Students on home ownership
Published on May 22, 2012 12:00 AM
In the run-up to The Straits Times-Ministry of Education National Current Affairs Quiz, students discuss their dream of home ownership.
Costly homes might force me abroad
FOR young people who are planning on remaining single, their dream of home ownership might never come true since they cannot purchase public housing in Singapore on their own if they are below 35.
At the same time, the prices of homes keep increasing while their sizes keep shrinking. The value of my parents' four-room flat has doubled over the last two years and I don't dare imagine the price of housing in Singapore when I need to get my own place.
If that's the case, I might consider residing abroad.
- Jasmin Kaur, 17, is a first-year science student at Innova Junior College.
Manage your expectations
THE reason why many young people in Singapore today are complaining about not being able to own a house is because many of them aim high and want to own private housing, and therefore fall hard.
Owning a HDB flat in Singapore is definitely well within reach for an average working young adult who has his or her family. That is possible due to constant building of more public housing estates in Singapore by the HDB, hence stemming rising property costs.
This is accompanied by the offering of housing loans by banks, and government incentives such as priority given to young married couples and Central Provident Fund housing grants.
- Darien Chua, 17, is a Year 5 Integrated Programme science student at Dunman High School.
First-time buyers should have it easier
CURRENTLY, there are many new housing projects all over Singapore. In just Pasir Ris alone, there are five to six projects under progress. With more houses being built, this should open up more choices for young people and lower housing prices.
I also think it is quite likely that the Government will continue to make it easier for first-time buyers to get a flat, which includes young people venturing into the housing market for the first time, as compared to second-time buyers who may have more experience in buying houses, and higher incomes. After all, the affordability of housing is currently a very controversial and highly-debated issue.
- Lee Hui Ying, 16, is a first-year science student at Meridian Junior College.
So many things to pay for, too little money
IN MY opinion, the dream of home ownership is not exactly within reach for young people in Singapore. This is not just because of rising property costs. The rising cost of living is also hindering our ability to pay off loans. Add to that the burden of an aging population, and more money needed to go into caring for our elderly. I fear that even with a $10,000 combined monthly income, a young couple would not be able to afford property in the future.
- Kimberly Wong, 16, is a first-year arts student at Nanyang Junior College.
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