Singapore was ranked second most
expensive places to build in Asia in 2011 according
to E.C
Harris
There we go again. This kind of accolade we can
do without.
The higher building cost will translate to even
higher housing price as developers want to make profits.
Profitability will peter down to resale prices and eventually HDB
prices. There is a urgent need to put a lid on housing price or
else HDB flats are no longer affordable.
Already there were many feeling the heat.
Bringing cheap labour will breed ugly social problems. The wealthy
including those who earn more than 5 figure a month salary will be
very happy as this means that the value of their house will also
rise. With higher purchasing power they can buy more properties and
this vicious effect multiplies. The social status gap will even
widen further.
Giving higher subsidies to new HDB owners will be
shortlived and will not bring the cost of buildings down. For the
new generation of people whose parents are not wealthy will have to
bear a heavier brunt. How then can you expect the people to get
united?