14 Feb '17, 2pm

New post added at LushHomeMedia - Prevailing market conditions may influence cost of new HDB flats: Lawrence Wong

Prevailing market conditions may affect prices of new HDB units offered under the Sale of Balance Flats (SBF) exercises, said National Development Minister Lawrence Wong in Parliament on Tuesday (Feb 7). He was responding to a question by Workers’ Party chief Low Thia Khiang on the pricing mechanism of units under Build-To-Order (BTO) and SBF exercises and why prices could differ for the same flat in different exercises. Mr Wong explained that prices of balance flats may be slightly higher as they are closer to completion. The prices may also be updated if there is a change in prevailing market conditions. “For example, when the price of comparable resale flats in the vicinity have softened since the time of the BTO launch, the prices of balance flats may be lower than their original BTO prices,” said Mr Wong. This has been HDB’s practice all along, the minister stressed. ...

Full article: http://www.lushhomemedia.com/manage_posts/2017/02/14/prev...

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