Scrap executive condos and focus on BTO flats
INTEREST in executive condominiums (EC) surged last year, with many buyers drawn by the potential price gains ("Potential for profit drawing buyers to EC market"; Sunday).
While there is nothing wrong with gaining from property investments, the Housing Board (HDB), as the nation's public housing authority, should not perpetuate this unhealthy trend when it comes to public housing.
The HDB should leave this to the private property sector.
It should go back to its original mission of providing affordable public housing for citizens.
There are many newlyweds and singles in need of an affordable roof over their heads.
In land-scarce Singapore, it is not the optimum use of resources to allocate for more ECs.
Instead, the HDB should phase out ECs and build more Build-To-Order flats to satisfy the queue of newlyweds hoping to get their own place so that they can start a family, as well as the growing segment of single citizens.