The price of resale flats went up in the first quarter of 2011, but Cash-Over-Valuation premiums fell to S$21,000 - a 9 per cent drop from the previous quarter, according to data from the HDB. Observers attribute the lower COV premiums to the government's cooling measures which took effect in the first quarter of this year. Going forward, analysts have mixed views on the outlook for COV...
HDB News
HDB resale prices increased in the first quarter of this year, albeit at a slower rate, as property cooling measures kicked in. The Resale Price Index increased 1.6 per cent in Q1, compared with 2.5 per cent in the previous quarter. Cash-Over-Valuation premiums dropped nine per cent or S$2,000 to S$21,000 from the previous quarter, with the proportion of resale cases transacting above valuation remaining...
The Housing Development Board (HDB) on Monday launched 3,185 new build-to-order flats, forming the largest supply of subsidised housing in a single launch since 2002. The offer consists of 105 units of two-room, 541 units of three-room, 1,797 units of four-room and 742 units of five-room flats. At least 95 percent of the units will be allocated to first-time owners, the HDB said in a statement. Another...
The Housing and Development Board (HDB) has closed the tender for a residential site at Tampines Central 7 after receiving four bids. The highest bid came from developer Sim Lian Land for S$278.8 million. The land parcel has a site area of 22,000 square metres and a maximum gross floor area of 66,000 square metres. The site, slated for executive condominium (EC) housing, was launched for public tender...
The HDB compulsorily acquired 39 flats from their owners last year as they had blatantly infringed the subletting rules. One of the flats acquired was at Pinnacle@Duxton. The owner had sublet the entire flat without HDB's approval in the guise of subletting of rooms, shortly after the flat purchase in January last year. During its night inspections in May and June 2010, HDB found that the owner was not...
About 556,000 CPF members use their CPF savings to service the loans for their HDB flats and 88 per cent of them are covered under the Home Protection Scheme (HPS). In a written reply, National Development Minister Mah Bow Tan said HPS is a mortgage-reducing insurance scheme. It protects HDB households against the loss of their flats should the breadwinner pass away or become incapacitated before the...
National Development Minister Mah Bow Tan said the cash-over-valuation (COV) paid on resale public flats has continued to drop. He said that based on early estimates, COV levels are currently S$20,000 to S$21,000, down from S$23,000 in the last quarter of 2010. Transaction volume has also dropped, but he declined to give figures. His comments came a day after HDB released figures showing that the growth...
The Housing and Development Board has awarded the residential land parcel at Choa Chu Kang Drive to Camborne Developments. The developer had submitted the highest tender price of S$170.1 million out of the six bids for the site that is proposed for executive condominium (EC) housing. The 17,590 square metre site was launched for sale on January 21 and closed on March 22. The 99-year leasehold site has a...
The Housing and Development Board (HDB) is launching the tender for a residential site at Buangkok Drive/Sengkang East Drive on Wednesday. The site, which is slated for condominium development, can potentially yield 550 dwelling units. It is being released for tender under the Confirmed List of the 1st Half 2011 Government Land Sales Programme. Located to the east of Sengkang New Town, residents there...
HDB has launched two new Build-To-Order projects, Boon Lay Fields in Jurong West and Compassvale Ancilla in Sengkang. A total of 1,527 new flats are being offered. Prices at Compassvale Ancilla range from S$77,000 for a studio apartment to S$444,000 for a five-room flat. Flats at Boon Lay Fields sell for between S$168,000 for a three-room unit and S$391,000 for a five-room flat. The application period...