Today, Hazel Poa Koon Koon 潘群勤 and I moved a motion in Parliament to call upon the Government to review its public housing policies.
In my speech to open the debate today, I discussed the many problems that are now associated with public housing, such as the unaffordability of resale flats, depletion of our CPF savings to pay for mortgages, lease decay, and the negative impacts of long waiting times for BTO flats on family formation.
I also proposed the PSP’s two concrete solutions to these problems:
(1) The Affordable Homes Scheme, which proposes that flat buyers do not have to pay land cost when they buy a new flat from HDB. Instead, payment of the land cost will be deferred and paid only if the flat is sold after the Minimum Occupation Period. This means that flat buyers who buy flats solely for owner-occupation will not have to pay land cost, which will greatly lower the cost of housing for such buyers.
(2) The Millennial Apartments Scheme, which will make quality flats available for young couples and groups of singles for long-term rental (2 to 5 years) at affordable rates. This will provide young Singaporeans with more options for affordable housing.
I invite all Singaporeans to find out more about what I have raised today through the graphics attached to this post or by reading my full speech here: https://leongmunwai.sg/psp-housing-debate-concrete…/
Together, we can make public housing more affordable and accessible and create a brighter future for all Singaporeans.
Singaporeans deserve better.
For Country For People.