Last Friday news that second-time buyers of public housing units would be given more chances to purchase executive condominium (EC) units; the previous 5 per cent limit increased to 30 per cent of units in ECs will now be set aside for this class of house hunters. ECs are sold by private developers with condominium-like […]
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Help for HDB ‘second-timers’ to buy flats
AFTER easing the demand crunch among first-time Housing Board (HDB) flat applicants, the Government will now help ‘second-timers’ – a group that includes a large proportion of HDB upgraders. It will change the rules to significantly boost their chances of successfully balloting for a new Build-to-Order (BTO) flat or executive condominium (EC) unit. Announcing this […]
More incentives to live with or near parents
STRESSING the importance of family ties as the bedrock of a strong society, the Government yesterday rolled out two new initiatives to encourage married children to live with their parents or near them in housing estates. The first is to strengthen the Married Child Priority Scheme (MCPS) to give higher ballot chances to married children […]
Idea for Flats with Shorter Leases May Not Fly
(I think this is a bad idea. Read on…) Straits Times 02 Mar 12 Summary: A MP has proposed that the Government sell new flats with shorter leases, as that would mean cheaper flats which would be a boon for young couples. (Sometimes, I look at a young couple, and I wonder if their expectations are […]
Development charges dip for non-landed residential use
Straits Times – 01 Mar 12 Summary: Charges that developers pay to enhance the use of a plot of land have finally been reduced or left flat for some sectors, as the slowing property market takes its toll (I think it’s more for the luxury prime areas, rather than the rest of Singapore.) The new […]
HDB resale flat prices up 3.8% – Channel NewsAsia, 28 October 2011
Summary: HDB Resale Prices has increased by 3.8% as compared to the previous quarter Resale transactions fell by 10% from 6,581 cases in the second quarter to 5,903 cases in the third quarter. Overall increase from Q3 2011 is 11.6%, which is an all-time high, i.e. HDB resale prices has been increasing at an average […]
URA Released Real Estate Statistics for 3rd Quarter 2011
Check out my analysis of the data released! Please click on the picture below to enlarge the font size!
Have Property, May Not Profit – Sunday Times, 16 Oct 11, Invest Section, Page 37
Last Sunday, there was an interesting article about investing in property market in Singapore: Have property, may not profit – Sunday Times, 16 Oct 11, Invest Section, Page 37 In this article, the author, Mr Goh mentioned that he had met up with some old friends who are property investors, and they were musing about their […]
Summary of URA’s New Regulations on Singapore Property Market
The recent measures on 14 Jan 2011 imposed by the Singapore government had taken to ensure that the property market is sustainable has been pretty drastic. Check out the new regulations here. A Summary of URA’s regulations: 1. Holding Period for Seller’s Stamp Duties from 3 years to 4 years 2. Seller’s Stamp Duties imposed […]
Challenges for property sector
New engines drive Singapore’s property market but pitfalls remain THE Singapore property market has weathered the storm from the US sub-prime crisis, soaring oil prices and overall inflation, pretty well. Runaway increases in property values in the high-end residential and prime office sectors seen in the past couple of years, for instance, have started to […]
HDB imposes checklists on resale flats
Business Times – 25 Mar 2008 THE Housing and Development Board will introduce mandatory checklists for housing agents handling resale flat transactions from May 1 – a move welcomed by industry players. The checklists cover key policies and procedures that housing agents will need to advise resale flat buyers and sellers on before they commit […]
Home, retail, office rental growth to ease
Business Times – 25 Mar 2008 Housing rentals to rise 5-15% year-on-year in 2008: Knight Frank PRIVATE housing rents are expected to grow at a slower pace this year than last year, Knight Frank said in a report yesterday. The property consultancy firm expects a year-on-year rise of 5-15 per cent in 2008 – after […]
3,500 vied for 714 condo-like flats in Boon Keng, but only 460 sold
The Straits Times March 25, 2008 THOUSANDS of applications poured in for a condo-like Housing Board project in January – but as of last week, less than two-thirds of the flats had been taken up. About a third of the 714 units – or about 250 units – in City View @ Boon Keng remained […]
