Veteran Actor Hugo Ng Buys S$700K HDB, Says It Would Be ‘Stupid’ Not To Buy Flats
“It’s so expensive to buy a BTO flat in Singapore.” “There’s no way I can afford an S$800,000 HDB resale.”
You’ve probably phrases like these many times before as Singaporeans often complain about property prices. After all, who wouldn’t feel intimidated by the huge figures?
But former Channel 8 actor Hugo Ng (吴岱融), 62, seems to think otherwise.
Source: Hugo Ng on Weibo
The Hong Kong-based star, who was born in Singapore, recently revealed that he has purchased an HDB flat for about S$700,000 (HK$4 million).
He also praised the government subsidies that locals are entitled to, adding that it would be “stupid” if one doesn’t buy an HDB flat here.
Hong Kong-based Singaporean actor Hugo Ng buys S$700K flat in full
Speaking to Hong Kong media outlet HK01, the Singaporean star shared that he recently purchased a 1,400 square feet HDB flat.
Source: Hugo Ng on Weibo
He bought it as his 23-year-old son Justin plans to move back to Singapore for work after completing his studies in the UK.
Ng spent about S$700,000 on the flat and reportedly paid for it “in one lump sum”.
The unit is apparently “very spacious” and consists of three bedrooms and, quite interestingly, two living rooms. AsiaOne surmised that it could be an executive apartment or jumbo flat.
Ng thinks it would be “stupid” not to buy an HDB flat in Singapore
Ng’s experience of buying an HDB flat in Singapore has clearly given him a glowing impression of our local government schemes.
He told HK01 that since locals get to enjoy subsidised public housing, he decided to get an HDB flat, which is more affordable than private property.
He compared the price of his newly bought flat to that of a similar-sized private property, saying that the latter would cost about “S$1.4 million to S$1.6 million (HK$8 million to HK$9 million)”.
Ng went on to say that regardless of whether someone is buying or renting an HDB, it’ll never be as expensive as private property, especially with government subsidies available. Putting it bluntly, he thinks that one would be “stupid” not to buy a flat here.
The actor once shared that he’s always wanted to purchase property in Singapore as that’s where his heart is, 8 DAYS reports.
Ng and his wife, former actress Lily Chung, previously rented a 5,000 square feet seafront apartment in Penang.
Source: Hugo Ng on Weibo
The couple, who has been married for 27 years, was quite the pair of avid real estate collectors, amassing numerous properties around Asia.
Subsidies available to help with HDB purchases
It’s nice to see a successful overseas-based Singaporean like Ng being so appreciative of the country’s housing grants, which provide financial help for people looking to buy an HDB flat.
Still, buying a home, even with subsidies, involves spending a lot of money and making big decisions, so one should always weigh their options carefully.
We reckon we can expect to see Hugo and his family in town a lot more often in the near future. For all you know, they could even be your next-door neighbours.
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Featured image adapted from Hugo Ng on Weibo and Weibo.
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