Singapore’s property prices, which rose for 12 straight quarters and bucked a global housing slowdown, are shaping to become a major political issue in the city-state where elections are due by 2025.
Singapore’s prime minister-in-waiting Lawrence Wong used a May Day rally to address concerns over a red-hot property market fueling economic inequality, saying citizens will always have affordable homes.
“Affordable and accessible public housing, like access to first-rate education and healthcare will always be a key part of our social compact in Singapore,” Wong said on Monday, calling the government-built flats the world’s best.
