FLAT PRICING Four questions on DBSS
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Jun 21, 2011 - ST Forum
I WAS appalled when I read Minister for National Development Khaw Boon Wan's response that Design, Build and Sell Scheme (DBSS) flats should not be compared with ordinary HDB flats ('Don't compare DBSS flats with regular ones: Khaw'; Sunday).
Instead of addressing the problem head on, we are fudging the issue here.
- First, the land on which DBSS flats are built is Housing Board land. Unless HDB has profited from the land sale, the private developer must have bought the land at a subsidised rate.
- Second, the flats sold are subject to the same HDB regulations. Therefore, for all intents and purposes, and in the mind of every ordinary Singaporean, those are just better- designed HDB flats.
I would like answers to the following questions which, I think, is in every ordinary Singaporean's mind:
- Is the land on which DBSS flats are built not HDB land and sold at a subsidised rate?
- Why would HDB allow a private developer to bid for land at a subsidised rate without any form of control on the selling price of flats built on that land?
- Is that not allowing the private developer to profit at the expense of ordinary Singaporeans?
- What is in it for HDB when the private developers profit at the expense of ordinary Singaporeans?
For a private developer to buy the land at a subsidised rate and then sell the property at market rate - that is gross profiteering.
The Housing Board's mission is to build affordable housing for ordinary Singaporeans. For a major part of our history, it fulfilled its role well. But, over the past several years, it has completely lost its direction and purpose.
Young couples have to defer marriage because they are unable to get a flat and prices continue to skyrocket beyond the reach of ordinary Singaporeans. It is time for a change.
Patrick Tan
- First, the land on which DBSS flats are built is Housing Board land. Unless HDB has profited from the land sale, the private developer must have bought the land at a subsidised rate.
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How many times must they tell you?
DBSS is not HDB.
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Originally posted by charlize:
How many times must they tell you?
DBSS is not HDB.
Yah It's not HDB. -
any big guns from sim lian?
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Originally posted by Almond Cookies:
Yah It's not HDB.Don't believe what the HDB website says about DBSS.
Somewhere in there, it also mentions things like "affordable public housing"
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Who came w/ DBSS?? MBT right?
So he let them bid all they want.
Broader view, whenever govt say build MRT, MBT release all e nearby land immediately. You see Ten Mile Junction or this DBSS (DTL at Tampines). Bid bid bid hor yi see.
Not subsidised, he let them bid all they want.. Let you die.
Any case, private developer also see ppl want flat, they'll bid also... So, consumer power comes in, too ex, dun buy.. Dun feed it, next time you see who would bid DBSS at high price e next round. It's like world cup TV rights.
MBT came from MINDEF, money wasting govt organisation. So maybe tat's why profits at all cost.
He alrdy said, he only bothered monthly affordability, heck care 30 yrs or not.
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Originally posted by charlize:
Don't believe what the HDB website says about DBSS.
Somewhere in there, it also mentions things like "affordable public housing"
Did you not read what Khaw said about affordable healthcare? He said that affordable healthcare does not mean it is cheap. I suppose he is applying the same to the "affordable housing" now.
Con man Khaw.
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Originally posted by shanfan:
Did you not read what Khaw said about affordable healthcare? He said that affordable healthcare does not mean it is cheap. I suppose he is applying the same to the "affordable housing" now.
Con man Khaw.
We lesser mortals can only get our definitions from the lousy internet.
Higher mortals and elites have their own definitions.
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Originally posted by shanfan:
Did you not read what Khaw said about affordable healthcare? He said that affordable healthcare does not mean it is cheap. I suppose he is applying the same to the "affordable housing" now.
Con man Khaw.
before finger pointing, go find out when e land tender was done...It was meant to throw a time bomb onto whoever becomes MND mini star aft GE.
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Reminds me
maybe this is e final time you can make good profits cos MBT might no longer e mini star aft GE.
Like I've said, profit making.. you want to make $$, I cannot is it?
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Originally posted by sbst275:
before finger pointing, go find out when e land tender was done...It was meant to throw a time bomb onto whoever becomes MND mini star aft GE.
Since you are so well versed on buses and HDB, do us a favour to post that here rather than to point fingers.
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Originally posted by sbst275:
Reminds me
maybe this is e final time you can make good profits cos MBT might no longer e mini star aft GE.
Like I've said, profit making.. you want to make $$, I cannot is it?
In all ministries they have their plans ready to make profits, so there is nothing new. Profiteering will still go on without Ma the shorty.Just need to remember the PAP exist as ministers for the purpose of profiteering.
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Originally posted by shanfan:
In all ministries they have their plans ready to make profits, so there is nothing new. Profiteering will still go on without Ma the shorty.Just need to remember the PAP exist as ministers for the purpose of profiteering.
mmm...Whichever govt will still do it... Mark my word.
