The Housing & Development Board reported a net deficit of S$6.775 billion before government grants for the financial year 2023 , up from S$5.38 billion in the previous financial year.
The Housing & Development Board reported a net deficit of S$6.775 billion before government grants for the financial year 2023 , up from S$5.38 billion in the previous financial year.
This was largely due to the expected shortfall from flats still under construction, the overall deficit from the sale of flats, and the disbursement of Central Provident Fund housing grants. Each year, HDB runs a deficit as the money collected from flat sales is less than the total cost of developing BTO flats and the housing grants provided.
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