Cooling measures by raising price and increasing inconvenience does not work!

Everytime the government announces cooling measures, it just drive up costs in the long run.

Million dollar public housing? Why is this something to be proud of? 45 HDB sold for more than $1M in Sept 2022. All in the midst of uncertainty, inflation and Ukraine war. Many people are under employed and yet prices of public housing goes up. Why?

1 main reason — Rentals! I would say that I have many Malaysian friends renting HDB flats, some even rent whole units (With 6 people occupying the flat) What does this mean? It means that some Singaporeans have another home and earning $$$ from rental!

I was talking to a realtor friend who knows a PRC realtor that has clients that are new citizens. The first thing the PRC realtor tells them to do is to buy a resale HDB flat. “If you have money, just buy a HDB flat! Don’t need to think about condo fees, no garden to maintain. Buy it and store your things inside. You will definitely make money when you sell even if you don’t rent it out!”

This is a common advice given, and I guess they all learn that when people continually pay and buy, it will keep this bubble alive!

I have also a friend from India who recently got his PR, and yes, the first thing on his list was to buy a HDB…