Hardest truth: Public housing is subsidised by …. flat buyers, not government

Subsidised public housing in Singapore is …. BS.
 
The cost of subsidy would have to be borne by thePAP government for selling HDB flats at a ‘loss’. There isn’t any.
 
The ‘loss’ incurred comes from the inclusion of PAP-inflated land cost.
 
But state land belongs to citizens and most of it was acquired by PAP decades ago at lelong prices.

(“Between 1959 and 1984, the government acquired a total of 43,713 acres (17,690 ha or 177 sq km) of land, which constituted about one-third of the total land area of Singapore then.” NLB)

Even though the actual land cost – 4 decades ago prices – must be peanuts, it has been inflated thousands of times by PAP to current prices.
 
If land cost wasn’t included, there would be no need for any housing grant as HDB flats would be affordable.
 
In reality, flat buyers are subsidising HDB by being forced to pay for land cost.

hdb fake subsidies

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