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SINGAPORE - The Housing and Development Board (HDB) incurred a deficit of $1,639 million in the financial year of 2015/2016, according to its annual report released on Thursday (Oct 13).
The deficit from home ownership alone amounted to $1,179 million - which comprises sale of flats, CPF housing grants disbursed and the loss for flats currently under development.
Hoi Hup Realty has won the bid for an Executive Condominium (EC) site in Hougang, at a high price of $331.02 per square foot. This was around 6 per cent higher than the next bid, which was around $312 psf. This comes at a surprise to some, given that EC sales have been slow in the past year. Here’s what the high bid says about this unique class of housing:
SINGAPORE: National Development Minister Khaw Boon Wan has said the government loses "hundreds of millions" of dollars when constructing public flats.
He made the point on Thursday night at a dialogue session on housing issues.
This comes amid calls from some quarters for land costs to be taken out from the pricing of public flats to make them more affordable.
SINGAPORE - Tenders for three executive condominium (EC) sites will close on the same day - July 30. This unprecedented timeline has been designed by the Government to moderate tender bids and rein in private property price growth.
The previous practice of staggering deadlines allowed developers to wait and see if they won one tender before submitting a bid for the next. But they will now likely choose only one or two sites to bid for rather than risk winning all three at the same time.
It will be a keenly watched event as observers track if the new move will bring down the number of bids per site and affect the quantum of the winning bids, given the bullish offers for recent state tenders and the strong take-up rate for ECs.
