flats

HDB resale prices climb for 4th straight quarter amid Covid-19 vaccine optimism

aseanpr 23 4 月

4 minutes

SINGAPORE - The Housing Board resale market remained steadily robust in the first quarter of this year amid Covid-19 vaccine optimism, with prices of resale flats rising for the fourth consecutive quarter even as fewer flats changed hands. The resale price index for the first three months of the year was logged at 142.2, an increase of 3 per cent over that in the fourth quarter of 2020, according to figures released by HDB on Friday (April 23). Prices rose 8.1 per cent year on year. Last quarter's HDB resale prices were just 4.8 per cent lower than their peak in the second quarter of 2013, said Ms Christine Sun, OrangeTee & Tie's senior vice-president of research and analytics. She noted that the roll-out of Covid-19 vaccines around the world and anticipated global economic recovery stoked a frenzy of property-buying activity worldwide, which in turn lifted market sentiment for the HDB resale market. The supply and demand imbalance of flats has also caused prices of HDB resale flats to climb in many locations, said Ms Sun. Prices for resale flats rose in 22 of the 26 HDB towns, with those in the central area clocking the highest median resale price at $910,000 for a four-room flat....

Singapore’s million-dollar HDB flats: Where are the 6 most expensive units ever sold located?

aseanpr 31 3 月

2 minutes

SINGAPORE - In spite of the Covid-19 pandemic, a total of 82 Housing Board flats were sold for at least $1 million last year, compared with 64 in 2019. The first two months of this year saw 36 such transactions, compared with just eight in the same period last year. HDB flats that crossed the $1 million mark have been a fairly recent phenomenon. The first such sale was recorded in July 2012 for a 150 sq m executive apartment in Block 149 Mei Ling Street in Queenstown. Three months later, in October 2012, a 163 sq m executive maisonette in Block 194 Bishan Street 13 was sold for $1.01 million. The appetite for such flats has grown over the years. Up till last month, there have been 338 such transactions, according to data provided by real estate portal SRX. The most expensive unit so far is a five-room flat in Block 1B at The Pinnacle @ Duxton that sold for $1.258 million in September last year. Analysts, however, were quick to point out that million-dollar HDB transactions were few and far between. They made up just 0.3 per cent of total resale transactions in the first eight months of last year. Here's a look at the six most expensive flats sold in Singapore: Why are people willin...

Pre-1987 HDB flats mostly upgraded; 56k newer flats next in line for home improvement programme

aseanpr 2 3 月

4 minutes

SINGAPORE - The majority of the 320,000 eligible flats built up to 1986 have undergone upgrading works under the Housing Board's Home Improvement Programme (HIP). Of these, about 215,000 flats, spread across 230 projects, have completed upgrading works, while works are currently under way for about 96,800 flats, spread across 101 projects, said the HDB in an update on Tuesday (March 2). Works on the remaining flats will be implemented progressively. Next in line for upgrading will be a newer batch of 230,000 flats built between 1987 and 1997. The HDB also said on Tuesday that the first batch of about 56,000 units have been selected for the Extended HIP, but did not specify a time frame for the roll-out. As at March 31, 2020, the Government has spent about $3.2 billion on HIP, which focuses on improvements within the unit to address common maintenance problems related to ageing flats. Under this scheme, the Government bears the full costs of repairing of spalling concrete and structural cracks, replacing piping for waste or soil discharge, and upgrading the electrical load in eligible flats. The programme can proceed only when at least 75 per cent of a block's eligible households th...

Parliament: 1,700 flats surrendered to HDB over past 5 years, reasons include divorce

aseanpr 2 3 月

3 minutes

SINGAPORE - About 1,700 flats were surrendered to the Housing Board over the past five years, including 700 that were given up due to reasons such as break-ups or divorces. These figures were revealed by Senior Minister of State for National Development Sim Ann in Parliament on Tuesday (March 2), in response to Mr Gan Thiam Poh (Ang Mo Kio GRC). Ms Sim said the 700 flats were surrendered to HDB mostly because of changes in their owners' circumstances within their minimum occupation period (MOP). These changes had made them ineligible to own a HDB flat, but the owners were not allowed to sell their flats on the open market as they had not fulfilled their MOP. The most common reasons for the surrender of these flats were divorce, break-ups between engaged couples, and the annulment of marriage, she said. The remaining 1,000 or so of the surrendered flats were flats with short leases, comprising studio apartments, two-room flexi flats bought on a short lease, and flats whose owners had opted for the Lease Buyback Scheme. Owners of short-lease flats who no longer wish to keep their flats, or who had become ineligible to do so, are required to surrender their flats to the HDB, said Ms S...

