SINGAPORE: Affordable and accessible housing has become a hot-button issue in Singapore, one that Parliament discussed at length at the beginning of the year. With little relief in sight, the issue has gone on to be covered internationally, and a May 16 (Tuesday) BBC article tackled the realities of soaring prices for Singaporeans.
The piece quotes Ms Eva Teh, a media freelancer, as being shocked late last year when her landlord proposed a 60 per cent increase on the rental fee of the flat where she and her husband have lived.
“We immediately went to search for available apartments. What we found gave us another shock. Rents have soared. The thought of not being able to afford a roof over our heads terrified us. It felt like doomsday,” BBC quotes Ms Teh as saying.
The piece goes on to say that upon negotiating with their landlord, Ms Teh and her husband agreed on the new rental rate of their one-bedroom flat in central Singapore to be $2,900, when it had previously been S$1,950.
Ms Teh told BBC she’s working harder these days to earn more, and they have an emergency fund to dip into, fortunately, for the months when they can’t make ends meet.
The rise in property and rental prices is due to a backlog in construction due to the building lull during the Covid-19 pandemic, but another factor is also at play—foreigners returning to work in Singapore.
Another reason is that more young people are no longer opting to stay with their families until they marry before moving out, but instead are choosing to strike it out on their own.
However, netizens commenting on the piece on Reddit say that the rental fee of $2,900 Ms Teh and her husband pay for their one-bedroom unit is actually already on the cheap side.
/TISG