Ultimate plot to squeeze Sinkies

[imperialarms]

Pang Sai liao loh. PAPPy price it whatever they want, must give money to HO CHING to recoup losses
Nov 18, 2008
Mkt-based pricing for new flats
By Aaron Low

Calling it a market-based approach, National Development Minister Mah Bow Tan said it was the fairest way of pricing new flats. -- PHOTO: THE NEW PAPER
WHEN pricing an HDB flat, costs are not taken into account. Its price is based on what the flat is worth at the point of purchase.

Calling it a market-based approach, National Development Minister Mah Bow Tan said it was the fairest way of pricing new flats.

'It reflects what the flat is worth at the point of purchase, which may have no relation to what it cost to build,' he added.

Mr Mah gave this response in Parliament yesterday to Mr Liang Eng Hwa (Holland-Bukit Panjang GRC) who had asked if the Government would consider pricing flats according to costs.

The minister also said that as the HDB did not take into account costs, its building programme suffered losses of $530 million a year over the last three years.

Mr Mah said a typical four-room flat in Sengkang costs more than $300,000 to build. This is above the $200,000 to $260,000 price at which HDB sells it.

He noted that there were concerns over the high prices of premium flats like the Pinnacle@Duxton, with prices ranging from $457,000 to $645,000.

But the prices reflected the value of the flats, which are located in Tanjong Pagar. For every one unit on sale, seven people want to buy it, said Mr Mah.

It shows people are willing to pay for flats with good value, he added.

 

[Dan Now]

Mah Karteh Tan should resign for being a total abject failure.

LOSSES OF 530 Million and for 5 years under his leadership and yet he is still the HDB head hancho ? What kind of meritocracy is this ?

How does Karteh Tan calculate the price when it is obvious that the HDB flat is a LEASE SCHEME and not a private property ownership initiative which the PAP have always claim it to be.

AND YET, THE HDB DESPITE SELLING ITS FLAT AT SUCH A HIGH PRICE CAN CLAIM THAT THE PRICE reflects market forces ?

Why not admit to the fact that the HDB flats are being snapped up by the untalented new citizens that the PAP have so warmly welcome to jack up the prices.

EVEN private property prices are falling but our great PM with all his wisdom can say he is not worried because HDB prices are stable ????

What a complete moronic statement. If truly the HDB flats is priced according to market forces, then surely, it must fall to reflect the market reality of our current state of economy.

Certainly also, that alot of Young Singaporeans are queuing up for their flats and yet, the HDB have not been building enough and yet KARTEH TAN claims that he is going to build more but they would have to wait for another few years. IS THIS THE BEST WAY TO ENCOURAGE CITIZENS TO HAVE MORE BABIES AND TO MAKE SURE THEY SETTLED DOWN QUICKLY ?

WHY ARE SINGAPOREANS WHO HAVE SERVE NS AND HAVE BEEN CITIZENS ALL THEIR LIVES HAVE NO PRIORITIES OVER THE NEW CITIZENS AND THE PRs who are CLOGGING UP ON THE HDB QUEUE ?

Dan

 

[Dan Now]

Which brings me to the next question.

If the New Citizens and PRs are so talented, why aren't they buying up the numerous condos that are on Bargains now ?

Property agents that I know are saying that many of the new citizens are trying to downgrade to a HDB home if the conditons allow them to do so.

Dan