I live in Toa Payoh and get almost a tray full of ads asking me to sell my HDB flat. Almost once a week, an agent would knock on the door to ask whether I want to sell my HDB flat to make a profit.
While I get it that maybe people may be interested to buy a HDB flat in the area, having this large amount of ads is really mindblowing. (Average 2–5 a day)
I get it, somehow the government wants people to believe that their overpriced public housing is an asset. And many people has gotten rich “flipping” properties and deal with real estate. However, I was just wondering, how healthy is this, especially when we are driving up prices of “public housing”?
In the news, it is common to see HDB flats selling over S$1M. I don’t even think this is right. I strongly feel that housing is a basic human need, and when people speculate and make money in real estate, making even public housing unaffordable — something is very wrong.
Many household incomes are still not so high, what’s worse is that singles are not allowed to buy HDB flats till the age of 35. And by the age of 35, housing prices have gotten out of hand. Even when they can afford new public housing, they face the limitation of being able to buy only 2-room Flexi BTO units.
