I don’t think HDB lost 2 billion. “Samurai” Khaw Boon Wan is trying to smoke us.The 2 billion he is referring to is the potential extra profits if HDB is sold at the true prices driven by market dynamics
For example : U go to telco and get iPhone by subscribing to their plans , u get the I phone at a cheaper rate like below $300. On the surface it looks like its cheap, but not exactly . it is still sold at a profit. But when u look at the real iPhone price at retail without sim contract, its over $1000 + so the real value of the iPhone is $1000 + driven by market value dynamics eg. Hype, advertising , features and hardware comparative to other competitors products ect . SO anyone like samurai can say he lost $800 by giving subsidy .
All this is not taking into account the cost of building or making the product which may be as low as $200 only.
In other words Samurai is smoking us . HDB prices are actually in line with international property prices in the 1st world . But HDB knows u cant afford international property prices in other first world countries for the same ices u receive a bungalow instead of a flat. So Samurai says he gives $2 billion discount because its not bungalow.