Sunday 18 November 2018
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- 5 month ago

How many billions has HDB made from housing sales?

I refer to Liu Siok Ming’s letter “Review HDB resale levy policy” (Straits Times, Oct 1, 2015). It states that “I was shocked to learn that the resale levy payable would amount to about $193,000, comprising $91,350 (22.5 per cent of the resale price of my first flat sale in December 1997) and accrued interest (5 per cent a year from December 1977 to March 2013).” It is bad enough that our public housing is one of the most expensive in the world (ratio of price to income), due to policies like charging land

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