SINGAPORE - The Housing and Development Board (HDB) incurred a deficit of $1.639 billion in the financial year of 2015/2016, according to its annual report released on Thursday (Oct 13).
The deficit from home ownership alone - which comprises gross loss on the sale of flats, CPF housing grants disbursed and the expected loss for flats currently under development - amounted to $1.179 billion.
Compared to the previous financial year, home ownership deficit was down 32.7 per cent from $1.753 billion.