All eyes on govt land tenders this month
Business Times – 11 Mar 2008 $500m site above Serangoon MRT, 3 suburban housing plots on offer AMID the current quiet market, all eyes will be on four 99-year leasehold suburban Government Land Sale site tenders that close this month. They comprise three private residential sites including one for landed housing, and a ‘white’ site […]
Punggol River set for big change
Work starts on $7.13m project to create reservoir park with man-made island by 2010 WORK to transform the Punggol River into a scenic reservoir park, complete with a man-made island, got off the ground yesterday. Prime Minister Lee Hsien Loong, who was at the official opening of the adjoining Anchorvale Community Club in Sengkang, symbolically […]
‘Magic dollars’ scam lets HDB flat sellers pocket cash
They declare a lower price, thus keeping the difference instead of returning funds to CPF A NEW scam involving HDB flats has surfaced, this time allowing flat sellers to pocket extra cash by craftily getting around the rules. The so-called ‘magic dollars’ scam involves reporting a falsely low sale price to the HDB – an […]
HDB will cater to buyers with different income levels: Mah
THE Housing & Development Board (HDB) will continue to provide a range of housing options to cater to buyers of differing income levels and aspirations, Minister for National Development Mah Bow Tan told Parliament yesterday. He was responding to concerns that the price gain in the HDB market is putting flats out of the reach […]
HDB unveils ‘income for life’ scheme for the elderly
It will buy back tail-end of flat lease at market rate, with money going to CPF Life FOR 68-year-old retiree Teng Kiat Hwa, who owns a three-room HDB flat in Toa Payoh, his home is his only asset. Since he fell ill and stopped driving a taxi, he has had no income and his CPF […]
HDB launches 494-unit Punggol project
Four-room flats in BTO project meant to meet high demand; 278 applications so far THE Housing Board has released another new build-to-order (BTO) project in Punggol to meet surging demand from house hunters. It is offering 494 flats, all four-room units, at Punggol Spring – the first batch of 4,500 BTO flats planned for the […]
Mass-market safe, high-end may take a hit
Property players sketch the best and worst-case scenarios for private homes in 2008 (SINGAPORE) Luxury-home prices could fall by up to 20 per cent in 2008, assuming sub-prime woes don’t end this year. But the mass market may hold its own or ease 5-10 per cent at most. This was the worst-case scenario according to […]
Jurong Lake area: Big changes planned
URA in talks with stakeholders about plans for tourism, retail and entertainment centre A WAVE of changes has been planned for Jurong Lake. Government officials and industry captains have met and discussed the area’s potential as a commercial, retail and entertainment centre. Preliminary discussions centred on developing office space, a commercial centre with retail shops, […]
278 HDB flats swamped by 9,900 applications
Unsuccessful buyers urged to consider build-to-order flats THE Housing and Development Board received 9,900 applications for 278 flats offered in its February bi-monthly sale. Most of the units offered are four-room flats, plus 64 five-room units and 20 executive flats in 13 estates. There are 119 units in Toa Payoh and 39 in Tampines. HDB […]
HDB flat still very affordable for average S’porean
Some get up to $88k in subsidies, says Mah Bow Tan; also flats still cheap enough for families to use CPF for full mortgage payments PROPERTY prices may be on the rise but HDB flats still remain very affordable for the average Singaporean, National Development Minister Mah Bow Tan emphasised yesterday. That is because families […]
PROPERTY: Where to find homes at or below $600,000
They include executive condos as well as older private apartments in suburban locations THE property market has quietened considerably this year, but prices have yet to fall. Nevertheless, if you have a modest budget of about $600,000 for a home, your choices are not just confined to HDB flats. Some fairly new executive condominiums as […]
HDB offers 278 flats for sale
By end of yesterday, there were 2,224 online applications THE Housing and Development Board launched the sale of 278 flats in various towns and estates yesterday. And by the end of the day the units were many times subscribed, with 2,224 online applications received. Most of the units are four-room flats, plus 64 five-room units […]
