NDR 2015: HAS HDB PRICES STABILISED & IS HEALTHCARE AFFORDABLE?

According to the Straits Times news report “National Day Rally 2015: Income ceiling for buyers of new HDB flats raised from $10,000 to $12,000” (Aug 23) – “The prices of new Build To Order (BTO) flats have stabilised”.

BTO price increased by 11.2%?

The BTO launch in May 2015 was selling Clementi Crest 4-room flats from a whopping $478,000.

In the July 2012 BTO launch – Clementi Gateway was selling 4-room flats from $430,000.

This is an increase in the lowest priced 4-room flats by 11.2 per cent.

URA index fell 3.4%?

But, the URA resale price index fell by about 3.4 per cent during the similar period.

Are BTO prices really delinked from resale prices?

So, have BTO prices really “stabilised”?

Please explain 14.6 % price differential?

If so, shouldn’t prices have fallen by about 3.4 per cent, instead of having increased by 11.2 per cent?

How do we explain the 14.6 per cent price differential?

BTO price increased by 5.8%?

The lBTO launch in May 2015 was also selling Sembawang  EastLink I & II @ Canberra 4-room flats from $238,000.

In the May 2013 BTO launch – Sembawang Eastbank, Eastbrook and [email protected] were selling 4-room flats from $225,000.

This is an increase in the lowest priced 4-room flats by 5.8 per cent.

URA index fell 5.5%?

But, the URA resale price index fell by about 5.5 per cent during the similar period.

Have BTO prices really “stabilised”?

So, have BTO prices really “stabilised”?

Please explain 11.3 % price differential?

If so, shouldn’t prices have fallen by about 5.5 per cent, instead of having increased by 5.8 per cent?

How do we explain the 11.3 per cent price differential?

As to “It has also delivered results such as more affordable housing and healthcare” –

SGH Class C average bill increased 105%

For a major procedure such as a heart bypass, the median bill for an A-class patient at the National Heart Centre (NHC) is $32,037, compared with just $4,277 in C class” – according to the Ministry of Health’s (MOH) web site – the SGH Class C Average Total Bill in 2013 was $2,820, compared to $1,377 in 2006.

This is an increase of about 105 per cent in the 7 years, or about 11 per cent per annum.

SGH Class C 95th percentile bill increased 146%

At the 95th percentile – the increase was from $3,622 to $8,944 – an increase of a whopping 146 per cent or 14 per cent per annum.

NHC Class C average bill increased 111%

For the NHC – the average bill increased from $3,466 to $7,322 – an increase of 111 per cent or 11 per cent per annum.

NHC Class C 95th percentile bill increased 146% to $23,485

At the 95th percentile – the increase was from $12,070 to a whopping $23,485 – an increase of 95 per cent or 10 per cent per annum.

So, do you think we have delivered more affordable housing and healthcare?

Leong Sze Hian

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