Price Difference between HDB BTO Flats, HDB Resale Flats and Private Property

Mr Gan Thiam Poh asked the Minister for National Development (a) what is the average percentage difference in price between HDB BTO flats, HDB resale flats and private property in Singapore's (i) core central region; (ii) rest of central region; and (iii) outside central region, respectively; and (b) how do these prices compare to those of 10 years ago.

In the past 10 years, new HDB flats were mostly built in non-mature estates with some in the mature estates where land was available. The non-mature estates are all located in the outside central region (OCR). The few BTO projects in the mature estates straddle both the OCR and the rest of central region (RCR). OCR and RCR are terms used by the industry to group private properties in Singapore. They do not coincide with the HDB classification of mature and non-mature estates. Moreover, given the wide range of housing types in the private housing market, from shoe-box units to luxurious penthouses, price comparison between the public and the private housing markets should, therefore, be interpreted with care.

As most BTO flats were built in the OCR, I will provide the price comparison for this region. Generally, the average price difference between HDB resale flats and BTO flats is 31%. It was 18% in 2004. Between private residential properties and HDB resale flats, the difference is 158%. It was 118% in 2004.