2,224 in HDB line and it’s only Day 1
A BATCH of 278 surplus Housing Board flats in established towns like Bedok, Geylang and Toa Payoh drew more than 2,200 buyers within hours of going on sale yesterday. Buyers have until Feb 18 to submit online applications for a computer ballot that will fix their position in the queue to pick a flat. The […]
Stock of surplus flats vanishing fast
Buyers on tight budgets looking for finished flats will be vying for fewer units THE Housing Board’s offer of 278 surplus flats in mature towns yesterday will be likely to slash its stock of readily available units to less than 2,000, down from 17,500 in 2002. Surging demand and a shortage of affordable completed property […]
A touch of glass for Moulmein HDB flats
RESIDENTS of HDB flats in Cambridge and Owen Roads will be the first in Singapore to get see-through, bubble lifts like those found in hotels and shopping malls. They will be up and running by next year, said Minister of State (Education) Lui Tuck Yew yesterday at a Chinese New Year dinner for Tanjong Pagar […]
New HDB upgrading scheme won’t add much more to resale prices
The Home Improvement Programme will not boost prices of resale flats as much because upgrading is on a smaller scale, say property experts THE Home Improvement Programme (HIP) is the newest kid on the block in the Housing Board’s two-decade long upgrading scheme. Property experts, however, say that it will have a far smaller impact on […]
590 HDB blocks picked for upgrading
58 locations selected for improvement under revised schemes ABOUT 590 Housing Board blocks in 58 locations islandwide have been picked for the next batch of improvement works under the HDB’s recently revised upgrading schemes. Areas set to benefit include Yishun, Tampines and Hougang. These schemes include the new Home Improvement Programme (HIP) and Neighbourhood Renewal […]
HDB resale deals at a new low in 2007
Rising resale prices and higher COVs result in last year’s total of 29,436 THE number of resale HDB flats which changed hands fell to a new low in 2007 – with just 29,436 transactions recorded – as buyer resistance set in, in the face of escalating resale prices and more sellers asking for large amounts […]
Buyers paying $22k over valuation for resale flats
Median cash over valuation amount up a third; trend filters to outlying areas BUYERS of resale Housing Board (HDB) flats paid a median amount of $22,000 in cash over the property’s valuation for their new homes from October to last month, a whopping 30 per cent rise from the previous quarter. The good news for […]
Bumper prices fetched by HDB flats fuel condo demand
High cash over valuation provides ‘filter-up’ demand for private homes (SINGAPORE) More Housing Development Board flats in prime locations are now being sold for more than halfa-million dollars each, and the trend is pushing up the asking prices for mass market condominiums and adding to demand for entry-level private homes. Data compiled by property firm […]
HDB may offer 6,000 flats in H1
SOME 6,000 housing board flats are expected to be offered for sale in the first half of this year, Parliament was told yesterday. Minister of State for National Development Grace Fu said this matches the sales pace seen in the same period last year. For the whole of 2007, HDB sales programme offered 13,000 flats – […]
Why it’s difficult for HDB to predict demand
THE Housing Board cannot accurately predict demand for HDB flats years down the road. However, it will be flexible and boost the supply of flats when needed, Minister of State for National Development Grace Fu said yesterday. She gave this assurance in response to a question from Madam Cynthia Phua (Aljunied GRC), who wanted to […]
Chip Eng Seng wins $188m HDB contract
CHIP Eng Seng Corporation has been awarded a contract worth $188 million by the Housing & Development Board for the construction of 1,394 dwelling units in Queenstown. The contract, won through wholly-owned subsidiary Chip Eng Seng Contractors (1988) Pte Ltd, also includes the construction of a multi-storey carpark, link bridges, a roof garden, an education […]
Poor will not be neglected in HDB upgrading
Revised schemes allow for more flexibility and govt subsidies THE Housing Board will not neglect the needs of the poor, or be rigid, as it upgrades flats under schemes which have recently been revamped. The Minister of State for National Development, Ms Grace Fu, gave this assurance as the Housing and Development (Amendment) Bill, which […]
