MTI was simply out of touch. Policy makers took this task like preparing for some university economics assignment. Got to kick some directors onto the street to find out eh?
We don't want the asset enhancements. Just as I find it completely absurd when the estate is often upgraded and more beautiful than the inside of my house and many of my neighbors. What for? Give us lower prices any time.
Malls are just competing with each other and consumers are paying the price for their self defeating behavior. But I know just as there cannot be much corruption unless there is cashflow (Xi Jinping understands this superbly), at the same time it is much harder to make a profit or fatten the margin unless there are asset enhancements. Also who takes the cue to up rentals? The followers (smaller players) watch the leaders (big players). After the rent have gone up and you go and study it, no wonder you don't find the evidence we have been complaining about. MTI approach was naive or if they aren't stupid, it's sinister.
Another indictment that government is out of touch. Don't throw numbers at us, we are fed up with them. We will judge the pudding by the eating.
Link to article.
Update: May 21 9:30 am
ST has their version of the story this morning. An even more ridiculous telling. More and more readers are not going to be taken by such silly spinning. Doesn't help that many of these property players are big advertisers in an environment where SPH is inreasingly losing its pricing power.
Like everywhere else big business is muscling themselves into power and governments are becoming weaker.
When in doubt
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As simple as that
it is a marvel these days to believe anything they purportedly survey! Lies, damned lies, statistics.
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