The Netizens criticise PM Wong’s assurance on HDB affordability as a decades-long ’empty promise’
PM Lawrence Wong recently assured that the government is committed to keeping public housing affordable and is working to boost housing supply.
However, many Singaporeans remain skeptical, expressing concerns online about repeated promises and the rising prevalence of million-dollar flats, which they argue may signal a deviation from HDB’s original purpose of providing affordable homes.
SINGAPORE: On 21 January, Prime Minister Lawrence Wong has reiterated the government’s assurance to ensuring public housing remains affordable for Singaporeans.
However, the assurance seeminlgy failed to convince Singaporeans, with many took to social media to expressed their skepticism, highlighting that the government has repeatedly make the same promise over the years.
Some also raised concerns about the increasing occurrence of million-dollar HDB flats, questioning whether this signals a deviation from the original purpose of HDB, which was to provide affordable, quality homes for Singaporeans.
During a dialogue themed “The Singapore Dream,” with 900 students at the National University of Singapore (NUS)., Wong emphasised that new Build-to-Order (BTO) flats will continue to be priced in relation to income levels.
“We are able, through heavy government subsidies, through what we do on the HDB side, to provide assurance to all of you, both now and in the future, that we will always keep public housing affordable for Singaporeans,” he said.
“The assurance to all of you is that HDB will continue to price the new flats in relation to income, not in relation to the resale market … to make sure that housing remains affordable,” Wong stated.
Wong: Million-Dollar HDB Flats Represent “One Part of the Equation”
Acknowledging public concerns about rising property prices and reports of million-dollar HDB flats, Wong pointed out that these headlines only present “one part of the equation.”
He explained that rising incomes must also be considered when assessing affordability.
Wong noted that over 80 per cent of first-time flat buyers today can service their mortgages using their Central Provident Fund (CPF) savings without additional cash.
He contrasted this with the experience of earlier generations, who, despite lower flat prices, had to spend a larger portion of their take-home pay on mortgages.
Highlighting the impact of supply disruptions caused by the COVID-19 pandemic, Wong assured that the government is doing its best to increase the housing supply.
“We are building as much as we can—not just public housing but also private housing through the government land sales programme. Both markets are interlinked, and these efforts will help stabilise the property market in due course,” he explained.
HDB Resale Flat Prices Surge 9.6% in 2024, Nearly Double 2023 Increase
Wong assured that the government is doing everything possible to keep new flats affordable and that increasing supply will help stabilize the property market over time.
According to HDB’s flash estimates released on 2 January, HDB resale flat prices rose by 9.6% in 2024, almost doubling the 4.9% increase recorded in 2023.
This comes despite the government’s continued assurance that public housing in Singapore remains both affordable and accessible to citizens.
HDB had previously highlighted that million-dollar flats accounted for only 2% of total resale transactions over the past 1½ years.
Netizens Express Mixed Reactions to PM Wong’s Assurance on Affordable Housing
However, after observing netizens’ comments on state media CNA and The Straits Times, it is evident that many expressed mixed reactions to PM Wong’s assurance regarding affordable public housing.
Some criticised the government’s approach, describing it as an “empty promise,” as they believe HDB prices have continued to rise throughout the year.
A cooment accused the government of inflating HDB prices while using subsidies to create the illusion of affordability, ultimately leaving citizens burdened with housing debt.
One netizen mocked the 4G government led by PM Wong, pointing out that while they entitle themselves to the highest pay, claiming to be the best, they have failed to address the spiraling housing prices and cost of living.
While others sought clarification from PM Wong regarding definition of a ‘affordable’ HDB housing.
Netizen Highlights Stark Contrast Between Wong’s Past Assurances and Soaring Property Prices
Meanwhile, one comment emphasised the stark contrast between Wong’s assurances a decade ago, when he, as Minister for National Development, claimed property prices had stabilised, yet prices have continued to soar over the years, with no substantial change in the government’s narrative.
’30-Year Loans to Afford HDB Flats’
A netizen highlighted the challenges ordinary Singaporeans face in servicing housing loans, especially in the current context of high property prices.
The FB user netizen pointed out that in the 80s and 90s, HDB stopped building 3-room flats because most Singaporeans could afford larger homes, as housing was more affordable back then.
However, today, the government is forced to build smaller flats to keep them affordable, but even these smaller units are so expensive that many ordinary citizens have to take out 30-year loans just to afford them.
This situation has led to concerns about the impact on family planning, with some linking the financial strain of housing loans to the country’s declining birth rate.
Others opposed the reliance on housing grants, calling for actual price controls or a price ceiling on public housing instead of focusing on income salary ceilings.
One comment further pointed out that cooling measures are ineffective, and the policy restricting singles from purchasing HDB flats until they turn 35 only exacerbates demand.
One netizen made a sarcastic comparison, likening the situation to being a sole food distributor on the island. He imagined selling a 5kg packet of rice for S$250, then announcing to the people, “I will make food affordable for you all.”
Despite the exorbitant price, he humorously claimed that outsiders would praise him for making food affordable, leaving him feeling satisfied.
