What do HDB numbers say?
December 22nd, 2009 | 
Author: Dear Jessica,
I refer to your report “What do HDB numbers say” dated 26 Oct 2009. I agree that the HDB’s definition of success rate can lead to pretty counter intuitive conclusions. High success rate is a reflection of flats being less than desirable while low success rate is a reflection of flats being highly desirable.
Therefore, the 89% take up rate for BTO projects last year shows that there are a lot of people in need of flats never mind their desirability.
A world where those who are offered a flat will go on to select it is not a perfect world but a communist world. For it is the communist dream that everyone’s needs can be allocated in accordance to plans. But the communist dream fell apart, revealing the capitalist reality of human nature where the average consumer makes a choice not because he is choosy, but because it is his basic right to choose.
The argument that land is limited and so flats have to be built at less than desirable locations ignores the issue of pricing. In the real world, less than desirable items of sale will have their prices slashed until they become attractive to consumers. But when it comes to HDB flats, their prices are fixed at “market values” even as the market shuns flats at undesirable locations or those on the second floor or facing the rubbish dump.
The argument that flats at prime locations are cheap compared to condominiums simply shows that condominiums are even more expensive and unaffordable.
The bottomline is this: the PAP government bought nearly all the land in Singapore sometimes as cheaply as $1 in the name of nation building. What right does it have to even charge market prices for flats built on land acquired on the cheap from the people?
Thank you
Ng Kok Lim
Posted in Letters
“A world where those who are offered a flat will go on to select it is not a perfect world but a communist world. For it is the communist dream that everyone’s needs can be allocated in accordance to plans.”
In a higher phase of communist society, after the enslaving subordination of the individual to the division of labor, and therewith also the antithesis between mental and physical labor, has vanished; after labor has become not only a means of life but life’s prime want; after the productive forces have also increased with the all-around development of the individual, and all the springs of co-operative wealth flow more abundantly—only then can the narrow horizon of bourgeois right be crossed in its entirety and society inscribe on its banners: From each according to his ability, to each according to his needs.
“The argument that flats at prime locations are cheap compared to condominiums simply shows that condominiums are even more expensive and unaffordable.”
>> but i heard.. people were queue-ing for condo. yes, no?
The government is only interested to suck more money from the citizen by importing large number of foreigners and then control the supply of new flat to escalate the price of resale flat, which is then use to price their new flat. Are they trying to use the money to cover their lost in Temasek Holding and GIC ????
Now it is the time for Singaporean to wake up as there are many who still live their dream or worshiping MM and his party as god given gift to Singapore !!!
the only way a flat at prime location to be cheap is to be a flat where murder,suicide have taken place. but who dares to live in it?
deoxin,
a roof over our heads is a basic necessity like rice. even if it is expensive, we still need to buy a place to stay. when the HDB is over priced, it forces people to seriously consider upping their budget to buy somthing that is more worthwhile.
secondly, people have gotten used to the fact that property prices will forever go up, up, up. as long as it keeps going up, people will view condos as safe investment. that is the mentality that has led to all property bubbles and their eventual bursts around the world.
for the past three years, property prices have shot up dramatically. control of prices by the govt is not evident. due diligence is not there. they are not worth the millions they are paid.
KNN,
I also suspect the same thing. But we have no proof …