National Development Minister Khaw Boon Wan expects to take three to five years to substantively solve the imbalance between the supply and demand for HDB resale flats. He said he is confident that resale flat prices will stabilise but stressed that the problem of high prices cannot be solved overnight. He urged Singaporeans to be patient. Mr Khaw said this in response to questions from reporters on the...
HDB News
Prices of HDB resale flats rose a steeper 3.1 per cent in the second quarter compared to the 1.6 per cent increase seen in the first quarter. The number of transactions rose by about 6 per cent to some 6,600. The median Cash-Over-Valuation (COV) has also risen. The COV for a 5-room flat in Bishan was S$50,000. In Toa Payoh it was S$70,000. Explaining the steeper increase, key executive officer of ERA...
Compared to about a month ago, the mood in the public housing market today could not have been any more different. The gloom and anxieties of first-time applicants for new Housing and Development Board (HDB) flats have now been considerably dispelled. Two combined launches offering about 4,000 and 3,500 flats in May and mid-July, respectively, in various HDB new town locations have significantly raised...
The latest Build-to-Order (BTO) project saw three applicants for every new flat on offer. There were 3,556 flats for the picking in the combined BTO exercise. All in, there were 11,548 bids for seven projects across the island. This includes areas like Sengkang, Tampines, Jurong West and Yishun. The combined launch is a new initiative aimed at providing home buyers more choice and greater chances of...
National Development Minister Khaw Boon Wan said it's more effective to release a larger number of Build-To-Order (BTO) flats per launch as it gives home buyers greater choice and improves their chances of selecting a unit. Thus, the BTO projects for the next two months will be combined into a single launch, and will likely be put up for balloting in September. Mr Khaw was speaking to reporters after...
National Development Minister Khaw Boon Wan has elaborated on who were the successful applicants in the Build-To-Order (BTO) exercises from January to March this year. In his latest blog entry, Mr Khaw said when an application rate is about 2, which means two applicants for one unit, almost all applicants will get a chance to select. This is because not all who are asked to select do so. For the January...
The Housing and Development Board (HDB) has launched seven Build-to-Order (BTO) projects offering 3,600 new flats. It has combined the BTO launches originally planned for June and July in Thursday's launch, giving flat buyers more housing options. These 3,600 new flats are located across various towns, in Sengkang, Punggol, Tampines, Jurong West, Yishun and (two BTOs in) Bukit Panjang. Most of the flats...
It was a slow start to the first weekend of the walk-in-and-buy phase of the most expensive Design, Build and Sell Scheme (DBSS) flats to hit the market. When MediaCorp visited the showroom of Centrale 8 on Saturday at 6pm, around 20 families were viewing the project. A board which listed the availability of the 708 units in the project, said around 35 per cent of the flats have been sold since the...
Many buyers are prepared to pay a premium for developments in good locations, so shouldn't the HDB take that into account when pricing flats, asks Colin Tan If there was to be just one lesson one could take away from the recent fiasco over the Design, Build and Sell Scheme (DBSS) project in Tampines launched last month, it has to be that property is essentially all about location - not tenure, not designs...
The Housing and Development Board (HDB) has confirmed that a Design Build and Sell Scheme (DBSS) land sales tender at Sengkang will be withdrawn. The tender was originally scheduled to close on July 20. The Ministry of National Development said the withdrawal is part of its overall review of housing policies. It also said that no new DBSS site will be released for sale until the review is...