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20-12-2014, 12:00 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
17,721 households benefited from housing grants
According to the HDB’s annual report 2013/2014 – the total number of households that benefited from CPF housing grants (CPF, additional and special housing grants), was 17,721 in 2013/2014 (page 4).
Total housing grants was $135.9m
The total CPF housing grants was $135.9 million (page 56 and 64).
Average grant per household was $7,669
So, the average grant per household was only $7,669.
Assumed grant in prices was $60,000 to $10,000
This is a far cry from the BTO flat prices which assumed housing grants (additional and special) of a whopping $60,000, $50,000, $35,000 and $10,000, for 2, 3 4 and 5-room flats respectively (page 9).
For example, 2-room BTO flats in Punggol wre shown with a price of $21,000 to $81,000, after deducting $60,000 housing grants (page 9).
Only 29% of resale flats get grants
Only 5,046 households or 29 per cent of the 17,552 resale flat transactions received a grant.
Only 30 per cent of BTO get additional grants and 11% special grants
Similarly, only 9,295 or 30 per cent of the 30,638 bookings for new flats received the additional grant, and 3,380 or 11 per cent received the special grant.
HDB flats are “affordable”?
This demolishes the consistent rhetoric that HDB flats are affordable using the “assumed grants’” net flat prices as a benchmrk.
No breakdown of average grant per flat type
Of course, without the breakdown of how much of the total grants went to CPF housing grants (resale), additional CPF housing grants (BTO) and special CPF housing grants (BTO) – we don’t know the average per household for each type of grant. Also, some households could have qualified for both the additional and special grants.
Special grant excludes household income over $1,500 and below $5,000
However, it is interesting to note that the special grant is only for monthly household income less than $1,500 or more than $5,000 to $6,500 – leaving out those whose income is from $1,501 to $5,000.
Why is this so?
Read the Straits Times – none the wiser!
If you just read the Straits Times news report on 17 December which said “One such change was the July 2013 enhancement of the Special CPF Housing Grant, first introduced in March 2011. The income ceiling was raised and it was extended to four-room flats, making more middle-income households eligible.
As of the end of October this year, the grant has benefited about 10,500 households – of whom 8,700 took it up after the change” – you would have been none the wiser!
Win battles lose war
Click here to view the whole thread at www.sammyboy.com (http://singsupplies.com/showthread.php?196176-HDB-Average-housing-grant-only-7-669&goto=newpost).
17,721 households benefited from housing grants
According to the HDB’s annual report 2013/2014 – the total number of households that benefited from CPF housing grants (CPF, additional and special housing grants), was 17,721 in 2013/2014 (page 4).
Total housing grants was $135.9m
The total CPF housing grants was $135.9 million (page 56 and 64).
Average grant per household was $7,669
So, the average grant per household was only $7,669.
Assumed grant in prices was $60,000 to $10,000
This is a far cry from the BTO flat prices which assumed housing grants (additional and special) of a whopping $60,000, $50,000, $35,000 and $10,000, for 2, 3 4 and 5-room flats respectively (page 9).
For example, 2-room BTO flats in Punggol wre shown with a price of $21,000 to $81,000, after deducting $60,000 housing grants (page 9).
Only 29% of resale flats get grants
Only 5,046 households or 29 per cent of the 17,552 resale flat transactions received a grant.
Only 30 per cent of BTO get additional grants and 11% special grants
Similarly, only 9,295 or 30 per cent of the 30,638 bookings for new flats received the additional grant, and 3,380 or 11 per cent received the special grant.
HDB flats are “affordable”?
This demolishes the consistent rhetoric that HDB flats are affordable using the “assumed grants’” net flat prices as a benchmrk.
No breakdown of average grant per flat type
Of course, without the breakdown of how much of the total grants went to CPF housing grants (resale), additional CPF housing grants (BTO) and special CPF housing grants (BTO) – we don’t know the average per household for each type of grant. Also, some households could have qualified for both the additional and special grants.
Special grant excludes household income over $1,500 and below $5,000
However, it is interesting to note that the special grant is only for monthly household income less than $1,500 or more than $5,000 to $6,500 – leaving out those whose income is from $1,501 to $5,000.
Why is this so?
Read the Straits Times – none the wiser!
If you just read the Straits Times news report on 17 December which said “One such change was the July 2013 enhancement of the Special CPF Housing Grant, first introduced in March 2011. The income ceiling was raised and it was extended to four-room flats, making more middle-income households eligible.
As of the end of October this year, the grant has benefited about 10,500 households – of whom 8,700 took it up after the change” – you would have been none the wiser!
Win battles lose war
Click here to view the whole thread at www.sammyboy.com (http://singsupplies.com/showthread.php?196176-HDB-Average-housing-grant-only-7-669&goto=newpost).