06 Apr '11, 8am

Are rising home prices bad for Singapore?: Singapore's increasing home prices, poor locations and limited choice...

Singapore' s increasing home prices, poor locations and limited choices are becoming nagging issues that will no doubt be highlighted in the upcoming election. National Development Minister Mah Bow Tan , who is in charge of Singapore's public housing , is aware that he is in the hot seat. In an interview with The New Paper, Mr. Mah said that out of 100 people applying for a public flat, 10 to 20 applicants tried several times but were unable to acquire the flats they wanted. While Mr. Mah admitted that home prices are rising, he attributed this to the booming economy. "If prices come down, it can mean only one of two things: either we do silly things, we make silly decisions or the economy goes bad, unemployment is high, confidence is down. Then, property prices will surely come down." "So we have to be careful what we wish for," he warned. He cited this as reason the gove...

Full article: http://sg.news.yahoo.com/rising-home-prices-bad-singapore...

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