05 Feb '11, 10am

The Politics of Property Price Rise 1990-2006

The Politics of Property Price Rise 1990-2006

As of January 2011, high property prices had led to more criticism of the ruling PAP (People’s Action Party) regime. I located a graph showing the index of Singapore property prices from 1960 to 2006. Unfortunately, the picture resolution was not good and I was unable to trace the URL. This graph used an index system with the 4th Quarter of 1998 as a base of 100. Based on my past observations, the graph is reasonably accurate. From 1960 to most of 1990, property prices had an upward trend but were not much of a concern. Public housing was considered affordable and expensive private housing was seen as the domain of the rich. In Nov 1990, Mr Goh Chok Tong became Prime Minister. He actively promoted massive immigration and “asset enhancement”. Originally meant to refer to upgrading of existing public housing, it became associated with rising private and public property price...

Full article: http://www.temasekreview.com/2011/02/05/the-politics-of-p...

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