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Subscribe to this list via RSS Blog posts tagged in hdb

Flash estimates released by the URA on 1 October 2015 revealed that the private residential property index dipped to 142.3 points in Q3 2015, a drop of 1.9 points (1.3 per cent), compared to Q2 2015.

Non-landed private property costs fell across all market segments. Costs in the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR) declined by 1.3 for each penny, 1.5 for every penny and 1.6 for each penny separately, contrasted with the past quarter.

Costs of Housing Development Board (HDB) resale pads fell also. As per HDB glimmer assesses, the resale value record saw a 0.3 for each penny decrease in Q3 2015. The decrease has backed off in examination to the 0.4 for every penny decay seen in Q2 2015.

Taken from iProperty

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Bidadari home will soon have 2,150 new flats, comprising of two-to five-room units propelled available to be purchased under HDB's Build-to-Order (BTO) exercise.

This dispatch will be the first of HDB flats in the Bidadari home, and purchasers with folks living in Toa Payoh, Potong Pasir, or inside of a 2km sweep will have need.

The home is relied upon to house around 10,000 private units in the end, and in addition group shopping centers, a lake and a ten-hectare park. The domain is arranged in close closeness to two North East Line MRT stations, Woodleigh and Potong Pasir.

Property watchers expect costs of Bidadari units to be at a higher value point taking into account its city-fringe area.

Mr Eugene Lim, ERA Realty's Key Executive Officer said to Channel NewsAsia that he expects costs for flats in the Bidadari bequest to extend from S$300,000 to S$350,000 for three-room flats, S$400,000 to S$450,000 for four-room flats and S$600,000 for five-room flats.

This BTO activity is the first since the pay top was raised to S$12,000, which Mr Ku Swee Yong, CEO of Century 21, accepts will draw more purchasers.

Taken from iProperty

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Bidadari estate will soon have 2,150 new flats, consisting of two- to five-room units launched for sale under HDB’s Build-to-Order (BTO) exercise.

This launch will be the first of HDB flats in the Bidadari estate, and buyers with parents living in Toa Payoh, Potong Pasir, or within a 2km radius will have priority.

The estate is expected to house approximately 10,000 residential units eventually, as well as community malls, a lake and a ten-hectare park. The estate is situated in close proximity to two North East Line MRT stations, Woodleigh and Potong Pasir.

Property watchers expect prices of Bidadari units to be at a higher price point based on its city-fringe location.

Mr Eugene Lim, ERA Realty’s Key Executive Officer said to Channel NewsAsia that he expects prices for flats in the Bidadari estate to range from S$300,000 to S$350,000 for three-room flats, S$400,000 to S$450,000 for four-room flats and S$600,000 for five-room flats.

This BTO exercise is the first since the income cap was raised to S$12,000, which Mr Ku Swee Yong, CEO of Century 21, believes will draw more buyers.

Taken from iProperty

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One of the most memorable highlights of this year’s National Day Rally was the raising of income ceilings, as the government moves to enhance the affordability and accessibility of public housing.

Income ceilings for new Housing and Development Board (HDB) flats and Executive Condominiums (ECs) have been raised by S$2,000, to S$12,000 and S$14,000 respectively.

Senior citizen income ceilings for monetising schemes—such as the Lease Buyback Scheme, the Silver Housing Bonus, and short-lease two-room flats—have increased from S$10,000 to S$12,000. Singles’ income ceilings increased from S$5,000 to S$6,000, enabling more to qualify for new or resale two-room HDB flats.

This is in line with the rising real income of the populace and to bring more eligible people into the fold. The income ceiling required of the Special CPF Housing Grant (SHG) will also be reworked from the current S$6,500 to S$8,500.

Similarly, the maximum housing grant amount has been doubled to S$40,000, helping to make homes more affordable for lower and middle income families.

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The Housing and Development Board (HDB) has announced a new 2-room Flexi scheme—a hybrid of the existing Studio Apartment (SA) and 2-room schemes—to offer homebuyers greater lease-term options.

These schemes will be available from next month and applicable to the Punggol and Bidadari Build-to-Order (BTO) exercise.

