Copywriter Amos Yeo, 26, got a helping hand from his father when he and his girlfriend, scriptwriter Pamy Tan, 24, wanted to buy a five-room public housing flat under the Design, Build and Sell Scheme. The couple had recently graduated and been working at their jobs for about six months when they saw the unit at Parkland Residences along Upper Serangoon Road, next to Punggol Park, and which had a price tag of $720,000. They had combined savings of less than $15,000 and, with hardly enough in their Central Provident Fund accounts, it was a far cry from the initial 20 per cent payment of $144,000 that was required. But Mr Yeo’s father, a civil servant, ......
Last weekend, Sunday times have a series of three articles talking about a growing trend of young adults just entering he workforce seeking assistance from parents to pay for down payment of new flats.