Half of all two-room flexi flat buyers are aged above 55, says HDB

aseanpr 27 2 月

5 minutes

SINGAPORE - Two-room flexi flats have proved popular with older buyers, with more than half of them aged 55 and above, figures revealed on Saturday (Feb 27). Singles have been the second-largest group purchasing the units since they were introduced six years ago, the Housing Board (HDB) said. As at Dec 31, about 34,700 two-room flexi flats had been launched for sale since they were brought in by the HDB in 2015. Around 84 per - or 25,189 flats - of the 29,924 units offered have been booked by home buyers, said the HDB. Selections are still ongoing for the remaining 4,700 units. Of these buyers, 56 per cent were older people aged 55 and above. Singles made up 38 per cent while the remaining 6 per cent of home buyers were families. Among the flats purchased by older buyers, 92 per cent were on short leases. The remainder were on 99-year leases. The 40-year lease was the most popular, at 4,046 units, followed by the 35-year lease at 3,526 and the 30-year lease at 2,291 units. Only 215 older buyers opted for the shortest lease of 15 years, with the oldest being 99 when applying for a flat with such a lease. Sizes for these flats range from 36 to 46 sq m. Older buyers pay less for a fla...

Almost $500 million in Enhanced CPF Housing Grants given to 15,600 first-time HDB flat buyers

aseanpr 21 2 月

4 minutes

SINGAPORE - Close to $500 million has been disbursed to about 15,600 first-time flat buyers since the Enhanced CPF Housing Grant (EHG) was launched in September 2019. Another $748 million in Proximity Housing Grants (PHG) has been given to about 40,200 households since August 2015, said the Housing Board in a statement on Sunday (Feb 21). Both figures were accurate as at Dec 31 last year. The EHG, which goes up to $80,000, is available to eligible first-time buyers regardless of whether they buy a new or resale flat, and has no restrictions on the flat type and location. Of the 15,600 households that received EHGs, 7,700 were first-time buyers of new flats who received about $270 million in total. A further 7,900 were first-timer households who bought resale flats, receiving a total of about $226 million in grants. Another 400 households who are buying resale flats and have applied for the EHG will receive it when their resale transactions are completed. The EHG was announced in 2019 by then National Development Minister Lawrence Wong, and replaced the Additional CPF Housing Grant (AHG) and the Special CPF Housing Grant (SHG), which each amounted up to $40,000. Mr Wong said then th...

Community-organised dialogue suggests ways to help lower-income, bridge social divide

aseanpr 19 2 月

5 minutes

SINGAPORE - Most residents who live in public rental housing find their Housing Board blocks only have rental units. This gives families little opportunity to get to know others in their transient neighbourhood, and they may feel isolated as a result. Ways to overcome this - such as integrating rental HDB flats into blocks of Build-to-Order flats for purchase and having a special fund that tenants can tap on for community activities - were among suggestions by participants to address the needs of lower-income communities and boost social solidarity at a virtual dialogue on Thursday night (Feb 18). Among the participants was Leader of the Opposition Pritam Singh, who welcomed these ideas and said those living in rental units should not have to face stigma, and their situations should not be construed as something out of the ordinary. They could also be in temporary straits. "But that may not be how the cookie crumbles," added the Workers' Party secretary-general and MP for Aljunied GRC. "We need to accept that there are imperfections in society and... we should be more open-minded as a people. That may not be an end point but at least it will be a better place than where we were," h...

S’pore residents living in smaller HDB flats more likely to have aspirations for better housing

aseanpr 10 2 月

4 minutes

SINGAPORE - Singapore residents who live in smaller Housing and Development Board (HDB) flats are more likely to have aspirations for better housing, as compared to those who live in five-room or executive flats. Such aspirations to have a bigger flat, to live in private property, or to live in a purchased flat instead of a rental flat, are also the most prevalent among younger HDB residents, with more than seven in 10 of those aged below 35 who wanted to do so. Meanwhile, close to eight in 10 elderly HDB residents aged 65 and above said they were content with their flat type. These findings were captured in the latest HDB Sample Household Survey released on Wednesday (Feb 10). It is conducted once every five years. The report, which surveyed about 7,800 HDB households in 2018, tackled issues related to public housing, ranging from residents' housing aspirations, to their family ties and aspirations. Aspirations for better housing saw the highest increase among those living in one- and two-room flats, with more than half saying in 2018 that they wished to have better housing, compared to 37 per cent of respondents in 2008. The figure increased by 10.8 percentage points from 2008 to...

