The property market will become a bubble when the demand for properties are driven by speculators. Both speculator developers and speculator buyers. Developers just keep promoting to HDB flat owners, telling them to buy for investment. The outcome is the condos eventually become empty because there are no tenants. The number of FTs now is not sufficient to rent the empty condos. If the whole condo is bought by speculators and is just for renting out and with no tenant, the condo then becomes "ghost condos".

So, it is important that we must have a new rule that for HDB flat owners who buy a private property, they must sell their flat so that they will move to the condo. This will reduce the risk of "ghost condos".