Non-Open Market flats that do not include land costs in their price should be introduced into the public housing system, the opposition Singapore Democratic Party said yesterday when it unveiled its housing policy at the SDP office in Ang Mo Kio.
The party calculated that, as a result, prices of flats could be substantially lower, ranging from $70,000 for two-room flats to $240,000 for five-room flats. "As the name implies, however, flats bought under this scheme will not be allowed to be resold in the open market," Mr Lim said.Current home owners can choose to convert their existing flats to a NOM flat.
Mr Lim said that the rationale for NOM flats is that the"Government should not profit from Singaporeans when it comes to public housing, and Singaporeans should not use it as a means of investment for capital gain".
RedDot_Oz interesting numbers in article I am not Finacial guru but idea doesn't make little financial sense
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