LICENSED moneylenders who exploit HDB resellers are advised to curb their activities: The Ministry for National Development (MND) is keeping a close watch on you. In Parliament yesterday, National Development Minister Mah Bow Tan said: "HDB flats are not meant for short-term profit-taking. They are not meant to be used as collateral for loans, whether to legal or illegal moneylenders." He was referring...
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The Housing & Development Board (HDB) will make available a state land parcel in Pasir Ris for application under the Reserve List of the Government Land Sales (GLS) Programme from Wednesday. The site is located at the junction of Pasir Ris Drive 3 and Pasir Ris Drive 4. The 20,000 square metre, 99-year leasehold site is designated for condominium housing. HDB said some 380 residential units can be...
THE Government has no plans to tweak policies for first-time home buyers, National Development Minister Mah Bow Tan said yesterday. In response to a question from MP Lim Wee Kiak (Sembawang GRC), who asked if the Government would encourage more first-time buyers to buy resale flats, Mr Mah said: "The most important point is whether we have enough flats overall for first-timers to purchase, whether new or...
Buyers of new HDB flats may be able to get their keys more quickly. The Housing & Development Board is looking at how to shorten the wait, from three years to two or two-and-a-half years. National Development Minister Mah Bow Tan said the HDB will consider building new flats before selling them, especially in cases where the subscription rate is high. He also stressed that new HDB flats remain...
ONE easy way to make Cash Over Valuation (COV) more transparent for all resale flat buyers and sellers is for the Housing and Development Board (HDB) to provide better statistics. Currently, the only statistic given by HDB is the median COV. However, any student of statistics would tell you that a median value without a reported range is almost useless. Perhaps HDB can learn from the three public...
Rising cash-over-valuations (COV) have been the gripe of home-hunters, but some have gotten lucky in Queenstown. Between January and March, the median COV for executive flats there was a negative $6,000, meaning a buyer paid below valuation - a far cry from the $50,000 median COV for the same flat type in the same area, in the preceding quarter. But the first-quarter median COV for executive flats in Toa...
HDB resale prices have hit a fresh record in the first quarter of this year rising by 2.8 per cent compared with the previous quarter. But the latest figures show signs of a market that's finally stabilising after months of runaway prices. Some analysts expect demand to continue to rise in the next few months but said cash premiums are unlikely to go much higher than the current median of S$25,000. The...
The number of subletting transactions grew by 69 per cent to 6,600 in the first quarter. More HDB flats were also approved for subletting - from 24,300 in the previous quarter to 27,300. HDB attributed the increase to more renewal cases, greater demand and public awareness of need to seek HDB authorisation to sublet entire flats. Subletting cases have spiked since rules were relaxed in 2005, with...
Data released by the Housing and Development Board (HDB) showed that its resale price index in the first quarter this year stood at 155. That's an increase of 2.8 per cent over the previous quarter, slightly higher than HDB's preliminary forecast of a 2.7 per cent rise. In the last quarter of 2009, the resale price index came in at a record high of 150.8. Also, the median Cash-Over-Valuation (COV)...
I REFER to Mr Chan Mia Lee's letter, 'Why the delay in upgrading opposition ward?' (April 8), and would like to highlight that the lift upgrading projects in Potong Pasir and Hougang are on track. Blocks 101 to 109 in Potong Pasir Avenue 1, and Blocks 351, 352, and 354 to 357 in Hougang Avenue 7 were announced for the Lift Upgrading Programme (LUP) last October. As with all LUP projects, the HDB...