Over 70 BTO projects, to be completed in the next five years, will incorporate 2-room Flexi flats, with 40 per cent set aside for the elderly. Current SA homeowners are given flexibility in the extension of leases, by five, ten, or 15 years, compared to only ten years previously.

Those who opted for the Lease Buyback Scheme (LBS) prior to April can extend their lease by another five years at current market value, beginning April 2016.

SA homebuyers awaiting their flats will bear no cost of the forfeiture fee if they decide to switch to a short-lease Flexi flat. However, this must be done before 19 August 2016.

Second-timers above 55 years old who are buying a new two- or three-room flat will see a waiver of interest accrued on their resale levy if their first subsidised flat was sold before March 2006. This option will be made available in September 2015’s BTO exercise.

The short-lease option will also be extended to them whether they have enjoyed housing subsidies before, or own a private residential property.

Singles earning more than $5,000, divorcees, households who have enjoyed two housing subsidies and private property owners will have to pay a prorated amount. They will however, be unable to put properties on short-lease terms on the resale market.

Taken from iProperty

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The Housing and Development Board (HDB) has announced a new 2-room Flexi scheme—a hybrid of the existing Studio Apartment (SA) and 2-room schemes—to offer homebuyers greater lease-term options.

These schemes will be available from next month and applicable to the Punggol and Bidadari Build-to-Order (BTO) exercise.

Over 70 BTO projects, to be completed in the next five years, will incorporate 2-room Flexi flats, with 40 per cent set aside for the elderly. Current SA homeowners are given flexibility in the extension of leases, by five, ten, or 15 years, compared to only ten years previously.

Those who opted for the Lease Buyback Scheme (LBS) prior to April can extend their lease by another five years at current market value, beginning April 2016.

SA homebuyers awaiting their flats will bear no cost of the forfeiture fee if they decide to switch to a short-lease Flexi flat. However, this must be done before 19 August 2016.

Second-timers above 55 years old who are buying a new two- or three-room flat will see a waiver of interest accrued on their resale levy if their first subsidised flat was sold before March 2006. This option will be made available in September 2015’s BTO exercise.

The short-lease option will also be extended to them whether they have enjoyed housing subsidies before, or own a private residential property.

Singles earning more than $5,000, divorcees, households who have enjoyed two housing subsidies and private property owners will have to pay a prorated amount. They will however, be unable to put properties on short-lease terms on the resale market.

Taken from iProperty

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With upcoming launches adding to the executive condominium (EC) glut, the 2,200 unsold EC units as of June are the highest in almost a decade.

In an interview with Channel News Asia, Executive Director of Research and Consultancy at SLP International Property Consultants, Mr Nicholas Mak said, "During the heyday of the EC launch market that was in 2011 to 2013, the number of e-applications each EC project can sometimes achieve is double the number of units available.

One of the reasons why the demand was strong was also because of rising HDB resale and condominium prices.

When prices of the mass market condos are rising very rapidly, it begins to go out of reach of some HDB upgraders who will then turn to the EC market as an alternative. But right now, the prices of mass market condominiums are sliding and HDB resale prices are also fairly stagnant."
The biggest EC project to date, Sol Acres, garnered 800 e-applications for its first 707 units. The Vales EC sold less than 20 per cent of its 517 units when it opened for booking more than a week ago.

Compared to November 2014, more than 95 per cent of its units at Lake Life EC were sold in two days.

Orange Tee’s Senior Manager of Research and Consultancy Mr Wong Xian Yang attributed the poor response to the resale levy that has deterred second-time buyers who usually contribute to half the purchase of units at an EC development.

The CEO of Century 21 Singapore, Mr Ku Swee Yong, said that a revision of the household income cap for ECs would increase demand however, families with household salaries of S$13,000 or S$14,000 are likely to take private properties into consideration as well.

The Brownstone EC enjoyed high sales, according to City Developments Limited (CDL), with 185 units sold at an average of S$810 per square foot and all five-bedroom penthouses snapped up.

According to CDL, a majority of units were sold to first-time buyers. Prices started from S$596,000 for a two-bedroom unit, $695,200 for a three-bedroom unit, S$835,200 for a four-bedroom unit, and S$1.316million for a penthouse.

