The Workers’ Party (WP) has no plans of crashing Singapore’s property market, said Chairman Sylvia Lim, in response to National Development Minister Mah Bow Tan’s latest remarks.
Mr. Mah had asserted that the WP’s proposed housing policies would “devalue the assets of a million” HDB home owners.
The WP recently suggested in its manifesto that the prices of new HDB flats be tied to the average incomes of Singaporean households which are eligible to acquire such flats.
According to Ms. Lim, the implementation of such a proposal will have only a minor impact on the resale market, as a limited number of people are qualified to purchase new flats.
“There’s still some lack of transparency about the cost of building the flats, so that data needs to be made transparent in order for us to have a proper debate about this point,” said Ms. Lim in response to Mr. Mah’s query about how WP suggests financing the lowering of flat prices.
Mr. Mah also claimed that the WP has avoided directly answering questions about its manifesto, to which Ms. Lim responded flatly, “Well, we don’t agree.”