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Khaw Boon Wan: 20,000 new flats to be released next year which will ‘stabilize’ housing market

Posted by temasektimes on August 7, 2012

At least 20,000 new Housing and Development Board (HDB) flats will be built next year which will ‘stabilize’ the red-hot housing market, declared National Development Minister Khaw Boon Wan on his personal blog on Monday.

Mr Khaw added that “the government has made steady progress in ramping up supply and stabilising the housing market” which makes one wonder why it was not done earlier a few years ago when the relentless influx of immigrants led to sky-rocketing prices.

“I expect this sustained supply to firmly stabilise the housing market. This will give Singaporeans many options as they make their flat purchases prudently and wisely,” Mr Khaw said.

Despite the increase in the supply of new flats, the prices of HDB flats, both BTO and resale continue to rise, albeit at a slower rate.



10 Responses to “Khaw Boon Wan: 20,000 new flats to be released next year which will ‘stabilize’ housing market”

  1. Hopeful said

    “I expect this sustained supply to firmly stabilise the housing market. This will give Singaporeans many options as they make their flat purchases prudently and wisely,” Mr Khaw said.

    This is totally unacceptable coming out from a well-paid minister who also has all the resources to solve the housing issues. Mr Khaw, you are paid not to expect some outcomes but to actively create solutions for the wellbeing of all citizens. We pay taxes mind you!

    More could have been done earlier but it’s just too easy to see that the administration is very happy with this situation. Sick…

  2. Darren Tan said

    Their knee jerk reaction to the housing shortage caused by the last joker in charge has caused the whole construction industry to become a big mess … damn idiots screwed up everything just so that they could cover their own asses

  3. i say what i think only... said

    define stabilise. drop? rise slower? flat? it is expensive from the start. dropping is not an option to government. so the only way is up.

  4. Living in the mercy of ppl,who approve the building of HDB flats. said

    Thank you khaw for releasing more hdb flats. If it was an election year, I am pretty sure more than double the flats would be built.

  5. oldguard said

    Stabilise my foot, 20,000 can stabilise the market, who are you kidding. How do you price the flats and how do you calculate the valuation. HDB is suppose to be for Singaporean and should be heavily subsides, where is the subsidy.

  6. tyu said

    He is merely correcting what MBT did wrong.
    What so great about it?
    MSM spinning that he has done a great job, my arse!

  7. Singapuraboi said

    Just dont get it! How come our ministries don’t review their policies regularly. Why do our govt swing from one extreme to another. We have mah bow tan who curtailed Hdb construction and thereby driving Hdb prices sky high, the now we have another clown who swing things to the other extreme by over building. Shouldn’t things be carefully monitored and adjusted so we don’t have housing shortages or that our housing values get out of hand or depreciate drastically. Aren’t we always so proud of being a social experiment and our country is one huge social lab? Then why aren’t things carefully monitored? If u want to know what extreme policies can do, you need not test it out here, simply look at the US and the other countries for examples of unhealthy extremes.

  8. Sgt33 said

    I am not interested in how many flats you build but how you price them.
    The govt. Is not suppose to make money from it,s citizen. What good is this.

  9. Dont know what to say or think anymore said

    Savings already dried up, after a split, and then we have to wait for 30 months to get a flat, meanwhile the rental went sky high and the resale flat just keep going up. In Canada as long as you are not a citizen, you have to live there for 10 yrs before you can buy a subsidized flat. Now the Spore citizens who are aging can’t do anything but to empty the cpf funds to buy a resale flat because it is better to pay the mortgage then to pay rental and there is no certainty that the price will come down when supply will take a long time to suffice the demand. 2 yrs, 3 yrs 4yrs?? Moved 5 times already. Retirees can only now think of taking extra job to pay for children’s education and a roof over the head….sigh….. or migrate we are like useless people who have contributed to the growth of the country and now left to fend for ourselves, because the govt will only give priority of BTO, balance flat to newly weds for the sake of procreation. The divorced, widowed are not in the priority list.

    Rules and more rules come out against the singles and divorced.

    No wonder there are so many needy. One has to be down and out to qualify for the grant…sigh…soon I am going to be one of the needy, sure don’t wish to be one.

  10. Sgsiol said

    hey khaw boon wan..u better go and change the policy bout buying and selling..y must wait 5yrs??give those fully paid priority to sell the house after a year or two..bcos if i sell house after a year or two u hdb didnt lose money but u gain wat..some more those stamp duty la tit and tat..evrytime u pple hdb suka suka change policy..ur flat not cheap ok it damn expensive to low income pple like me..think la dun be so selfish…anyway i dun use any money assistance or donation money to buy a flat it mine own cpf and cash..if a flat already change so many owner how much have u earn frm ther..think ok..

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