What is the cost price of your HDB?
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SGX mainboard-listed BBR secures S$104.2m HDB contract
By Jonathan Peeris, Channel NewsAsia | Posted: 17 August 2009 1511 hrs
Photos 1 of 1 
SINGAPORE: Singapore Exchange's mainboard-listed BBR Holdings has secured a S$104.2-million contract from the Housing & Development Board (HDB) to build seven blocks of flats in Yishun Neighbourhood 4.
This is the company's first HDB contract and work is expected to begin next month.
The project will be carried out in 10 phases and is expected to be completed by 2012.
The work comprises 864 homes, a Child Care Centre, a roof garden, communal amenities and site works, as well as contingency works.
With this latest win, BBR said on Monday its order book for civil engineering and building projects stands at S$396 million, with projects predominantly spread out in Singapore and Malaysia.
- CNA/yb
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Just a rough estimate ok.....out of the S$104m, S$80m is used to build the 864 homes, therefore each house will cost about S$90k plus. Each house will sell for $250k to $350k. That works out to about $155m of profit for that little estate alone.
And considering that the HDB is so rich, we still need to fork out our own money for Life Upgrading Programme. They built the HDBs, they omitted the lifts back then and now that singaporeans are old, they ask us for money to co-share in building the lifts. Some of the struggling old folks have to fork out thousands. Think of those aunties who scavenge cardboards and collect plates in the foodcourt.....got money meh?
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My friend also told me that.
Those old hdb flats which only have lift at certain floor.
And with many aged peoples, govt want to LUP, a 'grand' project to help the ages people so they wont take up steps.
But then, each unit have to pay for it.
Now, shouldnt the govt pay all the cost?
Afterall, everybody can only live for 99 yr.
Then will be return back to the govt.
Why need to pay for LUP?
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That reminds me of the "spurs are stuck in your hides" saying by old man lol.
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Just vote the pap out in the next election.
Don't need to talk so much
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Originally posted by likeyou:
My friend also told me that.
Those old hdb flats which only have lift at certain floor.
And with many aged peoples, govt want to LUP, a 'grand' project to help the ages people so they wont take up steps.
But then, each unit have to pay for it.
Now, shouldnt the govt pay all the cost?
Afterall, everybody can only live for 99 yr.
Then will be return back to the govt.
Why need to pay for LUP?
No complaint. They are happy paying. Who says PAP is no good?
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How much they have to pay for LUP?
Is it a large sum like a 5 digit figure or less than that?
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Around $5k to $10k for unit?
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Originally posted by likeyou:
Around $5k to $10k for unit?
That is too expensive
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Originally posted by Rock^Star:
Just a rough estimate ok.....out of the S$104m, S$80m is used to build the 864 homes, therefore each house will cost about S$90k plus. Each house will sell for $250k to $350k. That works out to about $155m of profit for that little estate alone.
And considering that the HDB is so rich, we still need to fork out our own money for Life Upgrading Programme. They built the HDBs, they omitted the lifts back then and now that singaporeans are old, they ask us for money to co-share in building the lifts. Some of the struggling old folks have to fork out thousands. Think of those aunties who scavenge cardboards and collect plates in the foodcourt.....got money meh?
I understand your calculations. You expect the land to be given totally free to you for 99 years.
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Originally posted by dechang:
How much they have to pay for LUP?
Is it a large sum like a 5 digit figure or less than that?
Local, first generation owners of HDB flats pay less than $300 for the Lift Upgrading Programme lor.
BUT PRs pay more than $5,000 for the LUP.
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Originally posted by Devil7030:
Local, first generation owners of HDB flats pay less than $200 for the Lift Upgrading Programme lor.
BUT PRs pay more than $5,000 for the LUP.
btw, how much really per unit need to pay for lup? -
Originally posted by likeyou:
btw, how much really per unit need to pay for lup?Local, first generation owners of HDB flats pay less than $300 PER UNIT for the LUP
PRs pay more than $5,000 PER UNIT for the LUP.
