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In the annals of Singapore’s Parliamentary debates – perhaps the most significant and interesting debate ever was the following, on 17 March, 1988.
Little did we know arguably how significant it was then – until today.
How much do HDB flats really cost?
“Mr Chiam See Tong (Potong Pasir): I am much obliged to you, Mr Deputy Speaker. There are two questions which I would like the Minister to answer, both in regard to the pricing of HDB flats. The first one is, would the Minister be willing to announce or make public the market value of all the land in the housing estates used by the HDB? Now the Minister has come out quite forthrightly, unlike his predecessor, to say that the pricing of HDB flats, in fact, includes the land cost at market value. This market value is a very volatile concept or a very unsure one because market value can mean really anything, depending on what the HDB would like to peg the market value on. If the HDB could give an indication, then I think the public would know how much their flats really cost. Because successful tenders of construction cost are usually gazetted, so we have information on that. But up to now, the land cost has been a complete mystery. I think the Minister should have this cost of land because he put up a table which was distributed yesterday, and this table does not really give any details of how the price of each individual flat is arrived at.
The other question is the unit cost per flat. The Opposition has been at this since, I think, 1984 but we were unsuccessful every year. All kinds of excuses were given. If the Minister would remember, the former Minister said that it was difficult to give the unit cost because it varies from area to area. To make it easy, perhaps we confine ourselves to each particular New Town. I am sure he has figures of each unit cost.
HDB flats are subsidised?
Until the Minister can enlighten us on that, I think http://leongszehian.com/?p=8510
Little did we know arguably how significant it was then – until today.
How much do HDB flats really cost?
“Mr Chiam See Tong (Potong Pasir): I am much obliged to you, Mr Deputy Speaker. There are two questions which I would like the Minister to answer, both in regard to the pricing of HDB flats. The first one is, would the Minister be willing to announce or make public the market value of all the land in the housing estates used by the HDB? Now the Minister has come out quite forthrightly, unlike his predecessor, to say that the pricing of HDB flats, in fact, includes the land cost at market value. This market value is a very volatile concept or a very unsure one because market value can mean really anything, depending on what the HDB would like to peg the market value on. If the HDB could give an indication, then I think the public would know how much their flats really cost. Because successful tenders of construction cost are usually gazetted, so we have information on that. But up to now, the land cost has been a complete mystery. I think the Minister should have this cost of land because he put up a table which was distributed yesterday, and this table does not really give any details of how the price of each individual flat is arrived at.
The other question is the unit cost per flat. The Opposition has been at this since, I think, 1984 but we were unsuccessful every year. All kinds of excuses were given. If the Minister would remember, the former Minister said that it was difficult to give the unit cost because it varies from area to area. To make it easy, perhaps we confine ourselves to each particular New Town. I am sure he has figures of each unit cost.
HDB flats are subsidised?
Until the Minister can enlighten us on that, I think http://leongszehian.com/?p=8510
