National Development Minister Mah Bow Tan addressesHDB policies during Budget 2010 in response to public concerns. Turning to the issue of affordability of HDB flats, Mr Mah said households looking to downsize will be eligible for a second concessionary loan. On the high COV, Mr Mah reiterated the govt's stance of non-interference in the resale market. However, to curb speculation in the market, he announced that resale flat owners must occupy their flats for at least 3 years before they can sell them.
Source: www.channelnewsasia.com - March 5, 2010
Mah has already interfered in the resale market by not building enough flats in the recent years with total disregard for the number of foreigners let into Singapore (even if they don't buy, they rent, and that affects the purchase price) hence the pent up demand pushed up prices so much despite a recessionary environment.
We not stupid.
MrFievel 1 year ago