Competitive prices, attractive recreational facilities (such as luxury pools, social gardens and a junior skating ring) and close proximity to the planned Canberra MRT station were cited as reasons for the high sales.

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Mr Hri Kumar Nair, Member of Parliament (MP) for the Bishan-Toa Payoh Group Representation Constituency (GRC) has called for the Design, Build and Sell Scheme (DBSS) scheme to be “shelved permanently”.

His comment on Facebook last week came after other MPs voiced similar concerns over the Housing Development Board’s (HDB) role in ironing out disagreements over defects in DBSS homes, and the future prospects of the scheme.

Several DBSS projects have recently been lambasted for defects, such as the sudden appearance of black spots on wooden floorings in flats at The Peak@Toa Payoh in 2013.

While DBSS projects are meant to marry private and public housing, in an interview with TODAY, Mr Hri Kumar said that there seems to be some misunderstanding over HDB’s responsibilities: “Because this is public housing, the expectation is that not only will HDB oversee the development, they’re supposed to work with the developer to resolve all defects.

And because there is such an expectation, there is also disappointment when that did not happen.”

Mr Desmond Lee, Minister of State for National Development has said that market conditions may still shift and there may be reasons to bring back DBSS in some form.

Taken from iProperty

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The Bidadari Build-To-Order BTO hone at first slated for release in August has been deferred to September.

As showed by Channel NewsAsia, the Housing and Development Board (HDB) is putting off the BTO hone on account of considerations for an addition in compensation rooftops for new BTO competitors and merger of level arrangements for studio condominium and two-room cushions.

The proposed redesigns were accounted for on 23 June by National Development Minister Mr Khaw Boon Wan, who plans for changes to be associated by the accompanying BTO exercise.

September's BTO action will make it the third and greatest in supply this year, disregarding a cut from 16,900 to 15,000 units. 2,150 units from the first time of HDB cushions in the Bidadari area will be offered, including studio lofts and three to five-room units.

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A majority of analysts are welcoming the move for a higher income ceiling for Build-to-Order (BTO) flats and executive condominiums (ECs), citing reasons such as a cool off in demand for new HDB flats and higher combined salaries as a result of later marriages.

"Today, the subscription rate is about 1.5 to two, which means most of the demand has been absorbed, and with this greater supply, opening up to a higher increment of the income ceiling is the right thing to do” said PropNex Realty’s CEO Mr Ismail Gafoor, in a Channel NewsAsia interview.

He also noted that subscription rates were four to five times three years ago.

Additionally, the raised income ceiling is unlikely to affect the property market as there are benefits to purchasing existing HDB resale flats and private property. HDB resale flats are still in demand for their shorter waiting time and location in mature estates.

However, in an interview with Channel News Asia, Colliers International’s director of research and advisory, Chia Siew-Chuin, said “certain conditions must exist first to justify the raising of the income ceiling.” Ms. Chia added that, as of now, the market is relatively more stable than before and prices are slowly moderating.

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Flash estimates of the Resale Price Index (RPI) revealed a 0.4 per cent drop in Housing Development Board (HDB) prices for the second quarter of 2015.

This marks the eight straight quarter of weakening prices. Full RPI statistics for the second quarter will be disclosed on 24 July, together with more accurate public housing data.

In response to the moderating HDB resale market, Build-to-Order (BTO) flats will be tampered down to 15,000 this year while an extra of 9,000 flats will be provided under the Sale of Balance Flats (SBF) scheme.

In the first half of 2015, 8,039 flats have been released under the BTO exercises and 5,387 flats under the SBF scheme. By September, 4,860 more BTO flats will be released in Bidadari and Punggol Northshore while 4,000 will be released in an on-going SBF exercise.

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The pioneer cluster of homes constructed and outfitted with shrewd advancements – Northshore Residences I and II – was dispatched by the Housing and Development Board (HDB) on May 27.

The new pads will be arranged in Punggol Northshore, one of the seven waterfront lodging locale.

The star component of this eco-accommodating undertaking is its coordination of shrewd advancements.

