Government Housing

Despite property prices having gone crazy over here, that highly paid government haven't being sitting on their hands or on their private yachts in the South of France!

The mystery of how the ordinary pleb gets a roof over his head has been solved! The government built HDB flats can be had for as little as €38,000 for a 2 bedroom unit. I saw a news report the other day about a new development and very nice they are too.

This being Singapore, the world's foremost lover of red tape, the purchase price and the buying procedure are tightly controlled by the government with a myriad of rules and regulations. There is a complicated, but, it has to be said, fair policy for selecting recipients off the housing lists. Once they are ensconced in their little nests, there are even more rules and regulations; they can not rent it or sell it for 5 years and even then, they better have a good reason!

Since it's government subsidised housing, they don't want to have speculation in this market, so not only is the original purchase price strictly controlled, but so is the resale value. This makes it difficult for anyone to make a quick buck out of the government's generosity. It also quells price inflation in the public housing sector that would take many out of the housing market. Sensible policies, just like we had at home during our boom!!