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Title: Middle income : the new poor and homeless? Sandwiched by the HDB income ceiling
Keywords: Real Estate
Issue Date: 31-May-2010
Citation: HSIEH ZI XIN GINA (2010-05-31T08:35:57Z). Middle income : the new poor and homeless? Sandwiched by the HDB income ceiling. ScholarBank@NUS Repository.
Abstract: In recent years, public housing prices have risen rapidly while the eligibility condition (household income ceiling) for new public housings has not been reviewed since 1994. Public housings may have become less affordable over time especially to the sandwiched households. Most affordability studies do not discuss affordability in relation to household income ceiling and its relevance. The main objective of this study is to examine the affordability of new HDB housings, Executive Condominiums and Private Condominiums to understand the relevance of the household income ceiling and justify its revision, if any. Housing prices have increased more than that of household incomes and the affordability of HDB housing has decreased such that households in a certain decile are displaced and can only afford a smaller unit size than before. However, the deciles that can comfortably afford new HDB housings in 2008 have household incomes of less than $6,000. This is much lower than the current household income ceiling of $8,000. There is no evidence to show that Executive Condominiums have become less affordable. The sandwiched households can generally only afford smaller Executive Condominium units while they can barely afford Private Condominium units. The current household income ceiling for new HDB housings is found to be relevant. The ceiling for Executive Condominium Scheme could be tiered. The ceiling for the larger Executive Condominium units could be raised to about $11,000 while that for the smaller units to remain at the current amount. A new housing scheme that fits between the gap of new HDB housings and Executive Condominium Scheme should be introduced.
Appears in Collections:Bachelor's Theses

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