Senior Minister of State for National Development Lee Yi Shyan said there is inter-agency coordination to plan for necessary infrastructure ahead of demand, especially when new public housing projects are developed. So the Housing and Development Board (HDB) works with the Land Transport Authority for the construction of rail lines, expressways and major roads. Mr Lee said HDB also works with other...
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The Housing and Development Board (HDB) will continue to explore ways to further reduce the delivery time for its building projects, said National Development Minister Khaw Boon Wan. He was responding to a question by Non-constituency Member of Parliament Gerald Giam on whether HDB aims to reduce the average waiting time for Build-to-Order flats (BTOs). Typically, BTO projects of 20 storeys and below now...
4.3 per cent, or 1,135 couples, who had booked a flat from 2009 to 2011 and the first half of 2012, cancelled their bookings and had to forfeit their deposit. Among these couples, 367 cited relationship break-up including annulment and divorce as the reason for the cancellation. Minister for National Development, Khaw Boon Wan, shared these figures in a written reply to Member of Parliament for Hougang...
Plans are under way to allow singles to buy new flats directly from the HDB in the future. Some analysts estimate that if the new policy is implemented, half the number of singles buyers in the resale flat market will move to Build-To-Order (BTO) flats. Analysts say this will cool the resale flat market, but only in two or three years' time when the BTO flats are completed. Latest data from local...
Minister for National Development Khaw Boon Wan on Saturday assured singles that he is looking into their housing concerns. Mr Khaw, however, adds that he needs some time as his current focus is on the immediate needs of the second-time flat applicants, until they are largely addressed next year. The minister also wants to have a better handle over the likely additional demand on new HDB flats when the...
The cash-over-valuation (COV) component in HDB resale transactions is rising and it could hit over S$200,000 soon. COV refers to the sum of cash that needs to be paid by a buyer over and above the market valuation of a flat. Real estate agents said the median COV paid for HDB resale flats has risen by about 12 percent to S$30,000 in the third quarter so far. But for a Bishan unit, the COV has hit a...
A Housing and Development Board (HDB) executive maisonette in Bishan has been sold at a whopping price of S$980,000 or S$550 psf, a new record for the costliest HDB resale flat. Sold by a Singaporean woman, the unit was bought by a Singaporean and her China national father, reported The Straits Times. The sale price of S$980,000 is inclusive of S$200,000 in cash-over-valuation (COV), reportedly the...
The Housing and Development Board (HDB) tender for the land parcel at Punggol Way/Punggol Walk for Executive Condominium Housing Development has attracted three bids at the close on Tuesday. The top bid came from Qingjian Realty (South Pacific) Group Pte Ltd at S$189.87 million or $3,375.86 per square metre. This works out to S$314 per square foot per plot ratio. The top bid was just 1 percent higher...
The Housing and Development Board (HDB) on Wednesday won the Global Superior Achievement Award for the Punggol Waterway project. The waterway was lauded for its innovation, green practices and novel technologies. The award is the highest honour conferred by the International Water Association for the most outstanding project in all categories. It is also the first time an Asian country has clinched the...
National Development Minister Khaw Boon Wan said the 50-year mortgage bank loans that are available now are not likely to have significant impact on the public housing market. In a written reply to a question by Member of Parliament Chen Show Mao, Mr Khaw added that while some borrowers may be attracted by the lower monthly instalments, the ministry does not expect 50-year housing loans to be popular. Mr...