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SDP launches housing programme: Non-open market flats to solve the problem of depreciating value of HDB flats

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Under the programme proposed by SDP, administrative, material, and labour costs will still be included in the price of new HDB apartments, but the land cost will not, resulting in considerably lower prices

launched its housing policy

They explained that this programme would address the problem of the depreciating value of HDB flats because of the 99-year lease of the land. Bryan Lim pointed out that “As the name implies, however, flats bought under this scheme will not be allowed to be re-sold in the open market,” and that people who wanted to sell their flats would have to sell them again to the HDB.

Part of the SDP’s proposal is for existing homeowners to convert their flats under the NOM scheme, which would entail the Government giving back the difference between “between the original price of their flats and price of an equivalent NOM flat subject to a cap,” the press statement said.

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