Saturday, 1 November 2014

Lianhe Zaobao

This was a report on the Singapore Economic Policy Forum, which was organised by the Department of Economics at NUS Faculty of Arts and Social Sciences and the Economic Society of Singapore. Associate Professor Tilak Abeysinghe, who is from the NUS Department of Economics, spoke on housing prices and income inequality. He noted that when property prices soar, the income of those buying property to stay flows to property developers, owners of apartments for rental and the financial sector. This form of income redistribution widens income disparity in the society.