7 ms·

Last time I looked you could get a bto for ~$400k compared to $1.7-$2million for a comparable condo in the same area.

• sho 10y ago
  The condo in that case is going to be far superior in every imaginable way. A $400k BTO is going to be very basic. The rule of thumb is 20-30% discount on fair market value. Not 80%! Yes, it's a pretty sweet scheme if you're eligible, but it's not a total giveaway. If you really could buy a $400k HDB that was comparable to the $2m condo next door then the $2m condo would never even be built, as there would be no market for it.
  • sheepmullet 10y ago
    HDB vs resale HDB is 20-30%. HDB vs Condo is a lot more. There are serious restrictions on resale hdb flats which cause them to be priced a lot lower than condos. These restrictions are deliberate policy to ensure affordable housing and subsidise Citizens and PR. The major ones: - You have to be a citizen or PR of at least a few years. This cuts out 1.5 million people. - You have to meet racial and PR quotas. This limits demand. - You can't have other properties. This excludes people with overseas property and excludes wealthier Singaporeans from buying HDBs as investment property.
    • sho 10y ago
      Yes I know. You sound like you're agreeing with me. I was arguing against some long-ago comments that insinuated the subsidies were "massive", "incredible", etc, and that being born in singapore was some kind of golden ticket to a life of endless government gravy. This is not at all the case. I don't know where people thing the SG government would get these "incredible" subsidies from anyway. It's not the UAE!