The Real Problem Is Not the Cost of the Government

If every new home owner buys a BTO flat and willing to wait it out, the refill market will collapse. So instead of having BTOs where they build to order, what if the government built first and then released the flats? That was the policy that was followed actually in the 90s. The real problem is when you've got a huge number of unsold flats, everybody knows that there are unsold ready flats the government has in stock. Then if you're looking to buy a refill flat or if you're home or not looking at your property values, that will definitely have a negative effect on values.