CAN THE GOVERNMENT ENSURE HDB FLATS KEEP THEIR VALUE OVER TIME?

There have been recent reports on the falling prices of Housing Board resale flats (“First HDB resale price dip since 2005″, Jan 25; and “Resale flat prices not yet at ‘steady state’”; last Sunday)

The number of resale transactions has fallen considerably and we are seeing some negative cash-over-valuation deals.

Despite this, National Development Minister Khaw Boon Wan says a “steady state” has yet to be reached and that home buyers should welcome the softening prices of HDB resale flats.

A few years ago, I took part in several flat balloting exercises as a first-time buyer. I was not successful and had to pay a steep price for a resale flat.

Then National Development Minister Mah Bow Tan had said flat owners would benefit from rising prices because their homes would become more valuable.

There is certainly a need to ensure flat buyers are not disadvantaged by overly high prices.

But it is equally imperative that due consideration be given to flat owners, so they will not suffer a loss in the value of their homes over time. Are there measures to ensure this will not happen?

Chan Kwang Ping

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