'Renting on open market is too expensive': Families awaiting BTO flats say $300 rental voucher inadequate

'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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Renting on open market is too expensive: Families awaiting BTO flats say $300 rental voucher inadequateBuyers awaiting their BTO units said they would continue to apply for a flat under the Parenthood Provisional Housing Scheme. After failing to secure an interim rental flat under the Parenthood Provisional Housing Scheme (PPHS), an assistant manager who wanted to be known only as Ms Peh resigned herself to renting a three-room flat in Ang Mo Kio for $2,900 a month in 2022. The 34-year-old, who works in healthcare, said she was disappointed when she learnt that rental vouchers under the PPHS for flats or bedrooms on the open market were fixed at $300 a month. The voucher scheme will run from July 2024 to June 2025, allowing eligible families waiting for their Build-To-Order (BTO) units to offset rent for a Housing Board flat or bedroom on the open market
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