BTO flats affordable for first-time buyers: Khaw
The prices of new HDB flats have gone up by 12 per cent since January 2009, lower than the 34 per cent rise in the HDB Resale Price Index (RPI), National Development Minister Khaw Boon Wan said in Parliament on Friday.
He said homes for first time buyers are affordable
"We take affordability fully into account when pricing BTO flats. New flats enjoy generous discounts off market prices," Mr Khaw said, replying to a question from Er Dr Lee Bee Wah (Nee Soon GRC).
But Dr Lee said that even a 12 per cent rise in the prices of new flats is high because salaries may not have risen at the same pace. She asked if the Government could keep prices from rising.