Spare a thought for older homeowners when reviewing issue of expiring lease of public flats
I refer to the report, “Government looking into lease issue of old HDB flats which involves ‘serious trade-offs’: Lawrence Wong” (May 17).
I refer to the report, "Government looking into lease issue of old HDB flats which involves 'serious trade-offs': Lawrence Wong" (May 17).
The issue is on the anticipated fall in sales value of government-built flats which are nearing the end of their leases in the next few decades.
This is apart from supply, location and other economic factors which play a part in the movement of the value of these properties.
In reviewing this housing issue, I hope the National Development Ministry will pay more attention to why homeowners want to sell their flats at a decent price. For most of us who can only afford public housing, it is the major asset in our lifetime.
We have an ageing population and for seniors, the extra income comes in handy when they downsize to a small flat. For aged couples, it is their wish not to burden their children with financial matters and they also wish to use the extra money from sales proceeds to enjoy their retirement years.
The Housing and Development Board has learnt to do better in providing homes to young couples at a faster rate, in relaxing rules on income ceiling for applications, in providing grants to families, etc.
Let it not forget the older citizens and not dismiss the impact that the cost of housing has on the older generation.