Analysts have attributed rising Executive Condominium (EC) prices to strong demand and rising quality of EC projects. Prices for ECs have risen by 10 to 20 per cent in the last two years, since the government re-introduced them to increase the supply of flats for middle-income home buyers. "We all recognise that Singaporeans are getting affluent and especially the young, they read a lot and they see a...
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Large flats in mature estates have proven to be the most popular among home buyers in the November Build-To-Order (BTO) exercise. In the last BTO exercise for the year, there were three first-time buyers for each four-room flat in Toa Payoh. The same goes for five-room flats in Bedok. In Bedok's Fengshan GreenVille, there were 3.8 first-time buyers and 51.6 second-time buyers for each five-room...
DB's My Waterway@Punggol project has won an international gold award. It clinched the honour under the Project Built section in the 2012 International Award for Liveable Communities conferred by the LivCom Management Company. The award recognizes International Best Practices in the management of the local environment and is endorsed by the United Nations Environment Programme (UNEP). My Waterway@Punggol...
All one- and two-room owner-occupiers of HDB homes do not need to pay property tax in 2013, similar to 2012. For a majority of other HDB flat types, the property tax bill for 2013 will increase by between S$40 and $50, after taking into account a new S$40 rebate. The increase in property tax comes after the revision of Annual Values (AVs) of HDB flats with effect from 1 January 2013, reflecting the rise...
During a "Our Singapore Conversation" dialogue session, national development minister Khaw Boon Wan said Singapore has the ability and resources to meet the demand for more HDB flats. Housing was one of the hot issues at the dialogue at Sembawang Group Representation Constituency (GRC). The question posed at the session was: what kind of Singapore would you like to have in 2030? More than 300 residents...
National Development Minister Khaw Boon Wan has urged developers of Executive Condominiums (ECs) to be mindful about the intent and spirit of the EC policy. This follows recent media reports of an EC penthouse sold for $1.77 million. In his latest blog post, Mr Khaw said EC developers have flexibility in designing and pricing their units. But he stressed the policy intent of the EC - which is to help...
HDB launched seven Build-To-Order (BTO) projects on Wednesday, offering 6,463 new flats in two non-mature towns (Choa Chu Kang and Sengkang) and three mature towns (Bedok, Queenstown and Toa Payoh). With this launch, the total BTO flat supply in 2012 will reach 27,084 units. This will be the largest BTO supply in a year since the BTO system was introduced in 2002. Together with another 7,153 balance...
Earlier this month, the Singapore Democratic Party released a housing policy paper proposing a new class of flats that it envisaged could be priced significantly lower than new Build-To-Order (BTO) flats offered by the Housing and Development Board (HDB). This is because these "non-open market" (NOM) flats would be priced only to recover the cost of administration and construction, and not the cost of...
Seven per cent or about 3,000 applicants failed to complete the purchase of their new Housing and Development Board (HDB) flats after successfully selecting one in the last two years. There were 43,000 bookings for new HDB flats in 2010 and 2011. In a written reply to a parliamentary question filed by MP for Pasir Ris-Punggol GRC Gan Thiam Poh, the Ministry of National Development said there were three...
The HDB resale market is showing signs of stabilising, said National Development Minister Khaw Boon Wan. Speaking in Parliament on Wednesday, Mr Khaw said the yearly Resale Price Index (RPI) growth has gone down from 14.1 per cent in 2010 to 10.7 per cent last year. And in the first nine months of this year, the figure stood at 3.9 per cent. However, Mr Khaw said an uptick in quarterly RPI growth to two...