Monday, July 18, 2011

Affordable HDB flats

The Minister for National Development faced the challenge of bringing down the price of new HDB flats to an affordable level, without causing a crash of the property market that can bring dire consequence to the economy. Here are some issues to be considered:

  • How to determine the affordability and size of the flat?
  • How to allocate the new flats and avoid a mad rush?
  • Does the BTO scheme meet these objectives?
  • How to prevent a crash of the property market?
I hope to get the views of knowledgeable people who have studied this matter in the past. Please send your suggestions to kinlian@gmail.com.

4 comments:

Alan said...

When a medium income worker spend a third of his income to repay his home loan in 20 years. ??? ??? ???

Sureesh said...

When a medium income worker spend a third of his income to repay his home loan in 20 years. ??? ??? ???
which he/she doesn't own or own it for only 99 years

Singapore's 5 Minute Investment Diary said...

@ Sureesh

A most persistent urban legend of Singapore is that we have one of the highest home ownership (87.2%)in the world.

But most Singaporeans live in HDB flats.

And all HDB flats belong to HDB. We just have the rights (like car COE) to stay in our flat for up to 99 years only.

So where is this "highest home ownership in the world"?

See Mah Bow Tan's claims in URL below.

http://www.todayonline.com/SingaporeVotes/EDC110426-0000870/Mah-Bow-Tan-promises-affordable-homes-in-YouTube-video

Singapore's 5 Minute Investment Diary said...

"Private property is the most important guarantee of freedom." -- F.A. Hayek


"The sacred rights of property are to be guarded at every point.

I call them sacred, because, if they are unprotected, all other rights become worthless or visionary.

What is personal liberty, if it does not draw after it the right to enjoy the fruits of our own industry?

What is political liberty, if it imparts only perpetual poverty to us and all our posterity?

What is the privilege of a vote, if the majority of the hour may sweep away the earnings of our whole lives, to gratify the rapacity of the indolent, the cunning, or the profligate, who are borne into power upon the tide of a temporary popularity?"

-- Judge Joseph Story, 1852

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