While the gap is coming near, Khaw Boon Wan’s (the National Development Minister) target has not come into a reality. He targeted that the price for new flats will be four times more than the applicant’s median income.
The target was established a year ago where the price ratio is at 5.5 more than the annual salary of the applicant. Now, though lower, it is not still a reflection of the target that Mr. Khaw envisioned to achieve.
The most affordable flat is a two-room unit. At the amount of $55,000, it is around three times lesser than the median household salary of an applicant.