16 Apr '11, 10am

Low Thia Khiang: WP proposal to lower HDB flat prices won't affect resale prices

Low Thia Khiang: WP proposal to lower HDB flat prices won't affect resale prices

WORKERS' Party (WP) chief Low Thia Khiang slammed National Development Minister Mah Bow Tan on Friday for not giving Singaporeans the full picture, insisting his party's proposal to lower new flat prices will not affect resale prices. The Hougang MP cited two reasons: the number of new HDB flats are relatively small and are also subject to a minimum occupancy period of five years before they could be sold on the resale market. 'So how much can the price of a new flat affect the resale market price and to the extent that he's saying that it's going to be a big impact?' said Mr Low, speaking to The Straits Times in an exclusive interview. The opposition leader was responding to Mr Mah's criticisms of the WP's manifesto unveiled last Saturday. It proposes to lower new HDB flat prices by pegging them to the median incomes of Singaporeans. Now, it is tied to resale market price...

Full article: http://www.straitstimes.com/GeneralElection/News/Story/ST...

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