Latest News - HDB

HDB launches SHINE Movement

Wed, 23 May 2012 00:00:00 +0800

PropertyGuru.com.sg : By Cheryl Tay:

In an effort to promote neighbourliness among residents in Singapore, the HDB launched the SHINE Movement on 22 May, with the special participation of the Minister of National Development Lee Yi Shyan (pictured) at the HDB Hub Atrium.

The SHINE movement is the second activity under the HDB’s inaugural Community Week, which is part of the Roadmap to Better Living in HDB Towns — a strategic plan that guides HDB on how to meet the evolving lifestyle aspirations of the residents and provide them with a better living environment.

“Amongst the key thrusts under the Roadmap is to develop Community-Centric Towns - to build cohesive and resilient communities through ‘heartware’, harnessing the energy of the community to work with us in creating great homes and strong community spirit,” said HDB.

The SHINE movement encourages residents to gradually increase their kind acts over time. It also aims to foster camaraderie among the residents, while motivating them to be gracious and hospitable towards their neighbours.

The movement will also start with the distribution of Let’s Shine cards via supporting organisations such as NTUC Fairprice Co-operative Limited, Singapore Scout Association, schools and other Grassroots organisations. The card signifies that its holder will undertake kind neighbourly acts and spread the movement to other communities.

Once a kind act has been done, the card holder will pass the card to the recipient of the act, and that person is to continue the cycle of kindness.

Related Stories:

HDB holds week of community events

Mixed devt at Clementi Town Centre bags international award

Punggol residents complain about ‘poo bomber’

HDB holds week of community events

Tue, 22 May 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

The Housing and Development Board (HDB) is holding its first ever celebration of ‘Community Week’ this week (21 to 27 May), comprising of a series of events that promote the emotional connection among residents as well as encourage them to play an active part in their community.

In a recent blog post, Khaw Boon Wan, Minister for National Development, said: “We had five decades building HDB homes. Now, we want to build community among the residents. The task of building community is harder but much more important.”

Dr Cheong Koon Hean, CEO of the HDB, said: “In October last year, we introduced the 'Roadmap to Better Living in HDB Towns' - a strategic plan that guides HDB to deliver a better living environment and meet the evolving lifestyle aspirations of our residents.”

To develop Community-Centric Towns, the HDB will “build cohesive and resilient communities through 'heartware', harnessing the energy of the community to work with us in creating great homes and strong community spirit”.

The week-long event themed Celebrating L.I.F.E in the Heartland, was officially launched by Minister of State for National Development and Manpower, BG (NS) Tan Chuan-Jin at the HDB Hub Atrium. L.I.F.E stands for Let’s be Considerate Neighbours, It’s my Town, Friends Next Door and Eco@Home.

Simultaneously, Heartland Youthoria! was launched with the theme “Celebrating Youth Involvement in the Heartlands”. The youth showcased their creativity in building their dream communities using Lego bricks and made a commitment to help foster community bonding through the use of pledges.

Mixed devt at Clementi Town Centre bags international award

Thu, 17 May 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

The Housing and Development Board’s (HDB) mixed development at Clementi Town Centre (pictured) has bagged the prestigious FIABCI Prix d’Excellence award, winning the runner-up award in the Master Plan Category.

It is the first development in Singapore to integrate public housing, commercial amenities and a bus interchange.

According to the HDB, the project “injected new life into a mature town, and optimised land use by turning an old bus interchange site into a modern mixed development that is well integrated with its surroundings and transport nodes”.

The award is given out to developments that excel in various aspects, including overall concept, development and construction, architecture and design, financial and marketing, environmental impact and community benefit.

Commenting on the accolade, Fong Chun Wah, Group Director (Development & Procurement) at the HDB, said the housing board “is honoured to have won this prestigious international award. Being committed to provide quality living for Singaporeans, the development is in line with the first thrust of HDB’s Roadmap for Better Living – to develop ‘Well-designed Towns’. With good planning and design, we have added vibrancy and improved the living environment of residents residing in an established town like Clementi”.

