I HOPE the HDB can clarify how it prices the flats for Walk-in-Selection (WIS) and the balloting exercise.
The HDB Resale Price Index (www.hdb.gov.sg) has increased by one point from Q2/2005 to Q3/2006. Even when the overall property market sentiment seems to be improving during Q3/2006, the HDB's index dropped by 0.2 point. In comparison, I noticed that the prices of flats in the WIS in Sengkang (Nov 2006) have increased by 3 to 5 per cent compared to the one conducted in October 2005, despite the fact that those flats have aged.
I also notice that the prices in the recent balloting exercise in Queentown are high. For example, new four-room flats are priced about $3,345 per sqm compared to about $3,328 per sqm for resale flats from August to October 2006.
Tan Wee Ping
