HDB’s response “Why we peg to market rates: HDB” (Sep 25) to my earlier letter has necessitated my right of reply.
Instead of merely accusing me of being “misleading and illogical”, HDB is expected to be transparent in disclosing fully the actual breakeven cost of new flats in all its projects. After all, these are public housing developed with public funds.
The remarks of a couple wanting to start a family sums up the genuine frustrations of young Singaporeans at the sky-high prices of public housing: “How to live in cheaper Woodlands when work is in Shenton Way and parents are in Tanah Merah? The Government must come up with more practical solutions !”
Let me now summarise these two main issues:
* Root cause behind high prices of new and resale flats.
In the 1970s, at Marine Parade Estate, prices of 3-room, 4-room and 5-room new flats were $17,000, $20,000 and $35,000 respectively. Continue reading
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