The 40-storey mixed development at Clementi Town Centre has helped to revitalise the mature estate by focusing not just on the macro aspects of planning and urban design, but also on the finer details such as building design, facilities and public spaces.

It comprises of two blocks of high-rise homes, a community library, air-conditioned bus interchange, a 25,000 sq m modern shopping mall and a new Town Council office.

The residential component features 388 new HDB flats, which were built under the HDB’s Selective Enbloc Redevelopment Scheme (SERS) programme.

Apart from this win, the mixed development also clinched the FIABCI Singapore Property Awards in 2011 (Winner, Master Plan category) as well as the Merit Award for Best Design Land Transport Integration at the Land Transport Excellence Awards 2012.

Related Stories:

Punggol residents complain about ‘poo bomber'

HDB flat sizes haven't changed, assures Khaw

HDB's OTP forms now available for download

Punggol residents complain about â��poo bomber'

Mon, 07 May 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

Residents at Punggol Central have been complaining about a ‘poo bomber’ who has been throwing faeces from the higher floors of their HDB flats for the past two months.

According to a news report, the acts have been taking place at Block 161A (pictured) in Punggol Central. Residents of the block have been complaining that the area is dirty and disgusting and that the stench is unbearable.

According to a female resident who lives on a lower floor, the incidents do not occur at a fixed time and sometimes take place early in the morning or around dinner time. She went on to say that only faeces were thrown at first, but the attacks have since intensified and urine was dumped too.

The woman known as Zhou, believes the thrown faeces are animal poo. Aside from making the area unsightly, she said the faeces have dirtied laundry that’s hung outside windows.

Several residents noted that complaints have been made to the town council. However, the problem still continues despite the distribution of leaflets around the block calling on residents to be more civic-minded.

Residents living on higher floors and who own pets have denied responsibility over the issue.

Meanwhile, a spokesperson from the National Environment Agency (NEA) said it has received three complaints about the matter.

To address the issue, it has installed a CCTV camera to monitor the situation. Agency personnel have also visited the area and encouraged residents to report the culprit and reminded them that the perpetrator will bear full responsibility for the inconvenience caused to residents.

HDB flat sizes haven't changed, assures Khaw

Thu, 03 May 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

National Development Minister Khaw Boon Wan (pictured) has assured Singaporeans that HDB flat sizes are not shrinking and in fact have remained unchanged over the last 15 years.

Speaking at the REACH Contributors’ Forum 2012, he said that public housing in the country will not follow the same path as Hong Kong, where flat sizes are much smaller.

“I would consider that a deterioration of our quality of life and we should avoid that,” said the Minister.

For instance, he highlighted that four-room flats have remained at 90 sq m since the mid-90s. In fact, the Housing and Development Board (HDB) stressed that the amount of living space per person has risen with the number of individuals in an average household declining.

On the other hand, Mr Khaw said that units built by private developers are becoming smaller and cited the sudden increase and popularity of shoebox units.

He noted that the government “may have to step in” if the number of such units coming into the market gets too high.

In terms of public housing prices, Mr Khaw said that HDB flats are still affordable and the current high prices will not continue.

“In the past five years, the population was growing rapidly that infrastructure could not keep up so because of the temporary imbalance, prices shot up. HDB has been aggressively pumping units into the market and although Singapore is not in the steady stage yet... there is some stabilisation,” he said.

“We are seeking their understanding and patience... we are getting there. We will continue to work hard at it. In the next five-year term, I'm committed to build at least 100,000 HDB flats if necessary.”

HDB's OTP forms now available for download

Thu, 03 May 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

In a bid to provide greater convenience to sellers and buyers, the Housing and Development Board (HDB) will start releasing downloadable versions of the standard Option to Purchase (OTP) form.

The OTP form is the only contract used in resale flat transactions and can be downloaded from HDB’s website.
Each form will have a unique serial number, meaning consumers can only print one copy and it will be required when the resale application is submitted.

