Singapore was ranked second most expensive places to build in Asia in 2011 according to E.C Harris
There we go again. This kind of accolade we can do without.
The higher building cost will translate to even higher housing price as developers want to make profits. Profitability will peter down to resale prices and eventually HDB prices. There is a urgent need to put a lid on housing price or else HDB flats are no longer affordable.
Already there were many feeling the heat. Bringing cheap labour will breed ugly social problems. The wealthy including those who earn more than 5 figure a month salary will be very happy as this means that the value of their house will also rise. With higher purchasing power they can buy more properties and this vicious effect multiplies. The social status gap will even widen further.
Giving higher subsidies to new HDB owners will be shortlived and will not bring the cost of buildings down. For the new generation of people whose parents are not wealthy will have to bear a heavier brunt. How then can you expect the people to get united?
Yay, price of unplanned development.