Since the cooling measures announced a couple of weeks ago, HDB has seen a fall in the number of applicants for new flats, and the volume of transactions for resale flats has also fallen by about 25%. my paper reported there were 3,225 applicants for the 1,408 units in the Yishun Riverwalk BTO development. While still oversubscribed, the ratio of 2:1 is the lowest in recent months. Last month, the BTO...
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THE new rules on ownership will not necessarily force private property owners who inherit an HDB flat to sell one of the homes. HDB clarified yesterday that if a property owner could keep both homes if he inherits an HDB flat that was bought before Aug 30. But if the flat's minimum occupation period (MOP) has yet to be met, the person inheriting it will have to move in until the MOP is complete, unless...
The Housing and Development Board said on Monday that its latest Build-To-Order (BTO) project, Yishun Riverwalk, received a total of 3,225 applications for the 1,408-unit development. Observers said demand was not as overwhelming since the new housing measures to cool the property market kicked in. Property agents said they expect cash-over-valuation (COV) to fall by 20 to 25 per cent this year. So some...
The Housing and Development Board (HDB) has launched a land parcel located at Bedok Reservoir Crescent for sale by public tender under the Design, Build and Sell Scheme. The tender will close at noon on November 2. HDB said the new DBSS site is located in Bedok Town, a choice residential town surrounded by excellent amenities such as the town centre, neighbourhood centres, schools, Bedok Reservoir,...
SOME resale flat sellers asking for high cash premiums have been brought back down to earth by the recent property rulings. Agents have seen a handful of owners lowering their cash- over-valuation (COV) quotes, especially if they are asking for more than $60,000 initially. Owners who have a real need to sell their flats and are demanding less to attract buyers. C&H Realty managing director Albert Lu...
NEW measures that prevent people from owning both public and private properties appear to have discouraged some permanent residents from buying resale flats here for now. Agents have seen PRs delaying house hunting, and they expect PRs to account for fewer sales. Behind the change in sentiment are rules introduced by the government this week to cool the residential property sector. From Aug 30, a...
HDB yesterday released two residential sites - one for an executive condominium (EC) at Pasir Ris and the other for private housing at Sengkang. The EC parcel, which is at the junction of Pasir Ris Drive 1 and Elias Road, can yield 320 flats. It is being launched under the government's Confirmed List. The Sengkang plot is available for application for sale under the Reserve List of the government's land...
The Housing and Development Board (HDB) has said it will look at requests of those affected by the new changes to resale flat applications on a case-by-case basis. It was referring to those who have exercised the Option to Purchase a resale flat and secured a bank loan before August 30, but have not submitted their resale applications to HDB when the policy changes were announced. HDB added that those...
Before Monday, if HDB resale flats were tradeable investment products on the screen of international ratings agencies, they would have attained a triple-A rating; so highly regarded were they by property investors. However, all that changed when the Government announced measures to effectively close them to new investors and speculators. The new rules disallow concurrent ownership of HDB flats and private...
The recent changes to dual home ownership aimed at cooling the sizzling property market have left some owners in a bind. From 30 August, private property owners who want to buy a flat from the Housing and Development Board (HDB) would have to sell their private property within six months. The regulation also applies to those who own property outside of Singapore. For some, owning two properties is a...