HDB BTO launch
I refer to the article “HDB launches 8,748 flats in May, including BTO flats in Woodlands, Yishun, Bidadari, Geylang” (Straits Times, May 18).
It states that “Prices range from $73,000 for a two-room flat in Woodlands to $489,000 for a four-room in Geylang.”
Cheapest 4-room in Geylang – $489,000?
According to the HDB’s web site – the price of the 4-room flats start from $489,000.
Cheapest 4-room in Geylang – $403,000 in Feb 2015?
The price of the 4-room flats in the Geylang BTO February 2015 was from $403,000.
This is an increase of about 21.3 per cent in about 27 months.
Price Index decreased 2.2%?
In contrast, the URA HDB Resale Price Index (RPI) decreased by about 2.2 per cent from 137.0 (4th quarter 2014) to 133.9 (first quarter 2017).
23.5% price differential?
So, why is it that the lowest priced 4-room flat in Geylang increased by a price differential of 23.5 per cent (21.3 + 2.2), relative to the RPI?
Leong Sze Hian