Here's an excerpt of the conversation:
Crispina Robert:
Let's talk a bit about the restrictions - 10 years minimum occupation period, income ceiling, S$14,000 for couples, S$7,000 for singles, cannot rent out the whole place. If I were a young person, why would I buy a flat like that?
Steven Chia:
But why not? If I'm looking for a home as a single, if I'm earning S$6,000 a month, this is what I can afford, in a decent location, and I get government subsidies. It sounds like a pretty good deal?
Crispina:
So the government's plan is working? Buy a BTO to live in, is that what we are looking at?
Prof Sing Tien Foo:
If you look back to the Plus and Prime homes, they are located in a very central area, near the city centre, near MRT stations. If the government don't actually provide enough subsidies, a lot of these houses will not be affordable to the masses.
(From a market pricing perspective), the resale market in this area probably reaches near a million dollars (for a similar flat).
Continue reading...
Crispina Robert:
Let's talk a bit about the restrictions - 10 years minimum occupation period, income ceiling, S$14,000 for couples, S$7,000 for singles, cannot rent out the whole place. If I were a young person, why would I buy a flat like that?
Steven Chia:
But why not? If I'm looking for a home as a single, if I'm earning S$6,000 a month, this is what I can afford, in a decent location, and I get government subsidies. It sounds like a pretty good deal?
Crispina:
So the government's plan is working? Buy a BTO to live in, is that what we are looking at?
Prof Sing Tien Foo:
If you look back to the Plus and Prime homes, they are located in a very central area, near the city centre, near MRT stations. If the government don't actually provide enough subsidies, a lot of these houses will not be affordable to the masses.
(From a market pricing perspective), the resale market in this area probably reaches near a million dollars (for a similar flat).
Continue reading...