm flat
$4000/month will afford 4rm flat

Example:
Monthly household income $2000 buying a
Typical 3-room BTO Price: $170K
less $45K grant
less new extra grant $10K
less new NSmen award $4K
Price after grants: $111K.

Payment
25 years Mortgage, $427 per month, all from CPF.

Household income of $4000 buying:
typical 4-room BTO priced $285K
less $15K grant
less new extra grant $20K
less new NSmen award $4K
Price after grant: $246K.

Payment
25 years mortgage, $987 per month,
repayment using CPF $920, cash repayment $67.

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‪#‎ndrsg‬   Swee La, photo from a less uptight People’s Action Party fb page 

Good news for middle-income flat buyers. The government is giving up to $20k more in grants if they buy a four-room flat. More details to follow.

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