The first housing projects at Bidadari and Tampines North will yield more than 2,500 units, and residents can look forward to more greenery, open spaces and seamless connectivity to transportation networks, the Housing and Development Board (HDB) announced on Tuesday (Sep 9). Development plans for the two areas were first announced last year. The first public housing project for Bidadari, a former...
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The Housing Development Board (HDB) allowed 1,800 applicants to sublet their flats within the Minimum Occupation Period (MOP) in 2012 and 2013. This is about three per cent of the 57,200 flat owners who gained approval over the two years. In a written reply to a question posed in Parliament on Monday (Sep 8), Minister for National Development Khaw Boon Wan said that these flat owners were unable to...
Under the Lease Buyback Scheme (LBS), the value of the flat’s lease is determined from the market value of the flat, based on industry-accepted standards and valuation practice, Minister for National Development Khaw Boon Wan said in Parliament on Monday (Sep 8). Responding to a question from MP Foo Mee Har, who asked how HDB determines the value of the lease under the scheme, Mr Khaw said: “The...
A land parcel for executive condominium (EC) development at Choa Chu Kang Drive attracted eight bids at the close of its tender on Thursday (Sep 4). The Housing and Development Board (HDB) announced that Sim Lian Land Pte Ltd submitted the highest bid of S$207.4 million. This translates to a unit price of about S$361 per square foot per plot ratio (psf ppr). The second-highest bid was about 2.2 per...
Resale prices for Housing and Development Board (HDB) flats fell for a seventh straight month, slipping 1.1 per cent month-on-month in August - marking a 31-month low since January 2012, according to the Singapore Real Estate Exchange (SRX). According to the SRX HDB flash report released on Thursday (Sep 4), June's HDB resale prices dropped 7.1 per cent year-on-year in August. Compared to the peak...
Starting April next year, elderly flat owners keen to take up the Lease Buyback Scheme will have the flexibility to choose the length of lease they want to retain, depending on their age and preferences, instead of being limited to a standard 30-year lease currently. Those aged 70 to 74 will have the option of a 25-year lease, while those aged 75 to 79 will have the option of a 20-year lease, and those...
The government is looking at introducing greater flexibility to the Lease Buyback Scheme, and this could include extending or shortening the number of years of flat leases participants of the scheme can retain. National Development Minister and MP for Sembawang GRC, Mr Khaw Boon Wan said this during his constituency's post-National Day Rally dialogue on Sunday morning (Aug 31). Currently, seniors on the...
It has been about a year since a new housing policy allowed singles to buy two-room flats directly from the HDB. Since then, more than 5,200 two-room flats in non-mature estates have been put up for sale, and 2,765 units have been sold under the scheme, with about 560 successful applicants collecting their keys so far. This exceeds the 1,550 units set aside for singles. These include applications under...
About 293,000 HDB flats in Singapore are owned by residents aged 55 and older and 72 per cent of these flats are three- and four-room units. This means these seniors have the option to sublet or 'right size' to monetise their flat. Selling part of their leaseback to the HDB is another option - for those who have met their CPF drawdown age, which is currently at 63. Madam Han Siew Lan, 65, has been...
"Last year, I was your real estate agent. This year, the real estate market is no good, I have upgraded myself, I have become a financial planner," quipped Prime Minister Lee as he spoke on retirement adequacy for Singaporeans in his National Day Rally on Sunday (Aug 17). Mr Lee says Singapore has good schemes to provide assurance in retirement - namely through the Central Provident Fund (CPF) and home...