The HDB will still distribute pre-printed hardcopy OTP forms at HDB offices until 30 June or when stocks run out, whichever comes earlier. Meanwhile, resale transactions using the pre-printed OTP form will be accepted until 31 July.

Related Stories:

HDB flat sizes haven't changed, assures Khaw

Flat owner embroiled in illegal sublet case

Cash premiums for HDB resale flats dive 30%

Flat owner embroiled in illegal sublet case

Wed, 02 May 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

The owner of a Housing and Development Board (HDB) flat in Geylang has allegedly been caught advertising room rentals for S$60 per night, according to a report in The New Paper.

The advertisement, which was carried in the October 2011 issue of inflight magazine Lion-Mag, showed three photos of rooms for rent, along with the flat’s address and highlighted that staff in the house can speak Bahasa Indonesia.

When contacted last week, the owner denied placing the advertisement, adding that it was just a misunderstanding. She claimed that those who came in and out of the flat last year were actually her family members from Indonesia.

“I have a big family from Indonesia. When they visit, they fill up my whole flat. I did not rent my rooms to tourists,” said the owner who declined to be named.

The housing board is now investigating the matter, with a spokesman reiterating that HDB flats and bedrooms cannot be sublet to short-term occupants.

“A tourist's length of stay is usually short, and the turnover of such ‘occupiers’ is expected to be high. This may lead to high human traffic to and from the flat, which will disrupt the pleasant living environment and ambience in our HDB estates,” noted the spokesman.

Moreover, HDB emphasised that subletting of rooms to non-approved sub-tenants like tourists is considered a lease infringement.

The spokesman said: “HDB will take stem action against the flat owners, including imposing a financial penalty, or even compulsory acquisition of the flat”.

Related Stories:

Cash premiums for HDB resale flats dive 30%

Punggol Waterway clinches 1st international award

HDB may stop providing COV figures: experts

Cash premiums for HDB resale flats dive 30%

Mon, 30 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

Cash-over-valuation (COV) for resale flats has dropped significantly in both mature and non-mature estates, making them more affordable to home buyers.

Data from property agencies shows that overall cash premiums fell 30 percent in the first quarter of 2012, compared with a 10 percent drop seen in Q4 2011. This comes as prices of resale flats edged up 0.6 percent in Q1, reflecting the slowest pace of growth since 2009.

Meanwhile, 5,892 resale flats were transacted in the first quarter of this year, down 0.5 percent from the 5,921 recorded in the same period last year.

The bumper crop of 8,000 new units announced for sale this year and the additional 5,000 units scheduled for release next month have impacted the market.

Observers said that last month’s announcement to reserve a higher percentage of new executive condo (EC) units for second-timers also shifted buyers’ sentiment.

“If people can buy Build-to-Order (BTO) flats, they will buy,” said Lee Sze Teck, Senior Manager of Research and Consultancy at Dennis Wee Group. “Resale flats are for those who don't qualify, or who cannot wait.”

Donald Han, Special Adviser at HSR Property Group, said the “assurance that there's enough supply for those who want to buy flats has hit home. The masses have gotten the message”.

The price decline was particularly steep in areas like Pasir Ris and Woodlands. Cash premiums dropped to an average of S$20,000 for three- to five-room flats in Woodlands while Pasir Ris saw the biggest fall as COVs for executive flats hit S$35,000, from S$58,000 in the previous quarter.

COVs in more popular estates like Queenstown fell between S$4,500 and S$25,500 for three-room flats while cash premiums for four-roomers held steady at S$50,000.

“The central locations still collect a premium,” noted Chris Koh, Director of Chris Koh International. “But for the rest of the towns in the outskirts, the COV is coming down quite quickly.”

Punggol Waterway clinches 1st international award

Mon, 30 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

My Waterway@Punggol (pictured), dubbed the ‘Venice of Singapore’, has bagged its first international award just five months after its launch, with the Grand Prize for Excellence in Environmental Engineering in the environmental sustainability category.

The award was presented by the renowned American Academy of Environmental Engineers (AAEE).

