Homes in Hougang cost less than similar ones in neighbouring areas because they belong to an opposition ward, said Minister Mentor Lee Kuan Yew last night. 'If you have the wrong government, your property prices go right down,' he warned. Mr Lee was speaking to reporters after visiting Tampines, where he was showing his support to the People's Action Party (PAP) team in that GRC. Housing has emerged as a hot-button issue in this election, with opposition parties taking the Government to task over escalating costs and offering alternative housing proposals such as reducing new flat prices by paying less for state land, or pegging the price of new HDB flats to median household incomes. Though prices of HDB flats have risen over the past few years, the Government has said that new HDB flats remain affordable, with most buyers needing to come up with little or no cash to pay for their homes. The strategy of having people own their own homes was born in the 1960s, said MM Lee, when the Government saw home rentals going up in tandem with wages in places such as South Korea, Taiwan and Hong Kong.
- The Straits Time, A8
2 comments:
interesting view of how value of housing is affected by being in the "wrong government"...
Hope will have some improvement in time to come.
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