SINGAPORE: National Development Minister Khaw Boon
Wan said given the existing financial climate, Singaporeans need to
be prudent.
In buying houses, for an example, he said
Singaporeans should buy within their means.
He made these points at the National Day Observance
Ceremony in Sembawang GRC.
Singaporeans, especially second-time flat buyers, can count on the
government to address their concerns.
Mr Khaw said he's quite happy with progress made over the past one
year.
He said first-time home buyers are now able to apply for a
Build-to-Order (BTO) flat in a non-mature estate with relative
ease.
"So now this year, I'll be focusing on second-time (home buyers)
and improve their chances. So the recent BTO, I'm looking at the
subscription rates day by day and it's quite healthy, but we will
press on to build more to satisfy Singaporeans' demand to catch up
on the deficit in the last few years," he explained.
He also stressed that Singaporeans should be realistic about their
financial means.
"There're now some gimmicks coming along, some banks offering 50
years' (loan) so please don't fall for that. It doesn't make
sense.
"If you want to immediately come out from school and want to get a
five-room flat and think that a 50-year loan will help you achieve
that, I don't think that is very wise."
And Mr Khaw said it's a "good sign" that only very few people have
opted for the 50-year loan.
"So I've been checking how many people take up this 50-year loan;
as far as I gather, the number is very few, which I think is a good
sign."
Mr Khaw points out that Singaporeans should be realistic about
their financial means.
"If your salary allows you to buy a three-room flat, buy a
three-room flat. In 10 years' time, if you continue to work hard,
I'm sure your salary will grow, and then you can upgrade.
"Then by that time if Singapore economy is doing well, your
three-room flat will fetch a better price, so with the improvement
in the price of your three-room (flat) you can then upgrade."
In conjunction with the National Day Observance Ceremony, Mr Khaw
also launched a new resident patrol week in the constituency.
The programme will have more than 230 volunteers spreading fire
safety messages for a week, starting 1 to 9 August, every
year.
Sembawang GRC has one of the highest rates of public residential
fires.
But with efforts targeting the problem, the numbers have slipped to
74 - from 80 in the previous quarter.
On a national scale, more than 800 public residential fires were
reported from January to March this year.
This is about 60 cases more than last quarter.
- CNA/ck
