"This was presented at the Nov 2012 launch of the SDP policy paper Housing a Nation (yoursdp.org/_ld/0/7_Housing_a_Natio.pdf ). It was in the presentation slides but did not make it into the paper because 20 tenders is hardly definitive, although it definitely is indicative. Furthermore, the "average cost per dwelling unit" metric might be attacked as "misleading". This is how much HDB pays, on average, per dwelling unit (for "building works" and "contingency works"). Differences are probably based on soil condition. (Bukit Panjang is apparently more expensive to build in.) This simply shows that "land costs" range from 50% to over 75% of the price of flats. This fraction is huge. Especially since the actual land use should be termed "Residential (Public Housing)", made distinct from private residential land use, and hence priced differently. (This is what the SDP advocates.) To determine the average price per dwelling unit, we took the minimum bid or the awarded bid (if available; 12/20 were) and divided it by the number of dwelling units. The operating assumption is that it does not cost very much more to build a 4 room flat than a 3 room flat. We think this is a decent approximation."
Posted on: Sat, 24 Aug 2013 07:28:50 +0000
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