Cap on the percentage of foreigners in Housing Board (HDB) estates

The Ministry of National Development in Singapore will start imposing a cap on the percentage of foreigners in Housing Board (HDB) estates. Currently, only Singapore citizens and Permanent Residents can buy HDB flats. But foreigners can rent rooms or entire flats - there is no cap on the number of flats that can be sublet to foreign tenants as yet. HDB statistics shows that less than 4 per cent of HDB flats are sublet to foreigners, excluding Malaysians.

Impact of reduction of BTO flats in Singapore

Property analysts in Singapore say that the reduction in the supply of Build-to-Order (BTO) flats will not affect resale prices. After three years of ramped-up construction, Singapore government recently decided to reduce the supply of Build-to-Order (BTO) flats recently.

Analysts say that the profile of buyers going for resale flats and BTO flats are generally different. The three years of ramped-up BTO supply means that first-time buyers can purchase a new flat instead of a resale flat. This exercise along with the introduction of various cooling measures has helped ease demand for resale flats.

Number of BTOs built in Singapore

If you look at the marriage rates in Singapore and the number of BTOs build in Singapore, it seems that the government is supplying almost one brand new HDB flat to one married couple. Do you think this rate is sustainable?

5RM HDB for Sale at Punggol

Six new BTO projects by HDB in Sep 2013

Singapore Housing Development Board (HDB) launches six new Build-To-Order (BTO) projects in Sep 2013 – Matilda Edge, The Verandah @ Matilda, Waterway View in Punggol, as well as Palm Breeze @ Yishun, Saraca Breeze @ Yishun and Khatib Court in Yishun. These BTO projects offer a total of 4,156 units of Studio Apartments, 2-, 3-, 4-, 5-room and 3Gen flats
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Do you know that short term rentals in Singapore is illegal?

Home stay and short terms stays are common among visitors in different parts of the world, while this is illegal in Singapore. Many holidaymakers around the world uses Internet booking sites (like Airbnb, Roomorama, Travelmob and Wimdu) to stay in homes as a cheaper, and interesting alternative to hotels, including in Singapore. But authorities (like HDB, ERA, etc) have warned home owners in Singapore.

HDB (Singapore Housing Development Board) stepped up enforcement on illegal short term rental phenomenon in Singapore. HDB received 20 complaints from the public on short-term leasing in the year 2012. For the first 7 months of 2013, HDB received 11 cases. Six months is the minimum subletting period here in Singapore.

SGD 1.43 billion top bid for Yishun site

A mixed commercial and residential site at Yishun Avenue 2/ Yishun Central 1 drew five bids with a highest bid of SGD 1.43 billion. The bidding was closed on 6th Sep 2013. The site was launched for sale by HDB on 28th Jun 2013, the land parcel has an area of 41,084.9 sq m and maximum gross floor area (GFA) of 123,254.7 sq m, with a plot ratio of 3.0. The top bid was submitted by Frasers Centrepoint. This was followed by an offer from Far East Civil Engineering, Far East Orchard and Sekisui House at SGD 969.3 million. The lowest bid of SGD 704.5 million came from Yorkshire Investments and Yorkshire Trustee, units of CapitaLand.

The site’s integration with Yishun MRT station and bus interchange in future makes it a new focal point for Yishun. The site is offered on a 99-year lease, the site could also generate about 890 housing units.

HDB launches new landscape guide

The Housing and Development Board has launched a new landscape guide, which is targeted at raising industry standards and inspiring more creative explorations of landscape design. The guide provides references on the standards and principles of good landscape design in public housing developments.

Green Estates of the future

Singapore National Development Minister Khaw Boon Wan promised that each new Housing Development Board (HDB) project which is going to come up in Singapore would be a cut above the rest. New projects will have lush spaces for neighbourly bonding to cycling trails for healthy living.

Minister unveiled plans for the upcoming Bidadari, Tampines North and Punggol Matilda districts on 29th Aug 2013. These projects will yield 35,000 public homes and 5,000 private units in stages over the next 10 to 15 years.

3Gen HDB Flats in Singapore

Singapore Housing and Development Board (HDB) will release a new type of Three-Generation (3Gen) flats to cater to multi-generation families living under one roof. 80 of these flats will be piloted in Yishun.

Re-sale prices of Private Homes in Singapore

Resale prices of private homes in Singapore climbed 0.2 per cent in July 2013 as compared to June 2013. In June, resale home prices declined 0.1 per cent from a month earlier. The price growth in July was due to higher prices of transactions recorded in the non-central region and for small units, according to the latest Singapore Residential Price Index (SRPI) flash estimates published by the National University of Singapore's Institute of Real Estate Studies.

Pricing Strategy for HDB Flats in Singapore

The Prime Minister of Singapore said the government strategy is to use more grants to bring down the effective costs of HDB (Housing Development Board) flats in Singapore, rather than change how they are priced at the moment. This statement defied the expectations of some who thought the Government would announce a radical move to lower HDB’s Build-To-Order (BTO) prices in Singapore. This means a lot positive for the residential market in Singapore – the base is set and not going to change soon!

Subletting transactions in Singapore

HDB figures for July 2013 shows a 6 per cent rise in subletting transactions between the first and second quarters of this year. This means more owners of HDB flats have been renting out their units in recent months.