Daily Lessons from Life 02 May 2012 - HDB flat sizes not shrinking: Khaw Boon Wan

"Wednesday, May 02, 2012 AsiaOne - HDB flat sizes not shrinking: Khaw Boon Wan

SINGAPORE - National Development Minister Khaw Boon Wan said on Wednesday night that HDB flats have been the same size for the past 15 years, and are not shrinking, contrary to popular belief.

Mr Khaw was responding to a National University of Singapore (NUS) student's question on HDB flat sizes at the annual REACH Contributors' Forum.

He added that they will not be reduced to the size of Hong Kong flats, which are far smaller, reported The Straits Times.

He told the audience that he would "consider that a deterioration of our quality of life and we should avoid that".

But homes by private developers are another matter, he noted, citing the increase in "shoebox" units on the market.

He said the Government may have to step in if the proportion of such units becomes too high.

Mr Khaw also assured Singaporeans the the high property prices now is a "temporary imbalance" of demand and supply.

"In the past five years, the population was growing rapidly that infrastructure could not keep up so because of the temporary imbalance, prices shot up. HDB has been aggressively pumping units into the market and although Singapore is not in the steady stage yet... there is some stabilisation," he said.

"We are seeking their understanding and patience... we are getting there. We will continue to work hard at it. In the next five-year term, I'm committed to build at least 100,000 HDB flats if necessary," he said."

It is very reassuring to hear that from the Minister. It august well for future Singaoreans as property prices cannot be the only MAIN failproof way to 'wealth creation' and 'capital gain generation'!

Lessons for me are:

1. being there at the forum and observing Minister Khaw close up has changed my impression of him somewhat. He spoke slowly but clearly and with much sincerity. I must say I am impressed.

2. it is heartening to know that the Minister has the basic fundamental values and philosopy about public housing close to what I held dearly. That public housing must be affordable to 1st time owners and must not go the way of flat size in Hong Kong. It is indeed a drop in quality of living if Singapore's flats went the same way as in Hong Kong!;

3. it is also great to learn that he may consider intervention IF the private developers produce too many 'shoe box' flats/apartments as it is also not a healthy development as overly crammed a place to call 'home' is simply not family friendly! :-)

May HDB flats continue to be the 1st choice of 1st time buyers with maximum affordability and minimum financial burden so that they young couples can concentrate on making and bringing up babies!!