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Subscribe to this list via RSS Blog posts tagged in resale flat

NewPropertyDream Queenstown hdb flat sold for 1 08m more record breaking deals expected

A HDB resale executive apartment at Block 148 Mei Ling Street in Queenstown, which has a balance lease of about 76 years, was sold this month for an eye-popping $1.08 million, which works out to about $669 psf on the built-up area.

The 1,615 sq ft corner unit located on the 13th floor is close to Queenstown MRT station and Anchorpoint mall.

It is understood that the sellers have been staying there since 1995 and plan to upgrade to a nearby condominium.

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Posted by on in Residential

Housing Board resale prices stayed flat last month in confirmation of a stabilising market, with experts expecting sluggish conditions to continue into the year.

SRX Property flash figures released yesterday showed HDB resale prices staying unchanged from November to December, though fewer flats changed hands in the traditionally quiet year-end season. December's price changes were marginal across different flat types and estates. Prices rose 0.3 and 0.1 per cent respectively for three- and four-room flats, and fell 0.4 per cent for both five-roomers and executive flats.

Across mature estates, prices rose 0.2 per cent. In non-mature estates, they fell 0.2 per cent.

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The resale volume for Housing Board flats rose to its highest in two years last month, further signalling a market recovery.

There were 1,709 HDB flats sold in June, up by more than 8 per cent from the 1,575 units in May, according to the latest SRX Property data.

This is the highest since May 2013, and a third up from last June.

Resale prices also inched up by 0.1 per cent last month, after rising by 0.2 per cent in April and staying flat in May. While prices of three-room flats dipped by 0.2 per cent, those of four-room, five-room and executive flats were up by 0.3 per cent, 0.5 per cent and 0.7 per cent respectively.

This comes after months of prices heading south, following the introduction of market cooling measures such as an increased mortgage servicing ratio limit.

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Financial support is the main way to help people who want to get a resale Housing Board flat near their parents, said experts.

This could mean giving a higher resale grant, or allowing more buyers to qualify for it.

As part of efforts to encourage extended families to live close together, the Government is studying whether such resale buyers can get more help, National Development Minister Khaw Boon Wan said last Friday.

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The Ministry of National Development (MND) will look into how it can provide more help to those who wish to buy a resale flat to live near their parents, Minister for National Development Khaw Boon Wan said on Friday.

In an MND blog post, he noted that more Singaporeans now want flats near those of their extended families in mature estates, given the benefits of such arrangements.

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The biggest collective redevelopment for public housing is in the offing for one of the country's oldest neighbourhoods in Queenstown.
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Time may be up for 3,480 flats in 31 blocks along Tanglin Halt Road and Commonwealth Drive, which are slated to be demolished under the Selective En bloc Redevelopment Scheme, or Sers.
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Residents, who found out only yesterday, will be offered new flats in the nearby Dawson estate, National Development Minister Khaw Boon Wan announced in a blog post yesterday.
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Property experts yesterday singled out four potentially popular areas for home buyers: Jurong, Woodlands, Holland Village and the upcoming Bidadari Estate.

They were taking part in the STProperty Rise Up To The Challenges In The Singapore Property Market forum, held at The Star Performing Arts Centre.
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Posted by on in Uncategorized
Despite a record number of new flats launched by the Housing Board (HDB), prices of resale units continue to rise - 3.9 per cent so far this year - outpacing both the private market and economic growth.

This, said analysts, is largely due to a reduced supply of resale flats as more HDB dwellers choose to sublet their units when they upgrade to a private home.
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