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12/02/2008

From subsidy to market subsidy to market price

The word subsidy in the context of HDB flats were hammered for many years until it takes the form of market subsidy today. It was called subsidy at the very beginning until a lot of digging revealed that it was not subsidy as people knew or expected but a kind of subsidy off the market price. When I looked into HDB website, I found that the prices of Pinnacle flats were priced at resale market price or at best a $2k subsidy using the average prices provided in the site. Until HDB explains where is the subsidy and how they got to price the second batch of Pinnacles at a subsidy or discount from market price, this is what it is. Market subsidy is near to market price or at market price.

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