“Singapore is the only Asian country so far to have won the award in the environmental sustainability category. Generally dominated by American entries, My Waterway@Punggol ranks as one among the select few international projects to have clinched an AAEE award successfully,” said the Housing and Development Board (HDB) in a statement.

The award acknowledges the best in environmental engineering and looks at the holistic and long-term aspects of the development’s environmental and economical impact and effects.

The S$225 million development came out tops due to three key elements – stormwater management (Water), environment sustainability (Green) and community spaces (People).

The water element was achieved through the implementation of innovative techniques like eco-drains, which ensure that surface runoff is cleansed before entering the waterway. Jet fountains, water curtains and aerators were also incorporated to enhance water quality.

The green element involved the use of eco practices during construction with recycled materials, while the people element created new communal spaces with architecture capturing the heritage of old Singapore.

“Right from the start, we wanted to build a green, sustainable waterway and using green construction methods,” said Sng Cheng Keh, Deputy CEO of Building at the HDB.

“We are glad to have achieved both objectives. Winning this award is testament to Singapore’s small contribution towards being responsible global citizens by constructing an environmentally-friendly waterway.”

HDB may stop providing COV figures: experts

Fri, 27 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

Top executives at property companies have hinted that the Housing and Development Board (HDB) may soon stop releasing cash-over-valuation (COV) figures for resale flats.

This is based on recent actions by the HDB as well as in private conversations, which imply that the publishing of COV figures will be stopped altogether. This could push prices up in the resale sector.

Last year, HDB started holding back certain COV data, including the nationwide median and the proportion of resale flats sold over valuation. Since June, agents who have been promising a definite COV have been fined by the Council for Estate Agencies (CEA).

In addition, the bosses of several property companies who attended a closed door meeting earlier this month quoted a senior housing board executive who expressed intentions to stop publishing COV figures.

HDB currently publishes COVs by flat type along with the estate location.

Eugene Lim, Key Executive Officer at ERA Realty, said that it is “the best time” to hold back this last measure. He explained that in a market where COVs are high, not having an official figure will intensify the rise of cash premiums, as agents will toss figures around.

However, Mohamed Ismail, Chief Executive at PropNex, feels that if HDB stops providing figures, buyers and sellers will continue to seek information from agents.

“What HDB is trying to do is break the mental model of sellers asking for minimum COV,” he added.

Nicholas Mak, Head of Research at SLP International Property Consultancy, noted that large property firms would favour the move as this would make their data the only source for COV information.

HDB's main upgrading exercise over after 20 years

Mon, 23 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

The housing board’s Main Upgrading Programme (MUP), a landmark project to upgrade older HDB estates, has finally been completed after it was implemented over 20 years ago.

Incidentally, the last revamp took place at Teck Ghee in Ang Mo Kio Avenue 10, which happens to be located near the first precincts that benefitted from the MUP.

“It’s over 20 years from the first to the last project, and in these 20 years we’ve benefited many Singaporeans,” said Prime Minister Lee Hsien Loong.

Over 130,000 HDB flats have received extra rooms, new window grilles and toilets, as well as better living conditions. “Hence, the value of flats has risen,” he noted.

PM Lee also said that the government footed most of the bill amounting to S$3.3 billion, while residents contributed around seven to 64 percent of the cost — depending on the upgrading works done and flat type.

The programme’s aim was to modernise older HDB estates as most flats were spartan and basic, considering they were built during the country’s early years when the priority was to house as many families as quickly as possible.

Related Stories:

HDB's Project SPHERE reaches milestone

HDB's Main Upgrading Programme ends

3 resale flats sold break S$900k mark

Green makeover for 38 HDB blocks in Jurong

Mon, 23 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

The Housing and Development Board (HDB) has unveiled details of its ‘Greenprint’ scheme that is part of an island-wide effort to ‘green up’ public housing. This programme includes the installation of hi-tech garbage collection systems, rainwater collection tanks and solar panels.

The scheme aims to make older estates more environmentally sustainable. At the same time, the housing board has identified 38 HDB blocks at Jurong East Street 21 that will its first beneficiaries.

