The affordability of public housing has become a contentious issue for the ruling People’s Action Party, which has governed the city-state since independence in 1965 and has seen its popularity decline. – Bloomberg
SINGAPORE: Singapore introduced new curbs on public housing as new Prime Minister Lawrence Wong seeks to tame price that threaten to become a political flashpoint in upcoming elections.
The measures, which include a lower loan-to-value limit on financing from the public housing authority, are aimed at promoting a "stable and sustainable” market, according to a joint statement late Monday (Aug 19) from the Ministry of National Development and the Housing & Development Board.
