As we all know recently , Sim Lian a private developer’s recently launch a Design and Build Sell Scheme(DBSS) in Tampines . With prices reaching up to $880 000 causing a stir in the media and raising the concern of the electorate. Making the matter worse , it was done in the backdrop of a recently concluded election , Where cost of living was an important issue in the citizens mind and is freshly imprinted into the mind of the electorate.
The DBSS is not a new scheme , in fact it has been around for quite some time , With the its first project being ” The Premiere” in Tampines , which ironically is being launched by Sim Lian , yet then the cost of its biggest 5 room flat was only around $450 ,000 , fast forward today a similar DBSS flat in Tampines set a record prices for a new public flat. So why the large differences in prices?
Adding to all the Whoo Ha is also the fact that our esteem minister Mr Khaw commented that DBSS is not HDB , Which led to an public outrage as many felt that DBSS is in fact HDB jurisdiction and have pointed out the fact that is indeed governed under HDB . Despite the outrage , personally I agree with Mr Khaw that DBSS is not the same as your typical HDB flat , But there is no denial that DBSS is a public housing , which in the end of the day was meant to provide affordable housing to the public.
In retrospect , Sim Lian does not deserve to shoulder majority of the blame , after all as a corporation its main goal is to answer the shareholder and make profits . In which ethics is not a main concern , if the company has ethics it is good . But if it lacks such a moral conduct , it is sadly not against the law. The question would rather be , why doesn’t HDB have a price control mechanism at place . Afterall does a public housing deserve to be priced similarly as a condo ?. These are question to be answered.
However , not all responsibility lies in the government . After all we Singaporean are a funny kind , despite the complains of such high price “The Centrale” was ironically oversubscribed . Which is amazing , as these talk and outrage does not translate into an effective action. It’s like a kid complaining that a bully is very rough , yet at the same time he proceed to become best friend with the bully. So I wonder is it really fair to blame Sim Lian to priced their flat as such , when there is a demand for so. Because realistically speaking , in economics when there demand for a limited supply , Prices will go up. If you want prices to go down , you just reduce your demand. So if they really felt that the prices was to high , why not boycott such a sales? forcing these private developer to drop their prices? . In a certain sense , how do you expect the government to take action , when the result don’t show the need too!.
Perhaps it time for us as Singaporean , to take time to reflect on such a behavior . Because if we want the government to start making changes and take action , perhaps its time for us to stop being a living contradiction.
To understand the demand for DBSS despite it’s price one has to consider the overall Market including high private property prices, high resale HDB prices.
Too many foreigners / PRs / investors, too easy access to money… changes behaviour.
Buyers are goaded into spending more than they sensibly should in a mix of desperation, fear of runaway prices, and greed for profit.
No doubt that government polices may have contributed , such as ease of credit and what u have not mentioned , the only few way to effectively utilise the CPF.
But when buyer get goaded isit it more of human nature and greed , making us the living paradox that i have stated
hi
Hi back to you
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Your article has made several assumptions or presumptions and therefore ended with an erroneous understanding of the property market in Sg.
I realized this is pretty true with most bloggers.
Goodness, where do you ppl get your education from anyway?
Considering the fact that we do not have the fullscale of evidence , we could only assume from factual sources such as newspaper . Perhaps you can enlighten us more with your knowledge.
Personally i would be getting mine from the states , cant say about the others
While we rave and rant about the stupid prices and Khaw BW’s explanation. Was there any explanation from the previous minister who came out with this sure win policy for developers? That man is still happily collecting his MP’s allowance while the average S’porean has to slave away 30yrs of his life and be expected to fend for himself and take care of aging parents and family when he is old.
Many Singaporean are waiting for one too. Personally i doubt he would , after all he no longer involved and have to “respect” his successor not wanting to overstep his boundary
Sound very familiar eh