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Originally posted by Devil7030:
Local, first generation owners of HDB flats pay less than $200 PER UNIT for the LUP
PRs pay more than $5,000 PER UNIT for the LUP.
How you know?
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Originally posted by dechang:
How you know?
How come you don't know ?
You got no friends, relatives, classmates or colleagues that live in HDB flats that have undergone LUP ?
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Originally posted by Devil7030:
Local, first generation owners of HDB flats pay less than $300 PER UNIT for the LUP
PRs pay more than $5,000 PER UNIT for the LUP.
Thanks.How about 2nd or 2rd owners? Not prs.
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Originally posted by eagle:
I understand your calculations. You expect the land to be given totally free to you for 99 years.
the land was free to the gabrament... because it belongs to the people..
now remember.. the HDB is building tenement homes for the people.. note the word: FOR the people...
it is not and i repeat, NOT to be used to gouge people for profits...
it is wrong and immoral to use these tenements which were built for the people as instruments for speculation and profit...
however, i guess even morality has its price.. and it seems that the gabrament has sold it really cheaply for a myopic gain, and created a quagmire which they have no clue to get the country out of
so it's full steam ahead, damn the torpedoes
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Originally posted by the Bear:
the land was free to the gabrament... because it belongs to the people..
now remember.. the HDB is building tenement homes for the people.. note the word: FOR the people...
it is not and i repeat, NOT to be used to gouge people for profits...
it is wrong and immoral to use these tenements which were built for the people as instruments for speculation and profit...
however, i guess even morality has its price.. and it seems that the gabrament has sold it really cheaply for a myopic gain, and created a quagmire which they have no clue to get the country out of
so it's full steam ahead, damn the torpedoes
But still, expecting the land to be given free? HDB needs to pay SLA leh, or so I think
Anyway, the economic implications of selling HDBs now at $90k is very big. It will result in a major property crash, and devalue the networth of all asset rich Singaporeans. Rentals drop, housing prices drop. This will in turn lead to property companies to experience drops in profits, and in turn lead to lesser borrowings and lesser constructions, etc. And when everyone's profits drop, it will lead to retrenchments, etc. It will be a destructive cycle.
"it is wrong and immoral to use these tenements which were built for the people as instruments for speculation and profit..." -- the question is, how true is this?
My take is, the prices of HDBs are so planned to ensure long term growth in property prices, and make citizens happy. And with inflation, how could we ever expect the prices to remain the same as in 1980s, when my dad bought a 5-rm flat for around $80k+? Fast forward to 2010 at $325k with lifts at every block in a more affluent Singapore. It's still a tad expensive as the prices grew greater than the inflation rate, but it still isn't too bad yet.
So was it to gouge profits, or was it to put paper profits into the people's hands? Would you prefer to buy a HDB for $100k and see it devalue to $50k after 20 to 30 years?
And while people are complaining 110sqm HDBs going at $325k, there are others snatching mickey mouse units at between $600k to $900k!
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Pple buy for location and willing to pay high price for it.
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SLA, HDB, URA, whatever, left hand gives to right hand
you have to get out of your classical economics training of "growth"...
because it's flawed... there is only that much it can grow until everything collapses... we've seen it time again but no one wants to face up to that..
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HDB going to be built higher and higher...small piece of land can built more than 50 storey high with more than 500 units with each unit cost $250,000 ++...total up and is lots of money....
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You are comparing HDB with Private Condominium to substantiate your point??
Price you paid for private condo and only those who paid get to use within the compound. In HDB, area covered the development is now consider the cost of the HDB buyer yet u are not exclusive to it.
Even to take in land cost, take consideration of S$ 150 psf (already higher then private land sold by SLA), for a 112m² (1250ft²) divide by assuming 10 household per vertical plot = S$ 18,750.
Add whatever you want, the cost will always lower then the HDB selling price at a huge percentage.
