14 Oct '15, 7am

Letter to the Editor: Cash poor and living in a depreciating asset

Comment E-mail to friend Bookmark & Share I am a 64-year-old Singaporean. I own a former HUDC unit at Tampines Court, bought from the open market before privatisation. Unlike the current generation, I did not receive any grants or baby bonuses. The Housing Board considers that I have enjoyed two HDB privileges, the first of which was bought directly from the agency in the 1980s. Now I’m about to retire without much money in my savings except for a few hundred dollars from my CPF payout. My recent request to HDB to allow my spouse and I to buy a unit directly from HDB was turned down, and I understand I have to give up my home at Tampines Court upon getting a HDB flat. But the private property market is depressed and I will not receive much money from the sale of my private unit, therefore my desire to get a HDB unit. But I’ve been told I only qualify for a studio apartment...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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