1,098 HDB flats now open for balloting
THE Housing Board yesterday launched a ballot for the sale of 1,098 flats in Bedok, Clementi, Queenstown and Jurong West with demand for public housing staying on the boil. The flats are surplus units from the board’s Selective En bloc Redevelopment Scheme, which relocates residents from ageing blocks to new ones nearby. Such flats are […]
Home prices stay firm even as property stocks retreat
Amid weak sentiment in a quiet market, many players are adopting a wait-and-see attitude SINGAPORE’S property stocks have been taking a hammering lately but the property market has so far remained unscathed. After riding the boom to dizzy heights, property counters have now dropped by up to 60 per cent or so from their high […]
4-room Jalan Membina flat sells for a record $609 psf
It is believed to be the first time an HDB flat has crossed the $600 psf mark A FOUR-ROOM flat at Jalan Membina has smashed the record for the most expensive Housing Board (HDB) flat ever to change hands in terms of price per sq ft (psf). The 969 sq ft flat sold for $590,000 […]
Queenstown flat sold for record $890k
21st-storey executive flat in Mei Ling Street was bought for $300,000 in 1992 THE brief for the property agent was simple: Find an HDB flat with great views and near an MRT station. Top floors only – and, it appears, never mind the price. Two intense days of door-knocking and a record $890,000 later, the […]
High-density homes may complement Paya Lebar hub
Study says they may come up on sites that are currently industrial estates (SINGAPORE) The development of vacant state sites already zoned for commercial use immediately around Paya Lebar MRT Station will spearhead the transformation of the area into a commercial hub. More interestingly, however, high-density homes may also come up slightly further away on […]
YOUR PERSONAL ADVISER: FINANCE
How can landlord reclaim house when tenant fails to pay rent? Q MY FRIEND’S three-room terrace house in Singapore was rented out to a divorcee and her daughter. The tenant put down a total deposit of $1,200, consisting of one month’s rental of $1,000 and $200 for utility bills. The tenant last paid rent in […]
PROPERTY: Are condo-like HDB flats good value?
They might come with fancy trappings but can’t be bought and sold freely like private condos THE high-end HDB flats launched yesterday at Boon Keng are the talk of the town. Styled to look like private condominiums, the flats in City View @ Boon Keng will boast timber flooring and large bay windows, as well […]
Condo-like flats in Boon Keng going on sale
Hot demand expected for second lot of public housing offered by private developers A FLURRY of applications is expected for the latest batch of flats that look like condominiums but sell for just about two-thirds the price of condo units in the same area. The second batch of public housing being offered by private developers […]
Home prices feel pull of gravity after 31% rise
Q4 tempers spectacular growth of 2007; mass market may shine this year (SINGAPORE) Private home prices rose 31.0 per cent in 2007 – the biggest year-on-year jump since 1999 – despite a slowdown in the fourth quarter caused by the withdrawal of the Deferred Payment Scheme (DPS) and sub-prime woes, flash estimates show. HDB resale […]
Rental flats for needy to be allocated from this month
A TOTAL of 2,194 rental flats will be added to the public housing supply by early 2010 to help the needy, in a move first announced in November 2006. The first batch of newly converted flats – consisting of 180 one and two-room units at Block 852, Woodlands Street 83 – will be allocated from […]
Rental flats: Review to weed out less needy
As demand rises, 2,200 more HDB rental flats to be made available over next three years PEOPLE who have sold a property could find themselves barred or placed at the back of the queue for subsidised rental housing as part of a policy review to weed out the less needy. National Development Minister Mah Bow […]
HDB price gains expected to ease after 17.4% rise
IT’S official: HDB flat prices enjoyed a spectacular bull run with a 17.4 per cent gain last year – the strongest growth in a decade – but market watchers say a repeat this year is unlikely. Industry experts estimate that this year’s total growth figure will be less than 10 per cent, due to general […]
Strong showing in some suburban areas and projects
