HDB CONSTRUCTION COSTS REVEALED

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HDB CONSTRUCTION COSTS REVEALED

Postby raysusan » Sat Aug 24, 2013 9:40 pm


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Re: HDB CONSTRUCTION COSTS REVEALED

Postby pirated » Sun Aug 25, 2013 12:27 am

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

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Re: HDB CONSTRUCTION COSTS REVEALED

Postby matrix0405 » Sun Aug 25, 2013 9:10 am

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.

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Re: HDB CONSTRUCTION COSTS REVEALED

Postby mummy OnABudget » Sun Aug 25, 2013 9:19 am

matrix0405 wrote: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

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Re: HDB CONSTRUCTION COSTS REVEALED

Postby Nebbermind » Sun Aug 25, 2013 11:51 pm

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?

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Re: HDB CONSTRUCTION COSTS REVEALED

Postby matrix0405 » Mon Aug 26, 2013 8:15 am

mummy OnABudget wrote:
matrix0405 wrote: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.

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Re: HDB CONSTRUCTION COSTS REVEALED

Postby HVR » Mon Aug 26, 2013 8:32 am

matrix0405 wrote:
mummy OnABudget wrote:
matrix0405 wrote: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.


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.

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Re: HDB CONSTRUCTION COSTS REVEALED

Postby floppy » Mon Aug 26, 2013 11:51 am

Nebbermind wrote: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 wrote: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.

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Re: HDB CONSTRUCTION COSTS REVEALED

Postby pirate » Mon Aug 26, 2013 1:26 pm

floppy wrote: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.

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Re: HDB CONSTRUCTION COSTS REVEALED

Postby kevkevkaf » Mon Aug 26, 2013 9:20 pm

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:

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