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Thread: Buying a 2 room flat on a monthly salary of $850!

  1. #1
    Join Date
    Jan 2007
    Posts
    542

    Default Buying a 2 room flat on a monthly salary of $850!

    Saw this interesting article on the papers today about how an odd-job worker earning $850 a month can buy a two-room flat in Punggol. For those of you who haven't heard about this, here's a summary:

    Purchase price: $99,200
    Monthly income: $850
    Total household CPF: $40,000
    CPF Housing Grant: $40,000
    Loan ($99,200 - $40,000): $59,220
    Estimated monthly instalment: $83 for 30 years
    Deduction from CPF: $83
    Cash outlay: $0

    I think the Singapore government is doing a great job here. What do you think?

  2. #2
    Join Date
    Feb 2008
    Posts
    395

    Default

    Wow, I didn't know there is 2-room HDB like this.

    Just check as long as income ceiling is not more than 2k can apply.

  3. #3
    Join Date
    Jan 2007
    Posts
    542

    Default

    Is it that the monthly household income cannot be more than 2k?

  4. #4
    Join Date
    Sep 2009
    Posts
    170

    Default

    Yup! To purchase a 2-room HDB flat, your average gross monthly household income must not exceed S$2,000.

  5. #5
    Join Date
    Jan 2007
    Posts
    164

    Default

    Not bad PAP!

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