Mr Mah commented that a couple earning a combined income of 4,000 a month can work for half a year and buy a new four room HDB flat with no cash upfront.

However, only 23% is credited to the Ordinary account of CPF out of a combined 35.5% (the rest goes to special account and medisave account (5.5% and 7% respectively)). So lets do a quick calculation. 23% x 4,000 x 6 months would mean $5,520 for six months in the ordinary account and assume you can use all, a 5% downpayment regross would mean the 4-room HDB flat is about $110K (excluding other charges). You mean HDB BTO flats for a four room is so cheap?

A look at the newly launch Sengkang BTO where they price their 4 room flats at about $303K to $359K (Compassville Ancilla). This would mean the couple earning a combined income of 4,000 per month has to work approximately 1.5 years to pay a 5% downpayment for a BTO in Sengkang.

I wonder how Mr Mah work out the $4K a month combined income and able to pay the full downpayment within 6 months.

I AM GLAD YOU'RE GONE!