28 Mar '14, 3am

2-room HDB flats going for $10K #PR

Moreover, the latest flats’ biggest drawback is their smaller floor areas, as they only come in two sizes: either 36 sqm or 45 sqm. In comparison, two-room flats tend to be bigger than 40 sqm, said ERA’s Key Executive Officer Eugene Lim. Nonetheless, their total price is lower and this shows the government is committed in making HDB flats more affordable for indigent families, he added. In recent years, the housing board has been offering cheaper but smaller flats despite higher construction costs. For instance, the BTO launch in January 2014 saw a two-roomer at Woodlands Glen going for $13,000 with grants and $73,000 without grants. “The smaller the flat is, the greater the subsidy the government seems to give in the pricing,” said Mohamed Ismail, CEO of PropNex Realty. The decoupling of prices for new flats from resale prices in 2011 also contributed to this trend, he ad...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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