Bukit Batok home prices soar 43% but other districts drop as much as 20% PRIVATE homes in some suburban areas proved the most resilient amid a general slowing in price rises across the board, the latest government figures show. Some suburban areas performed very strongly, but others showed uneven price growth. Data from Savills Singapore […]
Second batch of condo-like flats to go on sale
A FLURRY of applications is expected for the latest batch of flats that look like condominiums but sell for just about two-thirds the price of condo units in the same area. The second batch of public housing being offered by private developers goes on sale on Saturday, one year after the first lot was launched […]
LETTER TO THE EDITOR: New HDB flat prices based on market prices of resale flats
I REFER to the letter, ‘Since when did resale prices decide cost of HDB flat?’ (BT, Nov 30) by Lu Keehong. The prices of new HDB flats are based on the market prices of resale HDB flats, and not their costs of construction. In order to provide affordable housing to Singaporean families, new HDB flats […]
Buyers snap up new flats from HDB
HDB’S LATEST LAUNCH IN NORTH-EAST NO. OF FLATS: 316 APPLICANTS: 1,700 DEMAND for Housing Board flats has hit an all-time high. More than 1,700 applications were made for 316 new flats in the north-east zone released yesterday – just hours after the homes went on sale. In terms of sales, almost every unit of the […]
Rents for state-owned homes rise
(SINGAPORE) Now, you too can live like the colonial sahibs of old, as long as you are prepared to make the highest offer for monthly rental in an open bid. But be warned, rents of homes under the Singapore Land Authority’s (SLA) first bidding exercise held recently, increased by between 40 to 230 per cent […]
Want to rent this? Make a bid for it
New allocation system for select state-owned homes expected to cut long waiting lists RENTERS who have long hankered after that state-owned black-and-white colonial bungalow but are put off by the long waiting list can now bid for their dream home. State landlord Singapore Land Authority (SLA) said it is opening up its properties for bidding […]
2008 seen as year of mass market homes
Developers, consultants predict 10-20% hikes for this segment in 2008, high-end gains seen tapering to 0-10% (SINGAPORE) As the year draws to a close, developers and property consultants are cautiously optimistic about prospects for the Singapore property market next year despite the US sub-prime mortgage crisis and rising oil prices. For the residential sector, they […]
Easing in property rally can be good: Developers
PROPERTY developers are so rushed off their feet that they say the idea of the United States sub-prime crisis taking some froth out of the exuberant market can only be good. CapitaLand’s chief executive, Mr Liew Mun Leong, said in Ho Chi Minh City yesterday that market confidence has been affected a little by the […]
Sell my sea-view flat? Not even for $1 million
YOU can keep your $1 million; retired technician Jim Klass won’t sell his Marine Parade flat for any amount. ‘So what if my flat can fetch a good price? Where are we going to live after that? Here, we have the sun, sand and sea,’ said Mr Klass, 75, who has lived in the five-room […]
Privatise Neptune Court? Pay $144m
Finance Ministry’s estimated quote may dash hopes of unit owners hoping to seal en bloc deal RESIDENTS at Neptune Court may have to bury their dreams of reaping a windfall of up to $2.4 million each from a collective sale. The Ministry of Finance, which owns the land the estate sits on, has estimated that […]
October property loan growth hits 8-year high
Bank lending to sector reaches $105.7b, up 18% (SINGAPORE) Bank lending to the property sector continued to accelerate in October, growing at the fastest annual pace in eight years, according to new data from the Singapore central bank yesterday. Overall loans growth in the banking sector also picked up in October, the latest estimates from […]
Demand for subsidised HDB rental flats surges
Rise – fuelled mainly by soaring open market rents – has doubled waiting time for those in queue SOARING rents in the open market are forcing more people to opt for subsidised HDB rental flats, but the extra numbers have doubled the waiting period. Eligible low-income households now must wait five to 11 months to […]
More supply but HDB prices will go up: Mah
Board may offer another 6,000 units through build to order scheme (SINGAPORE) The Housing and Development Board will continue to monitor demand and could offer another 6,000 units through its build-to-order (BTO) system. However, prices are also likely to go up. Saying that he did not want to ‘fudge the issue’, National Development Minister Mah […]
