A stake in the nation through the stock market

I READ with interest the various articles and views on the overheating residential property market and the lacklustre stock market in Singapore. To me, the two markets are linked.

Since the early years of the nation’s founding, Singapore’s government has placed importance on ensuring that every Singaporean has a tangible stake in the country. The centrepiece of this policy is the HDB home-ownership programme, which has enabled more than 90 per cent of Singaporean households to be homeowners.

Indeed, Singaporean homeowners have benefited from the growth in their home values along with the country’s economic growth. The burgeoning residential property market in recent years, despite the enhanced Additional Buyer’s Stamp Duty for foreigners, shows that Singaporeans remain confident about the country’s future, and remain keen on investing for a stake in it.