in other news     HDB resale prices rise for 18th consecutive quarter, up 2.7% q-o-q in 3Q2024 https://www.edgeprop.sg/property-news/hdb-resale-prices-rise-18th-consecutive-quarter-27-q-o-q-3q2024       HDB resale prices rose 9.6% in 2024, with price growth slowing in Q4 https://www.straitstimes.com/singapore/housing/hdb-resale-prices-rose-9-6-in-2024-with-price-growth-slowing-in-q4       AI: How much HDB price have increase for the last 10yr Over the past 10 years, the price of Build-to-Order (BTO) flats in Singapore has also seen an increase, though the percentage increase varies by flat type and location. Breakdown of BTO Prices (2013 to 2023): 2013 Prices: 3-room BTO: Around S$150,000 to S$200,000. 4-room BTO: Around S$250,000 to S$300,000. 5-room BTO: Around S$300,000 to S$350,000. 2023 Prices: 3-room BTO: Around S$250,000 to S$300,000 (depending on location). 4-room BTO: Around S$400,000 to S$450,000. 5-room BTO: Around S$500,000 to S$550,000. Summary of Percentage Increases: 3-room BTO: Around 57.14% increase. 4-room BTO: Around 54.55% increase. 5-room BTO: Around 61.54% increase. Key Factors for the Increase: Location: Flats in mature estates tend to have higher price increases compared to those in non-mature estates. Construction Costs: Rising costs of land, labor, and materials have contributed to the increase in prices. Government Policies: The introduction of various subsidies and grants has helped moderate the cost for eligible buyers, but base prices have still risen. Thus, BTO prices have generally increased by about 54% to 61% over the past decade, depending on flat type and location.  

Public housing will always be kept affordable for Singaporeans, both now and in the future, said Prime Minister Lawrence Wong. He gave this assurance during a dialogue on Jan 21 with close to 900 student participants across various education institutions at the University Cultural Centre in NUS. The Housing Board will continue to price new flats in relation to income and not the resale market, to make sure public housing remains affordable, PM Wong said. “We are able, through heavy government subsidies, through what we do on the HDB side, to provide assurance to all of you, both now and in the future, that we will always keep public housing affordable for Singaporeans,” he said. The Urban Land Institute (ULI), a global research organisation, considers home ownership affordable when the ratio of the median home price to median annual household income is below 5. This means that the flat’s price is within five times of the buyer’s annual household income. According to a ULI report released in May, the ratio in Singapore for HDB flats is 4.7. https://www.straitstimes.com/singap...c-housing-affordable-for-singaporeans-pm-wong