SINGAPORE: Concerned about high HDB prices, an online user asked a forum how young Singaporeans are expected to afford housing without feeling overwhelmed by stress and pressure.
“HDB prices are really siao liao, how are young Singaporeans coping?” This was the title of a post shared by an online user on Wednesday (Feb 5) in a forum. In his post, the writer shared his concern over how young people are coping with the pricing of public housing in Singapore. “Wah, HDB prices these days are really no joke, sia. BTO wait is super long, resale prices keep climbing, and even rentals are getting crazy. How are young Singaporeans supposed to afford housing without feeling super stressed?” he shared.
“Are you all aiming for BTO, resale, or just planning to rent until further notice? And those who managed to get a place, any tips for budgeting and not eating Maggie Mee every day? Curious to hear different perspectives, especially from those already in the process!”
Many responded to the post, sharing their two cents on the matter of public housing prices in the country. There was a mix of responses. “Just buy within our means lor what to do,” said one. “Personally feel if your CPF (joint) cannot cover the downpayment you need to seriously reconsider your choices. Until HDB decides to step in and completely change the resale market, there’s nothing we can do except spend diligently, win toto, or strike the BTO lottery (minimum 500k profits not inclusive).”
“I’m single so it’s looking bleaker and bleaker for me. No idea how I’m going to cope, trying to get into investing but the information is so vast and overwhelming,” said another.
A third took a different stance, saying, “To be honest, I find it very easy to buy HDB with median income. I bought my resale only with my CPF and can pay the loan off solely with CPF. Not a single cent of my cash was used. The combined income of me and my spouse is only 12k. So yes, I think our HDB is very affordable compared to international cities where the good jobs are.”
“In this world now, housing is expensive wherever good jobs are. Luckily, our housing is comparatively cheap, considering the availability of good jobs here. I think we should learn to whine less and try to ensure that Singapore does not lose its lead to KL, Jakarta, or Manila.”