Can Singapore have appreciating assets and affordable housing at the same time?

Will the world be envy with the current situation that is brewing?

In the past, the PAP sold the policy that public housing can be used as a form of investment and can be used as a form of retirement income. The government’s narrative about “asset enhancement” and “store of value” as far as HDB is concerned is changing. The early HDBs which were sold at $7,000 quickly become $70,000 within 15 years, and later increased to about $200,000 in the next 15 years.

With the inclusion of land cost and HDB prices reflecting the market rates, the cost of housing increased till a point where it took up much of the savings of the couple when they buy the flat and need up to 25 years to service the loan.

Over the years, there were no statements made about what happened when the 99-year leases expire. Many people do not even think about it and assumed that the prices will only increase. PAP’s policy of increasing the population by importing foreigners did boost and increase the housing prices and demands. There is only one way for the housing prices to go — up!

Recently, the National Development Minister Lawrence Wong reminded the public that older flats must be returned to the state when their 99-year leases expire. Overnight, Singaporeans…