More than 7,000 new flats expected over next 7 months
Over 1,000 flats in 2 projects launched yesterday; 6,000 more to come by next June NEWLY-WEDS need not worry about not having a new HDB roof over their heads. More than 7,000 new Housing Board flats will be offered for sale over the next seven months, as well as seven plots of land which could […]
Condo-like housing plot nets $134m bid
A THIRD site earmarked for public housing to be designed, built and sold by private developers has attracted a top bid of $134.2 million. Greatearth Development placed the bid, which was 13 per cent higher than the one submitted by its closest rival, AMK Development, and well ahead of those of the other three contenders. […]
RECORD PROPERTY DEAL NO. 1: Paying a premium for ocean views
But analysts say price tag is not typical of HDB market, which is more moderate IN AGEING five-room HDB flat in Marine Parade has been snapped up for a record price of $750,888 – and all because of its sweeping ocean views. The buyers, who paid cash, bought the 32-year-old Marine Terrace flat as their […]
Record property deals: $750,888 for 5-rm Marine Parade flat
IN FRESH signs the property market is still pretty hot, an HDB flat has sold for a record $750,888 – and a developer has paid a record price for a collective sale site. A retired couple yesterday bought the 32-year-old recently renovated flat in Marine Parade. The couple, who declined to be named, have lots […]
ECs gain appeal as HDB, private home price gap widens
Easing of rules expected to increase demand for exec condos THE rising property market has brought executive condominiums (ECs) back from the brink of extinction. These homes – which are halfway between public housing and private condominiums – suddenly looked much more appealing after rules for buyers were relaxed on Tuesday. Property consultants now expect […]
No resale levy for second-timers buying ECs
NEW executive condominiums (ECs) will be even more attractive now that the resale levy is no longer payable. The Housing and Development Board imposes the levy on those who sell their first flat to buy another from the board. It is a fixed sum that ranges from $15,000 to $50,000 according to flat type, and […]
Walk along coast, golf in Punggol
A 4.9km waterfront promenade will feature a host of attractions by 2010 THE vision of Punggol as a vibrant waterfront town was given more flesh yesterday. A $13 million plan to redevelop a part of its surrounding coastline will put at residents’ doorsteps a 4.9km walking trail that opens up access to the Punggol coast. […]
En bloc fever catches on in HUDC estates
Shunfu Ville, Eunosville, Serangoon North residents trying to go private to enable collective sales THE collective sale fever that has swept through condominiums has spread to three HUDC estates. Residents in Shunfu Ville, Eunosville and Serangoon North are trying to privatise their estates so that they can sell their flats to private developers for a […]
No flat = No wedding
Newly-weds who find it hard to get a flat amid buoyant property market are putting off their weddings AS PROPERTY prices rise, some newly-wed couples are postponing their traditional ceremonies while they wait for a new Housing Board flat. Many have been priced out of the resale market while others want to buy a new […]
9 Hougang blocks to be torn down for estate makeover
Move aimed at better land use, says HDB; part of area will be used for private homes NINE blocks of rental flats, shops and workshops, and a hawker centre in the opposition ward of Hougang are being cleared by the Housing Board. The board said yesterday that the move was ‘part of ongoing plans […]
S’pore home price gains set to slow
Buyers holding back purchases on US sub-prime fears, says Frasers CEO (SINGAPORE) Singapore’s home prices will probably increase at a slower pace as buyers hold back their purchases amid the US subprime crisis, said Lim Ee Seng, chief executive officer of Frasers Centrepoint Group. Losses related to US housing mortgages have sapped consumer confidence, Mr […]
Essential homework before taking loan
KEVIN LAM discusses five key areas that your home loan banker would be looking very closely at THIS has been a special year for the property market. Not since the early 1990s has there been such euphoria about the property market – long queues at property launches, stories of someone we know making fast money […]
IRAS to raise annual values of HDB flats
