With the current property market and HDB prices at its peak, potential second-hand flat buyers should not dive in recklessly when purchasing a flat, but will have to be mindful of the potential pitfalls, warns real estate agents. Citing an example of a family who paid S$645,000 for their executive maisonette in Yishun 14 years ago, Mr Mohamed Ismail, CEO of PropNex real estate agency, says the family has...
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The Housing and Development Board is launching two new Build To Order (BTO) projects Thursday at Senja Gateway in Bukit Panjang and Corporation Tiara in Jurong West. A total of 1,016 flats will be offered. This comprises 254 units of Studio Apartments, 484 units of four-room and 278 units of five-room flats. HDB says 95 per cent of the public supply of four- and five-room flats will be set aside for...
The Housing and Development Board (HDB) is investigating 300 cases for unauthorised subletting with four owners losing their units and six fined for illegal subletting so far. This comes after HDB stepped up enforcement against unauthorised subletting and conducted 2,600 checks on HDB flats in the first five months of this year. Of the 300 cases, 59 cases are suspected to have infringed the subletting...
Red-hot HDB resale market will take a year to stabilise: Mah Along with strong economic fundamentals, the red-hot HDB resale market is a result of an imbalance in demand and supply, and it will take a year or so for prices to stabilise, National Development Minister Mah Bow Tan said yesterday. In the interim, the Housing and Development Board will roll out 18,000 to 19,000 flats this year. "I hope with...
National Development Minister Mah Bow Tan said more new HDB flats will be built for first-time applicants, so as to relieve the pressure on the resale market. He said this at a grassroots event celebrating the HDB's 50th Anniversary on Sunday. It is the last leg of a series of events HDB has been conducting in the heartlands. The "Storeys of Our Homes" exhibition celebrates 50 years of public...
The Housing and Development Board (HDB) has committed another S$550 million to upgrade the living environment for another 54,000 homes in three middle-aged towns - Pasir Ris, Tampines and Hougang. Launching the HDB's 50th anniversary celebrations at Tampines Town on Sunday, Deputy Prime Minister Teo Chee Hean said the government has already spent S$540 million in these three towns to the benefit of some...
Prices of HDB resale flats have hit a new high in the second quarter of this year. According to the latest statistics released by the Housing Development Board (HDB), the resale price index in the second quarter this year rose 4.1 per cent over the previous quarter, compared to the increase of 2.8% in the first quarter of this year. The median Cash-Over-Valuation (COV) amount amongst all resale...
DB resale flat prices have hit record highs again. Prices rose by 4.1 per cent in the second quarter of 2010 compared with the previous quarter. This makes it the fifth straight quarter of increase. The HDB resale market continues to attract keen interest. Analysts said the demand is driven by those who don't qualify for a new flat or want a flat quickly. These are the singles, permanent residents, flat...
SINGAPOREANS who qualify for highly subsidised public rental flats but sublet them illegally will soon face tougher penalties. National Development Minister Mah Bow Tan yesterday announced changes to existing legislation giving the Housing Board the same punitive powers over public rental flats that it has over sold HDB flats. Currently, when rental flats are sublet illegally, the HDB's only recourse is...
National Development Minister Mah Bow Tan has stressed that HDB flats are not meant to be used as a source of funds for business or other uses. He said this a day after changes were made to the Housing and Development Act, to prevent owners from using their flats as collaterals to settle debts with moneylenders. Mr Mah said: "The HDB flat is not meant to be used as a source of funds for business. "The...