Bidadari is expected to be the most popular of the three recently announced housing areas among home buyers due to the area’s convenient location. Property analysts compared the area with Punggol Matilda and Tampines North and said that Bidadari’s city-fringed location and proximity to two MRT stations will work in its favour, especially among younger people. The experts said that even its...
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In light of the new rules announced on Tuesday by the Housing and Development Board, some market watchers are once again suggesting that it would not be long before HDB resale prices start to correct, beginning with the larger flats. Permanent residents will now have to wait three years after receiving their PR status to buy a resale HDB flat, softening demand from this group of buyers, who presently...
Three new housing areas will be launched over the next few years, offering 40,000 new homes in all. They are Punggol Matilda, Tampines North and the new centrally-located estate of Bidadari. Homebuyers will be able to apply for units as soon as September -- when some 500 units at Punggol Matilda are launched by the HDB. From waterfront living at Punggol Matilda, to a boulevard park at Tampines North,...
The new Three-Generation (3Gen) flats provide a good option for multi-generation families to live together but living as an extended family may give rise to conflict, experts said. Aris Lee is a potential 3Gen homebuyer who currently lives in a four-room flat with her husband, four children, her mother and a domestic helper. Ms Lee and her family are looking forward to more living space as they hope...
The government has introduced further measures to stabilise the HDB resale market. The maximum tenure for HDB housing loans will be reduced from 30 years to 25 years. It's aimed at ensuring financial prudence in the purchase of public housing and discourage over-consumption. The Mortgage Servicing Ratio will also be reduced from 35 per cent to 30 per cent of the borrower's gross monthly...
More people are selling their Housing and Development Board (HDB) flats in the resale market without a cash premium. The Singapore Real Estate Exchange (SRX) said transactions involving zero Cash-Over-Valuation (COV) have more than tripled, from 14 in January to 49 in July. The overall median COV dipped to a low of S$20,000 in July, the lowest since 2011. SRX now said it is seeing more people...
Some home buyers Channel NewsAsia spoke with have suggested that the new housing grants announced at Sunday's National Day Rally be extended to those buying from the resale market as well. Home buyers welcomed in particular the extension of the existing Special Housing Grant, which provides up to S$20,000. The grant will soon include not just two and three room flats, but four-room flats as well. The...
Buyers snapped up 76 per cent of the units at City Developments' (CDL) new executive condominium (EC), Lush Acres, over the weekend. CDL said the 380-unit EC project opened for booking on Saturday and 289 units were sold over the weekend. About 37 per cent were eligible first-time buyers. Located in Sengkang, the project consists of three- to five-bedroom apartments of sizes between 915 square...
The government will make sure every Singaporean family who is working can afford a home, said Prime Minister Lee Hsien Loong in his National Day Rally Speech on Sunday. Giving the assurance, he announced new Step-Up Housing Grants and the extension of the current Special Housing Grant to help more low- and middle-income households. "I believe home ownership is still a fundamental principle for...
The much-awaited launch of the Build-To-Order (BTO) two-room Housing and Development Board (HDB) flats for singles saw about 58 applicants vying for each available unit by the close of offer last Monday. In his blog, National Development Minister Khaw Boon Wan said this had silenced the sceptics as the market response was not lukewarm at all. A more apt description of the response would be “sizzling...