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http://forum.channelnewsasia.com/viewtopic.php?t=333920
I'm dismayed by a small minority of Singaporeans who want property prices to fall and keep complaining property price is too high. THey are saying this out of their own selfishness because they want to buy property. Once they own property they will want the prices to go up. The PAP has said some things to placate this minority but true actions speak louder than words and govt measures all point to our PAP govt determination to keep prices high and rising.
High property price is good for majority of Singaporeans who are property owners. In fact the govt should do all it can to make property prices go up so that SIngaporeans become richer.
The following methods will help Singaporeans to enhance their assets further:
1. Import more people. Obviously, the PAP govt has done an excellent job in this area. More people means higher rents, more PR means higher demand for flats.
2. Lower the downpayment. The govt cleverly done that by allowing CPF to be used for downpayment. If they can reduce downpayment lower with zero as the target, property prices can go up further and Singaporeans will become richer.
3. Lengthen the loan. Right now only 30 years increased from 10 years in 1970. The govt should now consider 40 years loan or 50 years loan.
4. Restrict supply. Mah Bow Tan has done a great job through the BTO - build only when there are customers. This has resulted in zero slack in the new flats market. They can go further by fine tuning land sales.
5. Smaller flats for the same price. The HDB has been doing that all along. The 5 room flat of today is smaller than 4 room flat of the past. That is why people willing to pay 600K for 3 or 4 room old flats. They should call the new flats that are same size as old 4 room flats delux executive flats and sell higher.
6. Open up HDB market further for foreigners. The govt has done a great job by handing out PR like candy. That means any foreigner can just apply PR if they want to buy flat. Although this has opened up the market to foreigners, this extra step is a deterent and also a farce. Just skip this redundant step and allow all foreigners to buy so long as they have money.
7. Strengthen the link between CPF & HDB purchase. Recently PM Lee came up with this brilliant idea to disallow withdrawal of cash from sale of HDB from CPF. This is excellent. It means people are now forced to use the cash for another HDB purchase that means higher prices if this measure goes ahead.
Overall the govt has done a great job to keep HDB prices high through various measures such as importing PR, BTO and financing schemes. However, there is room for improvement. If they can enhance the average flat to $1M, that means the average Singaporean is a millionaire. ...hopefully they can get us there by asset enhancement. In other countries, people would have to work like dogs to make money. In Singapore, the govt can help you make this money without you working so hard through asset enhancement methods. No other govt is as brilliant as the PAP and Singaporeans are blessed with 20 fold, 30 fold increase in the assets under the PAP....at the same time the PAP govts reserve also increase multifold...this is like magic ...pure magic...and you think only God can perform miracles...
I'm dismayed by a small minority of Singaporeans who want property prices to fall and keep complaining property price is too high. THey are saying this out of their own selfishness because they want to buy property. Once they own property they will want the prices to go up. The PAP has said some things to placate this minority but true actions speak louder than words and govt measures all point to our PAP govt determination to keep prices high and rising.
High property price is good for majority of Singaporeans who are property owners. In fact the govt should do all it can to make property prices go up so that SIngaporeans become richer.
The following methods will help Singaporeans to enhance their assets further:
1. Import more people. Obviously, the PAP govt has done an excellent job in this area. More people means higher rents, more PR means higher demand for flats.
2. Lower the downpayment. The govt cleverly done that by allowing CPF to be used for downpayment. If they can reduce downpayment lower with zero as the target, property prices can go up further and Singaporeans will become richer.
3. Lengthen the loan. Right now only 30 years increased from 10 years in 1970. The govt should now consider 40 years loan or 50 years loan.
4. Restrict supply. Mah Bow Tan has done a great job through the BTO - build only when there are customers. This has resulted in zero slack in the new flats market. They can go further by fine tuning land sales.
5. Smaller flats for the same price. The HDB has been doing that all along. The 5 room flat of today is smaller than 4 room flat of the past. That is why people willing to pay 600K for 3 or 4 room old flats. They should call the new flats that are same size as old 4 room flats delux executive flats and sell higher.
6. Open up HDB market further for foreigners. The govt has done a great job by handing out PR like candy. That means any foreigner can just apply PR if they want to buy flat. Although this has opened up the market to foreigners, this extra step is a deterent and also a farce. Just skip this redundant step and allow all foreigners to buy so long as they have money.
7. Strengthen the link between CPF & HDB purchase. Recently PM Lee came up with this brilliant idea to disallow withdrawal of cash from sale of HDB from CPF. This is excellent. It means people are now forced to use the cash for another HDB purchase that means higher prices if this measure goes ahead.
Overall the govt has done a great job to keep HDB prices high through various measures such as importing PR, BTO and financing schemes. However, there is room for improvement. If they can enhance the average flat to $1M, that means the average Singaporean is a millionaire. ...hopefully they can get us there by asset enhancement. In other countries, people would have to work like dogs to make money. In Singapore, the govt can help you make this money without you working so hard through asset enhancement methods. No other govt is as brilliant as the PAP and Singaporeans are blessed with 20 fold, 30 fold increase in the assets under the PAP....at the same time the PAP govts reserve also increase multifold...this is like magic ...pure magic...and you think only God can perform miracles...
