The Ministry of National Development (MND) said the Housing and Development Board's (HDB) net deficit will continue to be high in the next few financial years. Speaking in Parliament on Tuesday (Jan 20), National Development Minister Khaw Boon Wan said the spike in FY2013 was due to HDB's ramp-up in its flat-building and upgrading programmes. He was responding to a question by MP Foo Mee Har regarding...
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A total of 202 flats were compulsorily acquired by the Housing and Development Board (HDB) between January 2012 and December 2014, Minister of State for National Development Desmond Lee said on Tuesday (Jan 20). Flats are compulsorily acquired from lessees who have committed major lease infringements such as the unauthorised subletting of flats, Mr Lee said, in response to a Parliamentary question by MP...
The Amore EC - the last executive condominium (EC) for which HDB upgraders do not need to pay a resale levy - opened for booking on Saturday (Jan 17). The project has 378 units on offer. As of 3pm, about 70 units have been sold. Channel NewsAsia understands that buyers picked up mostly the three-bedroom units, which make up 65 per cent of units sold. Potential buyers whom Channel NewsAsia spoke to...
The resale prices of Housing and Development Board (HDB) flats fell 0.4 per cent on-month in December, hitting a 41-month low, the Singapore Real Estate Exchange (SRX) said on Thursday (Jan 8). According to the SRX data, prices are now at their lowest since August 2011. The price drop was driven by non-mature estates, which saw resale prices decline 0.9 per cent last month. However, prices in mature...
The Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) will ensure that a proposed temple at Fernvale Link in Sengkang will "integrate well with the surrounding developments, the same way other existing places of worship have been integrated in many residential estates", both agencies said in a statement on Tuesday (Jan 6). This follows an outcry by residents over plans for a...
Flash estimates of the fourth quarter Resale Price Index - the first estimates based on a new method of calculation - showed a 1.4 per cent decline in the prices of Housing and Development Board flats over the previous quarter, the HDB announced on Friday (Jan 2). The newly-adopted Stratified Hedonic Regression method "will control for variations in flat attributes of the resale flats transacted, thus...
Six in 10 existing owners of 900,000 Housing and Development Board (HDB) flats in Singapore continue to live in their first flat, which is "remarkably high", said National Development Minister Khaw Boon Wan in a blogpost on Wednesday (Dec 31). Of the 26 HDB towns and estates, Tanjong Pagar/Chinatown/Bugis had the highest percentage of owners still living in their first flat, at 77 per cent. Other high...
Prices for Housing and Development Board (HDB) flats have been moderating and the market shifting from a seller's to a buyer's market in 2014, but the shift is not yet complete, National Development Minister Khaw Boon Wan wrote on his blogpost on Monday (Dec 29). Mr Khaw wrote: "The shift is not yet complete and 2015 should see greater stability. We are scaling down the pace of construction but remain...
Property prices in the Republic have been moderating and National Development Minister Khaw Boon Wan expects this to continue into 2015. He was speaking to reporters after witnessing the handover of a completed Build-To-Order (BTO) project at Punggol on Monday (Dec 29). The event also marked the completion of 28,000 new flats this year - a record in recent years. The minister outlined his ministry's...
The Housing and Development Board (HDB) saw its deficit in the last financial year more than double to S$1.973 billion as it stepped up the building of homes. According to HDB’s annual report, its overall net deficit for the last financial year – from April 2013 to March 2014 – was S$1.973 billion before Government grants, up from S$797 million the previous year. Its home ownership segment...