ST Forum : Don't penalise genuine upgraders

Sep 4, 2010

Don't penalise genuine upgraders

I REFER to Ms Tan Tien Li's letter on Thursday ("Dream home, genuine upgrader's worry").

I applaud the Government for giving the public another option to purchase Design, Build and Sell Scheme flats from the HDB (besides the executive condominiums), but I am concerned about the latest property policies.

I, too, have the genuine upgrader's dream. I want to move to an executive condominium with facilities for the children. However, with the recent announcement of policies to curb speculation, I will be penalised. Given the 70 per cent loan-to-value limit, I must sell off my current executive maisonette in order to enjoy the 80 per cent loan rate.

While the aim of curbing property speculation is good and welcomed, we have to also consider the interests of those who are sincerely looking to improve their families' living standards.

I urge the Government to review these policies to differentiate between speculators and genuine upgraders.

Teo Mui Mui (Ms)