Bought a 4S room HDB flat at Yishun for
$44,500 with 25 year loan scheme directly with HDB. Joint ownership with my wife to be, paid deposit of
$8000 deducted from our CPF accounts in late
1986.
Early 1987, we got our flat key and got married. HDB had 100 per cent controlled over the sales, resale,
purchase and loan of HDB flat housing
market.
Banks in Singapore were not allowed to be involved in
HDB housing market. HDB
flats were not allowed to be mortgaged or used as collateral for
any bank loans and HDB flats too were not
allowed to be used as a business address registrations. It was
better this way for Singaporeans.