Reining in property prices
More residential units in suburban areas for upgraders. This move is to curb the high property prices that is running out of reach of Singaporeans wanting to upgrade. With the kind of salary that the average Singaporeans are getting, it is unlikely that they can afford the kind of prices of private properties unless they want to pay for them for life. Would the new measures help? Executive condominiums with some restrictions on income level should keep the very rich out of this market. So the average Singaporeans can compete among themselves. Sounds ok. But with an average intake of 50k PRs coming into the market annually, how is this going to make a difference? Are PRs entitle to buy exec condos? I think so. So how much will this affect the opportunities given to Singaporean upgraders?