Large crowds turned up at the launch of the latest executive condominium (EC) on Friday. Property developer Sim Lian Group said it hopes Tampines Trilliant, which is located in a mature estate, will attract couples who want to live near their parents. But with prices as high as S$971,000 for a four-room unit, will home-buyers be turned away? The launch of Tampines Trilliant saw a large lunch-time crowd...
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Fewer flats changed hands last year. Latest data from the Housing and Development Board (HDB) showed a sharp fall in the number of resale transactions - at 24,633, down 24 per cent from 2010. PropNex CEO Mohd Ismail said the various cooling measures introduced by the government have dampened demand and supply. He said the lowering of the Loan-To-Value (LTV) ratio to 60 per cent for a second loan means...
Mainboard-listed developer Sim Lian Group has launched a new executive condominium project in Tampines Central 7. The Tampines Trilliant will open for application from Friday till next Tuesday (January 27 to 31). The booking date is on February 4. Sim Lian said prices for the 670-unit development start from S$682,000 for a three-bedroom unit, and from S$971,000 for a four-bedroom unit. The project,...
Balloting rules for Build-To-Order (BTO) flats are expected to be changed soon to better cater to second-time buyers. Analysts said this move will help to cool the demand in the resale market. The changes will also not lead to an oversupply of flats as demand is still strong. Currently, only 5 per cent of BTO flats are allocated to second-time buyers, and analysts believe that the rate could go up to...
The number of Housing & Development Board (HDB) flats being sublet has more than tripled in the past five years. The reasons include the relaxation of subletting rules, and an increase in foreigners. With more HDB home-owners using their flats to earn rental income, some analysts are concerned this will lead to a shortage of supply in the resale market. The number of HDB flats on the rental market...
National Development Minister Khaw Boon Wan has released data on the extent of Cash Over Valuation (COV) paid by different buyer groups. Writing in his blog, under the heading "Who Bids High?", Mr Khaw revealed that private property owners paid the highest median COV of S$45,000 in the last quarter of 2011. The next highest was S$34,000 in median COV paid by second-timers. First-timers paid S$33,000,...
Housing residents in an HDB flat within an HDB community, with access to HDB estate facilities is preferred over dormitory-type temporary housing. The latter may not be suitable for family-based households. National Development Minister Khaw Boon Wan said this in a written parliamentary reply, in response to Chua Chu Kang GRC MP Zaqy Mohamad. Mr Zaqy had asked if the government will consider easing the...
National Development Minister Khaw Boon Wan has said his ministry can now move on to better help second-time flat buyers. This comes as first-timers enjoyed a 1.5 application rate for the last Build-To-Order (BTO) launch in January. This means practically all will get a chance to choose a unit. This is similar to the rate of 1.6 in the November BTO. Mr Khaw announced this on his blog on Tuesday. The...
National Development Minister Khaw Boon Wan said HDB studio apartments do not fit the housing needs of younger singles. He said these apartments are sold with a short 30-year lease which is appropriate for retirees but not necessarily for younger people. Mr Khaw said this in response to a question from MP Dr Intan Azura Mokhtar. She had asked if his ministry will consider allowing singles who are 55...
National Development Minister Khaw Boon Wan has said imposing an income ceiling for resale flats will deprive flat owners of the full market value of their flats. He was answering a question in Parliament on Monday on whether the ministry would consider limiting the sale of 3-room or smaller flats to lower income Singaporeans. Chua Chu Kang GRC MP Zaqy Mohamad noted that the Cash-Over-Valuation (COV) for...