SINGAPORE — Build-to-Order (BTO) flats remain affordable, with flat prices moving in tandem with incomes, said Deputy Prime Minister Lawrence Wong on Monday (May 1).
Speaking during the May Day Rally, Mr Wong said:"When you think about affordability, please don't just look at the headline price of the BTO flat; also consider how the price relates to income, as well as the proportion of income that's needed to service the housing loan."
Currently, the price of a similar flat in a non-mature estate like Bukit Batok costs S$350,000 – prices have risen by nearly 10 times since 1980, said Mr Wong, who is also Finance Minister. "So if you do a proper comparison, a fair comparison, BTO flats remain affordable," said the Deputy Prime Minister.
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