The scheme, which is expected to be completed in 2014 will amount to S$17.7 million and will benefit 3,200 units.

Meanwhile, the estate’s existing garbage collection and disposal system will be changed to a pneumatic refuse collection system, which siphons refuse from individual units to the central waste collection point.

It will reduce the need for workers who transport waste in HDB estates and also lessen the number of collection points - from five to six per block to just one or two for all 38 blocks. Overall, it will reduce manpower requirements by 70 percent, said the housing board.

The blocks at Jurong East will also be fitted with solar panels and fuel cells, which will generate sufficient power for the estates’ lifts, common lighting and street lamps.

In addition, LED lighting with motion sensors will be utilised in less-frequented places to cut energy usage, while rainwater collection tanks will help to reduce water consumption.

The energy-saving features will decrease energy consumption by around 30 percent or S$144,000 annually.

HDB's Project SPHERE reaches milestone

Wed, 18 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

The Housing and Development Board (HDB) and Singapore Pools are celebrating the 10-year anniversary of Project SPHERE (Students, Singapore Pools and HDB Enriching and Reaching out to the Elderly), a programme that promotes community bonds between younger Singaporeans and the elderly through various social activities.

In recognition of their support, Tan Chuan-Jin, Minister of State for National Development, presented certificates to the participating schools.

“One of HDB’s key missions is to build cohesive communities. Project SPHERE is in line with HDB’s Roadmap for Better Living’s third thrust – to develop Community Centric Towns,” said the HDB.

It provides an avenue to students to reach out to elderly households via different activities, such as simple household repairs, housekeeping works and personal grooming.

With the Ministry of Education’s (MOE) strong support, 56 schools are now adopting 54 rental blocks and studio apartments, from the original five schools adopting three rental blocks in 2002, when the project first started. At the same time, around 250 activities involving more than 3,000 students are organised by the participating schools every year.

“When we first started, some students had difficulty communicating with the elderly. But we subsequently overcome this problem through the use of sign language and dialect, and the elderly start to confide in them,” said Cheo Ching Ching, a lecturer from ITE College Central.

As the project’s main coordinator, HDB matches schools and its staff to respective elderly beneficiaries and provides coaching and training to the volunteers.

“HDB takes an active role in building communities, and Project SPHERE is one of the many initiatives on the ground. Back-end, we do a lot of coordination work and training. But when we see the smiles on our elderly residents’ faces, it just makes it all worthwhile,” said Thomas Tey, Deputy Director of Community Relations (Programmes) at the housing board.

Related Stories:

HDB's Main Upgrading Programme ends

3 resale flats sold break S$900k mark

HDB working to speed up lift upgrading works

HDB's Main Upgrading Programme ends

Mon, 16 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

By Romesh Navaratnarajah:

After over 20 years, the Housing and Development Board’s (HDB) Main Upgrading Programme (MUP) will end this Saturday, 21 April 2012.

Since it started in 1990, the MUP has enhanced overall living standards at older HDB blocks and benefited more than 131,000 households. It has also spawned other smaller-scale upgrading programmes like the Neighbourhood Renewal, Home Improvement and Lift Upgrading schemes.

“Against this backdrop, the government mooted the idea of upgrading older HDB estates to bring older estates on a par with newer ones,” said the HDB in a Straits Times report, adding that the programme cost the government nearly S$3.3 billion.

It was designed with three objectives – to upgrade facilities like carparks, sheltered walkways and amphitheatres on the precinct level; improve letterboxes, facades and lift lobbies at the block level; and retrofit several flats with upgraded bathrooms, new doors and grilles, and a 65 sq ft utility room.

While not every flat owner has welcomed it, analysts feel the programme has been a success.

Mohamed Ismail, Chief Executive of PropNex, said most naysayers were elderly residents who did not see the point of improving their flats, especially if they were already satisfied with them.

However, he said the utility room was particularly welcomed, adding that “valuations are based on size, so that could be a 10 percent increase for a home that's in a more marketable, rejuvenated estate.”

