The alternative news in 1 day? (part 38) – HDB prices “stabilised”?

January 23, 2014

I refer to the article “HDB;s green efforts set to rub off on developers” (Straits Times, jan 23).

3-room price from $179,000?

In the accompanying chart – “January 2014 BTO launch prices” – the starting price for 3-room flats at Punggol Bay View and Punggol Vue, are $184,000 and $179,000, respectively.

In 2010 – starting price from $150,000?

In the June 2010 BTO launch for Punggol Waves, the starting price was $150,000.

So, in the last 43 months, the starting price of 3-room flats in Punggol have increased by between 19.3 ($179,000) to 22.7% ($184,000).

Price increased 5.7% p.a.?

This works out to an annualised increase of 4.9 to 5.7%.

BTO prices have “stabilised”?

The above do not seem to gel with the repeated rhetoric that the prices of BTO flats have “stabilised” since the last general elections in 2011.

Also, HDB resale prices have been dropping in recent months.

Why is it that even the smaller 3-room flats are now being priced so much higher than before?

Leong Sze Hian

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About the Author

Leong
Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.