Housing market should stabilise in four years: PM Lee
Prime Minister Lee Hsien Loong is confident that the government can “stabilise” the housing market within the next four years, and that they are "gradually trying to make improvements".
He noted that Singaporeans are not only concerned with upgrading their flats, but are also worried about whether their children are able to get new flats to start families. He added that HDB is working towards this goal, reported the Sunday Times.
"We're clearing the queue. I think people are calming down, there's no need to get worried," he said.
Lee was speaking at an event to mark the end of the S$48.3 million two-year, five-block project upgrading effort in Kebun Bahru, part of his Ang Mo Kio GRC.
He pointed out how the application rate for a launch of Build-to-Order (BTO) flats last month was 1.7 times, much lower than last year's rate of six times.
The HDB is building 25,000 BTO flats this year, and aims to achieve the same number next year. This is "equivalent to one Ang Mo Kio town", according to the Prime Minister.
He added that as demand for new flats is met, pressures on the resale market will ease. "We are building, keeping the prices stable, and we'll make sure that Singaporeans who need flats will get flats. They'll be affordable and good flats."
Lee also expressed a desire to improve the lives of Singaporeans beyond the physical upgrades to HDB estates. He wants to include "community bonding, the sense of ownership and pride, and making Singapore a better home for all".
"For this, we need a good government. We need people to work together with the government, and we need to be able to grow our economy, make sure we have the resources to improve our lives and to make Singapore better."
His dream occupation
The Prime Minister revealed at an informal session in a new communal space for young people in Kebun Baru that he never intended to get into politics.
When he was younger, he enjoyed himself in school and thought he might get a scholarship, go to university and "do something in Government".
"But I didn't see myself going into politics," he said.
He admitted that young Singaporeans today have more options all over the world, thus there isn't so much motivation for them to come back home.
"People don't feel that quite as intensely now as when I was in university. Then, Singapore was just becoming independent. You felt that if you don't pitch in, something is lost."
He hope that young people would come home after stints abroad even though they may not feel like it will make a difference as the country is now prosperous.
When asked how his style as an MP has changed since he first entered politics in 1984, Lee said that people are now more interested in politics and MPs have to spend a lot more time discussing issues with them. He added that the government is less dominant now than two decades ago, a development he hopes will continue.
"The more we can depend on you, the better," he told the young grassroots leaders.
