Cash premiums fall for most estates

[yeokiwi]

What's Lim Hg Kiang's method?

Overbuilding of HDB flats. During 1995 to 1999 when he was the Minister for National Development, the flats were build in advance in response to the demand. Some said that he built in anticipation of mass immigration of Hongkongers due to the return of Hong kong to china in 1997.

But, apparently, the demand did not follow up with the supply due to Asian crisis and economy downturns in 2000 to 2003. HDB had so much excess flats at hand that they only managed to clear them by 2006 to 2007.

Because of the bad experience, MBT "cleverly" adopted BTO from 2006 onwards.