Keppel Site to have 6,000 HDB flats

[abbby]

Former keppel site will house 6,000 HDB flats...I am sure the prices will be very high and MOP is likely to be min 10 years...Looks like home prices in the South is heading upwards.

https://www.straitstimes.com/singapore/ ... hree-years

[sundaymorningstaple]

Former keppel site will house 6,000 HDB flats...I am sure the prices will be very high and MOP is likely to be min 10 years...Looks like home prices in the South is heading upwards.

https://www.straitstimes.com/singapore/ ... hree-years

I understand from another source that 4 room flats will likely be priced between $500K~$700K (from the HDB!!!!)

[Addadude]

Literally just down the road from me... hmm, I wonder if it will boost my flat's value or lead to a SERS?

[PNGMK]

It's horseshit how HDB is getting these great locations and turning them into HDB ghettos.

[BBCDoc]

Probably the only way to stop hot overseas money snapping up the property?

I presume any private condos there will attract some serious wealth…Govt could whack on 500% stamp duty and they will still sell…


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[PNGMK]

Probably the only way to stop hot overseas money snapping up the property?

I presume any private condos there will attract some serious wealth…Govt could whack on 500% stamp duty and they will still sell…


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Putting HDBs next to condos seriously pulls down the value of condos. It's a well known problem in the property market here.

[abbby]

Just wondering why HDBs built around such prime area and surrounded by mostly condos..
And costing so much..
And one such condo will look so strange there being surrounded by all the HDB.
I can imagine the noise and dust for the next few years.

[Addadude]

I'm sure the owners of Reflections, Caribbean and Corals must be thrilled... And Keppel Land won't exactly be ecstatic either as they have launched a new condo right next to Harbourfront.

[Addadude]

It's horseshit how HDB is getting these great locations and turning them into HDB ghettos.

Since most of the voting population live in these 'ghettos', you can bet the last thing the gahmen wants to do is reserve really prime areas for a relatively tiny 'elite'. Also, if you see the designs of the newer HDBs and BTOs, it's really hard to tell the difference design-wise from the average new condo.

[PNGMK]

...and we say Singapore is not socialist.

[malcontent]

...and we say Singapore is not socialist.

This seems like the standard playbook to me. Billions of dollars in opportunity for property development by HDB… why pass that opportunity to developers and make them rich when the government can do it? Best of all, it can be framed as an altruistic overture to the masses, check and check!

[NYY1]

Let’s see… $500-700k for let’s say a 25 story block with 4 units per floor, that means $50-70m per block x 6,000 blocks for $300-420b in total. Now that is a nice chunk of change.

This seems like the standard playbook to me. It is close to a half trillion dollar opportunity for property development by HDB… why pass that opportunity to developers and make them rich when the government can do it? Best of all, it can be framed as an altruistic overture to the masses, check and check!

Think about the order of magnitude you are listing and whether that makes any sense. Pretty sure it's 6,000 flats, not 6,000 blocks (of 100 flats each).

[bro75]

6000 HDB and 3000 private flats is what is allocated for that area based on what I read.

[malcontent]

Think about the order of magnitude you are listing and whether that makes any sense. Pretty sure it's 6,000 flats, not 6,000 blocks (of 100 flats each).

Thank you for pointing that out… I should’ve caught that. I was overcome with euphoria thinking about all of those zeros!

But still, $3-4.2b is nothing to sneeze at.

[NYY1]

Think about the order of magnitude you are listing and whether that makes any sense. Pretty sure it's 6,000 flats, not 6,000 blocks (of 100 flats each).

Thank you for pointing that out… I should’ve caught that. I was overcome with euphoria thinking about all of those zeros!

But still, $3-4.2b is nothing to sneeze at.

No problem . At first, I was like that's a nice pile of money but then started thinking relative to size of economy and resident population!