PSP's idea to exclude land cost from new flats may drive up public housing demand in prime areas: PAP MPs

This suggestion was shot down by Members of Parliament from the ruling People’s Action Party who argued that such a plan was not feasible and would worsen demand for flats in prime areas or reduce the equitable access of flats to first-time homeowners.

The first was an"affordable homes scheme" where Singaporeans may buy a BTO flat at a “user price”. This price would include the construction cost of the flat and a “notional location premium”.The land cost will be recovered when the owner sells the flat in the resale market after the required five-year Minimum Occupation Period.

and most buyers may use their Central Provident Fund savings to service their monthly property loans, this comes at the cost of depleting their CPF savings for retirement and other needs.could have a negative impact on the total fertility rate in Singapore, since married couples with potential plans to start a family are unable to secure a house due to long waiting times for BTO flats and high prices.

Under PSP's proposal, people will have to pay more for their flat at the time of sale than they do under the present scheme, Mr Nair argued. On PSP's proposal to offer rental housing for young Singaporeans, Mr Nair said that HDB should continue to prioritise building flats for thoseIf the demand for BTO flats has adequately abated, the Government can consider providing rental homes, although rental housing should be prioritised for families in financial difficulty, he added.

Ms Chan asked if MND could increase the Minimum Occupation Period for BTO flats in mature estates so as to prioritise buyers who genuinely need a flat

Bwa hahaha!!! Isn’t what they said is the reality today? Or are they so attached with what is happening with people’s life and living with the dinosaurs?

Then don't build there in the first place? Let the private developers build.

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