.jpg)
No tags yet.
<Source: Singapore Business Review dated 11 June 2018>
Against the trend of home prices in Asia, Singapore is seeing further increase. Second to Hong Kong, where property prices spear north at the highest rate, Singapore also saw growth in prices for private property.
It appears that the sentiment for public housing in Singapore was dented by a statement made by National Development Minister Lawrence Wong who cautioned home buyers not to assume that all old Housing Board flats will be automatically eligible for the Selective En bloc Redevelopment Scheme (Sers). It has been a subject of debate that the public houses may not be an asset afterall. Hence, older public houses saw decline in interest and a dip in transacted prices.
Moving forward, if private properties continue to head north, and reach resistance levels, we may see some home seekers going back into public housing. Especially for those whose homes were enbloc and seek alternative shelters over their head. Therefore, in time to come, it is highly possible to see some closing up of the price gap between the private and public houses. For the simple reason that we all need a roof over our head, and that we also need to maintain our living expenses, we may have to compromise for public housing. Many of us grew up in the HDB public houses and there is absolutely nothing wrong with them!