Saturday, November 17, 2012

Full picture of BTO flats


The Minister said that the price of BTO flats is affordable, as it require 23% of monthly income to service it.

http://www.todayonline.com/Singapore/EDC121117-0000023/First-timers-use-23-of-monthly-salary-to-pay-for-flat

Can the minister give the full picture?

a) What is the duration of the loan?
b)  What is the interest rate used in the calculation?
c)  What will be the ratio of loan repayment to income, if interest rate were to increase to 4% at a future rate?\
d)  What is the ratio of the flat price to the family income?
e)  What is the chance of any of the bread winner losing the job during the duration of the loan?

4 comments:

Lye Khuen Way said...

Am afraid no one in the MND have a satisfactory reply to Any of your questions, Mr Tan.
That "affordability" assurance is just that.
An assurance, as in an aspiration in another context.

I would be most happy to be proven wrong.

C H Yak said...

The generic answer to all your questions is simple : NOT AFFORDABLE.

LOL

C H Yak said...

Mr Khaw should answer this instead :

http://de-leviathan.blogspot.sg/2011/04/illegal-raid-on-reserves-mr-mah-should.html

Kin Lian Tan said...

Read this article about the "Affordable HDB flats"
http://feedmetothefish.blogspot.sg/2012/11/is-hdb-apartment-as-affordable-as-8-cagb.html

Blog Archive