The Housing and Development Board (HDB) will launch 16,900 new Build-To-Order (BTO) flats next year – down from 22,400 units in 2014 – but supply will be “adequate” given that an estimated 15,000 Singaporean families are formed each year, the Ministry of National Development (MND) said in a written Parliamentary reply on Tuesday (Nov 4). The new flats will include about 4,000 two-room flats to...
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It is not necessary for the Housing and Development Board (HDB) to sell new flats with a 70-year lease alongside 99-year flats, as there is unlikely to be "strong demand" for the proposed option, said National Development Minister Khaw Boon Wan on Monday (Nov 3). Mr Khaw said there are two reasons for this assessment: Firstly, the upfront cost HDB has to incur to offer a 70-year lease option is the same...
Young couples will get more help in setting up their first home, with several enhancements to the Parenthood Provisional Housing Scheme (PPHS), the Housing and Development Board (HDB) announced on Friday (Oct 31). Under the scheme, couples and families have the option of renting an HDB flat while waiting for their new Build-To-Order (BTO) flat to be ready. The number of flats in the scheme will be...
Within three weeks of changes being announced to the Lease Buyback Scheme on Sep 3, the Housing and Development Board (HDB) received 500 queries, almost thrice the number they receive in a typical month. The Lease Buyback Scheme allows eligible seniors to retain part of the lease on their HDB flat, and sell the remainder back to HDB for retirement income. HDB says it has about 250 officers who are able...
Prices of resale flats fell by 1.7 per cent on-quarter in the third quarter of 2014, while the number of resale transactions rose 2.8 per cent, according to the Housing and Development Board (HDB). HDB on Friday (Oct 24) announced that the Resale Price Index (RPI) fell from 195.7 in the second quarter to 192.4 in the third quarter. Resale transactions increased from 4,389 cases in the second quarter to...
On Monday (Oct 20), National Development Minister Khaw Boon Wan said that there will be a 25 per cent drop in the number of Build-to-Order (BTO) flats launched next year. However, real estate analysts believe that a lower number of BTO flats next year will not have a significant impact on the resale market. Analysts Channel NewsAsia spoke to said that while first-time home buyers may consider resale...
The Government will be reducing the housing supply next year, to prevent a glut in the market. On Monday (Oct 20), National Development Minister Khaw Boon Wan said the number of Build-to-Order (BTO) flats to be launched next year will be reduced by 25 per cent. This means a BTO programme of about 16,000 units next year, a drop from this year's 22,400 units. The number of sites released under the...
The resale prices of Housing and Development Board (HDB) flats continued their downward spiral in September, slipping 0.5 per cent from August – the eighth consecutive month that prices have declined, the Singapore Real Estate Exchange (SRX) said on Thursday (Aug 7). Prices for three- and four-room flats declined by 0.2 per cent, while prices for five-room flats fell 1.6 per cent. In comparison,...
Some developers say they will hold back on bidding for new executive condominium (EC) sites in the future unless they have very good potential, as the risk profile of ECs has gone up following a series of new restrictions imposed by the Government. According to Evia Real Estate, which is jointly developing the Lake Life EC in Jurong, the segment now poses higher risks to developers. Mr Vincent Ong,...
Family members who wish to buy the tail end of the lease sold to the Housing Development Board (HDB) as part of the Lease Buyback Scheme (LBS) upon the death of their parents are able to do so - depending on their eligibility to buy a HDB flat, said Minister of National Development Khaw Boon Wan in Parliament on Tuesday (Oct 7). He said this in response to a question by Aljunied GRC MP Chen Show Mao,...