Monday, June 2, 2008

New HDB Flats Priced Too High

Source : The Straits Times, Jun 2, 2008

I READ with interest news on the Housing Board website on the new build-to-order (BTO) projects launched in Punggol and Sengkang.

However, I am astounded by the high prices of the four- and five-room flats. The five-room premium flats in the Punggol Sapphire BTO project are selling at between $330,000 and $400,000. These prices are comparable to the new flats on sale in mature estates just two years ago.

They cost almost $100,000 more, or an almost 50per cent jump, than similar flats in Punggol just two to three years ago.

By pricing the units so high, is HDB not further stoking the inflationary trend of home prices?

Ho Koon Woei

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