20 Jun '11, 1am

Tampines' DBSS flats: Our reader says what struck him was that the developer did not pay a hefty price for the land.

I READ with disbelief the pricing of the new Design, Build and Sell Scheme (DBSS) flats launched in Tampines with $880,000 for a five-room flat ('$880,000: Priciest HDB flats launched in Tampines'; last Friday). What also struck me was the observation of market watchers that the developer did not pay a hefty price for the land. This record pricing could unduly create a spiralling effect on the prices of resale flats - not just in the vicinity but also the whole of Singapore - as sellers would now use this as a new benchmark. Minister for National Development Khaw Boon Wan should review policies governing DBSS flats to ensure that developers do not rake in obscene profits and create unnecessary bubble effects. One way is to have the pricing of DBSS flats remain under HDB's control.

Full article: http://www.straitstimes.com/STForum/Story/STIStory_681705...

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