National Development Minister Khaw Boon Wan says the government is open to raising the income ceiling to allow more singles to buy new HDB flats. But this will depend on how manageable application rates are for the new scheme, which was announced on Friday during the Committee of Supply debate for the Ministry for National Development. Singaporeans aged 35 and above, who are singles and earn up to...
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Potential home owners may not be in a rush to exercise their options in the housing schemes announced in Parliament. Although they welcomed the schemes, they said everything depends on their individual circumstances. When Yoko Lee divorced in 2010, he was barred from buying a flat until five years later. Mr Lee and his 12-year-old daughter had little choice but to find other housing options. They stayed...
Deputy Chair of the National Development Government Parliamentary Committee, Liang Eng Hwa said it's probably time for HDB to go back to the drawing board and examine the issue of affordability. Both he and at least one property analyst are waiting for more details of the new housing schemes announced in Parliament on Friday. More help for first time married couples and singles to meet their housing...
A scheme that gives priority allocation for new HDB flats to first-timer married couples with a citizen child below the age of 16, will be extended to pregnant mothers from May this year. The Parenthood Priority Scheme will also be extended to couples who are married but without children, sometime next year. National Development Minister Khaw Boon Wan, who announced the new housing measures in Parliament...
More five-room resale flats have been sold above the S$900,000-mark, especially in estates like Redhill, Queenstown, Toa Payoh and Marine Parade. A 10-year-old flat measuring 1,184 square feet at Block 23 Jalan Membina, near Tiong Bahru MRT station, was sold for S$945,000. This means that its price of S$800 per square foot is similar to suburban executive condominiums but half the price of private...
Housing undersupply could become a thing of the past as the government has pledged enough HDB flats for all Singaporeans, even as the population is projected to reach 6.5 to 6.9 million by 2030. In Parliament yesterday, National Development Minister Khaw Boon Wan stated that about 200,000 new units are currently being built and will likely be ready in four years. “We will continue to launch more BTO...
National Development Minister Khaw Boon Wan said the core principle behind the pricing of new HDB flats remains affordability. Replying to questions in Parliament on Tuesday, he said the prices of new HDB flats are set based on the typical household income of families, the market price of similar resale flats in the vicinity, and the flat size and location. Mr Khaw said HDB applies a substantial price...
About S$22 million in resale levies are paid to the Housing and Development Board every year. National Development Minister Khaw Boon Wan said HDB receives close to 3,000 appeals to waive or reduce the levy every year. Several Members of Parliament rose to ask if help can be extended to those who have problems paying the levy. Member of Parliament for Aljunied GRC Pritam Singh asked if the ministry...
Application rates for first-timers rose marginally in the latest Build-To-Order flats sales exercise, the first BTO offering this year. Applications close at midnight but overall as of 5pm, there were 2.2 first-timers applying for each new unit. This is higher than the 1.8 in the previous exercise in November last year. It is also the first time since March last year that the application rate for...
Some Executive Condominium (EC) developers have seen higher sales despite the government introducing a package of cooling measures on January 12. EC projects like One Canberra and Watercolours, which were launched last year, have seen sales jumped by about five times after the measures kicked in. In the two weekends after the new measures kicked in, One Canberra sold 30 units, up from two to three units...