Balloting rules for Build-To-Order (BTO) flats are expected to be changed soon to better cater to second-time buyers. Analysts said this move will help to cool the demand in the resale market. The changes will also not lead to an oversupply of flats as demand is still strong. Currently, only 5 per cent of BTO flats are allocated to second-time buyers, and analysts believe that the rate could go up to...
hdb news
The number of Housing & Development Board (HDB) flats being sublet has more than tripled in the past five years. The reasons include the relaxation of subletting rules, and an increase in foreigners. With more HDB home-owners using their flats to earn rental income, some analysts are concerned this will lead to a shortage of supply in the resale market. The number of HDB flats on the rental market...
National Development Minister Khaw Boon Wan has released data on the extent of Cash Over Valuation (COV) paid by different buyer groups. Writing in his blog, under the heading "Who Bids High?", Mr Khaw revealed that private property owners paid the highest median COV of S$45,000 in the last quarter of 2011. The next highest was S$34,000 in median COV paid by second-timers. First-timers paid S$33,000,...
Housing residents in an HDB flat within an HDB community, with access to HDB estate facilities is preferred over dormitory-type temporary housing. The latter may not be suitable for family-based households. National Development Minister Khaw Boon Wan said this in a written parliamentary reply, in response to Chua Chu Kang GRC MP Zaqy Mohamad. Mr Zaqy had asked if the government will consider easing the...
National Development Minister Khaw Boon Wan has said his ministry can now move on to better help second-time flat buyers. This comes as first-timers enjoyed a 1.5 application rate for the last Build-To-Order (BTO) launch in January. This means practically all will get a chance to choose a unit. This is similar to the rate of 1.6 in the November BTO. Mr Khaw announced this on his blog on Tuesday. The...
National Development Minister Khaw Boon Wan said HDB studio apartments do not fit the housing needs of younger singles. He said these apartments are sold with a short 30-year lease which is appropriate for retirees but not necessarily for younger people. Mr Khaw said this in response to a question from MP Dr Intan Azura Mokhtar. She had asked if his ministry will consider allowing singles who are 55...
National Development Minister Khaw Boon Wan has said imposing an income ceiling for resale flats will deprive flat owners of the full market value of their flats. He was answering a question in Parliament on Monday on whether the ministry would consider limiting the sale of 3-room or smaller flats to lower income Singaporeans. Chua Chu Kang GRC MP Zaqy Mohamad noted that the Cash-Over-Valuation (COV) for...
The Housing and Development Board (HDB) will set aside another S$11 million to help 3,300 shops in 35 sites enhance their business vibrancy and competitiveness. This is as part of its fourth batch of the Revitalisation of Shops (ROS) scheme. HDB will also extend its co-funding portion for promotional events from the current three years to six years, in response to requests from the Merchant Associations...
The Housing and Development Board (HDB) launched five Build-To-Order (BTO) projects on Wednesday. The BTO launch, the first this year, offers 3,923 new flats in Choa Chu Kang, Punggol, Sengkang and Tampines. And a further 4,110 new flats will be offered for sale in the next BTO launch in March, in Bedok, Bukit Batok, Bukit Panjang, Bukit Timah, Clementi, Geylang and Toa Payoh. In total, HDB plans to...
There's been a strong take-up rate for the latest executive condominium (EC) project at Choa Chu Kang. Some 150 units of The Rainforest were sold on the first day of booking. The latest 466-unit development offer units priced from S$601,000 to S$1.01 million. The Rainforest also saw strong demand from second-time buyers. Only five per cent of the project is allocated to second-timers buyers, and the...