Even WP takesover will still do so.. They've alrdy left their tail for 1 alrdy - public tpt...
Nationalise it... Profit from bus co will simply become more $$ for reserves than giving it back to minority shareholders that has hold SBS shares all these years.
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Sbst so fierce.
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Originally posted by sbst275:
Who came w/ DBSS?? MBT right?
So he let them bid all they want.
Broader view, whenever govt say build MRT, MBT release all e nearby land immediately. You see Ten Mile Junction or this DBSS (DTL at Tampines). Bid bid bid hor yi see.
Not subsidised, he let them bid all they want.. Let you die.
Any case, private developer also see ppl want flat, they'll bid also... So, consumer power comes in, too ex, dun buy.. Dun feed it, next time you see who would bid DBSS at high price e next round. It's like world cup TV rights.
MBT came from MINDEF, money wasting govt organisation. So maybe tat's why profits at all cost.
He alrdy said, he only bothered monthly affordability, heck care 30 yrs or not.
MBT, according to this Wiki thing seems to hang around SBS for quite some years but never in MINDEF, but anyway, even if MBT really hangs around SBS so long, yet can't do much for transportation woes, then maybe that's already quite telling on his abilities even in the earlier years.
http://en.wikipedia.org/wiki/Mah_Bow_Tan
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Whatever it is, KBW already said no money don't buy, simple as that. I like that, so brutally honest to lesser mortals.
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Originally posted by Askingyouto:
Whatever it is, KBW already said no money don't buy, simple as that. I like that, so brutally honest to lesser mortals.
Don't buy, never mind.
But it affects future pricing of resale flats around the area.
Lesser mortals will suffer.
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Originally posted by charlize:
Don't buy, never mind.
But it affects future pricing of resale flats around the area.
Lesser mortals will suffer.
So pricing of resale flats around the area will also be priced higher by the sellers?
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Originally posted by Askingyouto:
So pricing of resale flats around the area will also be priced higher by the sellers?
For resale flats which are around the area, that means they more or less share the same amenities like this DBSS project. ie, MRT, bus services, malls etc.
So if you are selling your regular HDB flat, would you not want to price your flat as high as you can in relation to this DBSS project?
DBSS project sells for $880K, you might want to sell your regular flat for say $600K.
New HDB flats are priced according to surrounding resale flats as comparison when they are first launched for public.
If resale flats are selling at $600K, then new flats might be priced slightly lower at $500K.
You want to pay half a million dollars for a regular HDB flat?
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Originally posted by charlize:
For resale flats which are around the area, that means they more or less share the same amenities like this DBSS project. ie, MRT, bus services, malls etc.
So if you are selling your regular HDB flat, would you not want to price your flat as high as you can in relation to this DBSS project?
DBSS project sells for $880K, you might want to sell your regular flat for say $600K.
New HDB flats are priced according to surrounding resale flats as comparison when they are first launched for public.
If resale flats are selling at $600K, then new flats might be priced slightly lower at $500K.
You want to pay half a million dollars for a regular HDB flat?
Thanks for elaborating, so PAP ministers can only implement policies, whether good or bad, once done deal, no going back.
They can sign lots of blank cheques like illiterate fools, funded by the good people of Sinkapore.
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DBSS = (D)evelopers n the housing (B)oard
(S)crew (S)ingaporesans.
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Jun 22, 2011 - ST Forum
Ministry to review DBSS housing option
MR PATRICK Tan asked four questions on Design, Build and Sell Scheme (DBSS) flats ('Flat pricing: Four questions on DBSS'; yesterday).
They are good questions.
Land for DBSS flats is sold via open tender to private developers.
DBSS flat buyers are indeed subsidised by the Government, but they receive their subsidy directly through the Central Provident Fund housing grants.
In bidding for the land, developers will have to take into account the demand and the prices they will charge for their flats. If they over-bid, they will make a loss on the project. If they over-price their flats, they risk poor demand.
In the case of Centrale 8 at Tampines, Sim Lian, the developer, won the tender last year at $260 per sq ft.
In accordance with the contractual terms when it tendered for the land, the developer has the flexibility to price the units. HDB does not dictate their prices nor profit from their sales.
The DBSS scheme was introduced in 2005 to offer greater choice and wider variety to meet the housing aspirations of higher-income flat buyers for better design and finishes. So far, 5,500 DBSS units have been built and sold. They make up a small proportion of public housing, but are well appreciated by the buyers.
As part of the overall review of housing policies, the Ministry of National Development will be reviewing the DBSS housing option.
Lee May Gee (Ms)
Deputy Director, Housing Division
Ministry of National Development -
Poor developers.
If the previous minister was still around, he might have kept policies as it is.
Fast forward 1 month after the elections, things change so fast and furious.
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ok.
Question time.
Which of these 2 don't belong to the government?
1) Singapore Land Authority
or
2) Housing Development Board