Former Singapore Prime Minister, Lee Kuan Yew, who served his country for more than 30 years, "passed away peacefully at the Singapore General Hospital at 3:18" Singapore time, said the government in a statement, as reported by The Wall Street Journal.
The beloved leader, who died at the age of 91 years old, will be remembered for his contributions to Singapore and its development.
He had several insights on property and real estate development in general, which even advanced countries may use as guiding principles.
1. Real Estate as a Sound Investment
According to leewatch.info, Mr. Lee had provided great tips on how one should value his or her property because if one sells it unwisely, one might not have something in the future to hold on to. Here are some of his words of wisdom.
"Everybody owns their own homes and the value of their homes go up as development takes place. Some are unwise enough to sell their homes, thinking they can buy another one, they then find they can't and have to rent a flat," said Mr. Lee.
Always think carefully and exercise prudence while assessing the real value of your home.
"But those who held on to their homes, I've seen their property values going up, five times, 10 times, 15 times, 20 times, " said Mr. Lee.
2. A Home For Everyone
Mr. Lee was an advocate of public housing from the start, reports leewatch.info. "This was the plan which we had from the very beginning, to give everybody a home at cost or below cost and as development takes place, everybody gets a lift, all boats rise as the tide rises," said Mr. Lee.
With this, everyone has a sense of ownership of the city, making them care more for the community, as noted in Urban Solutions.
Currently, 90% of Singaporeans have their own homes, The Wall Street Journal reports.
3. Embrace Change Yet Keep Up With Aspirations
The former Prime Minister, a Cambridge-trained lawyer, said public housing must be aligned and must "keep up" with the "rising aspirations" or dreams of Singaporeans, notes leewatch.info. It is not enough to just have a house, it must be fit to be called home, even in these modern times.
Mr. Lee said, " We are investing to bring it up to date and you pay a token sum, the government carries the rest and HDB [House and Development Board] has been doing a fine job to give you an environment that you have today," as reported on leewatch.info.
4. Safe Environment
Mr. Lee said a good city must also focus on a safe and comfortable environment. "It is no use having good surroundings, if you are afraid all the time," he said, as quoted by Urban Solutions.
He even added that in order to feel safe "The police force must be effective, [but] not visible."
5. Have a Clean Environment
When Mr. Lee visited Osaka and smelled chemical fumes from factories, he vowed not to let that happen in Singapore. "I said no, we mustn't allow that. We are a small island; unless we protect ourselves by placing the right industries in the right places - taking into consideration the prevailing winds - we will despoil the city. This could easily have become an unliveable city," he was quoted as saying.
6. Have a Livable Space
Mr. Lee, who was also an advocate of the environment said, "Hong Kong has crowded, tall buildings, you seldom get sunshine in the streets, no greenery... So I said alright, from west to east and east to west, we'll knock down the whole city and rebuild it," as reported in Urban Solutions.
In general, according to leewatch.info, the Minister aimed and provided to have a better environment for his fellow Singaporeans, "We became different, trees everywhere, opens spaces with grass, children's playground and a clean and safe environment," said Mr. Lee.
