Some housing analysts said the property market has slowed since the government announced its seventh round of cooling measures on Friday. One analyst said the Cash-Over-Valuation (COV) for larger public housing resale flats could come down by about 30 per cent in coming weeks. The median cash premium for a five-room or executive flat has hovered around S$40,000 to S$50,000. But with tighter Mortgage...
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National Development Minister Khaw Boon Wan said the government will continue to be vigilant of any abuse of the Executive Condominium (EC) housing scheme, and defended the scheme as still being relevant. He was responding to questions raised in Parliament on the affordability of ECs. He said: "It is a wonderful scheme. It protects middle-income Singaporeans from competition and ensures a market-friendly...
s part of the cooling measures for the property market, limits have been set for granting of HDB loans and the use of CPF funds for the purchase of public housing with remaining leases of less than 60 years. They will take effect on 1 July 2013. If the remaining lease of the HDB flat is between 30 and 59 years, the use of CPF funds is allowed, except for buyers for whom the remaining lease cannot cover...
Property analysts expect resale prices of public housing flats to remain high this year, after trending up by 2.5 per cent in the fourth quarter of 2012. But they said prices could start to weaken in 2014 to 2016 as over 8,000 units of resale flats could be available in the market. G.Sharmene and her family are expecting to move into their new executive condominium (EC) unit at Austville Residences early...
The average number of penthouse units in executive condominium (EC) projects has climbed slightly in the past year, according to market watchers. The sale of a luxury penthouse recently has triggered a debate over the role of ECs. Some analysts have told Channel NewsAsia that while ECs are still relevant, some rules could be tweaked. ECs were introduced in 1995 and its objective is to provide...
Property developer Hao Yuan Investment has admitted that the botched proposed sale of its Forestville executive condominium (EC) was due to "some technical issue." In a statement on Wednesday, Hao Yuan said it acknowledged that "there were some technical issues with regards to Forestville Executive Condominium." It added that its "architects are working closely with the relevant authorities to resolve...
Resale prices for HDB flats reached another record high in the fourth quarter of 2012. Flash estimates showed HDB's Resale Price Index rose by 2.5 per cent over the previous quarter. This is the largest growth for 2012 and since the third quarter of 2011, where growth was 3.8 per cent. This brings the total growth for last year to 6.6 per cent, down from the double digit growth of 10.7 per cent in 2011,...
Authorities have announced plans to raise the cash bonuses of two housing monetisation schemes for the elderly in response to public feedback. The latest changes to the Silver Housing Bonus (SHB) and Lease Buyback Scheme (LBS) will see households having to put less of their flat's sale proceeds into their Central Provident Fund (CPF) accounts - a national pension scheme. They will in return receive more...
Property consultancy firm Colliers International has recommended the development of a "retirement village" for the growing population of senior citizens in Singapore. It has also suggested that a ratio/quota system be implemented to allocate Build-to-Order (BTO) flats to singles. Colliers said these are two groups within the larger population that have become significantly prominent over the last 12...
Forestville, the latest executive condominium (EC) project at Woodlands, has seen strong demand from eligible home buyers since electronic applications opened on December 21. Close to 800 e-applications have been received over the weekend for the 653-unit Forestville EC project. The e-applications will be open until 10pm on December 26. Balloting will be carried out on 28 December. Hao Yuan Investment...