Starting April next year, elderly flat owners keen to take up the Lease Buyback Scheme will have the flexibility to choose the length of lease they want to retain, depending on their age and preferences, instead of being limited to a standard 30-year lease currently. Those aged 70 to 74 will have the option of a 25-year lease, while those aged 75 to 79 will have the option of a 20-year lease, and those...
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The government is looking at introducing greater flexibility to the Lease Buyback Scheme, and this could include extending or shortening the number of years of flat leases participants of the scheme can retain. National Development Minister and MP for Sembawang GRC, Mr Khaw Boon Wan said this during his constituency's post-National Day Rally dialogue on Sunday morning (Aug 31). Currently, seniors on the...
It has been about a year since a new housing policy allowed singles to buy two-room flats directly from the HDB. Since then, more than 5,200 two-room flats in non-mature estates have been put up for sale, and 2,765 units have been sold under the scheme, with about 560 successful applicants collecting their keys so far. This exceeds the 1,550 units set aside for singles. These include applications under...
About 293,000 HDB flats in Singapore are owned by residents aged 55 and older and 72 per cent of these flats are three- and four-room units. This means these seniors have the option to sublet or 'right size' to monetise their flat. Selling part of their leaseback to the HDB is another option - for those who have met their CPF drawdown age, which is currently at 63. Madam Han Siew Lan, 65, has been...
"Last year, I was your real estate agent. This year, the real estate market is no good, I have upgraded myself, I have become a financial planner," quipped Prime Minister Lee as he spoke on retirement adequacy for Singaporeans in his National Day Rally on Sunday (Aug 17). Mr Lee says Singapore has good schemes to provide assurance in retirement - namely through the Central Provident Fund (CPF) and home...
Homeowners can look forward to more protection against errant contractors who fail to honour contractual agreements and unsatisfactory services. This is after the Consumers Association of Singapore (CASE) and the Singapore Renovation Contractors and Material Suppliers Association (RCMA) announced they would jointly develop a voluntary CaseTrust-RCMA accreditation scheme for the renovation...
Prices of HDB resale flats have continued to fall for the sixth straight month, dipping 0.9 per cent in July compared to June. That is also a 29-month low since February 2012. This is according to the Singapore Real Estate Exchange (SRX), which released its monthly flash report on Thursday (Aug 7). As for resale volume, SRX data showed there was a slight month-on-month increase, with about 1,341 HDB...
The resale prices of Housing and Development Board (HDB) flats continue its downward spiral in July, slipping 0.9 per cent from June to mark a 29-month low since Febuary 2012, the Singapore Real Estate Exchange (SRX) said on Thursday (Aug 7). Prices for 3-, 4-, and 5-room flats declined by 1 per cent, 1.8 per cent and 0.4 per cent, respectively, last month, but executive flats saw a slight 0.1 per cent...
While the cooling measures and loan restrictions have dampened sentiment in various segments of Singapore’s property market, leasing demand for public housing has held up relatively well, with an increase in transactions in the first two quarters this year helping to keep rental rates fairly steady. This trend continues even as data by the Housing and Development Board (HDB) and Urban Redevelopment...
Prices have continued to fall in the private home and HDB resale markets in the second quarter of this year. But more units were sold in both markets, according to the Housing Development Board (HDB) and the Urban Redevelopment Authority (URA). This is the fourth consecutive quarter that HDB resale prices have fallen. Despite that, more transactions were made with about 4,389 resale flats sold. This is...