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10/25/2008

Quote from HDB

'A new four room flat can cost close to $300,000 to develop, but is priced at about $200,000 to $260,000 in locations such as Punggol and Sengkang, said the board(HDB).' This is quoted from an article by Jessica Cheam in the ST today. Wow, selling at a loss. Real subsidy. And when the Pinnacles were being built at Duxton, they could priced them below $300,000 at the first launched. That price must be a discount too. But they also said the discount was marked to the market price of resale flats. Now that market price of resale flats have gone up, they are pricing them above $450,000! Big year end bonus coming. Why can't I get the reasoning right? I am very confused.

18 comments:

Anonymous said...

I never ceased to be amazed at their arguments simply because I have never been able to understand what they were talking about all these years.

Anonymous said...

there was a time when a can of coke costs 10cts, and for $30,000 you can get a bungalow twice as big as the normal bungalows we see today. is it any wonder then that hdb prices have also risen thru the years. so who should determine the price of coke at today's price, the value of a bungalow or hdb flat? you?

Anonymous said...

The cost of a hdb flat will be whatever the public is willing to pay. Like anything else the cost is determined by market force.

Anonymous said...

Every year there are around 20000 marriages in S'pore. Look at the number of flats available in a given year, is it any surprise that demand is high when you deliberately withhold supply to inflate the price of flats.

Anonymous said...

We may be getting another 1 million immigrants in the next 10 - 20 years. Together with our baby boomers going into the work place and starting their families each year, whoever expecting hdb prices to not rise needs his head examined.

Also why should anyone crusade that hdb prices should be this and not that, according to his fancy? I hope you are sane becos I am not sure that you are.

Anonymous said...

Does every marriage equates to a need for a new flat? I don't thnk so. Many continue to live with in-laws or in condos.

Anonymous said...

is that what the majority does? if not that is an irrelevant and weak argument.

Anonymous said...

To put at end to all these speculations and fault findings about what shud or shud not be done, I think the govt shud privatise HDB completely and let the market determines the true worth of the properties. In fact this subsidised housing thing shud have been dismantled as soon as the country left the underdeveloped stage to discourage middle class clutch mentality.

Anonymous said...

Now that market price of resale flats have gone up, they are pricing them above $450,000! Big year end bonus coming.

what mean you?
got money by all means, buy it. no money just work for it like everybody else. nobody owes you a living.

Anonymous said...

Rich people speak rich lingo!

redbean said...

the hokien has this saying, 'mm chai see' : )

during the asian financial crisis i have seen several of my frens, millionaires, declared bankrupts. it can happen very fast.

Anonymous said...

why dun you talk about people drowning in the bathroom or eating ice cream in the park on a rainy day?

i mean wtf has your sob story got to do with working hard, being thrifty and frugal, and saving judiciously for the money to buy a flat, like everyone else? what's fking wrong with that?

Anonymous said...

You sound like a young punk who has not seen life yet. The indiscriminate hike of property prices during the last crisis led to many pp holding negative assets. Do you know what that means?

Do you know that everytime property price goes up, your money shrinks? Only those owning properties are laughing. Idiot.

Reddy, ignore him.

Anonymous said...

Redbean;
anon 1.08 regrettably apologise for being rude to you, it was uncalled for and I am sorry bro.


Anon 11.18;
what's these "do you know" all about? a beauty queen quiz? afraid i cant help you there, it is not something i care two hoots about anyway. go figure out your mess quietly. or call SOS when you can't handle.

redbean said...

anon 1.08,

apologies accepted. we must try to accept differences in opinion. and it is healthy that we have different views. no need to be too hot over an exchange of views in cyberspace.

cheers all.

Brian said...

To help the low income own 1 and 2 room flats, these should be priced very much lower than the larger ones and can only be resold back to the HDB. Much like the old-folks studio flats now. We should also have a minimum wage afterall we have a minimum fixed cost of living in Singapore. But I digress...

Anonymous said...

i suggest the hdb introduce new generation rental apartments as an alternative for those who prefer to lease.

redbean said...

hi brian,

commercialisation is a different world from taking care of the people, especially the lower income or in our case the lower middle class. putting too much strains on their resources and ability is unnecessary and can be avoided with good pro people policies. not the type like raising basic costs to help them.