Vikram Nair on public housing motions

The last few years, particularly with COVID-19, have presented HDB with some unprecedented challenges, said MP Vikram Nair. Speaking in Parliament on Monday (Feb 6), he said the main issue faced by his residents in recent times is not so much the affordability, but rather the availability, of Build-to-Order (BTO) flats. He urged HDB to continue to prioritise building flats for those who need BTO flats until the demand has abated. He proposed taking off at least one of the property cooling measures for the resale market which he believes may be driving prices up, namely the Minimum Occupation Period (MOP) for resale flats. He said the MOP is a fair measure for those who obtain subsidised flats but it is not necessary for those who bought resale flats at fair market value. Mr Nair said flat ownership gives every Singaporean a stake in the country. The fact that Singaporeans are able to get onto the property ownership ladder allows all of them to enjoy and benefit from Singapore's economic growth, he added. Mr Nair said home ownership is a worthwhile aspiration for the Government to support. He said HDB has done a "wonderful job" of providing affordable housing for Singaporeans for many generations. He voiced support for the plans to expand and catch up on the building of flats and hopes that this will help to ameliorate the supply crunch of BTO flats.