Returns on HDBs, especially with “cash over valuation” offer bigger returns than private properties. Rent it out and the ROI is better than private as well.

HDBs are similar to property in most countries. It’s bought primary as a place to live but also as a store of value. The govt will buy out your HDB for cash in order to fund your CPF. The govt also constrains the supply of HDBs which pushes up values.

But you are right about the lucky draw. Someone people win BTO lottery and make out like bandits with new developments in mature estates.