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Thread: Khaw eases fears over $1m flat price

  1. #1
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    Default Khaw eases fears over $1m flat price

    http://www.straitstimes.com/archive/...price-20120909

    Khaw eases fears over $1m flat price

    Published on Sep 09, 2012


    News of a Housing Board flat being sold for a record $1 million may be swirling, but National Development Minister Khaw Boon Wan urged Singaporeans not to be "traumatised".

    There will always be "units with fantastic views that fetch fantastic prices", he said of the sale of the executive maisonette in Queenstown, which is still in the works. The price includes a cash over valuation (COV) of $195,000.

    "More important is the larger picture," Mr Khaw said at a dialogue with Sembawang grassroots leaders.

    "Are prices affordable generally for most units? I think we have largely achieved that in the last few months with the pricing of the new Build-to-Order flats."

    At the same time, he noted that the record resale price was indicative of the fact that "in public housing, we can get very good living conditions".

    For example, when the Pinnacle@Duxton flats come onto the resale market in a few years, "there will be many millionaires there", he noted.

    It illustrated a dilemma facing policymakers, he added.

    To avoid having such high resale prices, the Government could just choose not to build HDB flats in the city.

    "But that's wrong," Mr Khaw said. "Are you saying that town is only for the rich? Do HDB-holders not have a right to be in town too?"

    But he dismissed the need for additional measures to cool the housing market, despite public and private prices picking up pace again after a lull in the first half of the year.

    Data from the Singapore Real Estate Exchange last Friday showed that private resale prices rose 4.5 per cent last month over July, while overall median HDB flat prices rose 1.8 per cent over the two months.

    "These month-to-month fluctuations, I won't waste time worrying about it," Mr Khaw told reporters later. "It's the overall picture (that matters), and the overall picture is that the situation now is totally different from a year ago."

    Rachel Chang

  2. #2
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    Has Kenobi-wan betrayed the Jedis? He is asking people not to be fearful of the Dark Side

    Peace in a few corners of the galaxies does not mean the Property Sith Lord is not secretly planning to destroy the Republic
    Ride at your own risk !!!

  3. #3
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    Default

    Where is Reporter1?

  4. #4
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    HDB has better make it clear that new citizens do not get to enjoy huge BTO subsidies immediately after coming to Singapore, and allowing them to sell off for few hundred thousand dollars of profit after MOP. It makes a mockery of Singaporeans who contributed to income tax, National Service or are singles and are barred from buying BTOs (for singles with many restrictions).

  5. #5
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    So new citizen must also MOP in Singapore for say 5 yrs before can buy HDB and another 5 yrs in HDB before they can sell?

    Wah, like that 10 yrs, like EC.

  6. #6
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    Quote Originally Posted by phantom_opera
    Has Kenobi-wan betrayed the Jedis? He is asking people not to be fearful of the Dark Side

    Peace in a few corners of the galaxies does not mean the Property Sith Lord is not secretly planning to destroy the Republic
    Nah lah...he keeps his Jedis happy by sustaining high HDB prices and keeping the republic voters happy...

    In the meantime, in another part of the galaxy, he has launched his deathstar ---- 60yrs leasehold land....which will zap the prices of private property....

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