Category Archives: HDB

Other HDB options available for retirees living in private homes

Posted on 9 May 2013 | Comments Off on Other HDB options available for retirees living in private homes

We refer to the letter “Loosen HDB rules for seniors living in private homes” (May 3) by Mr Ng Eng Hin. We understand Mr Ng’s intention is to monetise his current private property for his retirement needs.

New Housing and Development Board (HDB) flats are highly subsidised and meant for those who meet certain criteria, such as families who neither own private properties nor exceed a set income ceiling.

To ensure that ex-private property owners do not compete with those households who have more pressing housing needs, they are allowed to buy subsidised public housing only 30 months after selling off their private property.

Besides buying a new flat from the HDB, there are other public housing options available to Mr Ng should he wish to sell off his private property and move to an HDB flat.

He could consider buying a resale HDB flat or a studio apartment with the substantial proceeds received, without having to wait 30 months.

FROM
LILY CHAN-WONG JEE CHOO, DIRECTOR (POLICY AND PROPERTY), HOUSING AND DEVELOPMENT BOARD

Source – Today – 8 May 2013

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Resale HDB flat prices to drop?

Posted on 7 May 2013 | Comments Off on Resale HDB flat prices to drop?

Prices of resale flats could change in the coming months as 50,000 newly-built flats are handed over to their owners, said National Development Minister Khaw Boon Wan.

At a recent dialogue session, he noted that the government has indirect influence on home prices even if buyers and sellers are the ones who set the trends.

Attended by over 40 participants, the dialogue focused on housing issues, reported My Paper.

Mr Khaw also clarified his previous comments on the executive condominium (EC) scheme, stating that they were wrongly reported. He said that it was not about the money EC owners could make when selling their properties, but the subsidy they get from the government as compared to other new flat buyers.

He explained that even if EC units are bought from developers, the land is still from the government, restricting them to build ECs and not private condominiums.

“This market subsidy, compared to the subsidy given to someone who buys a (new non-EC) three- or four-room flat, is much more,” said Mr Khaw, adding that it would be unfair if a higher-earning EC buyer receives a larger subsidy compared to someone who earns less and purchases a new non-EC flat.

Separately, the Minister also visited two HDB blocks in his constituency to distribute dengue-prevention leaflets in line with on-going awareness against the problem.

Source : PropGuru – 7 My 2013

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