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HDB reports record $5 38b deficit as more flats completed, ageing homes upgraded

It completed 23,782 new flats from April 2022 to March 2023, the highest in five years. Read more at straitstimes.com.

Singapore s HDB reports record S$5 38 billion deficit attributing to expenditure on housing upgrades

Singapore's Housing Development Board reports a record S$5.38 billion deficit in FY2022, said to be driven by new flat development costs and enhanced housing grants.

Upgrading of ageing homes, more flats completed among factors leading to HDB s record $5 38b deficit

SINGAPORE Upgrading work on ageing homes, the development of new flats and more keys being issued to buyers were among the factors that drove the Housing Development Board (HDB)'s deficit to a record $5.38 billion for the 2022 financial year (FY) from April 2022 to March 2023. This was about 23 per cent higher than the $4.367 billion deficit.

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