<![CDATA[HDB CONSTRUCTION COSTS REVEALED]]>IMHO, land cost should not be charged because it belongs to the government. HDB lessees are only paying for the space above ground.


If you read the lease agreement in details, you would realise that even the beams and columns of the HDB flats are belonging to the state.

Current building cost for a landed house with luxury fittings cost about S$180 psf of built up area :

luxury finishes :- slab cut marble from Italy for ground floor of 1000 sq ft, Burmese teak strips (not parquet) for 2nd, 3rd, and 4th floor of 1200 sq ft each, imported home elevator (glass lift), Daikin central aircon system for whole house, all toilets are in marble, slab cut vanity top, swimming pool of 500 sq ft, Grohe systems throughout …all of the above at $180 psf…excluding land cost

And the builders still have to turn in good profit

Do the comparison and see the difference

]]>https://forum.kiasuparents.com/topic/60917/hdb-construction-costs-revealedRSS for NodeSat, 09 May 2026 20:11:43 GMTMon, 26 Aug 2013 13:56:03 GMT60<![CDATA[Reply to HDB CONSTRUCTION COSTS REVEALED on Mon, 26 Aug 2013 13:20:40 GMT]]>honestly i have my doubts about the calculations. singapore has so many educated people, professionals and academics who are slurping up all these \"open\" sources of information. All these people combined are unable to come up with an accurate estimate and here therealsingapore.com is able to?


IMHO highly doubt so... so... I'll take this with a pinch of salt. :razz:

]]>https://forum.kiasuparents.com/post/1082506https://forum.kiasuparents.com/post/1082506Mon, 26 Aug 2013 13:20:40 GMT<![CDATA[Reply to HDB CONSTRUCTION COSTS REVEALED on Mon, 26 Aug 2013 05:26:46 GMT]]>

floppy:

While The Real Singapore is as bad as our MSM (occupying the different ends of the spectrum), it is pretty close in its estimation if gebiz tender results from construction companies are being used.

That being said, construction costs did not take into account the land cost (\"the price the market is willing to pay\") HDB has to pay to SLA - resulting in the \"market subsidy\" HDB has to offer when selling to the general public. Hardly surprising to see HDB is in the deficit because it has to \"subsidise\" the land cost.
The data is correct. However, the interpretation of the data by Real Singapore (eg. cost of 3-room HDB flat is 90 x $1500)is wrong because the data was dealing with construction costs in the context of how much it costs to get a main contractor to build something (gebiz construction tenders). In addition to land costs, it did not factor in:

(1) Building efficiency. $1500 psm construction cost is for gross building area. 90 sqm for 3-room flat is net area. Assuming building efficiency of 80%-85% for thickness of walls, common corridors, staircase, lifts, risers, void decks, pump rooms and other common areas, have to divide $1500 by 0.8 - 0.85.

(2) Professional costs such as architects, civil engineers, quantity surveyors, project management; and also sales and admin costs. Add another 5-8%.

(3) Infrastructure development costs. Power and fibre cables, water, gas and sewage pipes, drains and roads etc all cost money to build. HDB development is like township development, which is different from building a block of flats on land in an area where all the infrastructure are already in place.

(4) Financing costs - buyers don't pay for the flats before construction. Even if HDB borrow from CPF, must still pay at 2.5% pa for ordinary account funds.

Factor all these in and building costs will easily come up to $2,200 - $2,400 per sqm or even more.

If home builders calculate like the Real Singapore, sure go bankrupt.

]]>https://forum.kiasuparents.com/post/1082053https://forum.kiasuparents.com/post/1082053Mon, 26 Aug 2013 05:26:46 GMT<![CDATA[Reply to HDB CONSTRUCTION COSTS REVEALED on Mon, 26 Aug 2013 03:51:41 GMT]]>

Nebbermind:

Is the HDB construction tender results release in gebiz?
If the figures are there, then can easily estimate the cost of one unit of HDB apt, ya?
HVR:

Don't underestimate the power of Internet propaganda. You are right about people are educated and can think and analyse. The truth is, people are lazy to think much less seeking relevant information to analyse issues. They just swallow what's on the Internet and people have inclination for sensational topic and they tend to spread it too as it can be done easily just by a few clicks.

While The Real Singapore is as bad as our MSM (occupying the different ends of the spectrum), it is pretty close in its estimation if gebiz tender results from construction companies are being used.

