Thursday, June 01, 2006
[RealEdge] TodayOnline Forum : HDB: Resale prices are left to market forces
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| HDB: Resale prices are left to market forces Thursday • June 1, 2006 Letter from LEONG CHOK KEH Deputy Director (Policy and Property) Housing & Development Board We refer to Ms Kuan Yen Ping's letter "Flat valuation falls, who pays price?" (May 24) which mentioned that the Housing and Development Board (HDB) had implemented measures to boost demand for new private properties, and suggested that the HDB also introduced housing policies to increase demand and prop up the valuations of 5-room and executive flats. We would like to clarify that the HDB does not implement policies pertaining to private properties. The HDB's mission is to provide affordable and quality public housing for Singaporean families. Just like private properties, the prices of resale HDB flats are subject to market forces such as the prevailing economic conditions, overall market sentiment and changes in preference among home buyers. In response to the changing demand patterns of HDB flat buyers, HDB has stopped building new 5-room and executive flats in recent years. This has helped to moderate the supply of the larger HDB flats in the resale market. The purchase of an HDB flat is a long-term commitment. Flat buyers are advised to plan carefully, exercise financial prudence and purchase a flat within their means. | |
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// posted by Shajahan @ 9:13 AM 