Who is talking strange?
There is no property bubble, yet. Did anyone see the elephant inside the classroom? No, where got elephant? Property prices are hitting the roof, demands are incessant looking at the queues at property launches despite the record releases of new BTOs. Maybe it is all carefully managed and expected. Within expectation. The govt will not intervene in the property market and if it does, ‘we do it only because we want the market to work better’ said Mah Bow Tan. So no need to panic, no need to complain, the market is working better. Better for who and in what ways? The govt did not intervene when the population shot up by more than 1m people. The govt did not intervene by building more flats to meet the demand. Maybe it was managed to be that way. Or maybe they did not know that the population had grown disproportionately and no need to intervene. The govt prefers to leave it to market forces, supply and demand. The two cases of Ten Mile Junction and Tampenis were an aberration. The low demand was not due to market forces. And the developers will buy low to sell at big proft. Cannot be like dat. So when the prices are low when there is no demand, don’t release the sites. Afterall the govt has the responsibility to make sure that state land gets a good price. All perfectly sound argument. Not talking strange. And today, there is no property bubble yet. Everyone is happy, the govt is happy, the developers are happy, the speculators are happy, the home buyers are happy, the owners of all properties are happy. We have a perfect situation with everyone happy. This is how clever the property market it being managed. I am not talking strange either.