Singapore, 10 Feb 2023 started by applying for Singapore’s version of a golden ticket – also known as securing a new Build-To-Order (BTO) public housing flat in a mature estate through the Housing and Development Board’s (HDB) sales exercise.
After trying and failing six times, the couple turned to the resale market, where they found themselves constantly getting outbid by other buyers.
Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, called for more granular data that separates mature estates from non-mature estates, and various flat types, instead of using just one benchmark to measure housing affordability.
She also suggested factoring in interest accrued over 25 years for a more accurate picture of how much a homeowner is actually paying.