Play areas and wellness corners will be assembled with the assistance of ecological demonstrating innovation, which will consider the best areas with the assistance of wind stream estimation and sun oriented irradiance.

The task will utilize shrewd innovations, for example, a pneumatic waste movement framework to screen reusing endeavors and waste transfer, and in addition an auto park administration framework that studies and dispenses spaces for guests and inhabitants alike. Singular units accompany a choice to introduce individual brilliant frameworks.

Case in point, the Home Energy Management System (HEMS) permits inhabitants to screen their vitality use continuously.

The homes are more reasonable than executed costs of resale pads inside of the territory, yet are eight to 20 for each penny pricier than new pads already propelled, because of the new keen frameworks.

Costs, including lodging awards, begin from at least S$28,000 for a two-room level, S$132,000 for a three-room level, S$249,000 for a four-room level and S$354,000 for a five-room level.

Mr Eugene Lim, Key Executive Officer at Real Estate Agency ERA, said to TODAY that the pads are considered aggressively evaluated thinking of it as' area. The homes will be close to a Light Rapid Transit station (LRT) and an area focus, and is situated in Punggol's first waterfront region for open lodging.

The task is expected in Q2 of 2020 and will be a piece of the 4,040 pads in the Build-to-Order (BTO) exercise. Other BTO pads will be situated in Clementi, Sembawang and Tampines.

Taken from iProperty

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9,431 new pads in 24 Housing and Development Board's (HDB) towns and domains have been put discounted by the HDB in its greatest Build-To-Order (BTO) cum Sale of Balance Flats (SBF) exercise.

This comprises of 4,044 BTO pads in Punggol, Sembawang, Clementi and Tampines that will be dispatched for the current month.

HDB will likewise offer 5,387 parity pads in their May Sale of Balance Flats (SBF) exercise. Give or take 27 for each penny of equalization pads are close consummation, while the remaining is under development.

As per examiners met by Channel NewsAsia, extends in Clementi will draw the most intrigue and be among the priciest, with four room BTO pads going from S$478,000 to S$621,000.

Mr Colin Tan, Director of Research and Consultancy at Suntec Real Estate Consultants, noted however that purchasers regularly settle on choices in light of the area, estimation of the property and potential thankfulness as opposed to considering the cost alone.

Up to S$60,000 of lodging stipends will be accommodated amateur families, subject to qualification.

This includes the Additional CPF Housing Grant (up to S$40,000) and the Special CPF Housing Grant (up to S$20,000). With awards, two room pads may be obtained for as low as S$15,000.

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The number of applicants for five-room units in a Clementi Build-To-Order (BTO) project, Clementi Crest, reached 2,000 as of 5pm on 2 June. On average, that is about 13 applicants for each five-room unit.

Four-room flats in Clementi Crest were equally popular, drawing nearly 1,900 applications for 229 units.

The flats at Clementi have emerged a frontrunner in the recent Housing and Development Board’s (HDB) round of flat sales.

This is despite its premium price tag, almost S$200,000 more than the other five-room units on sale under the current BTO exercise. A five-room HDB flat at Clementi Crest is priced at S$576,000 to S$725,000.

The demand for Clementi has been associated with its lack of new flats and prime location, as it is also near to an MRT station and the town centre.

Its neighbouring estate, Jurong East, also promises a new regional centre and HSR (High-Speed Rail), which has created a ripple effect to estates nearby.

The Sembawang project was the next most popular, with about four applications for each four-room unit, followed by Tampines with three applications for each four-room unit, and lastly Punggol Northshore with two applications for each four-room unit.

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Toa Payoh, Woodlands and Pasir Ris will be a bit of the Housing and Development Board's (HDB) Remaking Our Heartland (ROH) program.

The framework, moved in 2007, has since apportioned $8.4 million to revitalize spaces.

Plans for the revamping join a revamp town center and town stop in Toa Payoh, more recreational spaces made along Woodlands and redeveloped neighborhood centers and parks with family-centered workplaces in Pasir Ris.

Taken from ST Property

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The Ministry of National Development (MND) has pronounced an addition in the segment for new two-room cushions set aside for singles.

