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Applicant of HDB’s 2-room flexi-flat scheme shocked at the price of 40-year lease flat

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Facebook user Freddy Chia in responding to the article ‘HDB Fresh Start Housing: No prices?‘ said that he was shocked that a 2-room flexi-flat in Bedok South with a 40-year lease cost over $100,000.
2Writer Leong Sze Hian had questioned in the article why no prices were indicated in HDB’s new Fresh Start Housing scheme.

New HDB Fresh Start Housing

Mr leong said that when he watched the Channel NewsAsia news clip (2 minutes and 13 seconds) on the new HDB Fresh Start Housing scheme – he was left with an obvious question about why the news clip didn’t say anything about the indicative prices of such HDB flats?

No prices in the media?

The newspapers articles also did not mention the obvious and arguably the most important piece of information about this new scheme – what are the indicative prices?

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Only available to needy HDB rentees?

According to the article – “Applications to be on the Fresh Start Housing Scheme are now open for families who once owned a flat but now live in public rental units.

The scheme allows the families, who must have at least a child below the age of 16, to apply for a new Housing Board flat with a grant of up to $35,000, the Ministry of National Development and HDB announced in a statement yesterday.

After getting on the scheme, families have a year to apply for a new flat in the HDB’s regular Build-To-Order or Sale of Balance Flats launches.

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The scheme has several conditions. For instance, at least one of the applicants must have been in stable employment for the previous 12 months. The family must also be assessed by the Ministry of Social and Family Development (MSF). The MSF and HDB will do regular checks to ensure the families are on track.

The scheme helps by letting them buy a two-room flexi flat on a shorter lease and giving them another HDB concessionary rate loan and a new Fresh Start Housing Grant of up to $35,000.

Minister for National Development Lawrence Wong said: “We are starting with a more targeted approach. So the number of Fresh Start families may not be large to begin with.”

Interested families must apply and be placed on the scheme before applying for a flat. They can do so on the HDB website, at HDB branches or at Toa Payoh HDB Hub.

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Mr Wong has also appointed a Fresh Start Advisory Committee to support outreach efforts and give guidance on implementation.”

2-room flexi prices

Mr Leong pointed out that an example of the prices for a 2-room flexi flat in the past, was $110,000, $62,800 and $36,700 for 99, 40 and 15 years lease, respectively.

he asked if you think the shorter lease prices are reasonable?

HDB web site – also no indicative prices?

 

Mr Leong asked why why information on the indicative prices is scarce.

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