Housing prices was one of the reasons why the ruling People’s Action Party (PAP) won the General Election 2011 (GE) with a lower majority last month. Housing prices has shot up through the roof in recent years and the PAP had promised to lower property prices.
If they are serious about it, then they better hurry!
A five-room HDB flat in Tampines has been put on the market with a whopping S$880,000 price tag. Even in Singapore, that price caught the eyes of many. Many are shocked at how a public housing flat could be valued at $750 psf when it’s not even in the city area. Even property agents were shocked by the price.
So it seems that despite promises and efforts by National Development Minister Khaw Boon Wan, housing prices are still increasing. And not to be cynical about it, but since it will be 5 years before the next GE, I have to wonder how much higher property prices will go?