Profit margins for DBSS developers 'look high'

[Regulators]

What so good? already making a boo boo by not checking the prices before allowing the dbss units to be launched for sale

KBW is reading our complaints and taking proactive actions... good good... unlike his predecessor who just say I've heard your complaints BUT...

[linchong84]

What so good? already making a boo boo by not checking the prices before allowing the dbss units to be launched for sale

He has no power to stop. If SL launched 5 room DBSS at 1mil, KBW also cant do anything. This is free market once the land is tendered out. If govt tried to control price, it will send a very negative signal to investors and companies that our govt likes to intervene. KBW can't do much, but hecan blog abt it.

[Regulators]

Then hdb under him or the previous mbt made a boo boo in their contract with the developer allowing them to profit obscenely from hdb flats. Either way you look at it, those helming hdb made a boo boo. The free market reasoning is just an excuse

He has no power to stop. If SL launched 5 room DBSS at 1mil, KBW also cant do anything. This is free market once the land is tendered out. If govt tried to control price, it will send a very negative signal to investors and companies that our govt likes to intervene. KBW can't do much, but hecan blog abt it.

[ysyap]

Then hdb under him or the previous mbt made a boo boo in their contract with the developer allowing them to profit obscenely from hdb flats. Either way you look at it, those helming hdb made a boo boo. The free market reasoning is just an excuse

So now no choice he has to review the DBS scheme in order to assure people he's listening to them...

[fclim]

Ah Lian basically screwed all the other developers and forcing the gahmen to review DBSS.

[Regulators]

That is the problem with our leadership, all our ministers never take personal accountability, always rectifying when mistakes are made, just like the numerous floods in orchard then the minister starts to wake up. They liken their roles to top CEOs, but their standard have fallen short of that by a far margin. If like that, anyone can also be a minister coz our leaders are after all so prone to mistakes despite being the highest paid in the world

So now no choice he has to review the DBS scheme in order to assure people he's listening to them...

[linchong84]

Ah Lian basically screwed all the other developers and forcing the gahmen to review DBSS.

SL won't be the last one. Clementi, bedok and pasir ris dbss all yet to be launched yet but their land bids are higher if I'm not wrong. Esp the pasir ris one, it recently broke record for dbss land bid at around 300psf.. So that one confirm will see 880k 5 room flat liao.. Right at the outskirts of OCR haha.. Now u all know why ocr pte huat so much.. Maybe it's becos of these dbss providing strong support haha..

[ysyap]

SL won't be the last one. Clementi, bedok and pasir ris dbss all yet to be launched yet but their land bids are higher if I'm not wrong. Esp the pasir ris one, it recently broke record for dbss land bid at around 300psf.. So that one confirm will see 880k 5 room flat liao.. Right at the outskirts of OCR haha.. Now u all know why ocr pte huat so much.. Maybe it's becos of these dbss providing strong support haha..

The developers of these remaining dbss sites must be cursing and swearing.... if they launch high, they'll sure kana slammed like crazy but if they launch low, they'll make huge losses... best solution is to hold those launches and see what KBW has to say after his review!

[Regulators]

it should be included in the contracts between hdb and these developers a price guideline for the flats and developers should not exceed that. Mbt made a boo boo of that and now that the contracts have been signed, the people have to pay the price. For kbw to later say that dbss is not hdb is just his desperate attempt to salvage the situation that cannot be salvaged since developers and hdb have already inked the contracts months and months ago. A boo boo is a boo boo and this will certainly jack up prices of private property further, not cool the market down. many who ajay own multiple properties have nothing to lose, just that kbw will probably pay the price in the next election if he doesn't play it right

[linchong84]

The developers of these remaining dbss sites must be cursing and swearing.... if they launch high, they'll sure kana slammed like crazy but if they launch low, they'll make huge losses... best solution is to hold those launches and see what KBW has to say after his review!

Nope. If they hold the launches they are dead. KBW might make decision to launch those identified DBSS sites as BTOs at a cheaper rate.. So who will still want to buy dbss.. So, before the review is done, the developers should quickly launch while they still can sell.. They can market this way "dbss is going extinct soon! Grab it while it's still available! Otherwise no more new public housing in mature estates!!"

[fclim]

Ah Lian foolishly priced ahead of the market, anticipating the income ceiling to be raised to $10K soon. Now, when EC income ceiling is raised to $12K, how do you think the developers will price? If EC is priced higher due to higher income ceiling, how do you think OCR prices will react?

EC is not HDB, hahaha.

[fclim]

Mistake. DBSS income ceiling oredi $10K.

[maisonjai]

Which one do you think is more worth it?

only he knows & he can even evaluate if his pay is worth such a hot seat. Now i am also having sleepless night waiting for his next move.

agree with fclim, just to please a few & hdb raised the income ceiling, now see what happened.

[Regulators]

Didn't I say that HDB did not draft their contracts with developers to protect buyer's interests sufficiently? Look at the boo boo on page A20 of today's Sraits Times. HDB should have ensured that a clause is included stating that a contract would be null and void and buyers do not meet the eligibility criteria and not allow developers to charge a 20% penalty when buyers are forced by marriage circumstances and unable to buy.

[linchong84]

Didn't I say that HDB did not draft their contracts with developers to protect buyer's interests sufficiently? Look at the boo boo on page A20 of today's Sraits Times. HDB should have ensured that a clause is included stating that a contract would be null and void and buyers do not meet the eligibility criteria and not allow developers to charge a 20% penalty when buyers are forced by marriage circumstances and unable to buy.

Cannot null and void.. Otherwise will have loophole for buyers to exploit.. Must still have some penalties, otherwise buyers can just play punk delay marriage one year to withdraw from the purchase..

[devilplate]

Cannot null and void.. Otherwise will have loophole for buyers to exploit.. Must still have some penalties, otherwise buyers can just play punk delay marriage one year to withdraw from the purchase..

I read tat they goto forfeit 5% if decide not to take up bto flat eventually....hmm...can amount to abt 15-20k....initially tot they only forfeit few ks....

[linchong84]

I read tat they goto forfeit 5% if decide not to take up bto flat eventually....hmm...can amount to abt 15-20k....initially tot they only forfeit few ks....

I've a friend who forfeit 2k only.. I don't know how HDB calculate one.. Maybe depends on the time of forfeiture.. If very near to TOP, then pay more..

[Regulators]

5% more than enough to compensate, but contract did not have this limitation, clear cut boo boo no matter how you look at it

Cannot null and void.. Otherwise will have loophole for buyers to exploit.. Must still have some penalties, otherwise buyers can just play punk delay marriage one year to withdraw from the purchase..