2015 should see greater stability in HDB prices: Khaw

Prices for Housing and Development Board (HDB) flats have been moderating and the market shifting from a seller’s to a buyer’s market in 2014, but the shift is not yet complete, National Development Minister Khaw Boon Wan wrote on his blogpost on Monday (Dec 29).

Mr Khaw wrote: “The shift is not yet complete and 2015 should see greater stability. We are scaling down the pace of construction but remain proactive on refining our policies to meet diverse housing needs of flat buyers and home owners: Singles, married couples who wish to live together with or close to their parents, seniors who wish to monetise their large flats, etc.”

He added that with the handover to HDB of a completed block at the Waterway Woodcress Build-To-Order (BTO) project, it marked the completion of 28,000 new flats in 2014. For 2015, he said 26,000 new flats will be completed and handed over to buyers, including SkyTerrace@Dawson, SkyVille@Dawson and Waterway Terraces. New projects scheduled to be launched in 2015 include the first BTO project in Bidadari.

The minister pointed out that HDB will be launching a lower number of new flats – 16,900 – but there will still be a diverse mix of flat types and locations, and he expects them to be “popular”.

In conclusion, he wrote: “For HDB, 2014 is ending on a perfect note. If the global environment remains benign, I expect 2015 to also be spectacular for Singaporeans and HDB residents.”

QUALITY OF PUBLIC HOUSING HAS IMPROVED: KHAW

Mr Khaw also said that the quality of public housing has improved in recent years, and even caught up with private housing.

For instance, residents at Waterway Woodcress get to enjoy waterfront living, with unblocked views of the waterway. Some even said that it feels as though they are living in a private estate.

Said Mr Kayom Abdul Samad, a resident at Waterway Woodcress: “The environment here is really nice and it is unique to have an HDB flat which has a master bedroom with a balcony – it is like a condominium. This is something we can achieve even though it is not in actual fact a condominium, it is an HDB flat.”

Another resident, Mr Eugene Yeo, said: “I think right now, most HDB flats looks almost like a condominium, and that is what draws a lot of young people.”

Mr Khaw said that in recent years, public housing has caught up with private housing, and in some cases, he believes it has “exceeded private housing as well”.

“Especially if you jog along the Waterway, you see HDB flats, you see executive condominiums (ECs), and further away you see some condominiums as well. And unless you have a trained eye, it is not easy to distinguish which is HDB, which is EC and which is a private condominium,” Mr Khaw said.

Source : Channel NewsAsia – 29 Dec 2014

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