Hot on the heels of my last blog post on property prices in Singapore and whether more cooling measures are on the way, I came across an article in TODAY which reported that HDB slammed PropertyGuru for inaccurately reporting that it is more affordable to buy a private property than a resale HDB flat.
I am not really interested in their squabbles since it has no bearing on my life. However, I am interested in the last three paragraphs of the article, especially the last two which should put to rest any doubt about the government's intention of driving down the prices of residential property in Singapore.
"One cannot deny the fact that in the last five years, income has not increased at the same rate as property prices," he (PropNex Realty chief executive Mohamed Ismail) said. "However, all property prices are subject to cycles and a correction is likely when ......