Sunday, March 04, 2007
Current affairs post number 2 yataaa!!!
http://news.asiaone.com.sg/st/st_20070304_96962.html my second post link
I choose this article because I felt that with this new policy of able to rent out flats, I think it would help both the economy as well as the civilians who have a low income and therefore would make a great impact on Singapore both economically and socially thus everyone should take note of this.
Based on the article it says that previously before the new policy came out it stated that those with high HDB (housing development board) loans would have to wait ten years in order to be eligible to rent out their flats to earn profit and five years if they are able to pay all their loans. This system I believe is not very effective because after ten years of paying off their loans they would have even bigger problems if they considered getting another flat and renting their present home to others due to their financial status.
Now with the new rule stating that those who have bought their HDB homes without and subsidy from the government, they can rent their house after just living there for three years. The new rule takes effect immediately and now 650,000 out of 800,000 in Singapore can be rented out to boost the economy of Singapore. I feel that this 650,000 is a really huge number and percentage of HDB homes in Singapore. The new policy can not only help with the growing economy of Singapore but also the fellow Singaporeans with economical difficulties. By renting out their HDB homes, hey can earn easy money from this rental income.
This rule has given many people around the island many opportunities in both economically and socially. For example, mainly for the elderly, they could easily move in with their children while earning rental income from their rented out flats. Now with the growing economy even a three room flat can fetch one thousand dollars a month. I believe that this new rules and policies can help Singapore in many ways, which I have already mentioned before, the civilians also gain through this process, thus it becomes a win-win situation where everyone benefits from the current situation.
Singapore already being a well-developed first world country is now improving to a utopia through these simple steps to ensure the country flourishes. I feel that with more of such policies much can be achieved. Thus ever Singaporean should help and contribute to the situation and show our enthusiasm in everything we do. If every aspect of the Singapore’s government are put together much improvement can be done to build up Singapore.