Dawson Koo /

21 May 2011 denotes a significant milestone in Singapore’s history. Mr Mr Mah Bow Tan finally bowed out as the Minister for National Development (MND), after 12 years at the ministry. He will most likely be remembered for allowing prices of HDB flats to skyrocket in recent years, while he continued to insist on their affordability during his election campaign in April 2011. He failed to plan and anticipate demand, resulting in it outstripping supply.

Mr Mah incurred the unhappiness and dissatisfaction of many young Singaporeans whose salary didn’t keep pace with the rise in prices of flats.  As a result, voters in his constituency of Tampines GRC slashed his vote share by almost 10 per cent from the 2006 elections to below the national average of 60 per cent.

Singaporeans’ unhappiness included having to resort to buying resale flats at sky-high prices, and be ladened with a 20 to 30-year debt. Balloting for a flat also became a blind stab in the dark, with many complaining that they were still unsuccessful after numerous attempts.  The last proposal put up by Mr Mah before the elections, at the eleventh hour, is to increase the $8,000 income ceiling on flats to perhaps $10,000. This did not quell negative sentiments, instead he was accused of making things worse. Raising the ceiling meant that more people would join the queue, straining further the problem of insufficient supply.

One of HDB’s mottos is Providing Affordable, Quality Homes (available on their website) and it is one of the main goals for its establishment in February 1960. However, it seems that the HDB may have forgotten this goal. How can housing be affordable today when our CPF monies are almost emptied by the time we retire? With the continual rise of HDB prices, how will our current and future generations be able to afford a home?

Mr Khaw Boon Wan to the rescue?

After the elections, Mr Mah “stepped down” as MND Minister and Prime Minister Lee Hsien Loong appointed Health Minister Khaw Boon Wan to take charge of housing.

Mr Khaw promptly got to work right from the get go. During his first few weeks in office, he introduced a number of new initiatives. He first pledged to make “housing and HDB Singaporeans’ popular icon again“. Next, he started a new blog called Housing Matters at mndsingapore.wordpress.com. He ordered HDB to build flats ahead of demand in order to keep a healthy supply of them in the market.

On Sunday, he announced what could be a significant change in mindset by promising that more rental flats would be built for the poor and needy, to the tune of “tens of thousands”.

Analysts interviewed by Channel NewsAsia are optimistic that the property market may see further major changes under Mr Khaw’s leadership.

Colin Tan, head, research and consultancy, at Chesterton Suntec International, wrote an interesting article in the Today newspaper titled “Will there be a housing market overhaul?”  on 27 May.

He wrote:

“I have been asked what I hoped for in new policies under Mr Khaw. I say, put aside for the time being, our goals of elevating Singapore to hubs of excellence in the various fields. Let us get our priorities right first. The rest will follow naturally.

As I see it, our new minister has two major problems that he has to deal with urgently – the seemingly unabated robust demand for new public housing flats despite the significant rise in supply. He has to isolate those buying in advance or panic buys from those needing their flats urgently and to help this latter group first.

The second is how to deal with the excessive liquidity that is flowing into property – primarily into housing.”

Only time will tell if Mr Khaw is a game changer and if his initiatives will live up to his promise.

For now, Mr Khaw is hitting all the right notes, quite different from the dissonant tune his predecessor had been singing. But there is still more to be done in terms of the affordability of public housing flats and this remains Mr Khaw’s biggest challenge.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
You May Also Like

【冠状病毒19】10月7日起至20日 沙巴落实出入境限制

沙巴从明日开始落实出入境限制,即从10月7日至20日,禁止民众从沙巴到西马、砂拉越或纳闽,也禁止民众从西马、砂拉越和纳闽进入沙巴。 马来西亚国防部高级部长依斯迈沙比里今日(10月6日)发文告指出,基于日益增加的冠状病毒19确诊病患中,大部分都曾到访沙巴,因此政府将对沙巴落实有关限制,以遏止疫情继续扩散。 他指出,虽然如紧急事故或必须服务事项将不受到出入境限制影响,但是都必须事先获得卫生部的批准。

