PropertyGuru statement on HDB resale story

PropertyGuru published a story headlined "HDB flats are more unaffordable than private homes" online on March 22nd and in print the next day. Following publication, HDB issued a response in which it claimed our story was "misleading" and based on a "simplistic analysis".

Our story, which used data from the housing board alongside that from Singstats, focused solely on the affordability of HDB resale homes in Singapore; it did not factor Build-to-Order (BTO) flats which are priced significantly lower. PropertyGuru did not include the various housing grants available to Singaporeans looking to buy on the BTO and resale market as it was not the core focus of the article.

PropertyGuru contacted HDB for an official response on Tuesday 20th March but did not receive any official comment prior to publication. As a responsibility to our readers, we had to keep with the deadlines and went ahead with the publication.

HDB's response focused on the affordability of BTO units which PropertyGuru does not dispute. PropertyGuru recognises and understands the efforts of the HDB in making public housing affordable and available to all Singaporeans.

This year to date we have published more than 20 articles in print and online highlighting the work being done by the HDB, and we look forward to continue to work closely with the HDB and ensure its news is read by the widest possible readership.

Regards

PropertyGuru Media Contact:

Ms Winnie Khoo, Chief Operating Officer

Contact number: +65 6238 5971

Email: winnie@allproperty.com.sg

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