Viva rental house became home to 4,500 families

by time news

About 4,500 families living in government rented houses in Singapore have received their own homes through various housing schemes and grants over the past five years.

This figure equates to about 9 percent of the total households living in rental housing.

An average of about 2 percent of rental families own their own home each year. The Housing Development Corporation released the details yesterday.

From 2019 to December 31 last year, about 1,030 rental families were offered marital opportunities to own a home.

About 340 of those families will get their own homes in the next three years, the corporation said. The corporation will continue to help the remaining families to own a home.

Of the 4,500 families who became homeowners between 2017 and 2021, three-quarters bought their homes directly from the corporation. The remaining families bought the resale house in the open market.

More than half of them own three-story homes and about a quarter own four-story homes.

There are now approximately 51,100 families living in government rental housing in Singapore. Vivaka’s Homeowners’ Support Group will contact rental families who have the opportunity to buy their own home and are willing to buy a home.

The group was formed in 2019. This group guide helps families living in rental homes to own a home, from planning to owning a home.

Divorce estimates take into account many factors, such as the family’s fixed income and whether the family can afford to buy a home.

Meanwhile, commenting on Facebook yesterday, Deputy Minister of National Development Mohammad Faisal Ibrahim said that the Housing Development Corporation was helping low-income families through a government-rented housing scheme with subsidies.

He said the corporation also helps such families buy their own homes when they are ready.

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