Rising Million-Dollar HDB Flats Spark Concerns of a Shift from HDB’s Original Goal
Meanwhile, a comment raised concerns about HDB resale flats in prime areas, noting that they are rare and expensive, with some reaching S$1 million. The comment questioned whether such high prices deviate from the original purpose of providing affordable
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SINGAPORE: On 21 January, Prime Minister Lawrence Wong has reiterated the government’s assurance to ensuring public housing remains affordable for Singaporeans.
However, the assurance seeminlgy failed to convince Singaporeans, with many took to social media to expressed their skepticism, highlighting that the government has repeatedly make the same promise over the years.
Some also raised concerns about the increasing occurrence of million-dollar HDB flats, questioning whether this signals a deviation from the original purpose of HDB, which was to provide affordable, quality homes for Singaporeans.
During a dialogue themed “The Singapore Dream,” with 900 students at the National University of Singapore (NUS)., Wong emphasised that new Build-to-Order (BTO) flats will continue to be priced in relation to income levels.
“We are able, through heavy government subsidies, through what we do on the HDB side, to provide assurance to all of you, both now and in the future, that we will always keep public housing affordable for Singaporeans,” he said.
“The assurance to all of you is that HDB will continue to price the new flats in relation to income, not in relation to the resale market … to make sure that housing remains affordable,” Wong stated.
Wong: Million-Dollar HDB Flats Represent “One Part of the Equation”
Acknowledging public concerns about rising property prices and reports of million-dollar HDB flats, Wong pointed out that these headlines only present “one part of the equation.”
He explained that rising incomes must also be considered when assessing affordability.
Wong noted that over 80 per cent of first-time flat buyers today can service their mortgages using their Central Provident Fund (CPF) savings without additional cash.
He contrasted this with the experience of earlier generations, who, despite lower flat prices, had to spend a larger portion of their take-home pay on mortgages.
Highlighting the impact of supply disruptions caused by the COVID-19 pandemic, Wong assured that the government is doing its best to increase the housing supply.
“We are building as much as we can—not just public housing but also private housing through the government land sales programme. Both markets are interlinked, and these efforts will help stabilise the property market in due course,” he explained.
HDB Resale Flat Prices Surge 9.6% in 2024, Nearly Double 2023 Increase
Wong assured that the government is doing everything possible to keep new flats affordable and that increasing supply will help stabilize the property market over time.
According to HDB’s flash estimates released on 2 January, HDB resale flat prices rose by 9.6% in 2024, almost doubling the 4.9% increase recorded in 2023.
This comes despite the government’s continued assurance that public housing in Singapore remains both affordable and accessible to citizens.
HDB had previously highlighted that million-dollar flats accounted for only 2% of total resale transactions over the past 1½ years.
Netizens Express Mixed Reactions to PM Wong’s Assurance on Affordable Housing
However, after observing netizens’ comments on state media CNA and The Straits Times, it is evident that many expressed mixed reactions to PM Wong’s assurance regarding affordable public housing.
Some criticised the government’s approach, describing it as an “empty promise,” as they believe HDB prices have continued to rise throughout the year.
A cooment accused the government of inflating HDB prices while using subsidies to create the illusion of affordability, ultimately leaving citizens burdened with housing debt.
One netizen mocked the 4G government led by PM Wong, pointing out that while they entitle themselves to the highest pay, claiming to be the best, they have failed to address the spiraling housing prices and cost of living.
While others sought clarification from PM Wong regarding definition of a ‘affordable’ HDB housing.
Netizen Highlights Stark Contrast Between Wong’s Past Assurances and Soaring Property Prices
Meanwhile, one comment emphasised the stark contrast between Wong’s assurances a decade ago, when he, as Minister for National Development, claimed property prices had stabilised, yet prices have continued to soar over the years, with no substantial change in the government’s narrative.
’30-Year Loans to Afford HDB Flats’
A netizen highlighted the challenges ordinary Singaporeans face in servicing housing loans, especially in the current context of high property prices.
The FB user netizen pointed out that in the 80s and 90s, HDB stopped building 3-room flats because most Singaporeans could afford larger homes, as housing was more affordable back then.
However, today, the government is forced to build smaller flats to keep them affordable, but even these smaller units are so expensive that many ordinary citizens have to take out 30-year loans just to afford them.
This situation has led to concerns about the impact on family planning, with some linking the financial strain of housing loans to the country’s declining birth rate.
Others opposed the reliance on housing grants, calling for actual price controls or a price ceiling on public housing instead of focusing on income salary ceilings.
One comment further pointed out that cooling measures are ineffective, and the policy restricting singles from purchasing HDB flats until they turn 35 only exacerbates demand.
One netizen made a sarcastic comparison, likening the situation to being a sole food distributor on the island. He imagined selling a 5kg packet of rice for S$250, then announcing to the people, “I will make food affordable for you all.”
Despite the exorbitant price, he humorously claimed that outsiders would praise him for making food affordable, leaving him feeling satisfied.
Rising Million-Dollar HDB Flats Spark Concerns of a Shift from HDB’s Original Goal
Meanwhile, a comment raised concerns about HDB resale flats in prime areas, noting that they are rare and expensive, with some reaching S$1 million. The comment questioned whether such high prices deviate from the original purpose of providing affordable public housing.
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