Connect with Us     


Connect with Us               

Developer Sales Enquiry: 9789 8770

New Property Dream News Blog

Be Updated Daily with the New Happenings in the Property Market!
"Hit" the 'Subscribe to blog' on your right for Daily Property News Updates!

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

Khaw to pilot 'soft landing' in HDB resale market

Posted by on in Uncategorized
  • Font size: Larger Smaller
  • Hits: 89458
  • Subscribe to this entry
  • Print
National Development Minister Khaw Boon Wan has reiterated that he wants to engineer a "soft landing" in the resale market for Housing & Development Board (HDB) flats, and noted that recent cooling measures are taking effect, going by the latest HDB Resale Price Index released yesterday.

He revealed this on Thursday night at a session of Our Singapore Conversation (OSC), which was specific to housing.

Indeed, while HDB resale prices continued to rise in Q1 2013, the rate of increase was slower than that in the previous quarter.

Comparing resale prices to aeroplanes, Mr Khaw told Singaporeans that time will be needed to slowly moderate prices without "hurting a lot of people", just as an aeroplane would require "a very long runway" to achieve a gentle landing.

"I hope to have understanding from Singaporeans that this is the correct way to go," said Mr Khaw.

While the minister was clear of his target to avoid a hard landing, he qualified that he cannot guarantee it because "the world is in a very dangerous place". He cited the fragile global economy and the unpredictable scale of the H7N9 flu as potential threats that could lead to a major fall in prices on the HDB resale market.

Although there were no hints of an imminent round of new cooling measures, they might not be the only methods to rein in HDB resale prices anyway if one OSC participant has his way - introducing a minimum occupation period (MOP) for HDB flats bought from the resale market in order to discourage short-term speculation. To this, Mr Khaw said that it struck him as a new idea that he had never thought of before.

Currently, while an MOP of five years applies to those who buy new flats from HDB, those who purchase resale flats are not subjected to any MOP.

On the proposed imposition of such a requirement, Mr Khaw said: "I don't think it will be welcomed by many." Although he expressed that he is not keen on the idea, the minister is not ruling it out just yet, saying that "we can take a look" at this suggestion.

Despite discussing at length on possible options to control prices in the HDB resale market, the group of 30 remained mindful of the HDB flat's role as an asset to Singaporeans, especially to a growing group of retirees. Mr Khaw concurred that implementing overly restrictive changes to resale rulings will "spoil their retirement plans".

The issue of equity revolving new HDB flats also came under the spotlight. The opinion that the subsidies enjoyed by a higher-income family in buying an executive condominium (EC) far outweigh those enjoyed by a lower-income family in buying a build-to-order flat seemed to resonate among the participants.

To that, Mr Khaw admitted that there is indeed "a substantial gap" in the subsidies that are meted out currently, thus giving rise to this sense of inequity.

He said: "Something is wrong somewhere, and therefore I think we cannot carry on the EC in this current mode."

Mr Khaw rounded up the conversation by saying that he hopes to garner clarity and conclusion from more of such OSC sessions specific to housing in the coming weeks, and called on all Singaporeans who are interested to partake in the national conversation on housing to sign up for upcoming sessions <> .

Credit from Business Times - 27 April 2013

Rate this blog entry:


To all Real Estate Investors and Future Property Owners,

Hello there, this is Sky Chiu, your Singapore Real Estate Advisor, welcome and thank you for reading through to my News Blog! If you would like to be updated with the Property Market Insights, Do Subscribe to my Blog or via RSS on the Top Right of this page!

With 9 years of experience in real estate business, equipped with in-depth property market and new projects knowledge and insights, i committed to give all my valued clients detailed and clearer analysis before they committed to their dream home - whether you are a first time property seller, an experienced property investor, a first time property buyer or a foreigner looking to move into Singapore.

My dedicated services cover my valued clients through the whole process - selling the property at the Highest Possible Price, finding the Right property, negotiating the for the Best Price, to making an Offer and closing the Best Deal. As your Personal Real Estate Consultant, i am here to help you in everything to make the best real estate decision in your life. Your Satisfaction is My First Priority!

Phone Support



We have a group of very experienced property advisors with in-depth property market and new projects knowledge and insights to give our clients a detailed and clearer analysis before they committed to their dream home from us.

We identify our clients' needs, help them to restructure and maximise their property portfolios. We successfully advised and helped our clients on their loan restructuring and financial timeline management on their property investment.

Contact Us for An Non-Obligatory Discussion Today!



Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum



Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum



Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum