Let’s be clear. To begin with, the HDB does not price new flats based on costs, neither development or land costs. That much the Minister for National Development Desmond Lee has stressed. So the argument over how land should be valued is moot because land cost does not come into the equation. I suspect some […]
Minister for National Development Desmond Lee recently gave a good explainer on the issue of land cost and HDB BTO Valuation in parliament. His explanation also covers why the HDB runs at a deficit of a couple or three billion dollars a year. Unfortunately, the parliament is a poor avenue for the treatment of an […]
With increasing numbers of million-dollar HDB homes in Singapore, is public housing still affordable?
Since the end of the Circuit Breaker, demand for housing has pushed resale flats prices to a new high with HDB resale prices rising for the 26th straight month in August 2022. The sale of million-dollar HDB did not slow down. In September 2022 alone, HDB recorded another 45 million-dollar HDB flats transaction, more than the 33 million-dollar flats […]
Singaporeans love to complain. They want their BTO fast. They want it cheap. And they want it big. For an island-state that is so small – just 719 sq km – Singapore has managed to build homes for 85% of households. Countries with vast lands have not done so. While many governments have focused public […]
A newly independent Singapore needed to be able to defend herself. To this end, Mr Lee Kuan Yew made a fundamental decision to build a national service armed force. “If we did not have the ability to defend ourselves, nobody, not even our own people, would have faith in our future,” Mr Lee said in […]
Some have tried to argue that you do not own your HDB flat because it is on leasehold. You are merely renting it permanently, they argued. This argument does not hold water at all. The basic rule of law is that you cannot sell something that does not belong to you. It would be illegal […]