The first part of this article (“Singapore property may be heading for long-term drop in value”, BT, April 20) touched on three of the six “defects” in our property market that might lead to a long-term decline in property values. In this second part, we consider the next three “defects”. One of the methods for capping prices in the residential market involved ensuring that a sufficiently large pipeline of supply is available to investors and buyers. The rationale is that increasing the sales of new HDB flats and private residences will lead to more competition among sellers and keep a lid on price growth. The exuberant pace of sales since Singapore pulled out of the global financial crisis in 2009 has led to a massive boom in construction. While BCA has reported better performance and higher scores in construction quality across HDB flats, ECs and private residential projects, there are also more and more high-profile cases of building defects, some of which have resulted in lawsuits.... Continue Reading