As an indication that many Singaporeans believe that Permanent Residents (PRs) should take the blame for the sky-rocketing prices of HDB flats, another Singaporean has written to the Straits Times, criticizing the pro-foreigner housing policies of the ruling party.
Ms. Wan Siew Kay reckoned that launching more new HDB flats for sale will not reduce HDB flat prices, as the bottom line of the problem lies in the resale market “where Singaporeans must compete with PRs for a place to live.”
PRs are permitted to buy resale flats in the open market due to the shortage of rental flats built by HDB. The reasoning is that PRs will be more inclined to take up citizenship in the future and will develop a sense of belonging to Singapore, if they have a permanent home in the country.
Meanwhile, rental flats are meant only for Singaporeans belonging to the lower income group, who are unable to afford HDB flats. While HDB recently apportioned two blocks of flats in Toa Payoh generously to accommodate foreigners who are working in the Resorts World Sentosa, strict criteria are imposed for locals to qualify for rental housing.
Ms. Wan stated that “if there was a huge supply of HDB flats of various types for rent for all, including low-income Singaporeans, prices of HDB flats would have stabilised.”
“These new immigrants could stay in such rented HDB flats until such time when they decide to take up full Singapore citizenship; only then would they be allowed to buy a HDB flat,” she added.
Although several PRs belong to the middle or higher income group, and can afford to buy properties in the private housing sector, they end up purchasing resale flats to push up the prices.
Ms. Wan finished her note with an ominous warning:
“If building executive condominiums and build-to-order flats are the Government’s only way of fighting rising costs in public housing, our children will have to wait for us to pass on before they can inherit a roof over their heads.”
However, the ruling party maintains that HDB flats remain “affordable” to ordinary Singaporeans, despite the evidence showing otherwise.