Building HDB flats on prime sites may not bridge rich-poor divide, says Minister
Published on Feb 25, 2015 8:57 PM
By Rennie Whang
SINGAPORE - Building HDB flats on prime land is not the panacea for bridging the rich-poor divide, Minister for Social and Family Development Chan Chun Sing said today.
This is because there then arises questions of how to allocate the flats, of cross-subsidies and even whether there would be interaction between the various residents.
Speaking at a panel at the inaugural Real Estate Developers' Association of Singapore (Redas) Mentorship Programme, which was attended by about 50 students from the National University of Singapore (NUS) and the Nanyang Technological University (NTU), Mr Chan said: "Is it fair for someone to 'tikam' (Malay for taking a random chance), ballot and pay an artificially low price for a flat in the heart of Downtown, and five years later, after the Minimum Occupancy Period, enjoy a windfall?
"What this means is, those who did not get the flat through the ballot are cross-subsidising them."
- See more at: http://www.straitstimes.com/news/si...ich-poor-divide-says-min#sthash.iRYipmlr.dpuf
so much for efforts for poor sinkies to integrate with the rich FTs.
Published on Feb 25, 2015 8:57 PM
By Rennie Whang
SINGAPORE - Building HDB flats on prime land is not the panacea for bridging the rich-poor divide, Minister for Social and Family Development Chan Chun Sing said today.
This is because there then arises questions of how to allocate the flats, of cross-subsidies and even whether there would be interaction between the various residents.
Speaking at a panel at the inaugural Real Estate Developers' Association of Singapore (Redas) Mentorship Programme, which was attended by about 50 students from the National University of Singapore (NUS) and the Nanyang Technological University (NTU), Mr Chan said: "Is it fair for someone to 'tikam' (Malay for taking a random chance), ballot and pay an artificially low price for a flat in the heart of Downtown, and five years later, after the Minimum Occupancy Period, enjoy a windfall?
"What this means is, those who did not get the flat through the ballot are cross-subsidising them."
- See more at: http://www.straitstimes.com/news/si...ich-poor-divide-says-min#sthash.iRYipmlr.dpuf
so much for efforts for poor sinkies to integrate with the rich FTs.
