Unfortunately, the Genie is already out of the btlote. The suggestion to have a new category of housing that is based on controlled prices will not work. It will ultimately distort the prices in the rest of the housing market as it will draw away buyers from the non-controlled segment to the cheaper, price controlled segment. Reduced number of buyers in non-price controlled segment, same number of units available for sale means prices will come down. Doing anything now that will cause the price of housing to drop whether sudden or controlled descent - will no doubt cause lots of unhappiness among people who have already bought a house - 98% of Singaporean households? For any government to deliberately cause housing price deflation - that would be political suicide. The best that one can hope for is that the price rises can be limited to a small amount (<2% perhaps) year on year. No person already owning a house and up to their necks in mortgages will want to see prices decline.