In this case, it is financial gravity as dictated by the median income of most Singaporeans versus the value of homes being offered in the market. Recent news articles on our ever-hot property market has literally “forced” me to write once again on this pervasive yet intriguing phenomenon. With elections around the corner on May 7 and Nomination Day being tomorrow the 27 April, this hot-button topic would surely be fiercely debated over the nine days of campaigning, with most of the salvos being fired at our Minister of National Development Mr. Mah Bow Tan (“MBT”) who heads a GRC in Tampines. Let’s look at the facts and numbers and I will draw some conclusions from there.

On April 16, 2011, it was reported that the March 2011 numbers showed that sales of new private homes was up 25% to hit 1,386 units. If we add in EC sales, the ......