Helping young ones own homes

Helping young ones own homes

It's early Saturday morning and Mr Toh Yan Say is jubilant with the news - the latest cooling measures for the property market.

Yes. Jubilant.

This excited uncle at a kopitiam in Toa Payoh flips the pages of the newspaper in front of him, and points out: "See, this makes it easier for my son to finally buy his home."

He is, of course, referring to the new property measures that were announced by Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam and National Development Minister Khaw Boon Wan at a quickly-assembled press conference on Friday evening.

The new measures that took effect on Saturday are part of the Government's efforts to cool both the public and private housing markets - its seventh round since 2009.

Mr Toh, 78, a retiree who occasionally helps out at night market stalls, shares how his son has been home-hunting for nearly three years.

His son, 30, an interior designer, is getting married in December 2014.

"You know, my son and his fiancee (also 30 and a private secretary) have not been so lucky," laments Mr Toh.

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