Unrealistic Singapore Government

Sometimes I think that the people who make up the Singapore Government have been in the government sector for so long that they have lost touch of what's its like to be an average Singaporean.

The recent sale of HDB's new Design, Build, Sell Scheme, City View @ Boon Keng, drew about 3000 applicants when they first open. They were going after 714 flats on sale. With price ranging from SGD350,000 to SGD730,000 for a 3-5 room flat, these applicants still had to fulfill the standard HDB criteria.

a) Family nucleus of at least 1 Singapore Citizen or Singapore PR
b) Applicants be at least 21 years of age
c) Non-ownership of private properties
d) Income ceiling of SGD8,000

The first 3 criteria are pretty standard and understandable, of course you should be an adult when buying a property and to maintain some form of citizen benefit, you should be a Singapore Citizen. And of course, if you already own a private property, don't apply for public housing, leave it to those who cant afford the private prices.

But then again, City View @ Boon Keng is selling at private property prices!

What really irks me is that the Housing Development Board must truly believe that a family with a combine income of SGD8000 or less can afford to buy a property worth SGD730,000!!!!!
I did a rough calculation and with a flat worth that much, you need a montly mortgage about $2100. If a couple has a combine income of $7999, their montly contributions to CPF (ordinary account) is only approximately $1800.

So this couple needs to fork another $300 in cash to upkeep the house, wipe out all their RETIREMENT savings for a GOVERNMENT OWNED 99YEARS property!!!

Whatever happened to HDB's mission statement.

We provide affordable homes of quality and value.

We create vibrant and sustainable towns.

We promote the building of active and cohesive communities.

We inspire and enable all staff to give of their best.

Affordable? Where is the affordability these days.

With a take-up rate of only 65% for City View @ Boon Keng, HDB has now release it to the open market for walk in selection. Even so, I don't think the take up rate is as good as the former Premiere at Tampines.

Doesn't think goes to show something?

When is the Singapore Government gonna wake up their idea?