3 resale flats sold break S$900k mark

Thu, 12 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

Three resale HDB flats transacted recently have hit the S$900,000 mark, according to data from HDB’s website.

Last month, an executive apartment located at Block 148, Mei Ling Street changed hands for S$900,000, while an executive maisonette at Bishan was sold for S$900,000. Over at Upper Boon Keng Road, a five-room flat was transacted for S$903,000 back in December.

However, these prices pale in comparison to the S$1.1 million sale of a HUDC flat in Shunfu Road two years ago.

Property experts have noted that these prices are exceptional and do not represent current HDB prices.

The property at Bishan is about 1,600 sq ft and is located on the 20th floor of Block 173, Bishan Street 13.

David Siah, 42, bought the flat for S$610,000 in 2008. The valuation for the property was S$740,000 but Siah was confident to ask for S$950,000 due to its good location and view.

The Queenstown property, which is around 1,700 sq ft, lies between the 16th and 20th storeys of a block at Mei Ling Street.

The flat, which was listed on PropertyGuru in December, belonged to an 80-year old Singaporean who died last year, so his siblings sold the four-bedroom and two-bathroom unit.

Initially, the asking price for the unit was S$950,000, or about S$560 psf, although it was valued at S$800,000.

“It took over a year to sell. I was very scared that it wouldn't be sold. The price was simply too high,” said the agent.

Fortunately, a buyer was willing to pay about S$900,000, approximately S$100,000 more than its valuation.

Meanwhile, the Queenstown flat’s high selling price did not surprise neighbours as it has a convenient location.

HDB working to speed up lift upgrading works

Tue, 10 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg : The HDB is taking the necessary steps to expedite upgrading works for the lifts at its estates.

Lee Yi Shyan, Minister of State for National Development, noted that the HDB is working to hasten the lift upgrading programme (LUP), “without compromising quality and safety”.

Lee said this in response to a query by MP Foo Mee Har (West Coast Group Representation Constituency), on whether the works could be sped up as some residents have been giving feedback that the upgrading is taking too long.

The minister responded that under the LUP, it will take six months to upgrade an existing lift, while 16 months are needed to build a new lift shaft and a new lift carriage. He added that the process has become more complicated since HDB’s contractors had to work with other agencies in detecting and diverting underground services like telecoms, water, sewage and power supply pipelines.

He added that HDB contractors are also challenged by construction hours as well as the need to minimise distrurbance to residents.

However, HDB has adapted measures to shorten the time frame for onsite construction work, minimising inconvenience. In 2007, it introduced steel lift shafts that could be pre-fabricated, cutting work time by two months.

Lee noted that the LUP is on track to be completed by 2014.

Related Stories:

New flats oversubscribed by over 3 times

BTO bumper supply takes toll on resale flats

HDB applications exceed available flats

New flats oversubscribed by over 3 times

Wed, 04 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

The huge number of applications for the 7,978 Build-to-Order (BTO) and balance flats released a week ago has exceeded supply by over three times. Applications reached about 26,350 a few hours before closing yesterday.

Balance flats drew the most interest with the subscription rate at 3.8 due to the fact that most units are ready-built and located in mature estates.

Application rates for BTO flats stood at 2.9, with the larger four- to five- roomers seeing strong interest.

Khaw Boon Wan, Minister for National Development, said in his latest blog post that the data is ‘reassuring’, as “the application rates suggest that our policies are responding well to the diverse needs of our flat buyers.”

Set aside mainly for first-timers, “more flats in mature estates were offered to help newlyweds stay near their parents. Despite the popularity of these flats, overall first-timer application rates for the BTO and SBF flats remain at 2.1 and 1.9 respectively,” Mr Khaw said.

He added that the high application rate of 1.8 for BTO flats in mature estates was also reassuring.

“Those who applied for these BTO flats are almost assured of a flat, even though we have tripled the chances of second-timers.”

Meanwhile, the application rate for second-timers in non-mature estates declined to 6.7 from 20.7 in January’s BTO exercise.

