A shorter queue for the needy to rent a flat from the government. That's what National Development Minister Mah Bow Tan hopes to achieve when he announced stricter rules for Singaporeans who want to rent a flat at subsidised rates from the Housing and Development Board (HDB). Currently, it takes about two years to rent a HDB flat. But the waiting time may be reduced to one year, with stricter rules for...
hdb news
The National Development Ministry has announced a slew of measures to ensure Singaporeans have a roof over their heads, especially during these difficult times. Speaking in Parliament on Friday, National Development Minister Mah Bow Tan said the key thrusts are to keep home ownership affordable, help home owners with financial difficulties, increase help for the needy and safeguard rental flats. Madam...
The Housing and Development Board (HDB) is tightening its rental flat eligibility criteria with immediate effect to ensure that these heavily subsidised flats go to the truly needy. HDB rental flats come cheap. With rent rebates and discounts, 85 per cent of tenants pay very low rent, according to the National Development Ministry. Taking into account the increased rebates under the Goods and Services...
The Housing and Development Board (HDB) will temporarily reduce or defer loan repayments for up to six months to help households affected by the current recession. National Development Minister Mah Bow Tan, speaking during the debate on his ministry's budget estimates in Parliament, said this move aims to help homeowners who have had their incomes affected by retrenchments or pay cuts. "This gives them...
From Mar 1, HDB will accept applications for the Lease Buyback Scheme (LBS). LBS is a new monetisation option to help elderly households in three-room or smaller flats unlock their housing equity to meet their retirement needs. This was announced by National Development Minister Mah Bow Tan in Parliament on Friday. Under this scheme, HDB will buy back the tail-end of the lease of their flats, leaving...
A study by real estate agency ERA has shown that the resale prices of Housing and Development Board (HDB) flats in Jurong appreciated faster than other suburban towns in Singapore. It compared median resale prices in the fourth quarter of 2008 to those in the first quarter of the same year. The study covered three- to five-room, and executive flats in Jurong West, Tampines and Woodlands. The comparison...
Construction firm Koh Brothers has won a contract to build the first part of the Punggol Waterway in Punggol Town. The contract, which is awarded by the Housing and Development Board (HDB), is worth S$144.6 million. Under the deal, Koh Brothers will build a 2.4-kilometre waterway and its related engineering works in Punggol Town. The waterway, which will have a promenade on both banks, will be connected...
Surprise drop of 24% inQ4 volume, but analysts say HDB demand intact IT WAS a drop that caught most analysts by surprise - raising fears of a demand downtrend amid a souring economy, even in the traditionally resilient public housing market. After a strong showing in the first three quarters, the number of Housing and Development Board (HDB) resale flat transactions plunged 24 per cent in the last...
It should be more sensitive to tough economic times BUSINESSES big and small are being ravaged by the global economic downturn, with firms here down on their knees pleading for all the help that they can get, from cash to measures that will help them reduce their costs. The Government has recognised their plight and has promised help. Prime Minister Lee Hsien Loong said the Government would help workers...
Singapore's public housing market is expected to do well this year, compared to the slumping real estate markets across Asia. The economic slowdown means homebuyers are likely to opt for cheaper units from the Housing and Development Board (HDB) over more expensive housing like condominiums. On the private housing front, transaction volumes and prices have fallen at an increasing pace in recent months...