2/20/2008

Same floor flat different price

Brother wanted to buy a 4 rm flat next to another brother but found price increased by $84k. It was $280k a year ago when his brother bought it from HDB. It is now $364k from HDB. This is reported in the New Paper. The price has gone up as it is marked according to market resale value of flats in the area. And this brother is unhappy. He found it unreasonable as the costs of building the two flats were the same. But he forgot. When his brother bought the flat at $280k, it was already subsidised. Now if he is going to pay at the same price, the subsidy will be whatever plus $84k! Now that is a very huge market subsidy. Further, the $364k is also cheaper than market price. I think he is expecting too much. Too unreasonable. $364k, good price, fair price. Cheaper than market price, and subsidised some more. What more does he want?

3 comments:

Anonymous said...

I can understand his bewilderment and frustration but his argument could have been better lah. Which stupid business person will sell his/her products at cost ? You can argue that the HDB should not be compared to a business but the fact of the matter is they are run like a business, heck they now even have a corporatised arm HDB Corp.

Anonymous said...

So we think that upgrading is going to increase the value of our flats when we sell it, think again how much you have to pay to buy a new flat from HDB or the open market. It is a loose-loose situation for HDB flat dwellers and a win-win situation for the HDB. Sure, upgrading will enhance the value of your flat, but you are obviously not the one laughing all the way to the bank if you have to depend on the HDB for a roof over your head. It is a case of heads they win, tails you loose lah!

redbean said...

actually people are very kind. if only they tell the brutal truth to the hardlanders, that if they can only afford to live in a HDB flat, tough. Not good enough. only themselves to blame.