• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

Cost of building HDB flats – finally an answer?

by onlinecitizen
02/09/2009
in Current Affairs
Reading Time: 2 mins read
2

Leong Sze Hian

I refer to the replies by the Housing and Development Board (HDB) to the various letters in the Straits Times forum page over the past few weeks. (See below)

I also refer to media reports (“SGX mainboard-listed BBR secures S$104.2m HDB contract”, ChannelNewsAsia, Aug 17) that Singapore Exchange’s mainboard-listed BBR Holdings has secured a S$104.2-million contract from the Housing & Development Board (HDB) to build seven blocks of flats in Yishun Neighbourhood 4.

The work comprises 864 homes, a Child Care Centre, a roof garden, communal amenities and site works, as well as contingency works.

Since there will be 864 HDB flats, the average cost per flat, inclusive of communal amenities, site works and contingency works, is about $120,602 ($104.2 million divided by 864 flats).

With the latest HDB new 4-room flats at Punggol (Punggol Residences BTO) selling at an average price of $293,000 (price range of $264,000 to $322,000 divided by 2), does it mean that the HDB stands to make a profit of about $172,398 per flat, or a profit margin of about 143 per cent?

According to the report “Application for Additional Housing Grant doubled since HDB  enhanced scheme (CNA, Sep 1), it said:

“Since the additional housing grant scheme was introduced in 2006, the government has disbursed $251 million to more than 16,000 households”.

So, does it mean that the estimated profits from just one BTO project (about $149 million) as discussed above, may be enough to cover about 59 per cent of the total disbursement from 2006 to now, for the additional housing grant scheme?

Straits Times forum page letters:

“How HDB keeps it affordable” (ST, Aug 31)

“Two shortcomings : Public housing too correlated to private market, and HDB has not regulated supply” (ST, Aug 22)

“Flat hunting : Why cash over valuation ever introduced?” (Aug 20).

——

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

Minister Tan See Leng only reveals 500 intra-corporate transferees from India for last year – a Covid year
Opinion

Increasing number of working Permanent Residents in Singapore but with a stable PR population

03/02/2023
Opinion

A multi-party parliament is the only way to make sure that Singapore continues to not condone or tolerate corruption

03/02/2023
Anwar criticised over appointing own daughter as his senior advisor
Malaysia

Anwar criticised over appointing own daughter as his senior advisor

03/02/2023
Level of unemployment in Indonesia shows failure in the Job Creation Law, says KSPI
Indonesia

Level of unemployment in Indonesia shows failure in the Job Creation Law, says KSPI

02/02/2023
Commentaries

The Keppel bribery scandal tests Singapore’s zero-tolerance policy towards corruption

02/02/2023
Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives
Singapore

Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives

02/02/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
2 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments

Latest posts

Minister Tan See Leng only reveals 500 intra-corporate transferees from India for last year – a Covid year

Increasing number of working Permanent Residents in Singapore but with a stable PR population

03/02/2023

A multi-party parliament is the only way to make sure that Singapore continues to not condone or tolerate corruption

03/02/2023
Anwar criticised over appointing own daughter as his senior advisor

Anwar criticised over appointing own daughter as his senior advisor

03/02/2023
Level of unemployment in Indonesia shows failure in the Job Creation Law, says KSPI

Level of unemployment in Indonesia shows failure in the Job Creation Law, says KSPI

02/02/2023

The Keppel bribery scandal tests Singapore’s zero-tolerance policy towards corruption

02/02/2023
Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives

Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives

02/02/2023
US businesses ‘fear internet curbs in Hong Kong’

Hong Kong offers free flights after COVID isolation

02/02/2023
Why is Gautam Adani’s Indian empire in turmoil?

Why is Gautam Adani’s Indian empire in turmoil?

02/02/2023

Trending posts

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

by Yee Loon
30/01/2023
25

...

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

by Yee Loon
26/01/2023
24

...

They have done a fine job of confusing us about the jobs situation

They have done a fine job of confusing us about the jobs situation

by Augustine Low
01/02/2023
33

...

Two Indian nationals paid about S$330 and S$730 respectively for forged certificates submitted in their S-Pass application

MOM found issuing EPs meant for foreign PMETs to PRC waitress and general worker

by Correspondent
26/01/2023
41

...

Singapore warns slower economic growth in 2023

Less than 1 in 10 jobs created in first three quarters of 2022 went to Singaporeans?

by Leong Szehian
28/01/2023
69

...

Excessively charging for an essential need, and calling it affordable because people still can pay for it?

by Terry Xu
31/01/2023
39

...

September 2009
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930  
« Aug   Oct »

The Online Citizen is a regional online publication based in Taiwan and formerly Singapore’s longest-running independent online media platform.

Navigation

  • Editorial
  • Commentaries
  • Opinion
  • Politics
  • Community

Support

  • Contact Us
  • Letter submission
  • Membership subscription

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Fact Checking Policy
  • Privacy Policy

© 2022 - 2023 The Online Citizen Asia

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2022 - 2023 The Online Citizen Asia

wpDiscuz