The upshot under PSP Leong Mun Wai’s housing proposal is that anyone who wishes to sell their flat will be required to pay land costs with accrued interest. This will be a huge lump sum payment at the time of sale.
For simplicity, we assume 100% loan.
'Condemned' to HDB living in the same flat for life
Is Leong Mun Wai's cheap housing really 'cheap'?
Let’s do further scrutiny.
(i.e. 269,327 – 140,000)
Why would anyone want a scheme that appears cheap but is actually very expensive?