Core principle of pricing new flats - affordability: Khaw

Clivebenss SG

By S Ramesh | Posted: 05 February 2013 1415 hrs

SINGAPORE: National Development Minister Khaw Boon Wan said the core principle behind the pricing of new HDB flats remains affordability.

Replying to questions in Parliament on Tuesday, he said the prices of new HDB flats are set based on the typical household income of families, the market price of similar resale flats in the vicinity, and the flat size and location.

Mr Khaw said HDB applies a substantial price discount to ensure that the new flats will be affordable and to give eligible first-time home buyers a leg up, the government provides them with significant housing grants of up to S$60,000.

He said in this way first-timers who buy new flats in non-mature estates will find them affordable.

MP for Nee Soon GRC Lee Bee Wah asked in Parliament: "If I heard correctly just now, minister mentioned that the resale price of the flats in the vicinity is taken into consideration. I thought recently minister mentioned the price of new BTO flat has just been de-linked from the resale price?"

Mr Khaw said: "The member has not heard wrongly. Both statements are correct. We take into account those factors, and we apply a discount, and then further we give extra grants to the members. But in recent months because when I de-linked - the meaning of de-linking means, I vary the discounts, so that the prices can maintain, steady."

Clivebenss SG

whose "affordability"?

Mr Milo SG

Ahem…..let me imitate someone…

“Every Singaporean has a car, at least…..”

Correct?

SJS6638 SG

sigh! still unrepentent ...........

Mr Milo SG

we can live in caves Laughing

charlize SG

Property agents huat ah.

jojobeach SG

Enslavement through debt.

lce SG

a whole bunch of liars

Clivebenss SG

It's an endless pursuit.

SevenEleven SG

affordable becomes a dirty word from their mouth Mad

Clivebenss SG

affordable becomes a dirty word from their mouth Mad

many things are affordable if disposable income is 7 figures.

Mr Milo SG

Laugh as much as you can
Laughing

SJS6638 SG

many things are affordable if disposable income is 7 figures.

ya, with exorbitant pay his bypass surgery only cost $7 or $8

singaporeans really ignorant, asked hospital for the same price surgery, hospital said no such surgery that cost that price.

hahahahahha ..............

people living in ivory tower, ordinary peasants staying in pigeon holes, no compare !

the Bear SG

either he's totally deranged, in denial or lying.. or all three

Tcsaaa SG

affordability = sucklablilty.. aka, as much as can squeeze out of u?

Clivebenss SG

this cow can bull all the way.

SJS6638 SG

affordability = sucklablilty.. aka, as much as can squeeze out of u?

squeeze us out all the way even beyond 2030.

squeeze locals not enough now all ready to squeeze more of foreigners

greedy really greedy ...................

what is the punishment for being excessively greedy>?

Tcsaaa SG

can only talk of punishment when 100% has wake up..

SJS6638 SG

tough to get 100%

charlize SG

Times are bad.