OPINION: End of the Singapore Dream

Singapore Notes, 3 Dec 2013
The mainstream media has confirmed the trend. Average application rate for BTO flats has declined from 5.3 in 2010 to 2.9 this year. BTO application rate for second timers was 2.4, way down from 25.9 in November 2011. Well done, Mr Khaw, who wrote, "We have cleared the backlog young families buying their first flats." Why then, is the Minister for National Development planning to slow down the supply of flats from next year?
Earlier in June, Khaw cited excuses claiming the increase of supply was "not sustainable", and it could slow down after 2015 to prevent a glut in the market. And they still maintain a 6.9 million population is "sustainable", with all the invasive glut from the foreign crowd. Plus, the Senior Fellow at the Singapore Institute of International Affairs and Adjunct Professor at the Lee Kuan Yew School of Public Policy even suggested Singapore can fit 8 million people. Whatever Dr Parag Khanna is smoking, has to be good hash. Full story
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