If this is not true, HDB would have proven everyone's wrong long time ago instead of constantly blurring the meaning of " Subsidise".
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Originally posted by the Bear:
SLA, HDB, URA, whatever, left hand gives to right hand
you have to get out of your classical economics training of "growth"...
because it's flawed... there is only that much it can grow until everything collapses... we've seen it time again but no one wants to face up to that..
Everything in this world is flawed, and can only move until it collapses. It's the same.
The only thing is, which is the better way to collapse? Like you say, they can't get out of this. Perhaps you have a better idea?
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Originally posted by eagle:
But still, expecting the land to be given free? HDB needs to pay SLA leh, or so I think
Anyway, the economic implications of selling HDBs now at $90k is very big. It will result in a major property crash, and devalue the networth of all asset rich Singaporeans. Rentals drop, housing prices drop. This will in turn lead to property companies to experience drops in profits, and in turn lead to lesser borrowings and lesser constructions, etc. And when everyone's profits drop, it will lead to retrenchments, etc. It will be a destructive cycle.
but you see, HDB, SLA are all part of the government, and they are already "paid" in the form of taxes. the land belongs to the country, to the people anyway.
furthermore, its not like you get to keep the land or your HDB apartment freehold. you don't get a land deed, and you basically dun actually get to buy the HDB flat. you merely pay a lump sum rental for 99years.
when i buy something, e.g. a piece of gold, it means that i can do whatever i want with it, for 10 yrs, for a million years. but for HDB and other leased-properties, you can pay however much you want, but at the end of the 99yrs, or 999yrs, the government will still take it back.
and 99 yrs might not necessarily means 99 yrs also. if the government needs the land for developments such as roads, rails, you lan lan also must return your property to the government.
end of the day, your property is yours to enjoy, but not yours to keep.
and so what if you readjust the price of flats to 90k? under HDB law, only 1 person can own a flat at any one time. so those who already have a house would still have a house, while those who are just starting out can easily buy a house.
this ensures that those who needs a house will have a house.
also, hdb is suppose to be a public provider of housing, not merely a real estate developer like capitaland etc. it should not be profit-oriented.
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Originally posted by deathmaster:
but you see, HDB, SLA are all part of the government, and they are already "paid" in the form of taxes. the land belongs to the country, to the people anyway.
furthermore, its not like you get to keep the land or your HDB apartment freehold. you don't get a land deed, and you basically dun actually get to buy the HDB flat. you merely pay a lump sum rental for 99years.
when i buy something, e.g. a piece of gold, it means that i can do whatever i want with it, for 10 yrs, for a million years. but for HDB and other leased-properties, you can pay however much you want, but at the end of the 99yrs, or 999yrs, the government will still take it back.
and 99 yrs might not necessarily means 99 yrs also. if the government needs the land for developments such as roads, rails, you lan lan also must return your property to the government.
end of the day, your property is yours to enjoy, but not yours to keep.
and so what if you readjust the price of flats to 90k? under HDB law, only 1 person can own a flat at any one time. so those who already have a house would still have a house, while those who are just starting out can easily buy a house.
this ensures that those who needs a house will have a house.
also, hdb is suppose to be a public provider of housing, not merely a real estate developer like capitaland etc. it should not be profit-oriented.
You are right that they are all part of the government. And indeed, 99 yrs might not mean 99 yrs too. The same goes for condo as well. Remember the case where SLA paid only $1 for a huge slice of a condo's carpark space?
If the price is readjusted to 90k, I wouldn't be sure of the resultant effects, although it is true that 1 person or 1 couple can only own 1 flat at any one time. Perhaps people would want to change house every 5 years by buying from HDB given the current affluence?
HDB indeed should not be profit-oriented. Fact is, it's hard to even get a flat at recent BTOs, even at $300k and 90% being allocated to first timers. It has to boil down to the fact that there a crunch of new BTOs earlier. A poor planning by HDB planners at that time on hindsight.