Minister reminds property developers of EC's policy intent

[NineEleven]

The govt auctions land so naturally developers want to maximise their investment. It's all business.

U rub my back, i rub yours.

 

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Hello, HDB themselves blatantly said they are selling subsidised apartments at a loss since CPF cannot see nor touch. How to invest and make a profit if you can't even cover costs? :bsmilie:

Deficit of several billion Singapore Dollars (SGD) as highlighted in their annual reports, ok? :bsmilie:

And HDB bought land from government at market price. How NOT to make losses...

Simple investigation, if anyone interested to know how much per HDB unit cost , just go to Gebiz to find out the construction cost (construction company will bid for the HDB's tender) and do up some calculations.
You will know how much roughly it cost HDB to build per units less land cost.

Taking the selling price of HDB per unit minus off the cost of construction per unit (please add in some buffer for building amenities) you will roughly know how much margin they made.

My 2 cents.

 

[koppite]

Few years ago before the crazy property boom, a land sales was put up for tender. A few developers put in their bids at then market price. Government withdrew the land sales after that citing price too low and poor economic condition blah blah....few years later, they put the land sales up again, this time netting double or more from the sale of that land. And it is at the outskirts of Singapore.

A $500-$600 psf home was inevitably inflated to >$1000 psf as a result, because the developers have to make profit too, and I see nothing wrong with that. But....the root cause???

 

[9V-Orion Images]

And HDB bought land from government at market price. How NOT to make losses...

Simple investigation, if anyone interested to know how much per HDB unit cost , just go to Gebiz to find out the construction cost (construction company will bid for the HDB's tender) and do up some calculations.
You will know how much roughly it cost HDB to build per units less land cost.

Taking the selling price of HDB per unit minus off the cost of construction per unit (please add in some buffer for building amenities) you will roughly know how much margin they made.

My 2 cents.

Don't forget to take into account the often mysterious increase in construction cost after a tender has been finalised and awarded. :bsmilie:

 

[An drew]

And HDB bought land from government at market price. How NOT to make losses...

Simple investigation, if anyone interested to know how much per HDB unit cost , just go to Gebiz to find out the construction cost (construction company will bid for the HDB's tender) and do up some calculations.
You will know how much roughly it cost HDB to build per units less land cost.

My 2 cents.

Once I checked and found that it cost 20k to build one HDB flat. We probably also paying for the land of the car park, market and hawker centre. I suppose that is why they stopped building hawker centres for more than 20 years, to help reduce the cost.

 

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Car park, market and hawker centre & etc cost so much? Think about it.

 

[9V-Orion Images]

Once I checked and found that it cost 20k to build one HDB flat. We probably also paying for the land of the car park, market and hawker centre. I suppose that is why they stopped building hawker centres for more than 20 years, to help reduce the cost.

You sure 20K? I think the elevator cost more than that.

 

[Fudgecakes]

You sure 20K? I think the elevator cost more than that.

Maybe he meant one unit? Haha

 

[ricohflex]

New round of cooling measures affecting public, private and even industrial property from today 12 Jan 2013.
Very well done.
This is what responsible government is all about.

Singapore is different from Hong Kong where a few powerful developers call all the shots and are practically out of control.
(No wonder they used to wine and dine the previous HK CE and family in developer's luxury yacht; plus Shenzen penthouse at special price)
Thus HK's proliferation of mickey mouse housing units, which are no longer approved in Singapore. Considered inhumane.

We also stop super sized 200 sq metre EC units which do not make sense if they cost $2Million-Plus as public subsidised flats.

 

[An drew]

You sure 20K? I think the elevator cost more than that.

20k is 1 unit. Like scanner said, this is easy to check. Elevator may indeed cost more.

New round of cooling measures affecting public, private and even industrial property from today 12 Jan 2013.
Very well done.
This is what responsible government is all about.

Singapore is different from Hong Kong where a few powerful developers call all the shots and are practically out of control.

Good to cool, but it seems like the measures are too draconian.