To address housing affordability, the SDP proposes introducing the non-open market (NOM) scheme.
SDP argues this will make homes cheaper because the cost of an HDB flat will only include the cost of construction and administration.
It said HDB flats with 99-year leases will be built on land specially zoned for public housing and not contain a land cost component. This is unlike the current HDB practice of including the cost of land in public housing.
SDP said it believes the NOM scheme can offer 2-room flats at around $90,000; 3-room at $120,000; 4-room units at $200,000; and 5-room apartments at $270,000.
It added that studio apartments with 30-year leases can be sold for around $40,000.
SDP proposes NOM flats only be sold back to HDB at the purchase price less the consumed lease, and their leases cannot be transferred in the HDB resale market.
It suggests current owners of open market flats will have the option of converting to the NOM scheme, where the Government will return an amount based on the original purchase price from the HDB and the price of an NOM flat of the same type.
HDB will also hold a buffer stock of HDB flats to enable Singaporeans to obtain their flats with minimal waiting times.
For education, SDP’s manifesto proposes doing away with the PSLE, offering interest-free student loans for all undergraduates, and nationalising all preschools to make preschool education affordable for everyone.
Source:
https://www.straitstimes.com/singap...ts-to-sell-for-up-to-270000-do-away-with-psle
