Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223970
Title: AFFORDABILITY OF PRICIER DBSS FLATS AND THE INCOME CEILING OF S$8,000
Authors: CHAN JINGJIA DANNY
Keywords: Real Estate
Affordability
Income ceiling
Mortgage loan
Prices
Issue Date: 30-Sep-2009
Citation: CHAN JINGJIA DANNY (2009-09-30T09:38:05Z). AFFORDABILITY OF PRICIER DBSS FLATS AND THE INCOME CEILING OF S$8,000. ScholarBank@NUS Repository.
Abstract: This study examines the affordability of the pricier DBSS flats within the stipulated income ceiling of S$8,000. The prices quoted for some of these DBSS flats are comparable to the prices quoted for lower end executive condominiums and re-sale HDB flats. Despite having lower income ceilings stipulated for these pricier DBSS flats, they are still found to be affordable, satisfying international standards for the percentage of monthly mortgage instalment to monthly gross income. With the deduction of CPF savings, the prices are made even more affordable especially if both couples are working and contributing CPF. However a reduction in the percentage of gross monthly income spent on mortgage loans, would lead to a reduction of the income groups within the ceiling that could afford these pricier flats. In addition, through a maximum loan term of 30 years, various problems could affect the affordability of the housing such as lost of jobs or income reduction. With economic changes happening over the past fifteen years, there have been calls for an increment in the income ceiling but such calls have been refuted by HDB as the flats are still found to be affordable. Hence it is suggested that the criteria for tendering to be change to focus on design and concept instead of the highest bid with the charging of a close to market price for land, or the presetting of prices for the DBSS flats. This is aimed at ensuring lower prices for lower income HDB owners and more affordable mortgage loans.
URI: https://scholarbank.nus.edu.sg/handle/10635/223970
Appears in Collections:Bachelor's Theses

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