【选举】被指非社服培训学院创办人 黄玲玲:是草创团队成员

新加坡人民行动党宏茂桥准候选人黄玲玲,日前自称成立了社会服务培训学院(SSTI)。但一名网民申诉,主要创办人另有其人;致使黄玲玲今日澄清,自己与创办人都是草创学院时的团队。 身为筹款公司Rainmakerz创办人的Richard今早(6月29日)在脸书上帖文指出,社服培训学院是由陈美香(Tan Bee Heong)创办,黄玲玲是随后加入的。 于上周四(6月25日)的行动党准候选人介绍会上,前卫生部社区联系司长及未来基层医疗项目主管黄玲玲指出,“我成立了社会服务培训学院(SSTI),并分配资金,以确保社会服务机构能够执行重要的计划”。 Richard指出,他对黄玲玲的一番虚假言论感到非常不舒服,深思熟虑后决定将其公布。 他在帖文中指出,“我相信黄玲玲提供了错误讯息。她并没如其行动党短片中说的那样,成立国家福利理事会(NCSS)旗下的社服培训学院。该学院创办人为陈美香。我相信美香和国家福利理事会前会长余福金,能够证实这一点。” “选择用词是非常重要的。当你只是一名参与成员时,不能公开宣称你成立了一个团队。这是非常具误导性和欺骗性的。” “据我了解,她(黄玲玲)是在学院成立后才加入的。我相信我的一些学院前同事可以证明这一点。” Richard指出,他在2014年至2016年期间,都是直接和时任学院助理主任的黄玲玲汇报。虽然他祝福黄玲玲在政治路上一切顺利,但是“与她合作了两年,我不会将票投给她”。 网友也促请黄玲玲尽快作出澄清,“我希望她能澄清这一事实,因为她将承担政治责任,诚信和诚实是至关重要的”。 他也表示,自己并不属于任何政党,只是想公开真相,因为人们正在推选未来的领袖。他也促请人民行动党秘书处正视此事件,并展开调查。“若我错了,我愿意道歉并纠正。”…

GE2020 Debate: SDP’s Chee Soon Juan and PAP’s Vivian Balakrishnan argue on fiscal spending and 10 million population

People’s Action Party (PAP) candidate Vivian Balakrishnan stated that some of the…

职总企业将收购咖啡店集团

职总创优企业合作社(NTUC Enterprise),将收购本地咖啡店和小贩中心运营商Kopitiam集团。 职总创优企业发文告指出,交易预计今年底完成,惟仍待监管部门批准。职总企业认为,他们与咖啡店集团拥有共同经营理念,即提供可负担且实惠的美食。 执行董事纪德坤声称,职总企业将善用综合优势,提升并打造国内有活力和弹性的日用品行业,最终咪表乃是为客户提供更好体验、为员工和其他相关利益者创造机会。 职总企业强调,收购策略符合职总企业的社会使命,为新加坡社群的利益服务。收购也进一步完善和提升现有熟食业提供经济实惠美食目的。 职总企业旗下八大社会企业,在保健和乐龄护理、孩童护理、日用品、熟食和金融领域,为民众提供可负担和有质量的产品和服务。 “特别是在熟食业,我们透过职总富食客提供可负担、有素质和健康的用餐选项。为调控价格,职总富食客旗下小贩中心和咖啡店,每个摊位独有提供2元至2.80元的经济套餐。” 此外,还有针对低收入消费者的“禾园”社会关怀计划,为消费者提供1.50元起的实惠健康套餐。 1988年创办的Kopitiam,如今拥有56家食阁、21间咖啡店、三个小贩中心和两个中央厨房。集团旗下有上千名员工,管理1000多个熟食摊位。 职总富食客(NTUC Foodfare)旗下则有33家食阁和咖啡店,包括14家食阁、10间咖啡店和九个小贩中心。 收购完成后,富食客和Kopitiam将继续独立营运,现有管理团队和员工不会更动。客户、摊位租户和其他相关业者可以照常运作。