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M
EASURES that were George Yeo said that
next year. This was a further sig- He said: “If we include the re- $530,000 for a five-room flat in
taken to cool the private- Asia-Pacific Economic
nal that the Government intend- cent sale of balance flats last Tiong Bahru”.
property market ap- HDB does not price its flats
Cooperation (Apec) delegates
ed to keep private homes month, HDB would have of-
pear to have worked, said Na- on a cost-plus-profit basis, he re- remained hopeful and upbeat,
affordable. fered over 7,000 flats in three
tional Development Minister minded the House. their mood reflecting the
MND had suspended the list months, and a total of 13,500
Mah Bow Tan in Parliament yes- flats this year. Taken together with the addi- gradual turnaround in the global
terday, underlining what many in October last year as the prop- economy.
“This is about half the tional housing grant, which var-
analysts had already concluded. erty market weakened, but re- “Due to the non-binding
number of flats in Bukit Pan- ies from $5,000 to $40,000,
He noted that the Urban Re- cently decided to reinstate it as buyers on average enjoy subsidies nature of Apec decisions,
private-home demand and pric- jang or Pasir Ris town. At this
development Authority’s month- rate, HDB would have offered amounting to about 20 per cent leaders and ministers could
ly data showed that sales of pri- es surged again. of the market price of a afford to be more candid and
enough flats to fill another
vate residential properties by de- These eight sites can hold an Bukit Panjang or Pasir Ris in four-room flat. more open to new ideas,” he
velopers fell month-on-month estimated 2,900 units, Mr Mah just two years.” said.
by 37 per cent in September, said. Another 18 sites have been Mr Mah offered this projec- “We reviewed the global
and by a further 29 per cent last put on the reserve list, he added, tion: “In the next five years, HELPDESK economic situation, launched
month. and all together, these sites can HDB estimates that it will need initiatives that will help
He attributed this, in the generate about 10,600 units – to offer between 10,000 and Reinstated: huī fù businesses and discussed
first instance, to the removal of the highest from any half-yearly 12,000 new flats per year to growth strategies to promote
the interest-absorption scheme Government Land Sales Pro- meet demand.” Affordable:
mǎi dé qǐ de durable recovery.
and the interest-only loans gramme since the reserve list Addressing a question by Mr “In particular, there was
scheme in September. system started in 2001. Chiam See Tong on construc- broad agreement on reorien-
On meeting the demand for Demand: xū qiú liàng
A third reason, he noted, was tion costs, he said that “the total tating our growth strategies to
that the Ministry of National De- Housing Board flats, Mr Mah cost of building flats varies address the challenges of
Subsidies: jīn tiē
velopment (MND) had reinstated said that the build-to-order sup- based on when we build, where climate change, globalisation
and macroeconomic
imbalances.”
This year’s summit also
managed to set key targets
such as making doing business
in the region easier, and
cheaper by 25 per cent, by 2015.
MORE INITIATIVES TO
INTEGRATE NEW MIGRANTS
THE National Integration
Council (NIC), set up in April,
will consolidate orientation
programmes for new citizens,
such as the People
Association’s National
Education Experience
Programme, and introduce a
Naturalisation and Integration
NOT JUST DUTY: Ms Mary May Simon Alayon (left) and Ms Candice (N&I) Journey, said Minister for
Ang went out of their way to help guests. (PHOTO: JAMIE KOH) Community Development, Youth
and Sports Vivian Balakrishnan.
Great service behind The N&I Journey will enable
new citizens to learn about