$880K Flats– Smart Move Or Dumb Move?

Sim Lian priced its latest DBSS flats in Tampines at up to $880K for a 5-room designer flat of 108 sqm. Of course the company had to add salt to the wound by claiming its prices were “reasonable”. At least he didn’t use the “aff” word…

The news immediately brought howls of protests from Netizens who slammed Khaw for sleeping on the job and lamenting the possibility of $1M HDB flats in the near future.

The sad thing is that people don’t see these for what they are: HDB’s answer to middle-class Singaporeans and PR’s who want to own condos but can’t afford the real thing.

DBSS is very different beast from the basic HDB flats or even BTO flats which sell at half the price. After all, with condos easily over $1M these days, this is the only way some yuppies will ever get to live in condo-like apartments. Yet HDB gets derided for a scheme to help fulfil middle-class aspirations.

Smart move or dumb move by Khaw? You decide.


About politicalwritings

Someone who sees beyond PAP and "opposition" in Singapore politics. To understand more please see the Top 10 link below.
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4 Responses to $880K Flats– Smart Move Or Dumb Move?

  1. Pingback: Daily SG: 20 Jun 2011 « The Singapore Daily

  2. abc says:

    Smart — Sim Lain for bidding the project at $261 psf and selling it at $750 psf.

    Stupid — HDB for not being able to figure out that private developer can mark up almost 3X cost price. And losing out hundreds of millions in potential revenue for the reserves.

    Stupid — those who actually buy this DBSS instead of EC. Even old resale condo has much better value. Hello, DBSS is still public flat; you don’t get a title deed and you’re just leasing the pigeon-hole in the sky for 99 years. You have no shared ownership of the land; the land is public property just like any other HDB estate.

    Unintended beneficiaries — Drivers who like to go to Tampines Central. Can park their cars in this DBSS carpark, coz it’s the same as any other HDB carpark. Somemore free parking on Sunday. Cool.

  3. Quincy says:

    Wow… Is everything really that expensive? Buy or build low and sell high I guess

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