From 2009 to 2019, the average annual number of hdb built is at 17,642 units.
Mr Khaw Boon Wan served as Minister of MND during 2011 to 2015
Yet due to covid, in year 2020, we only manage to build 7,406 hdb units and in year 2021, the figure is at 13,887.
Obviously there is a severe lack of supply in the market, the demand is much more than the new supply. The number of BTO applicants has also proven it so.
Based on the latest figures of 1.1m hdb flats, 3% will be around 33,000.
If there is a new ruling to force all owners to sell away their existing hdb units, there will be an instant 33,000 units of resale hdbs. However, that will be an unlikely scenario.
If there is growing sentiment of people pointing the fingers to this group of people, the most likely affected group will be those that are multiple property owners who are already owning 1 or more private properties and not staying in the Hdbs.
The implications will be that owners who be given a timeframe to sell off their existing hdbs in the open market and disallow them to buy back HDB for a time period.
This move, will cause unhappiness in the small group, but help create more supply into the resale hdb market.
The numbers will not be significant but serves more like an appeasement policy.
Then of course, these owners will then have to reinvest their money into somewhere else, either back into private residential, other property segments or paper market.
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