MORE than 85,000 Housing Board flats in eight neighbourhoods in central Singapore will be upgraded in a project that will cost $1 billion, said Deputy Prime Minister Wong Kan Seng yesterday at an event to mark HDB's 50th anniversary this year. The Government has already spent $3.4 billion in some form of upgrading for 150,000 public flats in these towns which include Ang Mo Kio, Bishan, Toa Payoh,...
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It's a key source of financial security upon retirement, home owners told DEPUTY Prime Minister Wong Kan Seng yesterday urged home owners to think before selling their HDB flats in the current upbeat property market. 'In today's brisk market, some of us may be tempted to sell our flat for a profit. I urge you to think carefully before you act on it. Your HDB flat is meant for you to keep for a longer...
The Housing and Development Board (HDB) has committed another $1 billion to upgrade eight towns. Deputy PM and Minister for Home Affairs, Wong Kan Seng announced this at the HDB's 50th anniversary celebrations on Sunday. The eight towns are in the Central zone, namely Ang Mo Kio, Toa Payoh, Bishan, Serangoon, Kallang/Whampoa, Queesntown, Bukit Merah and Central. This is on top of $3.4 billion spent...
PRICES of resale executive condominiums (ECs) have risen much faster than those of private mass market homes in recent years, and have hit yet another high, a recent study has found. From the first quarter of 2007 to the first quarter of this year, the prices of resale ECs shot up 70 per cent, compared with the 39.6 per cent rise in mass market private home prices, the study from Savills Singapore...
SINGAPORE'S public housing programme is testament to the foresight of its leaders. That was the view of Dr Fang Xinghai, head of the Shanghai Municipal Government financial services office, who arrived here on Sunday. He is visiting Singapore for a week as the 30th Lee Kuan Yew Exchange Fellow. Speaking last night at a welcome dinner in his honour at the Shangri-La Hotel, Dr Fang noted that it was...
FOUR plum residential sites which will yield almost 2,000 new homes are being released for tender by the Government in a move to ramp up supply in Singapore's hot property market. They include Punggol's first executive condominium (EC) site, to boast 615 homes, which will be released for tender early next month as a developer has already made a minimum bid of $147.7 million. In stark contrast, when a...
More new housing units will be added to the market to give buyers more choices. The Housing and Development Board (HDB) will put on sale on Wednesday two residential sites in Sembawang and Sengkang. It also put two other sites in Punggol and Yishun on the reserve list for public tender early next month. They are expected to yield about 1,970 dwelling units. About 60 per cent or about 1,215 are Executive...
BUYERS are chasing Housing Board resale prices relentlessly as if they are freehold properties. For instance, five-room flats in Marine Parade, with less than 65 years of lease left, are changing hands at $700,000 each or more. If these prices are averaged out over 99 years to compare with new apartments with 99-year leases, it would put the valuation of such units at more than $1 million. Is the price...
Real estate agents say executive condominiums (ECs) have become more popular. They are the next best thing for those who are priced out of the private condominium market, where prices have been hitting new highs recently. Property agents said that in the last two to three years, the price of each square foot has increased by about 70 per cent. In the first quarter of this year, the resale value of each...
Since the beginning of this year, the Housing and Development Board (HDB) has started taking action to re-possess three flats for unauthorised subletting. The flat owners had rented out their entire units without fulfilling a minimum occupation period. The housing board stressed that HDB flats are meant for owners to live in not for speculative purposes. A routine inspection in Bukit Batok uncovered...