Monthly Archives: September 2009

How HDB determines the prices of flats

Posted on 20 Sep 2009 | Comments Off on How HDB determines the prices of flats

A new flat’s equivalent market price is first determined by looking at the recent transacted prices of resale units nearby.

Adjustments are then made to account for factors like location, finishes of the flat and other attributes. The price reflects the flat’s value at the point of purchase and is what people are willing to pay on the open market for such a unit.

The HDB then sells it at a significant discount, which is the subsidy given by the Government. The HDB sells flats based on market price instead of cost as this is the fairest way of pricing new flats.

A market-based pricing approach ensures that all groups of buyers enjoy similar discounts to the market and would be fair to those who are buying other HDB flats today.

It is not tenable for the HDB to price flats according to their development cost, which fluctuates depending on factors such as site conditions, material price and tendered construction price.

Source : Straits Times – 20 Sep 2009

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In a tangle over public-private tie-ups

Posted on 20 Sep 2009 | Comments Off on In a tangle over public-private tie-ups
An artist’s impression of the Sports Hub at the National Stadium site in Kallang. The project’s completion date has been delayed repeatedly. — PHOTO: SINGAPORE SPORTS HUB CONSORTIUM

The $1.87 billion Sports Hub, to be built on the site of the current National Stadium at Kallang, has not exactly been the poster boy for public-private partnership (PPP) projects.

More than two years after an elaborate, pomp-filled closing ceremony involving a friendly football international between Singapore and Australia – billed as the Grand Old Dame’s last match – the National Stadium remains standing and continues to host events.

For a gamut of reasons, most recently delays in finalising funding from financial institutions, the Sports Hub’s completion date has been pushed back repeatedly from 2010 to 2011, 2012 and now 2013.

This has left many wondering whether it should have been built the same way other major infrastructure projects are – with funding from the Government.

A PPP is a long-term (usually 15 to 30 years) collaboration between the public and private sectors to deliver infrastructure and services. Continue reading →

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