WP’s Louis Chua Contradicts Own Party on Singapore’s Housing Affordability

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Who is the one flipping prata? Workers’ Party Louis Chua had co-authored a Credit Suisse report titled “Singapore Property Sector 2023 Outlook: A beacon of light comes into view” in January 2023. In this report, he argued that housing affordability in Singapore remains healthy for the average household, given wage growth momentum amid a tight labour market.

Some of the points listed in the report:

“Despite cooling measures, a S$1mn home is estimated to be affordable for households on an overall average income in Singapore.”

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“HDB remains relatively affordable with MSR well below 30% threshold”

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“Relative to the region’s housing, remains relatively affordable for Singapore”

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However, to the public and in parliament, the Workers’ Party would maintain their stance that public housing in Singapore is unaffordable. Here are some examples:

This is just another instance of WP feeding on populist ideas, even if their own people believe differently. Even if their own people actually know what the facts are. What a blatant hypocrisy!

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