Formula for Pricing Rental Flats under Parenthood Provisional Housing Scheme
- Mr Png Eng Huat asked the Minister for National Development about the pricing formula for rental rates under the Parenthood Provisional Housing Scheme (PPHS), the costs involved, the number of applications for 3-room flats, and whether rates could be lowered to boost demand for larger flats.
- Minister Khaw Boon Wan explained that PPHS rents are set based on flat type and location, and are 40% to 60% lower than market rents in the vicinity.
- The costs of providing PPHS flats include retrofitting, management, and maintenance.
- Applications peaked at 409 last September but have since dropped to 81, with over 900 of the 1,150 flats taken up, leaving some larger flats available.
- The government is considering allowing couples to co-rent larger flats to improve take-up rates.