15 Feb '12, 2am

Are PRs to blame for high HDB resale flat prices? #Singapore

Are PRs to blame for high HDB resale flat prices? #Singapore

Many Singaporeans are unhappy with skyrocketing HDB resale flat prices and PRs are getting the brunt of their fury. … By Tejaswi Chunduri (courtesy of PropertyGuru) There has been considerable debate regarding the issue of permanent residents (PRs) buying HDB resale flats and how it has allegedly pushed up cash-over-valuations (COV). In fact, an article published recently on Yahoo! Singapore by PropertyGuru received over 1,000 comments as a result of the heated exchange among netizens. After reading the comments, it is clear that many Singaporeans are unhappy with the skyrocketing prices in the HDB resale segment and PRs are getting the most blame. But is that justified and are there any financial underpinnings to this that we need to be aware of? Let's look at the HDB subletting market. As per HDB's latest quarterly figures, the total number of flats approved for subletti...

Full article: http://sg.news.yahoo.com/blogs/property-blog/prs-blame-hi...

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