4,600 public rental-flat families became HDB home owners over the past five years

aseanpr 7 2 月

4 minutes

SINGAPORE - About 4,600 families in public rental homes have become owners of Housing Board (HDB) flats over the past five years through various housing schemes and grants. By 2023, around 1,000 families will be offered help by HDB to do the same. Among the 4,600 households, three in four bought a flat directly from the HDB while the remaining bought a resale flat on the open market, said the HDB on Sunday (Feb 7). More than half of these households bought a three-room flat while a quarter bought four-room flats, it added. About two-thirds of the rental households that bought a flat had tapped housing grants such as the Enhanced CPF Housing Grant (EHG), which was introduced in September 2019 and dispenses up to $80,000 in grants to eligible buyers. Others had also tapped the previous Additional CPF Housing Grant (AHG) and Special CPF Housing Grant (SHG), which gave up to $40,000 in grants each. These two grants are now replaced by the EHG. Families with at least one child below the age of 18 who live in public rental flats, and who had previously bought a subsidised flat, can also buy a two-room flexi flat through the Fresh Start housing scheme. Close to 100 families have been plac...

HDB launches 3,740 BTO flats in seven projects, including S’pore’s first assisted living housing for seniors

aseanpr 4 2 月

4 minutes

SINGAPORE - A total of 3,740 Build-To-Order (BTO) flats, including Singapore's first assisted living public housing project for seniors, were launched for sale by the Housing Board on Thursday (Feb 4) in the first sales exercise for the year. The flats are spread across seven housing projects in the mature towns of Kallang/Whampoa and Toa Payoh (Bidadari), and the non-mature towns of Bukit Batok and Tengah. Those aged 65 and above can apply for a home at Harmony Village @ Bukit Batok, where 169 Community Care Apartments in a 15-storey residential block is on offer. The new housing concept comes with a mandatory service package to support seniors who wish to live on their own and yet enjoy some care, support and communal activities. These flats are expected to be completed in the second quarter of 2024 and will come with senior-friendly fittings such as grab bars and a wheelchair-accessible bathroom. Prices range from $52,000 to $60,000 for a 32 sq m unit and are sold on short leases between 15 and 35 years. These units cannot be resold or rented out. In Bidadari, which is part of Toa Payoh town, two out of the three projects have four-room and five-room flats. ParkEdge @ Bidadari, ...

82 HDB resale flats sold for at least $1m in 2020 as overall prices, sales rise: SRX

aseanpr 7 1 月

4 minutes

SINGAPORE - The number of Housing Board (HDB) resale flats sold for at least $1 million hit a new high last year amid a strong showing by the market despite the Covid-19 pandemic, according to flash data from real estate portal SRX released on Thursday (Jan 7). There were 82 million-dollar flats transacted in 2020, compared with 64 for 2019, after December saw 10 more of such transactions. They make up about 0.35 per cent of the total number of HDB resale flats sold last year. SRX's flash estimates for December also reveal that overall HDB resale prices rose for the sixth consecutive month, bringing the total price rise for 2020 to 6.4 per cent, much more the 0.3 per cent increase seen in 2019. ERA Realty head of research and consultancy Nicholas Mak said: "This performance of the HDB resale prices and transaction volume illustrated that the adverse impact of the pandemic and economic recession is like water off a duck's back." HDB advance estimates released last week showed that resale prices rose 2.9 per cent in the fourth quarter of 2020 from the previous three months, marking the biggest quarterly increase in over nine years. For all of 2020, resale prices rose 4.8 per cent, ac...

HDB to launch 17,000 BTO flats in 2021, including in Bidadari, Queenstown and Geylang

aseanpr 21 12 月

3 minutes

SINGAPORE - About 17,000 Build-To-Order (BTO) flats will be launched in 2021, keeping the supply of new flats in line with what was launched this year. However, given the economic uncertainty due to Covid-19, the Housing Board will monitor the housing market closely and calibrate flat supply if required, said National Development Minister Desmond Lee in a Facebook post on Monday (Dec 21). A total of 16,752 BTO flats were launched across three sales exercises this year. Typically, the HDB holds four BTO sales exercises in a year, but due to the Covid-19 pandemic, the May BTO exercise was deferred and combined with the August BTO exercise. Next year, new flats will be offered in mature estates such as Geylang, Kallang/Whampoa, Bidadari estate in Toa Payoh and Ulu Pandan estate in Queenstown. Non-mature estates such as Bukit Batok, Tengah and Woodlands will also see new flats, to offer flat buyers "a wide range of options to choose from", said Mr Lee. This includes Singapore's first assisted living public housing for seniors in Bukit Batok, which will be launched next February. These 160 flats, which are expected to be completed in 2024, come with a mandatory service package to suppor...

