Frustrated Singaporean Couple Questions House Hunting Challenges as They Hit Salary Ceiling

SINGAPORE: A couple’s years-long quest for a home in Singapore has turned into a source of frustration and confusion, prompting one partner to take to social media to ask fellow Singaporeans, “Why is it so difficult to secure a house in SG?”

Posting on the popular Facebook group 'NUSWhispers,' the woman expressed their disappointment after they began their housing journey as soon as they became eligible to apply for a Build-To-Order (BTO) flat.

“From the moment we could apply until our salary ceiling burst, we’ve been searching with no success,” she lamented. With high hopes, they shifted their focus to private property and spent two years pursuing new condo launches, but their luck didn’t improve— they ended up with poor queue numbers.

Unfortunately, when it finally came to their turn, only the large and costly four- or five-bedroom units remained. "We started early and even saved by forgoing a wedding and honeymoon, pouring that money into our dream home, but we still can’t seem to land anything,” she shared, highlighting their financial discipline.

With no family support, their last resort was the resale market, which they found to be anything but affordable. “It feels like if we had married at 22, we would have been better off. It's as if the longer we wait, the more penalties we incur. Does everyone start married life with a mountain of debt just to get a place to call home?” she questioned, reflecting a broader concern many young professionals share regarding the rising costs of living.

While some commenters empathized with their struggle, others expressed skepticism towards their predicament. Netizens remarked that hitting the salary ceiling generally enables access to more expensive properties, igniting a debate about expectations versus reality in the housing market. “Is it truly that you can’t find housing, or is it about finding one that meets your standards?” queried one user.

In addition, many suggested exploring resale options, informing her that there are affordable flats available beyond the million-dollar mark. One shared her story of marrying young at 24, successfully purchasing a three-bedroom resale flat, and later upgrading, encouraging others to consult a real estate agent to explore their full range of options.

The frustrations of house hunting aren’t unique to this couple. Many Singaporeans continue to report difficulties navigating the real estate landscape, with some sharing experiences of submitting multiple unsuccessful bids for BTOs or waiting years for a successful application — one noted, "I balled for a two-room BTO since I was 37 and only received it when I turned 47 — my 25th attempt!"

Adding context to their concerns, the Housing Development Board (HDB) in Singapore has indeed raised income ceilings for different property types over the past few years. As of 2019, the limit for families applying for new BTO flats has increased from $12,000 to $14,000, while Executive Condominiums have a raised ceiling of $16,000. Notably, the resale market is unrestricted by income limits, making it accessible to a broader population.

However, the housing crisis in Singapore remains an emotional and financial burden for many, reflecting the wider challenges young couples face in a city where property prices soar and the quest for affordable housing continues.

Stay tuned for updates as we follow this couple's journey and the larger implications for Singapore’s future housing landscape!