Some Singaporean wrote in to Straits Times to indicate that something should be done for HDB that are sold for $1 million dollars and above.
His point is that these flats are heavily subsidized. There are those lucky ones who managed to ballot and got really good locations such as Queenstown and Tiong Bahru. It is as if they struck the jackpot. They got their flats for $400,000 to $500,000 and the transacted price is north of $800,000.
I am not sure what is a better way to manage this system.
I suppose a fair way is to reduce the land lease to 30 or 50 years. This would mean that these flats are in prime location and attractive enough for those who are willing to pay for convenience to stay near to where they work. Yet the land lease is short enough that this would cap the price people