Singapore housing proposals and solutions

Just compare what the opposition parties are offering Singaporeans in terms of housing policies, with what the PAP is charging Singaporeans.

(1) The Singapore Democratic Party (SDP) says it wants to reduce HDB flat prices for BTO flats to between S$100,000 (3-room) and S$240,000 (5-room).

(2) Future Of Singapore has proposed to reduce flat prices for BTO flats to between S$110,000 (3-room) and S$260,000 (5-room).

(3) The Workers’ Party (WP) is also proposing for BTO flat prices to be pegged to median incomes, and for the land sale component to be made transparent to Singaporeans, so that Singaporeans will know the breakdown of the land sale and development costs of the BTO flats.

This is also what the SDP is saying: that the government should not profit from Singaporeans when it comes to public housing, and that with current construction costs for flats being at only S$75,000 to S$170,000 per unit, current high flat prices are due to the PAP government earning from the land cost component (refer to first chart).

Future of Singapore also pointed out that current BTO flat prices are S$215,000 (3-room) to S$325,000 (4-room), and that Singaporeans have to therefore channel the bulk of their CPF retirement savings into paying for the HDB flats, causing them not to be able to save enough for retirement. As such, a more affordable plan is for 3-room flats to be priced at S$135,000 and 4-room flats to be priced at S$180,000, which would mean lower flat prices of 55% to 60%, compared to current flat prices (refer to second chart).

This is the same point SDP and WP made too.

(4) Now, BTO flat prices under the current PAP government. Current flat prices are from S$165,000 (3-room flat) and go up to as high as S$423,000 (5-room flat), based on the BTO prices for May and September this year.

Now, you can compare which party offers you the best housing price plan.

Singaporeans like to say we are very calculative, and that we are not like the Hong Kongers, so instead of protesting, we will vote for our interests. The Hong Kongers are calculative too, and they have also voted for parties to protect their interests. Let’s see whether Singaporeans can be calculative enough to vote for their interests.

Remember, if you want any new policies, then the new parties would need to have a majority in parliament. If they win only a third of the seats, they will only be able to block policies PAP passes, they won’t be able to propose new policies.

But it’s up to you. If you stick to the status quo, it’s fine too. You just have to keep paying higher prices and losing money from your CPF. If you are willing to try something new, it will help you save more.

You can continue on the more painful path under the PAP or go with the option which will help you save more for the future – under the vision and future that SDP, WP and PSP are offering you.

 

Roy Ngerng

 

 

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6 Responses to “Singapore housing proposals and solutions”

  • oxygen:

    WITHOUT FAKE SUBSIDY, BTO prices are unsustainable of reality.

    GD Star Rating
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  • vincent tan:

    like Roy pa si bo chow motto.
    please come out to frontline parlimentary world
    to help voice our concerns.
    make full use of your high-profiling from
    ah loong legal case to profit your high political profile .
    jia u bro Roy
    Good Luck

    GD Star Rating
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  • Accountability for Sheeples:

    https://terr.sg/blog/the-true-cost-of-a-hdb-flat/

    How much do you really truly pay when you purchase a “public flat” from Sinchiapor Incorporated?

    GD Star Rating
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  • Lam Pah Mini:

    How to stop PAP from taking these solutions?

    They already over paid and under performed.

    Broken promises :
    1. Swiss standard.
    2. Cpf at 55
    3. Your flat price will never drop.

    GD Star Rating
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  • Simultaneous Attack:

    Knowing that the PAP has many errors and weakness, its time for all the critics and Opposition parties to conduct a simultaneous attack on the PAP in the coming election so that they will spend more time defending and have less time to counter attack.

    GD Star Rating
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  • Resolve Housing problem:

    Need to address the housing problems.
    The government should buy back the old flats at a reasonable price for redevelopment.
    Reduce the new flats price for the future generation sake before we become another HK.

    GD Star Rating
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