ALMOST SUDDENLY....

[RadX]

..we have a housing problem lah...and KBW seems set to correct it......

 

but funnily how come that horse alwes say no problem....say sGeans fussy lah, etc etc.....

serves the a$$ right kena retire

 

Rental flats supply set to increase

By Joanne Chan | Posted: 29 May 2011 1945 hrs

 

Photos1 of 1

HDB flats (file picture) VideoRental flats supply set to increase

 

 

 

SINGAPORE: Minister for National Development Khaw Boon Wan said there is a shortage of rental flats in Singapore, and there is a need to ramp up supply by "ten of thousands".

 

However, Mr Khaw said it will take some time to make up this shortfall, as the construction industry is unable to cope with the sudden surge in demand.

 

Mr Khaw spoke about the need to ramp up the supply of rental flats, during a youth forum at the Woodlands Community Club.

 

"Single mothers, divorcees (may) suddenly have no flat (or) no money to buy (one), so they are counting on rental (flats)," Mr Khaw said.

 

"Then there are all kinds of HDB rules that prevent them from renting. The rules are not frivolous.

 

"The problem HDB faces is that they are just short of rental flats. It's quite clear in my mind -- we need to ramp up the building of rental flats as quickly as we can. Not just by a few thousands; actually we need to (increase) by tens of thousands. And the earlier the better."

 

This comes two days after the HDB announced the supply of new BTO flats will be increased this year from 22,000 to 25,000 units.

 

Mr Khaw said the HDB needs to build "almost similar numbers" of rental flats, but said there are challenges.

 

While Mr Khaw is keen to ramp up the supply of new flats quickly, he admitted the construction industry cannot cope with this sudden surge in demand.

 

The industry is used to building some 15,000 units a year.

 

As such, Mr Khaw said it will take some time to meet demand.

 

Mr Khaw added he needs to study the capacity of the construction industry to understand how fast flats can be built.

 

Meanwhile, Mr Khaw was asked at the forum, about the large presence of foreigners in Singapore.

 

Some in the audience said they felt threatened when it came to competition for jobs.

 

Mr Khaw acknowledged that too many foreigners were allowed in, the last few years, and there was a need to calibrate the numbers.

 

But he noted the relationship between economic growth and foreign labour, and said by reducing their numbers, Singaporeans are accepting there will be trade-offs.

 

Mr Khaw said: "We thought (taking foreigners in) was important to bring wages to people's pockets, so that we can grow as fast as we can... (and) catch up with other countries.

 

"But now, we get the message that 'we don't want so much growth, that we are prepared to accept slower growth'.

 

"It actually affects the youth immediately, because when you slow down growth, it means that job opportunities also come down (and) starting pay also comes down".

 

Other issues touched on at the forum included alternative pathways for youths who want to pursue the arts, and global competition.

 

-CNA/wk

 

 

[Parkingidiot]

1 opposition GRC can cause so many changes.... imagine what 30% alternative voices in parliament can achieve....

 

 

never again 1 party dominance!

[RadX]

1 opposition GRC can cause so many changes.... imagine what 30% alternative voices in parliament can achieve....

 

 

never again 1 party dominance!

 

At Airshow....heard the Hen kena boo-ed cos he was late......

[Latka]

1 opposition GRC can cause so many changes.... imagine what 30% alternative voices in parliament can achieve....

 

 

never again 1 party dominance!

 

 

Seems like LSL can't fix the opo in parliament after all. He himself kena fixed instead.

[Latka]

At Airshow....heard the Hen kena boo-ed cos he was late......

 

U mean Mr 'yr intelligence does not affect me'?

[Parkingidiot]

Another article about this:

 

Supply of rental flats to increase

by Teo Xuanwei 04:47 AM May 30, 2011

 

SINGAPORE - Even as National Development Minister Khaw Boon Wan announced yesterday that "tens of thousands" of rental flats will be built to ease the pent-up demand, Members of Parliament (MPs) reiterated the perennial call for the eligibility criteria for the Public Rental Scheme to be relaxed.

 

Others reacted to this influx of subsidised housing for the needy with this poser: Has the Government's home ownership policy shifted?

 

Speaking at a dialogue with youth at Woodlands Community Club yesterday, Mr Khaw said, having looked at the HDB data, more rental flats have to be rolled out as quickly as possible. This is only two days after Mr Khaw announced that a record 25,000 new flats will be built this year - and only two months after former minister Mah Bow Tan told Parliament that some 7,000 rental flats are being built.