That being said, construction costs did not take into account the land cost (\"the price the market is willing to pay\") HDB has to pay to SLA - resulting in the \"market subsidy\" HDB has to offer when selling to the general public. Hardly surprising to see HDB is in the deficit because it has to \"subsidise\" the land cost.

]]>https://forum.kiasuparents.com/post/1081945https://forum.kiasuparents.com/post/1081945Mon, 26 Aug 2013 03:51:41 GMT<![CDATA[Reply to HDB CONSTRUCTION COSTS REVEALED on Mon, 26 Aug 2013 00:32:05 GMT]]>

matrix0405:
mummy OnABudget:

[quote=\"matrix0405\"]T

4RM (90 sqm or 1000sqf) = $200K - $250K. Still haven add in land cost yet.

so lets just say therealsingapore is spreading false rumours again haiz later their butt get sue again then they know

No need to say who is false. 154th or therealsinkapore, doesn't matter. Reader have a cautious mind. This is what education is about.
And $200K seems right because those kee lat reno can already set u back $100K.[/quote]Don't underestimate the power of Internet propaganda. You are right about people are educated and can think and analyse. The truth is, people are lazy to think much less seeking relevant information to analyse issues. They just swallow what's on the Internet and people have inclination for sensational topic and they tend to spread it too as it can be done easily just by a few clicks.

]]>https://forum.kiasuparents.com/post/1081745https://forum.kiasuparents.com/post/1081745Mon, 26 Aug 2013 00:32:05 GMT<![CDATA[Reply to HDB CONSTRUCTION COSTS REVEALED on Mon, 26 Aug 2013 00:15:45 GMT]]>

mummy OnABudget:
matrix0405:

T

4RM (90 sqm or 1000sqf) = $200K - $250K. Still haven add in land cost yet.

so lets just say therealsingapore is spreading false rumours again haiz later their butt get sue again then they know

No need to say who is false. 154th or therealsinkapore, doesn't matter. Reader have a cautious mind. This is what education is about.
And $200K seems right because those kee lat reno can already set u back $100K.

]]>https://forum.kiasuparents.com/post/1081729https://forum.kiasuparents.com/post/1081729Mon, 26 Aug 2013 00:15:45 GMT<![CDATA[Reply to HDB CONSTRUCTION COSTS REVEALED on Sun, 25 Aug 2013 15:51:02 GMT]]>Is the HDB construction tender results release in gebiz?

If the figures are there, then can easily estimate the cost of one unit of HDB apt, ya?

]]>https://forum.kiasuparents.com/post/1081628https://forum.kiasuparents.com/post/1081628Sun, 25 Aug 2013 15:51:02 GMT<![CDATA[Reply to HDB CONSTRUCTION COSTS REVEALED on Sun, 25 Aug 2013 01:19:42 GMT]]>

matrix0405:
The figures given shd be wrong. Condo is $350 psf to consturct. HDB is less, so maybe $250. 4RM (90 sqm or 1000sqf) = $200K - $250K. Still haven add in land cost yet.

so lets just say therealsingapore is spreading false rumours again haiz later their butt get sue again then they know

]]>https://forum.kiasuparents.com/post/1081167https://forum.kiasuparents.com/post/1081167Sun, 25 Aug 2013 01:19:42 GMT<![CDATA[Reply to HDB CONSTRUCTION COSTS REVEALED on Sun, 25 Aug 2013 01:10:44 GMT]]>The figures given shd be wrong. Condo is $350 psf to consturct. HDB is less, so maybe $250. 4RM (90 sqm or 1000sqf) = $200K - $250K. Still haven add in land cost yet.

]]>https://forum.kiasuparents.com/post/1081165https://forum.kiasuparents.com/post/1081165Sun, 25 Aug 2013 01:10:44 GMT<![CDATA[Reply to HDB CONSTRUCTION COSTS REVEALED on Sat, 24 Aug 2013 16:27:31 GMT]]>Singapore should allow and encourage PR and foreigners to own HDB flats since HDB makes so much money from the sale of HDB flats and thus the profit made should go to subsidize the citizens…based on the quoted article above

]]>https://forum.kiasuparents.com/post/1081074https://forum.kiasuparents.com/post/1081074Sat, 24 Aug 2013 16:27:31 GMT