BUYERS are chasing Housing Board resale prices relentlessly as if they are freehold properties. For instance, five-room flats in Marine Parade, with less than 65 years of lease left, are changing hands at $700,000 each or more. If these prices are averaged out over 99 years to compare with new apartments with 99-year leases, it would put the valuation of such units at more than $1 million. Is the price...
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Real estate agents say executive condominiums (ECs) have become more popular. They are the next best thing for those who are priced out of the private condominium market, where prices have been hitting new highs recently. Property agents said that in the last two to three years, the price of each square foot has increased by about 70 per cent. In the first quarter of this year, the resale value of each...
Since the beginning of this year, the Housing and Development Board (HDB) has started taking action to re-possess three flats for unauthorised subletting. The flat owners had rented out their entire units without fulfilling a minimum occupation period. The housing board stressed that HDB flats are meant for owners to live in not for speculative purposes. A routine inspection in Bukit Batok uncovered...
SUPERMARKET chain Sheng Siong will not be allowed to convert the six wet markets it recently bought for other uses - even if all the stallholders move out. The Housing Board said in a statement yesterday that there is still demand for wet markets and it will ensure the needs of residents are met. The statement comes in the wake of a 30 per cent rental hike Sheng Siong imposed in five of the wet markets...
IT HAS been the practice and requirement that an HDB valuation report is obtained for the sale of an HDB flat. Most buyers are not aware that they do not have to pay for it. The sellers or their property agents have commonly pushed this cost to the buyers. It is neither an HDB policy nor guideline that the buyer must bear the cost of the valuation report. It is entirely between the seller and the buyer...
IN the light of concerns about the recent rent hike at five of Sheng Siong Properties' wet markets, the Housing & Development Board (HDB) has clarified its position on the issue. HDB says the five wet markets in question were purchased by Sheng Siong from Heeton Holdings on Jan 4. In approving the sale, HDB says it specified that the properties must continue to be operated as wet markets and made...
According to an HDB survey, over 98 per cent of residents said they developed a sense of belonging to their estate. Neighbourliness is also strong amongst those polled. Over 94 per cent said they do have casual conversations with neighbours. This is an improvement from the 82 per cent seen in the last survey. While most neighbours are comfortable with exchanging a greeting or two, the comfort level...
The Housing and Development Board (HDB) has assured residents that it will ensure that their marketing needs are met in the wake of the recent rent hike at five wet markets operated by Sheng Siong. The HDB said it has received feedback from local advisors and residents, expressing concerns over the rent hike. HDB said: "Besides these wet markets, there are also other markets and supermarkets...
WITH prices of public housing busting records in recent months and concerns escalating over supply and affordability, the man overseeing Singapore's red-hot property market has found himself in the hot seat. But the ever unflappable National Development Minister refuses to be unnerved by the emotionally charged debate now playing out online and in newspaper forums. Rather, in his first full interview...
THE Government is concerned about home owners cashing out from their flats prematurely and is considering ways to discourage them from doing so, said National Development Minister Mah Bow Tan. The review comes amid concerns over a growing number of home owners who sell their Housing Board (HDB) flats to pay off debts or buy luxury items - and then return to the HDB to seek help with housing. Mr Mah told...