 

While it may seem ambitious to embark on building two different types of flats concurrently, analysts said it could turn out to be a happy problem - if there is greater flexibility in the housing programmes.

 

Mr Colin Tan, Chesterton Suntec International's director and head of research and consultancy, suggested that new flats that are not taken up can be let out as rental flats, while Dennis Wee Group director Chris Koh said it could "bring forward everybody's waiting time" if some blocks within new Build-to-Order projects are set aside as rental flats.

 

At the youth dialogue, Mr Khaw cited his encounters at his Meet-the-People Sessions (MPS) with single mothers and divorcees who cannot afford to buy flats.

 

Mr Khaw said: "The problem that the HDB face is they are just short of rental flats. In the whole of Singapore today, we have about 45,000 rental flats. But that's not enough.

 

"It's quite clear in my mind, we need to ramp up the building of rental flats as quickly as we can. Not just by a few thousand, actually we need to build by tens of thousands. And the earlier the better."

 

Mr Khaw stressed though that it will take several years to make up the shortfall as building "such big numbers is not easy" for the construction industry, which is used to building between 15,000 and 17,000 units a year. Property experts estimate the new rental flats to come on stream within four years.

 

 

 

UNDERSUPPLY TO BE ADDRESSED FIRST: KHAW

 

The move was hailed as timely by property experts and MPs, who say up to 20 per cent of their MPS cases are those appealing for rental flats - meant for low-wage earners drawing less than S$1,500 in gross monthly household income, among other conditions.

 

In Parliament, MPs have been calling for more lax rules - such as shortening of the debarment period - for applicants of rental flats.

 

Wondering if Mr Khaw's comments signalled a shift in the Government's home ownership policy, Nee Soon Group Representation Constituency (GRC) MP Lim Wee Kiak felt that the current eligibility criteria are "very strict".

 

Bishan-Toa Payoh GRC MP Josephine Teo added that it would be helpful if the HDB could exercise some discretion in allowing those with "extenuating circumstances" to be allowed to rent temporarily, even if they do not meet the criteria.

 

She said: "Some people face difficulties in their lives and may need a little bit of time before they can transit back."

 

She noted, however, that the system should cater only to those who need it the most - a point Mr Mah had made when he announced tighter rules in February 2009 to prevent abuse of the system, such as people who cashed out on subsidised flats - and the immediate task is to meet the demand of those who meet the existing conditions first.

 

"The problem is supply is so short now that we can't even meet the demand even if these people meet the criteria. Even if we relax the rules, we won't have the supply to fulfil the new demand that will result," she added.

 

Speaking to reporters after the youth dialogue, Mr Khaw also pointed out that there must be enough capacity before the rules are relooked.

 

Said Mr Khaw: "Before you relax rules, you have to make sure there's capacity ... there's undersupply, we got to solve this supply problem first."

 

Property analysts noted that the ramped up supply of rental flats will have minimal impact on the property market.

 

Chesterton Suntec International's Mr Tan said: "Those who qualify for rental flats do not form part of the demand for new or resale flats in the first place so it's unlikely to cause any oversupply."

 

SLP International executive director of research and consultancy Nicholas Mak said that should there be a problem in the future of an excess of rental flats, it can be easily solved by demolishing some existing old ones. Mr Mak added the Government should also look at improving the quality of rental flats.

 

The problem is supply is so short now that we can't even meet the demand even if these people meet the criteria.

Seems like Mabok Tan had been sleeping at his job the last 5 years and just collect 2.5 million a year of taxpayer money for screwing up the whole housing system.

Like this still want to give him pension?!

[Kb27]

Horse can't do a proper job.

His eyes are always above the clouds.

Everything is always good and peachy.

[Yewheng]

Well.. but look at bright side.. at least in just less than one month after election, KBW could come out with 2 major changes already.. it is a good sign..

 

This is another major changes he make to increase the supply of HDB flat.

 

http://news.xin.msn.com/en/singapore/artic...umentid=4878638

 

And I believe there will be more changes to come.. [thumbsup]

[Watwheels]

The "side effects" of the housing policy nonetheless. In the first place housing is not catered for the divorcees, singles, single mothers etc etc. These ppl will more or less see the policy "penalizing" them, I dun blame them cos if I were single I would see it that way too. Although what they say about catering for the majority(specifically those married and stay married) they forgot...I beg your pardon, ignored the the divorcees, singles, single mothers instead. Never did they expect that these ppl get to vote someday and now they are caught with their pants down and screwed hard by the opposition.

