Personal Finance
Parents paying for education and now housing downpayment.
By Investment Moats  •  January 24, 2013
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.
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, ...
...
Read the full article
By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance