“Review of HDB town classification likely to come with policy changes: Desmond Lee” (ST, Dec 11)
““Thirdly, if we have new classifications or no classifications at all, what are the policy changes that will follow to ensure that these flats remain accessible and affordable to a wide spectrum of Singaporeans?” said Mr Lee.”
Comment:
In this connection (of affordability) – “From 2012 to 2021, the median resident employed household income grew by 26 per cent, while the average selling prices per square foot for BTO flats grew 16 per cent for non-mature estates, and 22 per cent for mature estates.”
https://www.channelnewsasia.com/……/bto-flats-hdb……
I was curious as to how the issue of affordability may look like, if we looked at different time periods
So, for example:
From 2016 to 2021 – BTO prices increased by about 21.6% against a 7.6% increase in the median household income
(Aug 2021 BTO Hougang Citrine non-mature estate 4-room average $$346,000 ($324,000 – $368,000), compared to Aug 2016 BTO Buangkok Woods (Hougang) average $284,500 ($255,000 to $314,000))
(2021 median household income $9,520, compared to 2016 $8,846)
https://www.hdb.gov.sg/……/corppr17082016annex……
https://www.singstat.gov.sg/……/pp-s28.ashx…….
https://www.singstat.gov.sg/……/households/pp-s23.pdf
Another example:
From 2005 to 2021 – BTO prices increased by about 117.5% against a 76.3% increase in the average household income (note: I couldn’t find the figure for the median household income)
(Aug 2021 BTO Hougang Citrine 4-room average $$346,000 ($324,000 – $368,000), compared to 2000s BTO prices (est.) $180,000)
(2021 median household income $9,520, compared to 2005 $5,400)
https://sg.finance.yahoo.com/……/hdb-home-prices……
https://www.nas.gov.sg/arc……/data/pdfdoc/20060628999.pdf