Market rental values have increased significantly, it says THE Inland Revenue Authority of Singapore (IRAS) is raising annual values (AVs) for all Housing & Development Board (HDB) flat types for the first time in about four years, to reflect the ‘significant increase in their market rental values’. From Jan 1, 2008, the average AVs will […]
No plans for more measures to cool property market: Mah Bow Tan
(SINGAPORE) No further measures are planned to cool Singapore’s booming property market, the government said yesterday, following the end of the deferred payment scheme (DPS) for buying uncompleted private properties. ‘There is no need and there is no intention for us to take any further action,’ National Development Minister Mah Bow Tan said in Parliament […]
Property market: No further plans to cool it
Govt assurance dampens speculation on capital gains tax THE Government is not planning any fresh measures to cool the property market for now, National Development Minister Mah Bow Tan said yesterday. His statement effectively hosed down speculation that a capital gains tax might be reintroduced to stop people flipping units for quick gains. The […]
Annual values of HDB flats to rise
GET ready to pay more property tax next year. Along with the rise in home prices, the taxman is revising the value of most properties upwards. However, rebates given to offset the impact of the goods and services tax (GST) hike this year will soften the move’s impact. The annual values of all types of […]
Katong Hostel wins master lease tender for Tiong Bahru flats
THE Housing & Development Board (HDB) yesterday awarded the tender for the master lease of 120 three- and four-room vacated flats in Tiong Bahru to Katong Hostel at a tender price of $230,280 per month. The company was the highest of 15 bidders at the tender which closed on Oct 9. Katong Hostel will be […]
Tiong Bahru Sers flats to be rented for up to $4,500
Winning bidder in HDB pilot scheme aims to target foreign students, expatriates A COMPANY that has just won an HDB tender in a pilot scheme plans to rent out 120 flats at Tiong Bahru for up to $4,500 a month to foreign students and expatriates. It is the first step to boost the supply of […]
$730k view – 5-room HDB flat in Marine Parade sold for record sum
AN UNRENOVATED 32-year-old five-room flat in Marine Parade, on a high level with a full sea view, has been sold for $730,000 – a new record for an HDB flat. This trumps the previous record of $720,000, set in June by a fairly new five-roomer in Kim Tian Place. The buyer, who declined to be […]
Analysts see no property bubble
They’re mum on whether it’s a good time to buy, but agree S’pore fundamentals are pretty robust. PROPERTY: boom or bust? This was the intriguing question to which a capacity turnout of about 170 investors recently sought answers, at a dinner hosted by financial advisory firm ipac. The good news is that the experts at […]
Using HDB equity to pay for annuities
The median CPF member holds three times more in HDB housing equity than CPF cash holdings A NEW scheme making annuities compulsory for Central Provident Fund (CPF) members has been greeted quite negatively by the public. The scheme involves setting aside a small portion of the Minimum Sum to buy the annuity. When the individual […]
Median COV for HDB resale flats up 140%
But number of resales falls 11% in Q3 to 7,700 (SINGAPORE) Housing and Development Board (HDB) flats are re-selling on the open market for a median of $17,000 above valuation. HDB said that 80 per cent of resale flats in Q3 required cash over valuation (COV). HDB only started to release data on COV recently […]
HDB resale flat prices surge 6.6%
Private homes see 8.3% rise; strong demand filtering to suburban areas THE Hungry Ghost Festival did little to cool the property sector last quarter with prices of HDB flats and private homes continuing to soar. New data yesterday also reinforced a trend that emerged from early figures – intense demand is filtering out from prime […]
Buyers paying way above valuation for HDB flats
IF YOU are looking to buy an HDB resale flat, make sure you have plenty of cash on hand. Due to soaring home demand, an average HDB resale flat now costs $17,000 above its valuation from $7,000 just three months ago. This figure, called the cash-over-valuation amount, has to be paid in cash by a […]
Rentals for private homes, HDB flats continue to soar
Private home rents jump 11% while HDB flat rents surge 21% on landlords’ increased expectations TENANTS complaining about rising home rentals now have official figures to back them up. Rents of private homes and HDB flats soared in the July to September period, according to the latest data released by the Government yesterday. They climbed […]
