Discounted but not ‘affordable’: policy to build cheaper rental apartments a boon for Sydney developers
by Anne Davies from World news | The Guardian on (#7130D)
Developers flock to build affordable' housing - but are poised to reap benefits while tenants could pay 50% of post-tax income in rent
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A small block of units on Clovelly Road built in 2021 was granted extra floor space so the developer could add five affordable units, taking the total development to 13. The units, three minutes' walk from the beach, with parking and a bus stop outside, are in a highly desirable spot.
But affordable" they are not.
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