Asked by Khalil Adis
I would like to thank everyone for their comments. The issue on public housing deserves to be raised because the mainstream media has laid the blame squarely on Singaporeans for not planning ahead. As the statistics show, the HDB has not been building sufficient flats to meet with the growing and changing population. Why then should Singaporeans pay the price for the government’s flawed policy and oversight?
In addition, the escalating prices mean young couples and singles will be highly leveraged. Will they have enough for their retirement? Already flats in Telok Blangah and Marine Parade are asking for almost $1 million. Although the HDB has promised to build more BTO flats, this will not solve the current problem, as these flats will only be ready in 3 years time. Therefore, till 2013, Singaporeans will have to deal with rising prices of HDB flats – something that will put young couples and singles at a disadvantage. Only PRs who sold their flat and returned back to their homeland can truly benefit from the price appreciation, but at the cost of the buyers – Singaporeans. What then does it mean to be a Singaporean?
In addition, the escalating prices mean young couples and singles will be highly leveraged. Will they have enough for their retirement? Already flats in Telok Blangah and Marine Parade are asking for almost $1 million. Although the HDB has promised to build more BTO flats, this will not solve the current problem, as these flats will only be ready in 3 years time. Therefore, till 2013, Singaporeans will have to deal with rising prices of HDB flats – something that will put young couples and singles at a disadvantage. Only PRs who sold their flat and returned back to their homeland can truly benefit from the price appreciation, but at the cost of the buyers – Singaporeans. What then does it mean to be a Singaporean?
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