Several homeowners are banking on the continued demand for resale flats by asking for higher cash-over-valuation (COV), according to an ECG Property expert. However, with the raising of the income ceiling for HDB flats and executive condominiums (ECs), he hopes high prices taper off. On 14 August, Prime Minister Lee Hsien Loong announced during his National day Rally speech that the HDB income ceiling...
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The pool of potential home buyers for Design, Build and Sell Scheme (DBSS) and Build-To-Order (BTO) flats is now the same, as the government is keeping the monthly income ceiling for DBSS flats at S$10,000. National Development Minister Khaw Boon said yesterday that buyers with a monthly income of up to S$10,000 now have a choice between DBSS and BTO flats. He said that those who can afford DBSS flats...
Higher earners who want to buy executive condominiums will be eligible for housing grants - but they will not be as big as what lower earners will get. The monthly household income ceiling has been raised from $10,000 to $12,000. However, National Development Minister Khaw Boon Wan yesterday announced a 'fairer', tiered system to take into account the greater earning power of those who are now...
Singles buying a resale flat for the first time will receive more assistance from the government. The monthly income ceiling to qualify under the single Singapore Citizen scheme will be raised to S$5,000, up from S$3,000. Singles will also enjoy a CPF Housing Grant of S$15,000, up from S$11,000. And those applying under the Joint Singles Scheme will see the monthly income ceiling raised to S$10,000, and...
The Housing and Development Board (HDB) said it will launch 5,500 Build-To-Order (BTO) flats in September and 4,000 BTO flats in November. The flats will be in different towns, such as Punggol, Sengkang, Hougang, Yishun, and Jurong East. These two launches will bring HDB's total BTO supply this year to 25,000 flats. HDB will complement the September BTO launch with the launch of at least 2,500 flats...
Housing chief gives reassurance that construction industry can cope with increased supply of BTO flats The construction industry will be able to cope with the demand of building new flats, said National Development Minister Khaw Boon Wan. The Housing and Development Board (HDB) announced today that they would be building 25,000 new build-to-order (BTO) flats next year. The HDB also announced today that...
The government will raise the qualifying income ceilings of households for HDB's Build-To-Order (BTO) flats and Executive Condos (EC), said Prime Minister Lee Hsien Loong in his National Day Rally speech on Sunday evening. The qualifying income ceilings of households for BTO flats will be increased from the current S$8,000 to S$10,000, and for ECs from the current S$10,000 to S$12,000. Prime Minister Lee...
National Development Minister Khaw Boon Wan has reiterated that Cash-Over-Valuation (COV) - the premium that HDB resale flat buyers pay to seller - is here to stay. Responding to netizens on his Facebook page on National Day, Mr Khaw said abolishing COV and relying on a professional valuer to set the price of resale flats was tried "years ago". "COV then went underground as 'under counter cash payment',"...
City Developments said Monday that it sold 115 units of its Executive Condominium at Blossom Residences to second-time buyers and upgraders on Sunday. This follows the initial launch to eligible buyers, mainly first-timers on July 7, when 150 units were snapped up. To date, a total of 319 units have been sold. The units at the 602-unit development, which is located along Segar Road at Bukit Panjang, are...
The Housing and Development Board (HDB) is reviewing the leasing model for the Interim Rental Housing scheme, which was launched in 2009 to help needy families find temporary accommodation while waiting for permanent housing solutions. Currently, these families live in housing blocks spread across the island which are slated for redevelopment. These blocks are leased to operators - such as EM Services and...