The government is planning to raise the current S$8,000 income ceiling for buying new flats under the Build-to-Order (BTO) scheme, according to Prime Minister Lee Hsien Loong. He said when the S$8,000 cap was raised to S$10,000 for the slightly more upper-class Design, Build and Sell Scheme (DBSS) last year, the government also considered raising the income ceiling for BTO flats and resale flat...
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The Housing and Development Board (HDB) has received overwhelming support on plans to remake estates like Hougang, East Coast and Jurong Lake. Almost all of the 13,000 people surveyed said they were looking forward to the S$1 billion 'Remaking Our Heartland' plans for those areas. The exhibitions for those plans had attracted some 77,000 visitors in January this year. A new town centre, with new...
HDB resale prices went up in the first quarter of this year, but Cash-Over-Valuation (COV) premiums fell during the same period. COV premiums for HDB resale flats dropped 9 per cent, or a S$2,000 decrease, to S$21,000 for the first quarter of this year, according to data from the Housing and Development Board. Observers attributed the decrease to the Government's cooling measures but were divided on...
The price of resale flats went up in the first quarter of 2011, but Cash-Over-Valuation premiums fell to S$21,000 - a 9 per cent drop from the previous quarter, according to data from the HDB. Observers attribute the lower COV premiums to the government's cooling measures which took effect in the first quarter of this year. Going forward, analysts have mixed views on the outlook for COV...
HDB resale prices increased in the first quarter of this year, albeit at a slower rate, as property cooling measures kicked in. The Resale Price Index increased 1.6 per cent in Q1, compared with 2.5 per cent in the previous quarter. Cash-Over-Valuation premiums dropped nine per cent or S$2,000 to S$21,000 from the previous quarter, with the proportion of resale cases transacting above valuation remaining...
The Housing Development Board (HDB) on Monday launched 3,185 new build-to-order flats, forming the largest supply of subsidised housing in a single launch since 2002. The offer consists of 105 units of two-room, 541 units of three-room, 1,797 units of four-room and 742 units of five-room flats. At least 95 percent of the units will be allocated to first-time owners, the HDB said in a statement. Another...
The Housing and Development Board (HDB) has closed the tender for a residential site at Tampines Central 7 after receiving four bids. The highest bid came from developer Sim Lian Land for S$278.8 million. The land parcel has a site area of 22,000 square metres and a maximum gross floor area of 66,000 square metres. The site, slated for executive condominium (EC) housing, was launched for public tender...
The HDB compulsorily acquired 39 flats from their owners last year as they had blatantly infringed the subletting rules. One of the flats acquired was at Pinnacle@Duxton. The owner had sublet the entire flat without HDB's approval in the guise of subletting of rooms, shortly after the flat purchase in January last year. During its night inspections in May and June 2010, HDB found that the owner was not...
About 556,000 CPF members use their CPF savings to service the loans for their HDB flats and 88 per cent of them are covered under the Home Protection Scheme (HPS). In a written reply, National Development Minister Mah Bow Tan said HPS is a mortgage-reducing insurance scheme. It protects HDB households against the loss of their flats should the breadwinner pass away or become incapacitated before the...
National Development Minister Mah Bow Tan said the cash-over-valuation (COV) paid on resale public flats has continued to drop. He said that based on early estimates, COV levels are currently S$20,000 to S$21,000, down from S$23,000 in the last quarter of 2010. Transaction volume has also dropped, but he declined to give figures. His comments came a day after HDB released figures showing that the growth...