Curbing property speculations
Mah Bow Tan announced new rulings to curb the hot property market before it starts boiling out of control. The fear of a spiralling high property prices running beyond the reach of the average Singaporeans is a great concern. And now this concern is also creeping into the fear of FTs who will also be aversely affected. And in turn the whole business cost. What seems to be lacking is a clear strategy as to what the property market should be like and how Singaporeans of different income level would be accommodated in the big scheme of things. We have the HDB market, the condo market, the landed properties and the high end market. The different markets can be structured to serve the different sectors of the population, local and foreign, carefully planned to benefit the real home owners and the speculators, balancing a need to keep properties affordable and at the same time a lively speculative markets. We are now seeing piecemeal solutions to a very complex problem.