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April 19, 2009
Profiteering or justified? What is HDB’s stand?
Ash Tong said:
As the recession might be hitting Singapore hard, I hope that the HDB will be transparent with how their market pricing model works.I refer to the 4 room flats in Treetops@punggol project as an example. Treetop@punggol was released April 2008 and the indicative price range for a 4-room flat then was $208,000 to $254,000.
In the October 2008 half annual sale, the price range for Treetops was then listed between $235,000 -$309,000.
In The Half Annual Sale in April 2009, the same development is being sold between $276,000 and $298,000.
The difference translates to at least a 15% price increase. No amenities have been built nearby yet. Neither are there any differences from the master plan for Punggol 21.
Recommended by at82: "HDBs' price seems to defy gravity even as Singapore is facing its worst recession..."
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