SINGAPORE: Build-to-Order (BTO) flats remain affordable, with flat prices moving in tandem with incomes, said Deputy Prime Minister Lawrence Wong on Monday (May 1).
Speaking during the May Day Rally, Mr Wong said: "When you think about affordability, please don't just look at the headline price of the BTO flat; also consider how the price relates to income, as well as the proportion of income that's needed to service the housing loan."
The typical household currently uses less than 25 per cent of their income to service their home loan, like in 1980, he said in his speech.
Speaking during the May Day Rally, Mr Wong said: "When you think about affordability, please don't just look at the headline price of the BTO flat; also consider how the price relates to income, as well as the proportion of income that's needed to service the housing loan."
The typical household currently uses less than 25 per cent of their income to service their home loan, like in 1980, he said in his speech.