The Singapore Democratic Party has proposed the creation of two separate housing markets to keep property prices in check while increasing the supply of cheaper flats.
During a press conference at the Quality Hotel at Balestier on Sunday, SDP secretary-general Dr Chee Soon Juan launched the party’s 37-page housing manifesto, the result of “months of intense study and debate”. Criticising the current housing policy as a “huge profit-making enterprise”, he said the party’s newly proposed plan hopes to “fix the mess” created by previous housing ministers.
Key to the plan is the introduction of a “Non-Open Market” (NOM) – which will see new public housing being built and sold by the HDB at far lower prices than the status quo. Homes built under this scheme can only be sold back to the HDB, preventing profiteering and thus keeping prices affordable. Full story
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