What is circulating
“The government uses its monopoly over land supply and its immigration policies to deliberately inflate land and HDB flat prices in order to grow the national reserves.”
Claimed by Kenneth Jeyaretnam, Reform Party secretary-general, on Facebook · social media
The facts
The government says state land is sold at fair market value set independently by the Chief Valuer and that BTO flats are priced at a significant discount to resale flats. It says more than 8 in 10 first-timer families collecting BTO keys in 2024 could service their mortgages using CPF with little to no cash outlay. A POFMA Correction Direction was issued in March 2025, his ninth since July 2023.
Fact check: Factually (Government of Singapore) · Fact check: Ministry of Finance Singapore