HDB Flat Prices Will Remain Affordable In Prime Locations, Says Gov’t
National Growth Preacher Desmond Lee said the government will certainly ensure that rates for Housing and Development Board (HDB) flats at prime places will remain cost-effective at the first sale by HDB in addition to during resales, reported The Straits Times mentioning an interview with Lianhe Zaobao.
An instance of apartments in prime locations are those ready to be constructed in the Greater Southern Beachfront (GSW).
According to Lee, the government intends to develop a range of housing key ins upcoming estates within prime areas to guarantee that they have a great mix of Singaporeans.
These include rental housing for low-income households and also smaller sized housing kinds like two-room flats for senior citizens.
Lee recognized that those who purchased Build-to-Order (BTO) apartments in prime places will likely take pleasure in a windfall once they offer their units on the resale market.
He pointed to the problem of “inclusiveness and also variety” once such apartments are enabled to be resold complying with the five-year minimum line of work duration.
” If it’s going to be marketed and also negotiated at high resale costs, then there is a danger that only prosperous Singaporeans can get (flats in) those estates. And then certainly, the character of the estates will alter as well as it might be valued beyond the reach of average Singaporeans,” stated Lee.
” We do not intend to have estates that are gentrified and that just the wealthy can pay for to live (in). We wish to have an excellent mix.”
As such, “a series of other actions” will have to be implemented to guarantee that resale costs will certainly “stay budget-friendly for generations to find”, stated Lee without providing information on the actions.
“People will, obviously, pay what they believe the market can bear in order to get these very good flats as well as great areas. So several of these steps would certainly need to cover all these fronts,” he added.
Lee revealed that HDB will seek public comments and also ideas via involvement sessions in the following couple of months.
“We will certainly intend to make certain that these public discussions are held, people’s views are gotten and then we can develop a version that we could potentially use in the near term,” he said.
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