Build more housing?
Also, while it stinks for people who are already tied into careers, having money flood into your community isn't exactly a bad thing for somebody entrepreneurial. I mean, if the new wealthy folks want to blow that cash locally, there's a lot of money to be made. It's demeaning in a "trickle-down" services sense, but it's cash to be had.
If a new property costs $500k to build, as a builder you would need to at least cover that cost. I can't imagine that this helps the poor unless it's government sponsored.
I would love for there to be more houses in the place I want to live but can't. But I don't get a vote because I'm not a resident.
In Singapore, unlike many other countries where people think they're out of space (including the UK), they may well be really running out of space - I believe there are similar problems in Hong Kong.
Once various plans to rebalance the economy away from London come to fruition (e.g. HS2) things will return to normal.
[1] https://www.gov.uk/government/publications/no-stone-unturned... and/or http://www.bbc.co.uk/news/business-20142837 - "The Heseltine Review" isn't a primary source of evidence for this assertion, but it's through this coverage that I learned of these ideas.