Quote from HDB

'A new four room flat can cost close to $300,000 to develop, but is priced at about $200,000 to $260,000 in locations such as Punggol and Sengkang, said the board(HDB).'

This is quoted from an article by Jessica Cheam in the ST today.

Wow, selling at a loss. Real subsidy. And when the Pinnacles were being built at Duxton, they could priced them below $300,000 at the first launched. That price