HDB should hasten building of flats during recession

Source : Straits Times - 14 Apr 2009

DURING the current economic downturn, many private sector developers are holding back on launching new properties.

Building contractors are also affected as they depend on developers’ projects. If they do not have enough projects, they have to retrench workers and this adds to the unemployment rate.

Unlike private developers, the Housing Board already has buyers waiting for their flats to be completed. Normally, buyers would have to wait about four to five years to obtain the keys to their new flats.

Now that building materials are cheaper, the HDB should expedite the development of flats to reduce the waiting time of buyers. At the same time, it will be creating more business in the construction industry and providing jobs for the unemployed.

Michael Yeo