BTO flats in prime locations may get more govt subsidies but face resale restrictions: Desmond Lee

aseanpr 11 12 月

3 minutes

SINGAPORE - Build-To-Order (BTO) flats in prime locations may receive more subsidies as the Government considers ways to ensure new Housing Board units remain affordable for ordinary Singaporeans. Among the ideas under study - home owners may face restrictions on the resale conditions for future public housing projects in prime areas. In a Facebook post on Friday morning (Dec 11), National Development Minister Desmond Lee said a new housing model is necessary for BTO flats in "new areas with very prime attributes" as they will be "a lot more expensive than current BTO flats". To keep future housing projects in prime locations - such as those in the city centre or those in Greater Southern Waterfront - affordable, Mr Lee said the Government may have to apply more subsidies, on top of the existing subsidies that are already provided today for all BTO flat buyers. But he acknowledged that the additional subsidies may raise some issues. "There is the issue of fairness when these additional subsidies add to higher capital gains for buyers of such flats in prime locations," he said. "In addition, we want to preserve the character of public housing in these estates, so that like other HDB...

Number of HDB resale flats sold for at least $1m hits new high; 72 in first 11 months of 2020

aseanpr 10 12 月

3 minutes

SINGAPORE - The number of Housing Board (HDB) resale flats sold for $1 million or more each has hit a new high, following 13 transactions done in November, according to data from real estate portal SRX released on Thursday (Dec 10). The 72 million-dollar flats sold in January to November this year compare to 64 such units for the whole of 2019. SRX's flash estimates for November also reveal that HDB resale prices rose for the fifth consecutive month, though the volume of transactions dipped. At the top end of the HDB resale market, a five-room unit at The Pinnacle @ Duxton sold for $1,248,000, which was the highest transacted price registered for a resale flat in November. Meanwhile, a five-room Design, Build and Sell Scheme (DBSS) flat in Parkland Residences in Hougang sold for $810,000, recording the highest resale price in non-mature estates. PropNex head of research and content Wong Siew Ying said buyers of million-dollar HDB flats may be willing to pay so much due to its central location, the convenience of being near to the city and the amenities available. She added that as private condo prices have remained resilient throughout the pandemic, some buyers may have turned to t...

More than 5,700 BTO flats launched in last sale exercise of the year, including 1,500 in Bishan

aseanpr 17 11 月

4 minutes

SINGAPORE -A total of 5,795 Build-To-Order (BTO) flats have been launched for sale by the Housing Board (HDB) on Tuesday (Nov 17), in the final sales exercise for the year. These flats are spread across seven housing projects in five estates. The biggest housing project is Bishan Ridges, where 1,502 two-room flexi, three-room and four-room flats are on offer. The site in Bishan Street 14 is next to the Kallang River and about 400m or a five-minute walk from Bishan MRT station. Prices start from $374,000, without grants, for a three-room flat and $528,000 for a four-room flat. Prices are slightly higher than the 472 units in Bishan Street 11 launched in the August BTO sales exercise, likely due to its proximity to the MRT station. Prices of the flats launched in August started at $302,000, without grants, for a three-room flat and $484,000 for a four-room flat. The estimated completion date is in the second quarter of 2026, When The Straits Times first reported on the flats in Oct last year before the Covid-19 pandemic hit, the estimated completion date was 2025. Besides Bishan, the other flats are spread across the mature towns of Toa Payoh (Bidadari) and Tampines, and the non-matu...

Scare tactics to lure property investors come under fire

elean 8 11 月

1 minute

The Singapore authorities have criticised the "irresponsible" actions of some property investment educators and real estate agents who use scare tactics to attract customers to their investment courses. In particular, these people have been flagged for actively pushing the message that "HDB flats will become worthless after 99 years" on social media, so that worried owners will pay thousands of dollars to sign up for their investment courses or sell their Housing Board flats to invest in private or commercial properties. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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