Senior Minister of State for the Ministry of National Development & Ministry of Education Grace Fu said the recent announcement to extend a second loan to more HDB flat buyers is to help manage their mortgage obligations and not to encourage property speculation. "The objective of allowing a second loan regardless of whether it's upgrade or downgrading, it's really to allow some families to make...
General
Two restaurants at the Admiral Country Club in Sembawang have decided to shut down since plans to develop it have yet to materialise, even though the tender was awarded nearly three years ago. The Old Admiralty House was gazetted as a national monument in 2002. The Singapore Land Authority (SLA) then awarded a tender to the YESS Group, a lifestyle business developer, who had plans to transform it into a...
Located at Nathan Road, near the exclusive neighbourhood of Bishopgate, Nathan Suites comprises of only 65 exclusive units ranging from 2 to 4 bedroom apartments. 24 storeys high with landscape deck, basement carparks, swimming pool and communal facilities. Designed by internationally acclaimed Japanese architect Jun Mitsui & Associates, Nathan Suites is located just within walking distance...
The government has sharpened the differentiation in housing benefits enjoyed by citizens and permanent residents (PRs), but some PRs have said it is still not enough for them to take up citizenship. And as revealed in Parliament on Friday, households comprising one citizen and one PR will now have to pay more to buy an HDB flat. A new quota for non-Malaysian PRs has also been implemented to prevent...
HDB resale flat owners must occupy their flats for at least three years before they can sell them. The move is to further curb speculation in the HDB resale market. But the board's also extending help to genuine buyers by revising its second concessionary loan policy. An HDB flat is meant for residents to live in not for short-term profit. It's a message that housing authorities have repeatedly stressed...
The Lease Buyback Scheme will be enhanced starting April 1 to include elderly households who previously owned four-room or bigger flats. It was launched a year ago to help elderly household owners currently living in three-room and smaller flats unlock the value of their homes. Under the scheme, the elderly will continue to live in their homes, but sell the tail-end of their lease back to the government...
The Minimum Occupation Period (MOP) for the resale of non-subsidised HDB flats has been revised upwards to three years. Announcing the change in Parliament on Friday, National Development Minister Mah Bow Tan said the objective of such a move was to reinforce the idea that HDB flats are for owner-occupation. He stressed that flats are not meant for speculation or short-term profit. And with the...
The Housing and Development Board said that one in two applicants did not book a flat when invited to do so under the Build-To-Order (BTO) system. National Development Minister Mah Bow Tan revealed this figure in Parliament on Friday. He added that the high application rates for recent BTO launches do not reflect true demand for flats. Mr Mah noted that 22 per cent of the applications for BTO projects in...
High-end properties are revisiting the $3,000 psf price range. In the Marina Bay area, the 1,111-unit The Sail @ Marina Bay steals the spotlight once again with six transactions in the week of Jan 26 to Feb 5; four above $2,000 psf while two crossed the $3,000 psf level. While Sentosa Cove and Keppel Bay are abuzz over the opening of Resorts World at Sentosa, excitement is also mounting at Marina Bay as...
The Housing and Development Board (HDB) has received 11 bids for the sale of a site in Sengkang at Compassvale Bow. The 19,000 square metre site is designated for an executive condominium under the Design, Build and Sell Scheme (DBSS). The top bid came from Opal Star and Lum Chang Building Contractors who offered S$193 million for the site. That translates to about S$315 per square foot. Opal Star is a...