The recent debate on affordable housing has brought up several possible alternatives, but we don't think all of them will go down well with everybody. It's beginning to look a bit like a zero-sum game, where someone – be they young first-time buyers or older sellers of resale flats – is going to gain at the expense of another. This...
The recent debate on affordable housing has brought up several possible alternatives, but we don't think all of them will go down well with everybody.
There was a response recalling the 1997 surplus of flats, however, which resulted in a brief period where later buyers could purchase surplus flats at a lower price than those who had queued.
After all, it's been shown time and time again over the last few years how quickly these get snapped up. As for locations that may be considered to be more challenging, having the BTO system could still be relevant. He also suggested an absolute cap on BTO prices, such as a cap of five times median income; this would cap a four-room flat at $500,000 before grants.
The other proposal is a Millennial Apartments Scheme, which aims to set aside some flat units near prime CBD locations for young families, or groups of singles. These apartments would be available on affordable leases from two to five-year.
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