Did govt raid reserves in selling $16k flats which used to sell for $76k?

[Confuseous]

That's how the 2-room flats, normally priced at $76,000 (35 sq m) to $133,000 (45 sq m), can be knocked down to $16,000. Okay, okay, two full grown adults will have to share 35 sq m to avail themselves of the Government's generosity. You can't exactly throw a big house warming party, but do note the standard size of a jail cell is usually 5.5 sq m.

The important thing to remember is that what HDB used to sell for $76,000 can actually be let go at $16,000. Without raiding the reserves, or risk HDB going bankrupt. The sour taste in your mouth comes about when you start thinking of the fat profit margins they have been raking in all these years.

- http://singaporedesk.blogspot.sg/2013/07/government-generosity.html

 

[Narong Wongwan]

I dunno what they were planning when they built these flats.
Apparently the allowing singles to buy is a last min u-turn....probably because these flats cannot be sold off.
Have to entice singles with incentives and grants.

 

[ginfreely]

I dunno what they were planning when they built these flats.
Apparently the allowing singles to buy is a last min u-turn....probably because these flats cannot be sold off.
Have to entice singles with incentives and grants.

Yeah read somewhere the two room flats were not selling well in previous BTO...