My article in the The Star Newspaper on September 13, 2010
HOUSING is becoming out of reach for the majority of our population. The price of houses is being raised higher and higher, and from what I have observed, most new housing schemes are unoccupied, which means they are either bought by foreigners or speculators.
The trend now is to build super condominiums or three-storey houses, which are beyond the reach of ordinary folk. Therefore, we welcome the move by the Government to cap housing loans at 80%, which will result in housing being more affordable to the people.
The move will stabilise house prices andwith lower loans, there will be fewer speculators.
The Government should also implement a by-law for housing schemes above a certain acreage to include a certain percentage of double-storey houses and/or apartments. This cap can indirectly make housing more accessible to the poorer section of our population.
K.C. KHOO,
Tanjong Bungah.
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