- Joined
- Jan 13, 2010
- Messages
- 459
- Points
- 0
http://www.temasekreview.com/2010/0...-singapore-can-still-accommodate-more-people/
February 7, 2010 by admin
Filed under Headlines
Leave a comment
Written by Our Correspondent
During a speech made at the HDB’s 50th anniversary celebration last week, Singapore’s former Chief Statistician (1994 – 2001) Dr Paul Cheung said that Singapore can still accommodate more people due to increase in per capita living space.
Dr Cheung was born in Hong Kong and is now a Singapore citizen. He is currently a visiting consultant to China’s National Bureau of Statistics.
He pointed out that the average number of people per household including maids is 3.5 and the number of extended families living under the same roof occupies only 7 per cent of the total population.
Singapore’s demographics has changed radically due to the relentless influx of foreigners in recent years who now make up 36 per cent of the population.
Dr Cheung opined that though the current supply of public housing is adequate to meet local demands, there is a need to make some adjustments to allow foreigners to have a place to live in as well.
He suggested that HDB rent a few blocks of flats to private real estate companies to rent out to foreigners at a rate lower than that of condominiums.
He quoted the example of New York where every block of high-rise flat has rental units to faciliate the moving in and out of foreigners.
“Foreigners in Singapore face two extremes in the choice of their housing: it is either too expensive or cheap like workers’ dormitories. Not every foreigner can afford high-end private apartments like Ritz-Carlton Residences.”
Dr Cheung failed to mention the fact that the apartments in New York mostly belong to the private housing sector while HDB flats are supposedly public housing built to cater for the housing needs of Singaporeans.
Furthermore, they are built by a government agency HDB which monopolizes the entire public housing market in Singapore, leaving Singaporeans with no other alternatives.
He also jumped to the defence of the PAP’s pro-foreigner policy that foreigners help to prop up the prices of HDB resale flats thereby increasing the “asset value” of Singaporeans.
What was not mentioned is that the capital value of HDB flats can only be unlocked if the owners emigrate or downgrade to a cheaper flat.
The sky-rocketing prices coupled with stagnant wages mean that Singaporeans will be plunged into greater debts financing their flats thereby leaving very little cash left for their retirement.
Stung by rising frustration, resentment and anger on the ground at its liberal immigration policies, PAP leaders have backtracked in the last few days by reassuring Singaporeans that the inflow of foreigners will be slowed down.
News source: Lianhe Zaobao
February 7, 2010 by admin
Filed under Headlines
Leave a comment
Written by Our Correspondent
During a speech made at the HDB’s 50th anniversary celebration last week, Singapore’s former Chief Statistician (1994 – 2001) Dr Paul Cheung said that Singapore can still accommodate more people due to increase in per capita living space.
Dr Cheung was born in Hong Kong and is now a Singapore citizen. He is currently a visiting consultant to China’s National Bureau of Statistics.
He pointed out that the average number of people per household including maids is 3.5 and the number of extended families living under the same roof occupies only 7 per cent of the total population.
Singapore’s demographics has changed radically due to the relentless influx of foreigners in recent years who now make up 36 per cent of the population.
Dr Cheung opined that though the current supply of public housing is adequate to meet local demands, there is a need to make some adjustments to allow foreigners to have a place to live in as well.
He suggested that HDB rent a few blocks of flats to private real estate companies to rent out to foreigners at a rate lower than that of condominiums.
He quoted the example of New York where every block of high-rise flat has rental units to faciliate the moving in and out of foreigners.
“Foreigners in Singapore face two extremes in the choice of their housing: it is either too expensive or cheap like workers’ dormitories. Not every foreigner can afford high-end private apartments like Ritz-Carlton Residences.”
Dr Cheung failed to mention the fact that the apartments in New York mostly belong to the private housing sector while HDB flats are supposedly public housing built to cater for the housing needs of Singaporeans.
Furthermore, they are built by a government agency HDB which monopolizes the entire public housing market in Singapore, leaving Singaporeans with no other alternatives.
He also jumped to the defence of the PAP’s pro-foreigner policy that foreigners help to prop up the prices of HDB resale flats thereby increasing the “asset value” of Singaporeans.
What was not mentioned is that the capital value of HDB flats can only be unlocked if the owners emigrate or downgrade to a cheaper flat.
The sky-rocketing prices coupled with stagnant wages mean that Singaporeans will be plunged into greater debts financing their flats thereby leaving very little cash left for their retirement.
Stung by rising frustration, resentment and anger on the ground at its liberal immigration policies, PAP leaders have backtracked in the last few days by reassuring Singaporeans that the inflow of foreigners will be slowed down.
News source: Lianhe Zaobao
