Price of new HDB flat

I wanted to carry out some research into the cost of a new HDB flat, to see if it is still affordable. I had a difficult time to get the relevant information.

I visited the HDB website to find out what is the price of a new flat. I found this page but could not get the information that is needed. I was only able to find the prices of resale flats here. I don't know why HDB don't want to publish the price for new flats in a similar table, as this is helpful to home seekers.

After some effort, I was able to find some information about new flat prices from the HDB annual report but I was quite surprised at the wide range of prices (difference of up to 50%) for the same type of flat in the same estate within a period of one year.

Maybe, HDB wants to peg its place for new flats based on the market price for resale flat and for new home owners to be given a housing grant. I did some search for this grant and came to this page. It seems to be quite complicated to find out about the amount of housing grant that the buyer can get.

I do not know why buying a new HDB flat should be made some complicated, with no published price list for new flats and a complicated structure for the housing grant. I am afraid that, with this type of complexity, many people will not be able to make a sensible decision about getting the flat that they can afford, which is convenient for them to live in.  It would be better if things are made simpler, so that the ordinary people can make the right decisions.

Tan Kin Lian

Investing savings of $10,000

Someone wrote to ask for my advice. He has savings of $10,000 and wish to have a better return compared to bank interest. He wanted to pick some stocks to buy and sell when there is a profit. I advised him that it is not suitable to trade in stocks, as the transaction cost and spread will eat away the gain from the stock. There is the risk of capital loss that he must also consider.

I hesitate to suggest that he invest in ETF, as the stock market is rather high and the economy is has not recovered. Do you have any suggestions?

Financial Planning for Ladies

I am asked to write an article on financial planning for ladies. How are the needs for young ladies different from young men?

Most of the needs are similar, i.e. to save for the future, to have liquidity, to have a good yield and to protect against risk of premature death or illness.

There are some risks of female illnesses and events connected with childbirth. And females live longer than males, so there is a need for more savings to take care of a longer life expectancy and long term care.

There is also the special needs for unmarried females. However, this situation should also apply to unmarried males.

I like to invite comments on this matter, especially from ladies.