In contrast to last year’s HDB pricing, today’s pricing is significantly low thus making new HDB flats very affordable to applicants with low to medium income.
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.
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