HDB launches BTO projects in Bukit Merah, Punggol
The Housing and Development Board (HDB) yesterday launched two new housing projects – Telok Blangah Towers in Bukit Merah town and Punggol Lodge in Punggol town – under the Build-To-Order (BTO) system. All in, 916 new premium and standard flats are on offer comprising studio apartments (SAs), three-room and four-room flats. The application period for […]
400 new flats offered for sale in Telok Blangah
687 applicants register for units in central area; 516 new flats also launched in Punggol POTENTIAL buyers have rushed to put their name down for 400 new premium flats near the heart of town, launched for sale by the Housing Board yesterday. By 5pm yesterday – nine hours after applications opened – 687 people had […]
Prices of HDB resale flats keep accelerating
RIDING on the property boom, HDB resale prices are on the rise. The price index of resale flats was 6.6 per cent higher in the third quarter compared to the previous quarter, the HDB said in a press release on Friday. Price increases were seen across most flat types and towns. ‘As at end-September, the […]
Prices of HDB resale flats keep accelerating
RIDING on the property boom, HDB resale prices are on the rise. The price index of resale flats was 6.6 per cent higher in the third quarter compared to the previous quarter, the HDB said in a press release on Friday. Price increases were seen across most flat types and towns. ‘As at end-September, the […]
Property booms, busts make economy vulnerable
SINGAPORE ECONOMIC POLICY CONFERENCE Bubble cuts private spending, raises reliance on volatile foreign demand PROPERTY price booms and busts make Singapore’s economic growth more vulnerable to volatile factors and should be prevented, an economist at a think-tank said here yesterday. While the impact of a spike in property prices on overall GDP growth is ‘quite […]
No bubble in property market: NUS study
DESPITE Singapore’s red-hot property prices, no bubble is forming in the property market here, according to a study by National University of Singapore (NUS) economists. In fact, the rise in home prices is below the market’s long-run ‘equilibrium’ level, based on factors such as income and property supply, preliminary findings of the ongoing study show. […]
HDB expects stock of unsold flats to drop to 2,200 units by year-end
THE stock of unsold Housing and Development Board (HDB) flats, which stood at about 10,000 three years ago, is now down to 3,500, and the board expects the stock to fall to 2,200 units by the end of the year. Speaking at a press conference to release the HDB Annual Report 06/07 on Tuesday, HDB […]
HDB expects stock of unsold flats to drop to 2,200 units by year-end
THE stock of unsold Housing and Development Board (HDB) flats, which stood at about 10,000 three years ago, is now down to 3,500, and the board expects the stock to fall to 2,200 units by the end of the year. Speaking at a press conference to release the HDB Annual Report 06/07 on Tuesday, HDB […]
HDB prices likely to go up as unsold flats dwindle
1,600 apply online for 489 flats offered in balloting/walk-in sale yesterday THE number of unsold Housing and Development Board (HDB) flats is getting smaller, with prices expected to go up. HDB put up 489 flats in the North and West zones for sale yesterday through its Bi-monthly Combined Balloting/Walk-in sale exercise, and at the end […]
Singapore Roundup
Interest in old Tiong Bahru flats A STATE property consisting of some old flats at Tiong Bahru Road has attracted much interest, with the highest bid of $230,280 per month coming from Katong Hostel Pte Ltd. Blocks 1, 3, 5, 7 and 9 along Tiong Bahru Road, which together have 120 flats with a total […]
Next-gen HDB housing to offer greener lifestyles
Minister notes keen interest in such housing: 80% of first eco-precinct taken up SINGAPOREANS increasingly aspire to greener lifestyles and the next generation of public housing will cater to these needs. Minister for National Development Mah Bow Tan delivered this message on growing interest in environmentally sustainable housing at the annual Housing Board awards and […]
MANAGING AGENT FOR 120 FLATS – Katong Hostel top bidder in HDB tender
A SMALL firm, Katong Hostel, has emerged as the top bidder in a tender to find a managing agent to lease out 120 HDB flats. The flats – likely to be let to international students and expats – have been vacated ahead of redevelopment under a pilot HDB scheme. They will be leased out for […]
