Apr 16, 2011 - Straits Times
LOWERING land cost as a way to reduce new Housing Board flat
prices is tantamount to raiding Singapore's reserves, warned
National Development Minister Mah Bow Tan on Saturday.
This is because all land is sold at prices set by the Chief
Valuer, and the land sale proceeds go into the reserves.
In the latest salvo on the hot-button housing issue, Mr Mah
stressed that as the number of new HDB flats is not a small, any
lowering of prices will inevitably affect the value of existing HDB
flats.
Mr Mah was responding to a call from Workers' Party chief Low
Thia Khiang who had suggested that if the Government was prepared
to collect less money for land sales, the savings could be passed
on to first-time home buyers.
Speaking to reporters on the sidelines of a ground-breaking
ceremony for an upgrading exercise for Tampines, which will see a
new town hub with facilities such as a sports hall and a new park,
Mr Mah declined a debate with the National Solitary Party, which
has announced it is contesting the GRC.
Mr Mah said there is 'nothing to debate' as his positions on
housing and various policies are well known.
With the minister at the community event on Saturday morning
were newly-introduced People's Action Party (PAP) candidates Heng
Swee Keat and Steve Tan.
Mr Heng, the former managing director of the Monetary Authority
of Singapore, said he welcomed the contest by NSP at Tampines and
was looking forward to getting to know the residents better.
