The Singapore government will not step in to underwrite existing bank loans to property developers for now. This is because loans and other financing options are still available despite the current credit crunch, said National Development Minister Mah Bow Tan in Parliament on Monday. The economy is facing a difficult recession, but Singapore property developers may have been spared the brunt of the...
HDB News
Housing and Development Board (HDB) has launched the sale of 438 flats in various towns and estates. The flat supply comprises 3-room and bigger flats. Most of the units offered are four-room flats. They are located in 23 towns and estates from Yishun to Sengkang. Interested flat buyers may submit their applications online from Monday until April 20. HDB will then conduct a computer ballot to...
The Housing and Development Board (HDB) has received 1,540 applications for its Build-To-Order (BTO) project called Nautilus@Punggol. The project, which consists of 519 four-room and five-room flats, is HDB's latest BTO project and the first in Punggol. Prices for the four- and five-room flats are expected to cost 20 to 30 per cent less than resale flats in the vicinity. At the close of applications on...
Prices for private property and public housing fell steeply in the first three months of the year. In the Housing and Development Board (HDB) resale market, the first drop since 2006 was seen. HDB's flash estimate, based on its Resale Price Index, showed a decline of 0.6 per cent in the first quarter compared to the fourth quarter of last year, which had registered a 1.4 per cent increase. Still, some...
The Nautilus@Punggol is the Housing and Development Board's (HDB) latest Build-To-Order (BTO) project and the first in that area. Prices for its 4- and 5-room units are about 20 to 30 per cent lower than the resale flats in that vicinity, signalling generous subsidies for these new flats. The Nautilus@Punggol will have eight blocks comprising some 520 flats. Of these, nearly 80 per cent are 4-room flats...
Bukit Panjang will be among the first few places to kick off the Neighbourhood Renewal Programme aimed at upgrading older HDB estates. S$6 million has been set aside to rejuvenate the Cashew division in the area. Nearly 1,700 homes in the Cashew division will benefit from the Neighbourhood Renewal Programme. In the pipeline are more cycling and jogging tracks, covered linkways and residents'...
Champions Court - this year's first Build-to-Order (BTO) project in Woodlands - has been oversubscribed. Almost 3,200 applications have been received for the 815 units on offer. The project comprises studio apartments, three, four and five-room flats, and applications for all types have been oversubscribed. For example, there are only 224 studio apartments on offer, but 618 applicants are vying for them....
I AM in a situation which is one I am sure, more than a handful of HDB flat buyers are in too, particularly in this economic downturn. This problem permeates almost every residential estate, with no effective solution in sight. Perhaps the solution is in the form of prevention, not cure. Late last month, I collected the keys of my HDB resale three-room flat. The paperwork had proceeded smoothly and the...
UNITED Overseas Bank has become the first in Singapore to tie up with Singapore Post to distribute HDB home loans, extending its mortgage services beyond its 57 branches. In recent years, more banks have started offering their services in non-traditional spaces - such as train stations, convenience stores and petrol kiosks - to reach out to customers. Yesterday, UOB said its HDB home loans will be, for...
WE REFER to the letters, "The social and financial impact of no-frills flats, estates" and "DBSS contractors will only sell at a profit" (Feb 11). HDB is mindful to ensure the affordability of public housing even as they are equipped with the essential amenities and basic finishes. We agree that children‚s playgrounds and neighbourhood parks are necessary to serve the needs of HDB residents, especially...