Daily Archives: 5 Sep 2009

Condo-style HDB flat prices going up

Posted on 5 Sep 2009 | Comments Off on Condo-style HDB flat prices going up

Increases of up to $20k surprise analysts, given buyers’ income ceiling
The 480-unit Natura Loft at Bishan – an example of HDB’s Design, Build and Sell Scheme – is now more than 80 per cent sold, up from 75 per cent just a month or so ago. Developer QingJian Realty has raised prices by between $5,000 and $20,000 on the back of an improved market. — PHOTO: QINGJIAN REALTY

PROPERTY developers have raised the prices of condominium-style public flats for the first time since their inception, in a bid to ride the mass market property boom.

A check by The Straits Times revealed that prices of flats at Natura Loft at Bishan and The Peak@Toa Payoh have risen by up to 3 per cent, or $20,000, depending on the attributes of the flats.

This move has surprised industry analysts, as buyers of such hybrid flats under the Housing Board’s Design, Build and Sell scheme (DBSS) have a fixed household income ceiling of $8,000.

‘The prices are higher but the income ceiling is still the same. These buyers are unlikely to have seen their wages rise, given the recent recession,’ said one industry analyst who declined to be named. Continue reading →

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Facelift for 13 more HDB estates

Posted on 5 Sep 2009 | Comments Off on Facelift for 13 more HDB estates

ABOUT 23,000 households across 13 HDB estates islandwide will soon see improvements to their neighbourhoods, from new covered linkways and drop-off porches to new playgrounds and letter boxes.

The Housing Board yesterday announced the rejuvenation of these estates at a cost of $86.1 million under its Neighbourhood Renewal Programme (NRP).

Under the scheme, residents have a big say in determining the look and feel of their estates by giving feedback to their town councils before such plans are set in stone.

For example, Tampines residents will be given three architectural designs to choose from and provide feedback on. At least 75 per cent of residents must vote for the final design in order for work to proceed.

Tampines was one of the first sites selected for the NRP exercise. Full details of the newly selected 13 sites will be announced over the next few months, said HDB.

National Development Minister Mah Bow Tan said yesterday that the Government is committed to rejuvenating HDB estates even during times of economic uncertainty. Continue reading →

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