HDB flats are built on Stateland (public land), so there should be no land cost.

Tiu-leh-see-fart said:

HDB high price has been a talk everywhere in singapore .

If stateland is public land, and HDB houses are on lease, there should be no land cost and property tax .

Leaseholders don’t own the flats and the pc of small land below the block.

Even if the small pc of land is factored into the selling formula, each household pays a little. .
On top of that, if one sells his or her HDB lease, they should get back the land money.

So HDB buys land from SLA, make any sense ?

HDB should come clean in details how much the cost to build public flats .

Saying only 30% of one income to pay HDB monthly is not a good excuse to sell them at high price.

After 25 to 30 years of paying, you have already paid twice the selling price.

Please spread the words around, we need to break this ice. Let stupid people think about it becos it concerns their children livelihood and future.

This HDB high price talk should continue until the next GE.

Think about it, if things are really affordable or not expensive, do we need subsidy?
Subsidy is just a whitewash to distract you mind things are not so expensive afterall when in fact they are still after the subsidy.

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A lease is actually a long term rent. There should be no property tax or conservancy fees as these things are supposed to be the responsinbility of the landlord. But when u sign the lease agreement with the HDB, it says u are paying all those things. U can don;t sign it and don't buy.

As for the cost of the HDB flats, someone deduced it years ago. Its around $50,000 for a smaller and $80,000 for the larger units. That is the cost to HDB based on what the winning bidder paid for the tender.

If you look at the costs breakdown:
1) Land - obtained very cheaply from people by paying them what they paid for the land 50 years ago. In other words pennies on the dollar.
2) Architecture costs- not very high as most buildings use the same basic engineering drawings
3) Labour - cheap too, as they use thai, bangla workers etc.
4) Financing - That is super cheap as the HDB borrows from the CPF. If the CPF pays u 2% a year, they can lend to HDB for slightly more, and still the cost to HDB is very low.
5) Interior finishings - well, that is cheap too, or non existent.

Therefore:

Cheap land + Cheap labour + Cheap material + cheap financing + cheap architectural costs = $350,000 flat? WTF.