LKY: It was always the plan to provide homes at cost or below cost.

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SINGAPORE - While the transformation and changes have been "remarkable", the country's public housing has to keep pace with the rising aspirations of Singaporeans.

This, former Minister Mentor Lee Kuan Yew says, will ensure that Singapore's older estates and flats do not fall behind newer ones, in both facilities and design.

Speaking yesterday at a community event to celebrate the completion of seven new blocks of replacement flats at Havelock View, Mr Lee noted how Tanjong Pagar residents have benefitted from a wide range of estate renewal programmes, even though the constituency is one of the oldest public housing estates in Singapore.

And these upgrading programmes have improved the overall living environment in Tanjong Pagar, with residents enjoying a better quality of life than before, added Mr Lee.

The 1,218 units at Havelock View were designated as replacement flats under the Housing Board's Selective En Bloc Redevelopment Scheme for those who previously lived at Blocks 88 to 92 Zion Road, which were built in 1973. Standing between 25 and 40 storeys high, some higher floor units at Havelock View boast views of Orchard Road and the Botanic Gardens.

A total of 600 units were taken up by former Zion Road residents, while the remaining were offered for sale under HDB's Sale of Balance Flat exercises.

An HDB survey of 256 households found that residents were generally satisfied with the project. Close to eight in 10 of the respondents (79.3 per cent) were satisfied with the overall flat design, while almost nine in 10 were pleased with the facilities in the precinct.

While the HDB has made a difference in people's lives, allowing Singaporeans to own a home, Mr Lee cautioned owners against selling their homes for a profit thinking that they can buy or rent another one, as these are assets that will appreciate in value year after year.

For those who held on to their homes, their property values have gone up by many folds, he said.


"This was the plan which we had from the very beginning, to give everybody a home at cost or below cost and as development takes place, everybody gets a lift, all boats rise as the tide rises," added Mr Lee.

(Oh dear, here we go again, the same old chorus!)

Despite yesterday evening's rain, Mr Lee, along with other Members of Parliament of Tanjong Pagar, participated in the annual Tree Planting Day in the group representation constituency - a tradition that first began in 1963.

Recounting how he was determined to "green up" Singapore, after remembering the tall grey concrete towers and tarmac roads of Hong Kong, Mr Lee said it led to a new department being set up, which is now known as National Parks Board.

He added, "The job is never ending. The difference between Singapore and other cities is obvious. When you drive through from the airport into town you have a canopy of rain trees spreading their branches across the road. The trees, shrubs and creeping ivy on the walls are also greened up to give that sense of freshness and refreshes the spirit."

Even as authorities here do more to spruce up the estates, Mr Lee also urged Singaporeans to uphold the value of good neighbourliness. "If neighbours don't cooperate to keep a bond of ownership of the place, it will not succeed," he added.

TODAY
 
This is basically the "bigger fool" philosophy. You can keep on selling or reselling at higher and higher prices provided there is a bigger fool to buy it. Once someone finds that it is no more affordable, that's where the bubble bursts.

In Singapore this "bigger fool" game is often played not only within a small local market where the bubble can burst quite early before it reaches extreme proportions. In Singapore, the world is the market because of the way we embrace free enterprise. The bubble can grow very huge - the property bubble, the job and salary bubble, the cultural bubble.
 
"This was the plan which we had from the very beginning, to give everybody a home at cost or below cost and as development takes place, everybody gets a lift, all boats rise as the tide rises," added Mr Lee.


This LKY phase now very hot topic. Everywhere heard people talking.
Last week taxi driver $7k.
This week LKY HDB below cost price.
 
hi there


1. yo! what assets!
2. some leasehold item is no asset!
3. inflated price with some ever-growing bubble.
4. show the facts & figures on cost & below cost thing!
5. don't just blah, broken record.
 
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up to close to half a million for BTO is certainly not at cost or below cost. i can't believe that bull. hdb is just another quick way to fill the pockets of the government and its leaders.
 
"This was the plan which we had from the very beginning, to give everybody a home at cost or below cost and as development takes place, everybody gets a lift, all boats rise as the tide rises," added Mr Lee.



The PAP manipulates the notion of 'cost' and thus can claim to provide subsidized flats. PAP's definition of subsidy is only accepted in this tiny dot.
 
This LKY phase now very hot topic. Everywhere heard people talking.
Last week taxi driver $7k.
This week LKY HDB below cost price.

Lies if repeated often will become truths
This old man is a fucking Liar!
 
"This was the plan which we had from the very beginning, to give everybody a home at cost or below cost and as development takes place, everybody gets a lift, all boats rise as the tide rises," added Mr Lee.

At or below cost? Please lah.

If that's the case then what's the problem of showing true pink Singaporeans the cost of building the pigeon hole? Why? Dun dare to make Singaporeans feel proud of their politicians, feel fortunate to be born in Singapore or what?
 
I think its fair to say that in this day and age, the current batch of ministers should answer for the margins and the prices of the HDB flats which are meant for the public. If the HDB flat is meant to be available, why is there such a huge gap between what the average salary and flat?

If LKY is able to make such a statement, the current ministers should either come out to prove that it is true and support it, or come clean and tell it as it is. At the moment, they are being wishy washy with basic calculations that fail the simplest questioning.
 
Lies if repeated often will become truths
This old man is a fucking Liar!

Agreed.

Besides LKY has a personal net worth of about US$670 million.

FamiLEE (i.e. Pinky, his wife and children) have a net worth of about US$580 million.

Go figure!
 
It is true.

Cost of homes include the cost of land.

Land cost has gone up, because the valuation of land owned by the government has gone up. Sinkies are getting a bargain for tapping a scarce resource that is government land.

Such bold sophistry only the PAP may utter!
 
If that was the case a BTO flat at Clementi will be sold as cheaply as one in Sengkang but we all know that is not true.
 
If that was the case a BTO flat at Clementi will be sold as cheaply as one in Sengkang but we all know that is not true.

Land cost my friend, land cost. The plot may be mine, but when I sell you the good ones, it's gonna cost ya!
 
Sometimes I think we have to be consistent. On one hand, we ask for NS not to pay for allowances like today but the opportunity cost ... potential earnings compared to our women peers. But when it comes to housing, no the market and opportunity cost of the land etc does not factor, I want only the cost of building the flat.
 
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