In recent years, Singaporeans had grown unhappy with skyrocketing home costs that were aggravated by an inflow of new migrants.
That the pricey apartment was bought by a newly converted citizen from China added to the fear.
Singaporeans expect the apartment sale will set new benchmarks for public housing. Until the million-dollar crossing, several units had been transacted for S$900,000-plus (RM2.3mil-plus), the last being S$980,000 (RM2.5mil) for a Bishan unit.
A local reporter said: “You can’t inject two million foreigners into this small island without creating a huge demand for homes.”
“(This deal means that) Singapore-born Singaporeans will soon find themselves pushed out of their homeland by foreigners,” said Patrick. Full story
