Only three months ago, there was a big controversy raised over property cool-down measures by the government by opposition parties, grassroot leaders, as well as many netizens. Doubts were being expressed at measures such as policies to extend number of years one can buy and sell public property, clearing of land to build more HDB flats, special price privileges for citizens who buy property for the first time.
These measures are precipitated by concerns raised over the fact that many new citizens and young couples can't afford to simply have a roof over their head. The reason is clear - the increased number of investors in the property market putting their faith in public property.
The government's policies seem to be working thus far. However, it distills many other side effects. For example, although it is true that the government can control the various mechanics and matrixes of the public property market, landed property is something out of reach. And this side effects have already started to surface - with landed property prices surging this week from investors turning to landed property.
Furthermore, the measures the government have implemented are not long-term enough to totally cause a drop in prices. Singapore has a small land space and it is inevitable that there is really limited area in which the government can build more housing flats. As such, the government has to come up with longer-term solutions such as limiting our country's population, researching on technology of building higher (e.g. Duxton @ pinnacle that is about 40 storeys high), researching on reclaiming land from sea that is past 15 m deep etc.
The government's current solutions are effective in stalling the problem temporarily, but it is still vital to prepare longer-term solutions that increase land space, as well as maximize current land space.
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