RentalAndRealEstate's Page

NATIONAL Development Minister Mah Bow Tan spent some time in Parliament yesterday addressing popular misconceptions about Singapore’s public housing market.

MYTH: There are not enough HDB flats to meet demand.

HIS RESPONSE:

•The HDB released 13,500 new flats last year and will release another 12,000 or more this year. This is more than the total number of flats in Clementi or Jurong East (about 23,000 flats each).

•The massive oversubscription rates for new fl… Continue

SINGAPORE: National Development Minister Mah Bow Tan announced in Parliament on Friday changes in housing policy to promote citizenship in HDB households and encourage social integration.

To promote citizenship and reinforce the privilege that comes with it, households comprising one Singapore Citizen and one Permanent Resident (PR) will have their CPF Housing Grant reduced by S$10,000 when buying a resale flat. This will also apply to Design, Build and Sell Scheme flats and Executive C… Continue

SINGAPORE: The Minimum Occupation Period (MOP) for the resale of non-subsidised HDB flats has been revised upwards to three years.

Announcing the change in Parliament on Friday, National Development Minister Mah Bow Tan said the objective of such a move was to reinforce the idea that HDB flats are for owner-occupation.

He stressed that flats are not meant for speculation or short-term profit.

And with the extension of the MOP, he said the demand in the resale market wi… Continue

SINGAPORE: HDB resale flat owners must occupy their flats for at least three years before they can sell them. The move is to further curb speculation in the HDB resale market.

But the board’s also extending help to genuine buyers by revising its second concessionary loan policy.

An HDB flat is meant for residents to live in not for short-term profit. It’s a message that housing authorities have repeatedly stressed in recent months.

And now, the government is acting fur… Continue

Turning old CBD offices into prime new homes

As Marina Bay financial district takes shape, developers are making exciting plans

By UMA SHANKARI

(SINGAPORE) Some one million square feet of office space in the Central Business District (CBD) is likely to be converted into at least 1,000 private homes over the next three years.

Great response: CityDev launched its One Shenton project in January 2007, turning an office block into residen

… Continue