Parliament: Land prices for public housing lower than that for private

Minister for National Development Lawrence Wong said that land for public housing has a lower valuation compared with land zoned for private housing.
Minister for National Development Lawrence Wong said that land for public housing has a lower valuation compared with land zoned for private housing.ST PHOTO: KUA CHEE SIONG

The average price of land paid for private housing developments bought through the Government Land Sales Programme between 2015 and 2018 was about $7,000 per sq m, excluding the Core Central Region.

In the same period, the Housing Board paid an average of about $2,000 per sq m for land for public housing in mature estates.

These figures were disclosed in Parliament yesterday by Minister for National Development Lawrence Wong, in his reply to Mr Faisal Manap (Aljunied GRC).

Mr Wong also said that state land is sold to the HDB at the market value assessed by the Chief Valuer. "The valuation is done in accordance with market conditions and established valuation principles."

He added that land for public housing has a lower valuation compared with land zoned for private housing.

Sue-Ann Tan

A version of this article appeared in the print edition of The Straits Times on February 14, 2019, with the headline 'Land prices for public housing lower than that for private'. Print Edition | Subscribe