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I refer to the letter, " " (Oct 14). Applying market valuation principles provides greater transparency and accountability for the nation's resources. HDB flats are built from national resources, and their values have to be accounted for through market mechanisms to reflect their real worth to the nation. To make the eventual selling prices within the means of Singaporeans, the Government applies a significant subsidy to the assessed market values and provides specific groups with housing grants. In other words, new flats are being sold at below the market rate. Public housing is a benefit we are enjoying, and we should not take it as our right. HDB has managed the scheme responsibly and to the best interests of home buyers.