SINGAPORE - The majority of resale flats remain within reach of Singaporeans, National Development Minister Desmond Lee said on Aug 6 as he addressed concerns about the affordability of public housing.
Mr Lee, who was responding to a question in Parliament by Mr Saktiandi Supaat , pointed out that around eight in 10 first-timer families who collected keys to their resale flats in 2023 could service their monthly loan instalments with their CPF, with minimal or no cash outlay.
Meanwhile, 4-room and smaller flats that have been sold at the higher end of transacted prices make up just 0.5 per cent of all such flats sold in the last two years, he said. Mr Lee pointed out that since the PLH model was launched in 2021, there has been no conclusive evidence that this has driven up HDB resale prices in those towns.
Explaining why resale flat prices have increased, Mr Lee said that the Covid-19 pandemic disrupted the Build-To-Order building programme and significantly impacted supply.
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