22 Jun '11, 7am

"If we do a simple calculation and multiply the excess profit made by the private developer of this development...

Do not fall for the profiteering schemes of the HDB and the developers. Even with the $100,000 price reduction, DBSS flats are still grossly overpriced and beyond the reach of most Singaporeans. By now it should be clear to us how the HDB and the developers have been ripping us off. Let’s see how their schemes work: 1. The developer jacks up the price. Just as young Singaporeans are wringing their hands in desperation and wondering what to do, along comes the “kind” minister and say “No sweat fellas, you can’t afford to pay the down payment, don’t worry, we’ll help you with a grant. 2. The helpless young Singaporeans take the bait, and then get trapped into buying a overpriced air space and taking on a 30-year loan from the HDB. 3. The developer laughs all the way to the bank, and so does the HDB/govt. as they have already creamed off initially by selling the land at marke...

Full article: http://theonlinecitizen.com/2011/06/dbss-overpaid-by-550-...

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Blinkymummy: It's the great DBSS GSS!!

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