www.shaproperty.com

Sep 22, 2007

3-room HDBs now going for $1,500

I refer to the letter 'Housing still available at affordable rentals' by Madam Yeo Boon Eng (ST Online Forum, Sept 18) which stated that that you can still rent a comfortable, spacious four-room HDB apartment in an easily-accessible housing estate for about $1,000 a month. I am a Singaporean and have been looking to rent a three-room HDB apartment in the west for two months.

Owners of the current (more than 20 years old) three-room HDB flats are asking for $1,500 a month, unfurnished, without aircon and in original condition.

My brother and friends are into property, we know the situation well. All you need to do is to pick up the phone and start calling all those rental units listed on websites or in classified advertisements to find out how things are.

Not only are rental prices insane now, but HDB flats are getting too expensive for young couples to afford.

If the current situation continues, Singapore will lose the many of the 'vocal' expatriates and foreign talents that we worked so hard to attract.

Because of the high cost of living, foreign companies will start to invest in other parts of Asia.

I have complete trust that our Government will look into this matter urgently.

Yvonne Tan (Madam)