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Subscribe to this list via RSS Blog posts tagged in HDB flats

Is the growing divergence in prices of resale public housing flats and private homes snuffing out the Singaporean dream of owning a condominium?

190418113030 HDB images newpropertydream

While price data might underscore such fears, market watchers note that there are many mitigating factors to keep the upgrading momentum from owners of Housing & Development Board (HDB) flats going, who sell their flats to move to private housing.

First, the truth be told, price indices do not tell the whole story, said Edmund Tie & Company CEO Ong Choon Fah.

The HDB resale landscape has been uneven, with larger flats in mature and sought-after estates such as Toa Payoh, Bishan, Ang Mo Kio, Bukit Merah, Geylang and Queenstown holding up in prices or even registering an increase in Q4 2017 from Q4 2012, based on median resale prices published on the HDB website.

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Posted by on in Residential

An upcoming scheme to help public rental households own a home again could offer two-room flexi flats on shorter leases. Such leases are now only for elderly buyers.

This Fresh Start Housing Scheme includes a new grant, which may be disbursed in tranches subject to conditions, to motivate the new home owners to stay in jobs and put their children through school, for instance.

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Posted by on in Residential

Build-To-Order (BTO) flats in Sengkang and Punggol may have been unpopular when they were first launched, with complaints over the location and the lack of amenities.

But home buyers who signed up for the flats some 10 years ago are now having the last laugh, with the value of their homes nearly tripling.

The Straits Times looked at data provided by SRX Property of flats launched in and after 2002 when the BTO system began.

Of these, the highest number of transactions were of Sengkang four-roomers with the leases starting in 2009. They cost up to $205,000 when they were first launched around 2005.

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National Development Minister Khaw Boon Wan’s recent comment that every Singaporean couple — regardless of their financial means — ought to have a chance of living in Housing and Development Board (HDB) flats signals a shift in the Government’s thinking and could have profound implications on housing policy, experts said yesterday.

Nevertheless, some of them noted that it was an inevitable shift given Singapore’s changing circumstances and the need for public housing to retain its role as a social institution here.

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The recent stabilisation of resale prices for Housing Board flats has surprised some property analysts, who say this may point to an earlier-than-expected bottoming out of the market.

After months of declines, prices finally inched up 0.2 per cent between March and April, and stayed constant from April to last month, according to latest data from SRX Property.

Not only have prices stabilised, but more resale flats have also been sold this year.

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Posted by on in Uncategorized
The Housing Development Board (HDB) is rolling out 6,454 flats for sale this month in both mature and non-mature estates under its Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercises.

The third BTO launch this year will offer 3,071 BTO flats in four projects in the non-mature towns of Bukit Batok and Woodlands, bringing the total number of BTO flats released this year to 9,707 units.
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Resale prices of HDB flats dipped 0.2 per cent in April over March. The drop was driven by three, four and five-room HDB flats, which saw price weakening of 0.2 per cent, 0.8 per cent and 0.4 per cent respectively. However, prices of executive flats rose 1.2 per cent.

Overall, HDB resale flat prices for April were down 5 per cent year-on-year, show latest figures from the Singapore Real Estate Exchange (SRX).
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Posted by on in Uncategorized
Reducing the supply of Build-To-Order flats after a three-year construction boom makes sense given the reduced demand but resale prices are unlikely to be affected, say analysts.

This is because, now that pent-up BTO demand has been addressed, the two markets largely serve different groups.
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While consultants concur that the grants outlined at Sunday's National Day Rally are a move in the right direction to promote home ownership, they vary in their assessment of the potential impact on the wider market.

Amid other policy announcements unveiled during the annual National Day Rally, Prime Minister Lee Hsien Loong said that the government was extending the Special CPF Housing Grant (SHG) to include middle-income households looking to purchase four-room flats.
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Prime Minister Lee Hsien Loong had announced a new grant of up to $20,000 for buyers of three- and four-room flats.?Previously, this Special Central Provident Fund (CPF) Housing Grant was only for low- income buyers of small flats.
Observers said yesterday that the new grant must come with an income ceiling that limits it to lower-middle income buyers.

The median household income of Singaporeans is $7,570, while the median household income of applicants for four-room HDB flats in non-mature estates is $4,100.
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Posted by on in Uncategorized
More Housing Board flat owners have been renting out their units in recent months - a phenomenon attributed to upgraders who want to keep their flats even as they move on to private property.

HDB figures last month showed a 6 per cent rise in subletting transactions between the first and second quarters of this year, from 7,410 cases to 7,891.
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Posted by on in Uncategorized
The final count was 58. That was the number of singles who applied for each two-room flat available to them in the Housing Board's latest Build-To-Order launch, which closed at midnight on Monday.

That means more than 8,500 singles have jumped on the up to about 155 flats in Sengkang and Yishun reserved for them.
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Posted by on in Uncategorized
The Housing Board (HDB) is rolling out 3,346 flats in mature and non-mature estates, the first to feature a new priority scheme for married couples with young kids.

The flats in the first launch of Build-To-Order (BTO) projects for the year are in Ang Mo Kio, Kallang-Whampoa, Tampines, Choa Chu Kang, Hougang and Yishun.
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Posted by on in Uncategorized
Prices of resale flats stayed at a record high in the third quarter, after having grown at the fastest pace of the year.

But while analysts expect the upward trend to continue, they do not forecast runaway prices.

The Resale Price Index (RPI) for Q3 stood at 197.9, an increase of 2 per cent over the previous quarter, data from the Housing and Development Board (HDB) showed yesterday. This was in line with earlier official estimates.
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The Government's reiteration that it will not build new executive maisonettes will further boost the prices of such "limited edition" units, said analysts.

These large, two-storey flats have become highly sought-after in the last few years due to a growing price gap between Housing Board flats and private property, and a wave of collective sales that have thrown up cash-rich buyers looking for big spaces.
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The Government's reiteration that it will not build new executive maisonettes will further boost the prices of such "limited edition" units, said analysts.

These large, two-storey flats have become highly sought-after in the last few years due to a growing price gap between Housing Board flats and private property, and a wave of collective sales that have thrown up cash-rich buyers looking for big spaces.
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