'Renting on open market is too expensive': Families awaiting BTO flats say $300 rental voucher inadequate
But Ms Peh, who applied more than three times for a temporary home in 2021 before committing to a two-year lease, said: “$300 a month is not sufficient support at all, compared with high rents and rising costs of living. Other buyers awaiting their BTO flats told The Straits Times that the rental voucher scheme was a good initiative, but that they would continue to apply for a PPHS flat as rents on the open market are steep.
“Rents for three-room flats on the open market are, at a minimum, $2,300 a month. Plus, the voucher is only for a limited time,” she added.A healthcare worker, who wanted to be known only as Mr Tan, 27, said he hoped for a higher voucher amount for couples with children. Asked about the impact the voucher could have on the rental market, Ms Indranee said the authorities did not want it to be “so much that it would actually induce demand and then have a knock-on effect on the market”.
In Punggol, where the median rent is $1,275 a month for a bedroom, the voucher would cover about 23.5 per cent of the rental cost, she added. Psychology undergraduate Nur Aisyah, 23, who plans to apply for a four-room flat in the June exercise, said this means she and her fiance can likely offset the first deposit with Central Provident Fund savings without having to dip into their cash savings.
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