Yesterday, The Strait Times just published an article that not only insist that housing in Singapore is affordable, it also state that home buyers are creating problems for themselves because they buy bigger places than they can comfortably finance.
It then went on to say Singaporeans also want to live in 'mature' towns or to be near their parents for the selfish child-minding convenience. It then added; “If they choose to be obstinate about quirks, they should not be hectoring the HDB for impossible concessions.”
Now almost everyone knows and accept that The Strait Times is the mouthpiece of the Singapore government, but even by that standard this is a strange one. I have argued a few days ago that houses in Singapore are more expensive than it was 10 years ago and that I know of no Singaporeans who would say that property is more affordable now than 10 years ago.
Now I can understand The Strait Times wanting to defend National Development Minister Mah Bow Tan’s statement that property in Singapore are still affordable, but this article The Strait Times put together make no sense.
First off, don’t the Singapore government want children to live near their parents? Because if I read the article right, it doesn’t. The Strait Times seems to be saying that we shouldn’t and that families should be spilt apart, the further the better. Maybe it’s back to the idea of throwing old parents to old folks home in Malaysia.
Also I want to know what’s this “homebuyers creating problems for themselves because they buy bigger places than they can comfortably finance.” Most Singaporean I know are just aiming for a 3 room flat; is The Strait Times arguing that Singaporeans should just aim for a 2 room flat and give all 3 room/4 room flats to foreigners?
Because that’s the real reason why property prices are so high now isn’t it? Singapore’s Prime Minister Lee Hsien Loong has said that for the past few years, Singapore has accepted more than 100,000 foreigners per year. Now there are 100,000 new foreigners each year. Even if you squeeze them 10 to a flat, that’s still not enough because HDB only built something like 8,000 flats per year. That’s not even counting our own Singaporeans!
And that’s why property prices are sky high now. It’s simple maths. Maybe The Strait Times can try it sometimes.