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SINGAPORE – Built-to-order (BTO) flats in prime locations may receive further subsidies as the government considers ways to ensure that the new Housing Board units remain affordable for ordinary Singaporeans.
Among the ideas under study, homeowners may face restrictions on resale conditions for future public housing projects in privileged areas.
In a Facebook post on Friday morning (December 11), National Development Minister Desmond Lee said that a new housing model is needed for BTO flats in “new areas with very important attributes” as they will be “much more expensive than current BTO floors.” .
To keep future prime location housing projects, such as those in Downtown or the Greater Southern Waterfront, affordable, Lee said the government may have to apply more subsidies, in addition to existing subsidies already provided today. for all. BTO floor buyers.
But he acknowledged that the additional subsidies can pose some problems.
“There is the equity issue when these additional subsidies add up to higher capital gains for buyers of such flats in prime locations,” he said.
“In addition, we want to preserve the character of public housing in these developments, so that like other HDB developments in Singapore, they remain inclusive over time.”
He also reiterated that a wide range of apartment types will be built in upcoming properties in prime locations, including flexible two-bedroom apartments and rental housing where possible, to meet different needs and keep Singapore’s public housing inclusive and diverse.
Lee said the government will consider measures that “balance these various objectives” for the next new floors in the main areas.
“We have received many ideas, for example some have suggested introducing some restrictions on resale conditions for future projects in major areas,” he said.
Asking for more suggestions from the public, he said there is “a whole range of ideas” that can be applied to these future flats under the new housing model, which will be carefully studied by the Government.
Last month, Lee said in an interview with the Chinese-language daily Lianhe Zaobao that a variety of housing types will be “deliberately injected” into upcoming properties in prime locations.
He also acknowledged the “lottery effect” of these well-located apartments when they are resold at high prices, resulting in a “likely windfall” for homeowners.
He said then that the price of the flats should be kept affordable in the first sale by HDB and also in the resales, hinting that a series of measures can be implemented to ensure that “if the resale of these apartments is allowed, they remain affordable for generations “. come”.
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