Hi,
HDB flat is meant to encourage building a family. Thus you will notice the eligibility listed on the HDB website to emphasize this intention.
But do consider there is a certain condition that single SC to also should be entitled to enjoy this subsidized benefit, but not to encourage thus only for those still unable to find a life partner at 35 years, are allowed to purchase HDB flats, with certain constraint.
PR as the name suggested, who also contribute to the success of the country should not be deprived of the benefit. But still wished PR who had to contribute for at least 3 years to have a family to stay here permanent are entitled to enjoy the benefit as well.
This was the reason why only PR couple who hold PR status for 3 years are entitled to purchase HDB resale flat.
In order to realize this concept, both of your names must be registered as owners to show your intention.
It is the private property market that gov does not wish to intervene how the way property to be held. Because this further limits the chance and choice of a foreigner who wished to enter into the country to make a contribution and preferred to own rather than rent a place for themselves and their family.
So far gov only monitor closely the price and transaction volume to ensure there weren't unusual activities in property to prevent crime.
As the property market is one of the major ways that money laundering takes place due to the high quantum involved. Thus you see cooling measures implement or tweak from time to time.
You might have read or watch the news during the last few days that gov place a hint on implementing more measures to ensure property price rise does not run ahead of country growth.
If you intend to get a home for yourself and financially ready, it is advised to do it early before new measures implement. You might be affected if LTV tweet like what other countries did, that is your loan amount reduced to 70% instead of the current 75%.
Once this really happens, you will have to delay another few more years to save this additional 5% before you can buy.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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