FEASIBILITY STUDY OF A CONDOMINIUM DEVELOPMENT ON A HDB SITE

Abstract

The Housing and Development Board has been in existence for thirty years. During this time, it has made home-ownership a reality for most Singaporeans. However, the urgency to house the population is no longer predominant today. Now, the emphasis is on quality, not quantity of housing. In a major change of policy, the Housing and Development Board has decided to sell land within the housing estates to private developers. This is to enable private residential housing to be more accessible to a fast-growing, young and affluent society. The HDB also aims to improve the integration between public and private estates. Property development analysis today is also different from what it used to be thirty years ago. The real estate market is more competitive today. Information and technology are readily available. Hence, there is a need for rational analysis to back corporate decisions. Using quantitive tools of investment appraisals, this study aims to examine the feasibility of the untested Housing and Development Board land market. The study concludes that the subject HDB land in the case study is feasible for the development of condominium housing under current market conditions.