BTO Flats Are Not Affordable, Too Expensive For Many Singaporeans
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I strongly disagree with the notion that Build-to-Order (BTO) flats are affordable. In my opinion, they are too expensive for many households.
The prices of both BTO and resale flats are so much higher than before, compared to the 1980s to 2000s.
Nowadays, a household must earn at least S$5,000 a month, excluding household expenses, to afford a BTO flat.
Not all households can earn so much given the current state of the economy.
While flat prices have increased more than 10 times since the 1980s, workers who are not earning well have not seen their salaries increase by a similar amount.
I hope the Government can help to consider how the next generation is going to be able to afford to buy a flat if the current situation continues.
Jude Tay
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Featured image adapted from Wikimedia Commons.
