‘Asset enhancement’ not be the best term to use

In spite of all the noise the Opposition has made, no sound proposal to solve the issue of transport costs has been put forwad. Nor have they given any sensible solutions to increasing housing costs.

The Government is dedicated to providing affordable housing to Singaporeans; it is also dedicated ‘asset enhancement’ for Singaporeans’ homes. However, asset enhancement only makes sense in the event that you sell your property. I don’t think encouraging Singaporeans to sell their homes is Government’s aim – it wants us to own property, not sell it. But in using the term, it inadvertently conditions the owner to sell and make a profit if he can to realise asset enhancement.

The Government should replace the term with ‘lifestyle quality enhacement’, which would imply quality living in quality housing. While making housing affordable and easy to own, the Government must also make it difficult to sell under certain conditions. While buying and selling a property is an individual’s choice, an en bloc sale is a different matter where minority property owners are forced to sell by the majority – nobody should be forced to vacate his property even if he is a minority of one. Making en bloc sales difficult could to some extent control the rise in property prices.

Source : Today – 29 Apr 2011

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