Singapore Democrats, 18 Dec 2008
It was reported today that the Government is building more two- and three-room flats because they are presently in demand. Two-room flats are those with a living room and one bedroom. The sale price for such a new flat starts at $76,000. What this really means is that Singaporeans are getting poorer and unable to afford bigger flats.
A few years ago the Government was saying that it would phase out the smaller flats because Singaporeans were moving into 4- and 5-room flats as they got richer. What happened?
There is only one answer: Singaporeans are getting poorer. The HDB tells us that "there are more people who will need to downgrade to smaller flats, as well as first timer families who would also like to start with smaller flats to be financially prudent."
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