Thursday, March 14, 2013

The budget and our first home

The Straits Times - March 9, 2013
Ms Lim Yan Han & Mr Teng Ying Qin engaged

AFTER four unsuccessful attempts at balloting for a new flat, teacher Lim Yan Han, 24, and engineer Teng Ying Qin, 26, feel under siege.

"It feels very competitive, and that the future is very uncertain," said Ms Lim.

"Everyone is balloting for a flat, whether their relationship is stable or not."

Of their last four ballots, only one was for a non-mature estate - Bukit Batok.

In the next round, they will likely try for a non-mature one to boost their chances.

Ms Lim welcomed some of the new initiatives that National Development Minister Khaw Boon Wan announced in Parliament yesterday.

For example, they can now rent a subsidised flat from HDB to live in after they are married, while waiting for their new flat to be built, as part of the newly expanded Parenthood Provisional Housing Scheme.

But Mr Khaw's message to young Singaporeans that their home-owning dreams will be kept alive - and that he will slash the prices of new flats by a third in non-mature estates to keep them affordable - was cold comfort to Ms Lim.

"I'm worried that lower prices will just mean more people competing for flats," she said.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)

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