I AGREE with last Saturday’s letter by Mr Joshua Selvakumar, ‘Buying private property: Set quota to help citizens’.
If nothing is done to keep property prices sane, many Singaporeans hoping to own private property will go insane. The prices for an apartment or a house at certain locations have gone up by as much as a million dollars. It is madness.
My husband and I have been saving for years to buy our dream house. We are now nearing retirement and looking at today’s prices, we can simply forget it.
Sellers raise their prices every month believing that with the influx of foreigners and permanent residents, prices will continue to escalate. Now a million dollars seems not enough when buying a property.
I wonder how the next generation will be able to own property with skyrocketing prices. Will they migrate if they cannot afford a place in Singapore they can call home? My friends and I have discussed this topic and that is our fear.
Life will be very competitive and our children may not even start a family if a basic need is not within reach.
I hope something will be done to control property prices and make them go back to the good old days when we need not bid or ballot for a home.
Wong Mei Keng (Miss)
Source: Straits Times, 10 Nov 2009
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