THIS WEEK’S TOPIC: How should higher-end HDB flats in prime locations be priced? What issues, if any, are there in creating a two-tier (or multi-tier) public housing market?
The Greater Southern Waterfront is a huge project that spans about 2,000ha of land, or six times the size of Marina Bay.
With the entire development taking full advantage of Singapore’s southern coastline including the plan for 9,000 home units, it is fair to ask how the HDB flats there would be priced. Herein lies the tension: on one hand, the mission of HDB is to provide affordable and quality housing. On the other hand, property prices in the southern region of Singapore have traditionally fetched relatively high prices. This includes homes in Districts 4 and 5, where the Greater Southern Waterfront project lies.
Hence, the sweet spot in pricing housing units here must take into account the possibility of lowering or removing the subsidies altogether, because of the affluent profile of the potential buyers.
Mario Singh
Chief Executive Officer
Fullerton Markets