4,000 two-room cushions will be dispatched and 50 each penny (up from 30 each penny) of the two-room level supply will be assigned to singles, beginning in May.

National Development Minister Khaw Boon Wan furthermore had a tendency to concerns including the pay rooftop for new HDB cushions.

He illuminated that the pay rooftop should not be crushed completely, yet rather would examine modifying the pay rooftop as compensation levels in Singapore rise.

Taken from ST Property

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Speaking at a dialogue, Social and Family Development Minister Chan Chun Sing said that social interaction between home owners can be fostered through building design.

Mr Chan cited the example of an absence of common corridors in newer HDB flats and said, “Flat owners can have greater privacy this way, but it can have social implications.”

He advised that developers in the real estate industry can play the important role of advocating social interaction, through allocating different types of flats, including rental units in a single project.

During the dialogue, Mr Chan also replied to a question on whether the government will build HDB flats at prime locations to encourage social interaction.

He stated that he was sceptical that it would succeed as there may be potential issues of buyers purchasing the flats, only to profit from selling them in the resale market.

Taken from ST Property

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Two new HDB endeavors, SkyVille@ Dawson and SkyTerrace@ Dawson are approaching culmination and the first group of tenants will have the ability to obtain their keys inside February, according to Channel NewsAsia.

Found at Queenstown, the two upgrades will have 1,718 units, involving 105 units of studio pads, 270 units of 3-room, 1,141 units of 4-room and 202 units of 5-room flats.

There are furthermore joined studio pads where between joining gateways join families from two separate units.

Mr Chan Lup Hoe, a 38-year-old father of three whose people are in their 60s, told Channel NewsAsia, "Before long I feel that it is an OK thought, where the people are simply adjacent, where they have their own specific assurance and likewise I do.

Additionally, I can get the aid - just behind the entrance. That genuinely helps especially for an energetic family like mine."

Taken from ST Property

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Minister for National Development Khaw Boon Wan proclaimed that the cabin stock in Singapore is depended upon to augmentation by 11 each penny, from the current 1.28 million units to 1.43 million units, by 2018.

75 each penny of the pending new units will be for HDB spaces while the rest will be under the private zone.

Mr Khaw moreover said that the pipeline supply of new homes for 2014 to 2017 has been transformed from 200,034 units to 195,788 units on account of a change in HDB's BTO supply.

Moreover, the Ministry of National Development has overhauled the center for 2015 to 2018 as 182,506 units.

Mr Khaw determined "Home buyers have a considerable measure of choices."

Taken from ST Property

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HDB game plans to release two bunches of around 5,000 units of balance cushions not long from now.

Minister of State for National Development Maliki Osman said that by coordinating the arrangement bi-consistently, applicants would have more cushions to look over and a prevalent accomplishment rate for each action.

Of the 10,000 balance cushions, 3,000 units will be put in grown-up areas. A normal 4,000 units will be three-room and tinier.

According to Minister of State (National Development) Desmond Lee, nine each penny of the competitors (surveyed 10,000 applicants) fail to complete the purchase of their Build-to-Order (BTO) cushions, out of the 113,000 new HDB level bookings since 2010.

There were furthermore 460 cases made some place around 2010 and 2014 to delay the key gatherings, especially 30 advances in 2010 took after by 50, 90, 90 and 200 in the ensuing years.

Mr Lee also communicated that 51 level buyers fail to complete the responsibility for new cushions, after the second round of credit examination, between the time of 2013 and 2014.

He advised against buyers from completing the purchase in case they can't make sense of how to serve their hotel development, saying "It would essentially be making a potential acknowledge defaulter for various other new issues for the team."

Dr Maliki moreover granted that there are 87,900 families in Singapore that have rented their cushions beginning 31 January.

Of these numbers, 92 each penny are Singaporean families, while the rest are unchanging tenants.

Since January 2013, ceaseless tenants can simply sublet bit of their cushions, however not their entire cushions according to the Housing Development Board (HDB).

Dr Maliki educated level holders to be careful concerning the regulations to refrain from cracking them.

Taken from ST Property

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