FREEING UP FLATS IN MATURE ESTATES
'Give $40k subsidy' to get parents to join kids in newer towns: Analysts
That is minimum needed to get them to join kids in newer towns: Analysts
Published on Jul 21, 2014 6:42 AM
At least $40,000 in subsidies. Residents, analysts and agents believe that is the minimum needed to entice people living in mature towns to join their grown-up children in newer ones.
Even then, the take-up rate is unlikely to be high, they told The Straits Times, because it will be hard to convince parents to uproot themselves from familiar surroundings.
To strengthen family bonds, National Development Minister Khaw Boon Wan said last week that he would look into providing incentives for parents in mature estates to move out. This would allow children who wish to join their parents in mature estates to have a higher chance of buying the freed-up flats.
But even before the details have been rolled out, analysts and residents are lukewarm on the idea. For instance, office manager Lucy Kuah's eldest child lives in Sengkang, but the 59-year-old will not leave her four-room Bukit Merah flat to join him - with or without the incentive.
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