 

Now say there's a shortage, what a nice way to put it. They should seriously relook the policies that "penalizes" ppl. The issues cannot be push aside, ignored and let it accumulate.

 

Sure they will say they dun want to encourage ppl to be divorcees, singles, single mothers but with the big issue of high cost of everything who wouldn't want to be married, stay married and have children? Focus on the ppl and their lives instead of wanting to achieve fantastic GDP results, looking out for themselves and ignore the rest. As we saw achieving great GDP results does not equate to ppl having a good time.

[Unidentified]

weird..why is there shortage of new flats?this is happening since 2006-2007.

is there too much NEW singaporeans?

[Wt_know]

well said.

it will not be "almost suddenly" if not because of election result

1 GRC + 1 SMC gives you this immediate change. imagine what 2-3 GRC + SMC could do

P8P now holds 81/87 seats ... 93% of the house

 

1 opposition GRC can cause so many changes.... imagine what 30% alternative voices in parliament can achieve....

 

 

never again 1 party dominance!

Edited May 30, 2011 by Wt_know

[Yewheng]

The "side effects" of the housing policy nonetheless. In the first place housing is not catered for the divorcees, singles, single mothers etc etc. These ppl will more or less see the policy "penalizing" them, I dun blame them cos if I were single I would see it that way too. Although what they say about catering for the majority(specifically those married and stay married) they forgot...I beg your pardon, ignored the the divorcees, singles, single mothers instead. Never did they expect that these ppl get to vote someday and now they are caught with their pants down and screwed hard by the opposition.

 

Now say there's a shortage, what a nice way to put it. They should seriously relook the policies that "penalizes" ppl. The issues cannot be push aside, ignored and let it accumulate.

 

Sure they will say they dun want to encourage ppl to be divorcees, singles, single mothers but with the big issue of high cost of everything who wouldn't want to be married, stay married and have children? Focus on the ppl and their lives instead of wanting to achieve fantastic GDP results, looking out for themselves and ignore the rest. As we saw achieving great GDP results does not equate to ppl having a good time.

 

Ya many a times things are not so simple as just achieving great GDP.. as the GDP itself only shown on papers.. what about people happyness? Another thing need to look at are Singapore chasing just for quanity of GDP rather than quality of GDP ? If chasing just for sake of good GDP and than want more forgners in singapore just to make up for the GDP, than the GDP is not a good GDP as it only make up for the numbers.. which could cause side effects like forgners stealing singaporeans job, bad FT importers, over crowded public transport.. etc.. So minister need to understand this that chasing GDP is not just for the numbers to make up for it.. but with fewer good quality products or talent is a lot better than inflex of Tom Dick Harry that come in and cause more problem to Singapore.

Edited May 30, 2011 by Yewheng

[Robin]

sometimes when u are doingt the same job for so many years, u dont see the problems

Edited May 30, 2011 by Robin

[RadX]

sometimes when u are doingt the same job for so many years, u dont see the problems

 

YEAH...Aand for MBT..he said the problem was OURS....blaming it entirely on us....

[Wt_know]

so 1 minister should not hold the same ministry for > 2 terms (max) ?

 

sometimes when u are doingt the same job for so many years, u dont see the problems

 

[RadX]

so 1 minister should not hold the same ministry for > 2 terms (max) ?

 

...and backdoor entrants should not be entertained......shows that they have no conviction to serve

[Qpik]

At Airshow....heard the Hen kena boo-ed cos he was late......

 

plse lah...those "WVIP" has total disregard for other pples' time.

 

since when hv they arrive early despite PA around to act as timekeeper & priority on road. arrive late don't apologize & like act like pple shd be grateful that "MVIP" grace the function. "WVIP" or not, basic courtesy also don't hv!

 

[RadX]

plse lah...those "WVIP" has total disregard for other pples' time.

 

since when hv they arrive early despite PA around to act as timekeeper & priority on road. arrive late don't apologize & like act like pple shd be grateful that "MVIP" grace the function. "WVIP" or not, basic courtesy also don't hv!

 

yah lor...knn.....

I was an invited VIP guest on Friday...arrived der 0730...too erly for anything too