In addition, several applicants have applied for the priority schemes enabling married children to stay close to their parents. About 30 percent of the applicants also took up the Married Child Priority Scheme (MCPS) while eight pairs of parents with their married children have made use of the Multi Generation Priority Scheme (MGPS) for the BTO flats in Bedok.

The elderly have also responded positively to the Ageing-in-Place Priority Scheme (APPS) and supply of studio apartments (SA).

“Overall, application data to the bumper launch has been reassuring. We will continue to calibrate our rules to help as many buyers as possible,” noted Mr Khaw.

BTO bumper supply takes toll on resale flats

Tue, 03 Apr 2012 00:00:00 +0800

PropertyGuru.com.sg :

With the government rolling out more housing choices for buyers under the BTO (Build-to-Order) scheme, signs of fatigue are slowly creeping into the HDB resale market, according to a report by The Business Times.

In the last quarter, the housing board released a total of 8,706 BTO flats into the market, aside from the 3,825 flats offered under the SBF (Sale of Balance Flats) exercise.

That number may grow to 25,000 units by year-end, according to the HDB.

At the same time, the large BTO supply is said to have affected the resale market, taking into account HDB’s flash estimate of the RPI (Resale Price Index) in Q1, which rose by just 0.6 percent, compared to the 1.7 percent increase seen in Q4 2011.

“Resale prices are stabilising and cash-over-valuation (COV) is coming down. The main reasons are that prices have hit a ceiling and home buyers are attracted by HDB's continued BTO launches of a variety of flats in a variety of locations,” said Eugene Lim, Key Executive Officer at ERA Realty.

Lim added that the recent policy change of setting aside 15 percent of BTO flats in non-mature estates for second-timers has also moved buyers away from the resale market.

In general, Q1 resale transaction volumes have noticeably dropped, with five-room units and executive flats the most affected.

HDB applications exceed available flats

Fri, 30 Mar 2012 00:00:00 +0800

PropertyGuru.com.sg :

Home buyers have overwhelmingly responded to the Housing and Development Board’s (HDB) recent launch of 7,978 flats, with applications exceeding the number of available flats, according to a Straits Times report.

Some 8,551 applications were received as of 5pm yesterday in only the second day of applications, said the HDB. The launch will carry on for five more days.

HDB’s figures show that demand for Sale of Balance Flats (SBF) was mostly driven by second-timers but their quota still remains at five percent.

On the other hand, Build-to-Order (BTO) flats appealed mostly to first-timers.

1-year ban for cancelling HDB bookings

Thu, 29 Mar 2012 00:00:00 +0800

PropertyGuru.com.sg :

While the Housing and Development Board (HDB) has released more flats and revised the eligibility rules to provide buyers with more choices, it has urged applicants to carefully decide before booking units.

Buyers that cancel their bookings after putting down an option fee will now be barred from buying BTO (Build-to-Order) and resale flats with housing grants for a period of one year, based on new HDB regulations.

The ban is also applicable to new DBBS (Design, Build and Sell Scheme) units and executive condominiums (ECs).

The ruling will apply to the latest launch of 8,000 units, including 3,825 leftover flats from previous sales exercises and 4,153 new BTO units.

Meanwhile, HDB has also relaxed the eligibility rules for two-room flats in mature estates by raising the household income ceiling from S$2,000 to S$5,000 per month.

The revision comes after a significant increase in the number of cancellations, from 309 in 2007 to 1,540 last year, accounting for about five to six percent of the yearly BTO supply over that period.

Many applicants said they cancelled their bookings due to changes in their housing plan or preference to live in a different location. However, HDB noted that the one-year penalty could still be waived “in exceptional circumstances beyond the control of the applicants.”

Mohamed Ismail, Chief Executive at PropNex, commented that the one-year ban is “understandable and fair”, noting that 1,500 cancellations is a large number.

He added that with the new BTO supply, buyers have more chances which should help them “to take a more serious approach before committing to a home.”

HDB's bumper supply to meet diverse needs

Thu, 29 Mar 2012 00:00:00 +0800

PropertyGuru.com.sg :