Newly sworn in Minister for National Development Mr. Khaw Boon Wan, former Health Minister who has replaced Mr. Mah Bow Tan has pledged in his final outgoing blog post as a Health Minister to make housing and HDB Singaporeans popular icon again.
I am only driven by one thought: housing is one of the greatest achievements of Singapore, and our pride. It is very sad to see it being hammered left, right and centre in the lead up to and during GE.
I am determined to make housing and HDB Singaporeans’ popular icon again.
Please help me, my friends.
It is going to be interesting to see what kind of policies will Mr. Khaw introduce since HDB forms up 80% of heartlander’s stay. It’s quite safe to say that any new changes that is going to be introduced into the system will be tough to adjust the current prices. Mr. Mah Bow Tan has tried increasing the supplies of flats, introduced harsher seller’s stamp duty rates during his course, but the median Cash Over Valuation (COV) hasn’t seem to revise downwards too much.
Of course supplies that has been introduced will take time on the system on the price action since they’re just in the pipes which hasn’t been built yet. Any changes done now will fiscally alter the prices once the supplies are in the market.
Also, should the policies be too drastic, foreign investors would probably slow or halt their investment portfolio in Singapore. If Mr. Khaw could just tilt his policies more to adjust the public housing woes for the mid-tier families instead of affecting the free market on private housing, it would be perfect.