The word subsidy in the context of HDB flats were hammered for many years until it takes the form of market subsidy today. It was called subsidy at the very beginning until a lot of digging revealed that it was not subsidy as people knew or expected but a kind of subsidy off the market price.
When I looked into HDB website, I found that the prices of Pinnacle flats were priced at resale market
Home »
» From subsidy to market subsidy to market price