Plans are under way to allow singles to buy new flats directly from the HDB in the future. Some analysts estimate that if the new policy is implemented, half the number of singles buyers in the resale flat market will move to Build-To-Order (BTO) flats. Analysts say this will cool the resale flat market, but only in two or three years' time when the BTO flats are completed. Latest data from local...
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Minister for National Development Khaw Boon Wan on Saturday assured singles that he is looking into their housing concerns. Mr Khaw, however, adds that he needs some time as his current focus is on the immediate needs of the second-time flat applicants, until they are largely addressed next year. The minister also wants to have a better handle over the likely additional demand on new HDB flats when the...
The cash-over-valuation (COV) component in HDB resale transactions is rising and it could hit over S$200,000 soon. COV refers to the sum of cash that needs to be paid by a buyer over and above the market valuation of a flat. Real estate agents said the median COV paid for HDB resale flats has risen by about 12 percent to S$30,000 in the third quarter so far. But for a Bishan unit, the COV has hit a...
A Housing and Development Board (HDB) executive maisonette in Bishan has been sold at a whopping price of S$980,000 or S$550 psf, a new record for the costliest HDB resale flat. Sold by a Singaporean woman, the unit was bought by a Singaporean and her China national father, reported The Straits Times. The sale price of S$980,000 is inclusive of S$200,000 in cash-over-valuation (COV), reportedly the...
The Housing and Development Board (HDB) tender for the land parcel at Punggol Way/Punggol Walk for Executive Condominium Housing Development has attracted three bids at the close on Tuesday. The top bid came from Qingjian Realty (South Pacific) Group Pte Ltd at S$189.87 million or $3,375.86 per square metre. This works out to S$314 per square foot per plot ratio. The top bid was just 1 percent higher...
The Housing and Development Board (HDB) on Wednesday won the Global Superior Achievement Award for the Punggol Waterway project. The waterway was lauded for its innovation, green practices and novel technologies. The award is the highest honour conferred by the International Water Association for the most outstanding project in all categories. It is also the first time an Asian country has clinched the...
National Development Minister Khaw Boon Wan said the 50-year mortgage bank loans that are available now are not likely to have significant impact on the public housing market. In a written reply to a question by Member of Parliament Chen Show Mao, Mr Khaw added that while some borrowers may be attracted by the lower monthly instalments, the ministry does not expect 50-year housing loans to be popular. Mr...
The Housing & Development Board (HDB) has said it will take all measures to minimise inconvenience to residents while building new Build-To-Order (BTO) flats. Some residents in Ang Mo Kio have said they are upset that the government is launching a BTO project less than 50 metres away from their flat. HDB said it is not uncommon for HDB blocks or private apartments to be built within 50 metres from...
The Government's aggressive ramping up of the supply of Build-to-Order (BTO) flats has got at least one group of residents unhappy. At Ang Mo Kio St 52, some residents of a Design, Build and Sell Scheme (DBSS) project are upset over plans to build a BTO project less than 50 metres from their development. The new 710-unit BTO project is expected to be launched next month and the concerns of some of the...
Even as the government shifts its focus on meeting the housing needs of second-timers, the number of such applicants has crept up - after a sharp downward trend in recent months - based on figures from the latest Build-to-Order (BTO) exercise. Application for the 4,200 units on offer closed yesterday. As at 5pm on Monday, the application rate of second-timers -- who are mostly upgraders, according to...