It said: “To determine housing affordability, HDB looks at resident household incomes and compares them with the range of flat types and selling prices on offer at every BTO launch.
In the last three years of financial years 2020, 2021 and 2022, HDB incurred a deficit of about $2.68 billion a year, it added. It said: “When state land is sold at fair market value to HDB, there is no increase in the value of the reserves. Neither are the reserves made worse-off nor diminished. It is a conversion of one type of asset to another .”First, the man claimed that HDB factored in land costs into BTO flats.
It added that construction costs are also published on the HDB website and government procurement portal GeBIZ, when tender results are announced. For Singaporeans who have difficulties paying the monthly instalments of their HDB housing loan, MND said there are financial assistance measures in place, such as deferring or reducing monthly loan instalments for six months.
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