PAPpy dogs are really useless. Failed to address the root problem of rocketing rental and still blame us for not allowing them the option of bringing in foreign trash to provide cheap labor.
The PAP are the root cause of the high rent anyway, They are not addressing it because they are making too much money in the property market now. Let me paint this picture to you.
The PAP expropriate land and pays the owners pennies on the dollar. They rezone the land and than eventually sells it to developers. But they set a minimum floor price on the land that is 1000 times more than what they paid for it when they expropriated it. The developers buys this marked up land from the govt., and than has to build a new shopping centre on the land. As you have mentioned, all the costs are high in SIngapore. Maybe labour is a little bit cheaper because they high foreign workers, but must still pay visa fees for them. In the end, shopping centre is build, but it costs a lot. How to recover the investment? Well. must charge more rent, right?
But wait, the shop owners must have the good number of customers, otherwise they will go broke paying the rent. Don't worry about that, the PAP will take care of that for you. Let in more and more people lah. 5.5 million not enough, can go to 6.9 million. Inside City Square, there is NTUC and all that, sure got more foot traffice when more people are allowed into the country. In addition to all that, so many GLCs are property developers, as well, many MIW and PAP elite own commercial property. Arethey interested in seeing the rent increase? Of course. They just wait for people like City Square to raise the rent and than use that as a guideline for their own rental increases too.
Ask yourself something. If the HDB sells u a flat at actual cost, than you would be paying maybe $80,000 for a 4 room flat. Your mortgage would be only $60K, and your monthly payment is about $600 a month. If you only have a mortgage payment of $600 a month, can you afford to take a $1500 job and still survive? Sure you can you. If you can afford a $1500 job a month and survive, than do we still need low cost imported FTs to remain competitive? No, we don't.
These are the implications of the fucking PAP policies. People need to open their eyes and wake up their ideas.
