The Housing and Development Board (HDB) disbursed $502 million in CPF housing grants for the financial year 2009/2010. The figure is 52 per cent higher than the previous financial year. The HDB also said its priority is to help first-time home-buyers set up their first homes through both demand and supply measures. Speaking to the media at its Annual Report briefing, CEO Mrs Cheong Koon Hean said HDB...
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The Housing and Development Board (HDB) handed out a new "Innovative Design" award at its annual Design and Construction Awards on Tuesday. Targeting projects that have not been constructed, the new award aims to encourage architectural consultants to place more emphasis on good and innovative design, and serve as an impetus for consultants to fine-tune their design before the construction...
Singaporeans have generally welcomed the 7-day cooling-off period for buying and selling HDB resale flats. The cooling-off period takes effect from November 1. The process starts as soon as the seller completes and sends out an online resale checklist to HDB. In that checklist, they have to state clearly their next housing arrangement. A financial plan for the next home purchase has to be made clear as...
Among the property cooling measures introduced in August, the requirement for resale flat buyers to dispose of their private property, including any held overseas, has left some flat seekers in a bind. And National Development Minister Mah Bow Tan said in Parliament yesterday the Housing and Development Board (HDB) has received around 250 appeals - about a hundred from potential buyers who own overseas...
More changes are on the way for the regulation of Singapore's property market. From November, sellers of Housing & Development Board (HDB) flats will have to observe a seven-day cooling-off period before they can grant an Option-to-Purchase (OTP) to the buyers. And foreign owners of landed property could face tougher rules under changes being proposed by the Law Ministry. The HDB said in a statement...
The Housing and Development Board (HDB) is unable to allow subsidised flat owners from owning overseas properties, even if they are inherited. National Development Minister Mah Bow Tan said this in Parliament on Monday in response to a question from MP Lee Bee Wah, who asked whether HDB will allow exemptions to those who inherit foreign properties out of bequests. "HDB is unable to allow exemptions for...
From November, sellers of Housing & Development Board (HDB) flats will have to observe a seven-day cooling-off period before they can grant an Option-to-Purchase (OTP) to the buyers. The cooling-off period starts after they complete a resale checklist which will have to be submitted online to the HDB website. The checklist was introduced in 2008 to ensure flat sellers and buyers are aware of the key...
The Canopy in Yishun had sold all the 20 units allocated to upgraders and another 80 or so units were booked by first-time buyers over the weekend, said Mr Tan Zhi Yong, managing director of the developer MCC Land. The executive condominium (EC) - only the second to be launched in the last five years - has 406 units in total. In the first month of sale, 95 per cent of the units are set aside for...
Are executive condominiums (ECs) better investments than private housing? Some ECs have gone up more in price over the years than private mass market condominiums in the same areas. Bishan Loft, Woodsvale and The Eden are chalking up higher price gains compared to nearby mass market condos launched during the same periods. An example will be Pinevale, an EC in Tampines launched in 1997 at $450 psf, has...
The good response to the recent launch of Esparina Residences has triggered interest and aroused curiosity over executive condominiums (EC). A large turnout was seen on the first day of the launch, when 344 out of 573 available units were sold. More EC launches are expected in the coming months. What are ECs and how do they compare with private condominiums? More importantly, do ECs make good property...