The Big ISSUE

I feel like a sponge in the midst of everyone's discussions hahah
the BIG ISSUE of housing, pricing, location, payment, cpf and other costs..

one word
EXPENSIVE.

So..
Be very sure and well-prepared for the impact if you are joining in the Big ISSUE.

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http://www.propertyguru.com.sg/news/2010/1/27118/8-out-of-10-new-hdb-flat-buyers-use-only-cpf-monie

The Housing and Development Board (HDB) has maintained its commitment to keep flats affordable, said Minister Mah Bow Tan.

Mr. Mah provided concrete examples and figures in response to a question from West Coast GRC MP Mdm Ho Geok Choo about how the proliferation of housing options will affect HDB in terms of pricing, eligibility criteria and policy.

According to the minister, HDB’s offerings across varied locations, designs, flat types and prices cater to different segments of flat buyers with individual preferences and budgets within the income ceiling of $8,000, which comprises almost 80 percent of Singapore households.

He noted that around eight out of 10 new flat buyers use CPF monies entirely without any cash outlay in servicing their housing loans.

“This is possible due to our generous subsidy system. All new flats come with a generous market subsidy. Households earning less than $5,000 monthly can apply for Additional CPF Housing Grants of up to $40,000. HDB also offers concessionary loans to eligible households. First-timers can also enjoy a CPF Housing Grant of up to $40,000 when they buy a resale flat, DBSS flat or EC,” he said.

For those with higher aspirations and who earn a higher income, the Design, Build and Sell Scheme (DBSS) offers premium flats. They could also opt for one-off special projects located in mature estates like the Pinnacle@Duxton. Those households with a monthly income of up to $10,000 can purchase Executive Condominiums (EC).

He also asked flat buyers to be prudent and buy only within their means.

“Let me illustrate. A family with a monthly household income of $3,000 who spends 30 per cent on housing can buy a flat of up to $250,000. This covers all the new 3-room flats in HDB's most recent BTO projects in Choa Chu Kang and Hougang in Jan 10. They also have a selection of the 4-room flats, where prices start at about $230,000. At $4,000 monthly income, a family can afford up to $333,000 without spending more than 30 per cent every month,” said Mr. Mah.

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define "within their means"
Property's STILL INCREASING. Income's not.