Lake Life, the second executive condominium (EC) project to go on the market this year, has 546 units on offer. But it has already received more than 1,200 e-applications after just three days of opening. Lake Life is located in the Jurong Lake District. Units there are expected to go at around S$880 to S$890 per square foot. The project is being developed by a consortium led by Singapore property...
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The Housing Development Board (HDB) is studying two possible solutions to bring direct lift access to more households. This was announced in a written reply by the Ministry of National Development (MND), in response to questions from MP for Hougang, Mr Png Eng Huat, on Tuesday (Oct 7). Mr Png had asked for an update on the new technology and solutions in place to provide direct lift access to those not...
Between January 2013 and June 2014, a total of 1,312 households were granted an HDB loan, even though they had already taken two HDB loans previously. They were among the 25,000 households who were granted mortgage loans during that period. The National Development Ministry said households who were granted more than two loans are exceptions to the rule, and HDB evaluates such requests on a case-by-case...
Prices of resale flats fell by 1.6 per cent on-quarter in the third quarter of 2014, according to flash estimates from the Housing and Development Board. HDB on Wednesday (Oct 1) announced that its flash estimate of the 3rd Quarter 2014 Resale Price Index (RPI) is 192.5, a decline of 1.6 per cent over the previous three months. The RPI for the full quarter and more detailed public housing data will...
A land parcel at Sembawang Road and Canberra Link for an executive condominium (EC) development has received only two bids at the close of tender on Tuesday (Sep 30). The Housing and Development Board (HDB) said Qingjian Realty (Residential) placed the highest bid of S$229.38 million, equivalent to about S$353 per square foot per plot ratio, while the other offer came from the combined bid of S$208.5...
Bellewoods, the first new executive condominium project in almost a year, opened for online applications on Saturday (Sep 27). The hiatus was because a new rule by the government last year requires developers to wait for 15 months after buying the land or completing foundation works before launching units for sale. More than 200 applications have so far been received for the project in Woodlands. The...
Existing flat owners who “right-size” to a new two- or three-room flat in a non-mature town or estate can now choose to pay a lower downpayment upfront, the Housing and Development Board (HDB) said on Wednesday (Sep 24). This new staggered downpayment arrangement takes effect from the latest Build-to-Order (BTO) exercise, which began on Wednesday. Flat owners who are not taking up a loan or who...
Developers of executive condominiums (ECs) had been enjoying roaring business, up until measures introduced by the Government last year curbed demand and eased the pace of new project launches. The measures included a rule that restricts developers from selling units until 15 months from the award of the sites or after foundation works are completed. In addition, the Mortgage Servicing Ratio (MSR) for...
A "Smart HDB Town Framework", which maps out how the Housing and Development Board (HDB) aims to introduce the "smart" element in HDB towns and estates, was announced on Thursday (Sep 11). In a press release, HDB CEO Dr Cheong Koon Hean said that HDB's "next exciting step" is to embark on the development of the Smart HDB Town. "We want to leverage on Information and Communications Technology (ICT) to...
In the past month, 176 flat sellers have requested for a temporary extension of stay in their flats, an arrangement which allows them to stay in their former homes for up to three months. The Housing and Development Board (HDB) introduced this practice in July, which is intended to help sellers who are transiting to their new homes, such as those who may need more time for renovation or those awaiting...