20 Mar '14, 3am

Quick action makes short work of #HDB market woes #property #housing

WHEN Mr Khaw Boon Wan put up his hand after the last general election to take over the National Development Ministry, he inherited a full slate of policy issues that had troubled voters. Newlyweds and young families complained that their housing options were limited. They couldn't buy private property because prices had shot through the roof. HDB resale flats were unaffordable because cash over valuation (COV) was high. Those who met the criteria could apply for a new HDB Build-To- Order (BTO) flat, but they had to compete with a flood of applicants facing the same problems - making it too much of a touch-and-go affair. And because the prices of BTO flats were linked to the value of resale flats around them, they, too, were on the rise. Resolving the situation seemed a tough and lengthy process. It demanded not just a careful untanglingof tightly interlinked policies, but ...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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