3/05/2012

In the name of transparency and accountability

Please tell, how much it costs to build a HDB 2rm flat, 3 rm flat, 4 rm flat, 5rm flat and an EC flat.

12 comments:

Anonymous said...

Er..can u take the HARD truth???

Anonymous said...

Yes, come clean tell us.

Anonymous said...

Same as asking for the relationship between our CPF monies & Temasek...expect another "the relationship is not so simple" answer

Matilah_Singapura said...

As I said before, my beach-bum "guessimate" is SGD 10-15k per room, cost price, unit-flat only.

Anonymous said...

Dear redbean

Singapore government probably owns around 90% of the land in Singapore. Including our HDB flats.

Since the supply of land is limited to only one major supplier;
The price of the land is whatever the government wants it to be.

The building cost on the other hand is more transparent. Since there are many builders.

So focus your enquiry on just the cost of the building first.

Keep the building cost separate from the cost of land.

Eventually, the truth will prevail.

Chua Chin Leng aka redbean said...

Yes sir. Some time back thought I read somewhere that since we are so small an island, all the land are equally valuable and should be priced like those in the city. Someone needs to confirm on this policy of pricing our land.

Matilah_Singapura said...

Many years ago the state seized most of the land through eminent domain laws.

Since it is the majority owner, it can control the price.

redbean:

Someone needs to confirm on this policy of pricing our land.

I would say the policy is "ad hoc"...suka-suka according to what the introduced national policies requires at the time.

So far they said they'd pay "market rates". In previous times if they took your land to extend the road, you get slapped with a bill.

In Singapore you just have to wait for the state to tell you what's what. Don't even bother trying to fight it. Land is so limited the govt makes sure it has ULTIMATE CONTROL, which it does.

Matilah_Singapura said...

IMO there is no getting around HDB monopoly pricing. It has the monopoly, just accept it lah.

Whatever you pay for HDB will be inflated due to alot of factors -- demand, supply, cheap interest, CPF "tax credit" (which increases the velocity of funds towards HDB's thereby putting upward pressure on prices)...and the state is making a substantial PROFIT.

Get used to it lah. It's been that way for decades already.

Anonymous said...

The basis of pricing of land needs clarity badly.

After all, if they price the opportunity cost of the land into various essential services eg. hospitals, old folks homes, foodcourts, etc, then their policy that leads to high rental cost becomes the main driver for inflation.

Should the state peg the price the land for hospitals or polyclinics to nearby commercial shops?

Matilah_Singapura said...

anon 145

>> The basis of pricing of land needs clarity badly.


AFAIK it is very clear. "Market price" as interpreted by the state.

...and subject to change whenever necessary.

Gintai_昇泰 said...

What about those "no man lands" in those ulu places like Pasir Ris and Pungol? Squatters land or jungle where the govt just cleared them. Market price ? Those lands eg Bukit HO Swee or Redhill after a huge fire occupied by squatters in those days. Market price? Those kumpungs govt cleared and paid for a song. Market price. The govt is powerful. They decide what is market price and what is not!

Matilah_Singapura said...

@Gintai

The principle of law to aquire those lands is known as "eminent domain"

Singapore's eminent domain law is known as The Land Acquisition Act, which essentially makes it LEGAL for the state to seize land for "national development" purposes.

...which means, the govt can LEGALLY do anything it likes.