I refer to the article “Strong
demand for housing likely to continue: Khaw” (Channel NewsAsia, Oct 15).
Enough new flats?
It states that “Mr Khaw said: “Every year, marriages that are
involving citizens, we’re talking about 15,000 family formations a
year. So 25,000 units (new flats a year) provide some buffer. But we
also have additional demand from upgraders, downgraders, second
timers.
“In fact, if not for other policy changes I’d be
beginning to wind it (the supply) down a little bit. Other than,
because now we have this new subject of catering for singles. So I
have to deliberately ramp it up a little bit higher in order to cater
for singles. We’re still mulling over it. Very hard to put a figure
on how much should we cater for singles.””
Forgot about new citizens?
I think the Minister may have forgotten about the average of about
18,500 new citizens a year, over the last five years or so. The
actual figure for last year was 19,777 (“NCMP Lina Chiam’s question
discovers more new citizens last
year”).
Forgot about PRs in resale market too?
We should also not forget about the 340,000 new Permanent Residents
(PRs) for the five years from 2006 to 2010(“Rapid Growth in
Singapore’s Immigrant Population Brings Policy Challenges By
Brenda S.A. Yeoh and Weiqiang Lin, National University of Singapore”),
who may add demand and pricing pressure in the HDB resale and rental markets.
The above means that we had an average of about
68,000 new PRs a year, from 2006 to 2010.
For the period from 2007 to last year, there were 259,040 new PRs,
reducing the average per year to 51,808. (“Many new PRs, citizens
young, well-qualified”, Today, Jul 27).
Forgot about foreigners renting HDB too?
If we add to the above, the annual growth rate of foreigners to the population of 6.9
(89,400) and 7.2 per cent (99,800) in 2011 and 2012, respectively,
the pressure on HDB rentals may continue as some foreigners may have
to rent HDB flats or rooms.
So, looking at the above statistics, when will the HDB supply ever play catch-up with the continuing relentless rise of new citizens, PRs and foreigners? Oh, I forgot to mention that we are “ mulling over this new subject of catering for singles” too!
Forgot about 2013 too?
I also find it rather strange that the answer in Parliament
(“Significantly more housing units to be completed in 2014”,
Channel NewsAsia, Oct 15)
gave estimates of the number of HDB flats projected to be completed
in 2014 (26,800 flats) and 2012 (11,300), but was silent on the
figure for 2013?
Why is this so?
Leong Sze Hian
