It is an emotive topic, as it is the biggest purchase in our life.
It is also controversial because the players involved have completely opposite objectives: buyer wants a low price, seller wants it high.
Compared to all other countries, Singapore has achieved much in housing its people. Our home ownership rate is the highest in the world. 90% own their own homes.
But a temporary imbalance in supply and demand has pushed up property prices to bubble-like level. We are pulling out all stops to deflate the bubble without causing it to suddenly burst. This requires skills and luck.
After much effort, we are seeing light at the end of the tunnel, though we are still not yet out of it.
But we now have a breather to think about longer term reforms. Last month in Parliament, I invited Singaporeans to collectively mull over our housing challenges and shape future housing policies together.
Many Singaporeans have responded to the call: they write to newspaper forum pages and MND to air their views. Our media, too, also write regularly on this topic.
From next week, MND will launch a series of Our Singapore Conversation on Housing. Please join in the conversation and let us have your views, concerns and aspirations.
If you are unable to join us in person, you can still share with us your views here.
Let us collectively re-examine assumptions and re-visit key policies. Let us identify areas of consensus, but keep an open mind on enhancements that are necessary, while being mindful of the impact of changes on different stakeholders.
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