Source : Straits Times – 19 Sep 2009
I AM writing with regard to Thursday’s letter by Mr Lim Hing Kok, ‘Four ways to bring down flat prices’.
First, Mr Lim says HDB owners should occupy their flats and not leave them vacant. I believe HDB already has this rule. Most HDB owners are single property owners and they live in their own homes. Only a small minority leave their homes vacant. Thus the impact is minimal.
Mr Lim’s second point, that HDB owners should move out when their incomes reach a certain level, is not practical or logical. Is he saying a couple who work hard to increase their incomes over the years will be penalised?
Third, he infers that those who earn more than $8,000 should not be allowed to buy a flat below $400,000. Why penalise a prudent buyer? Someone with $1 million may choose to buy a $300,000 flat. What is wrong with that?
As for Mr Lim’s final point about taking agents out of the equation, more than 95 per cent of all HDB transactions are done through agents. They do not set the prices. All transactions take place only when a willing buyer and a willing seller agree on a price. Prices will continue to remain high until HDB builds more flats to satisfy the demand from house-hungry buyers.
Albert Ephraim Wong
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