Category Archives: HDB

Woodlands EC project oversubscribed 2.3 times

Posted on 22 Apr 2013 | Comments Off on Woodlands EC project oversubscribed 2.3 times

Twin Fountains, a new executive condominium (EC) jointly developed by Frasers Centrepoint and Lum Chang, has received overwhelming response from buyers, with over 963 applications at the end of the e-application process yesterday.

This means the project was 2.3 times subscribed, based on the 418 units released for sale.

“We are encouraged by the strong response as it goes to show that there is indeed pent-up demand for EC homes in Woodlands, especially from upgraders,” said Cheang Kok Kheong, CEO of Frasers Centrepoint Homes.

Around 32 percent of applicants were first-time buyers, while second-timers accounted for the remainder.

Comprising 418 units in eight 14-storey blocks, it is the first EC launched in Singapore this year and at the Woodlands area since 2005.

Set to be completed in October 2016, Twin Fountains features a variety of units including two-bedroom suites, three- and four-bedroom apartments and a mix of TRIO (dual-key) units. Prices start from S$580,000.

Successful applicants can visit the showflat at the junction of Woodlands Avenue 6 and Woodlands Drive 16 on 11 May to book units.

Source : PropGuru – 22 Apr 2013

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Removing income ceiling for new HDB flats will drive up demand

Posted on 20 Apr 2013 | Comments Off on Removing income ceiling for new HDB flats will drive up demand

Recently, National Development Minister Khaw Boon Wan floated a radical idea to remove the income ceiling for new HDB flats.

Some industry players said the suggestion would make public housing even more accessible to Singaporeans, but could raise some concerns.

Currently, the household income ceiling for new Built-to-Order flats is S$10,000 and for executive condominiums S$12,000.

Analysts said removing the income ceiling would definitely drive up demand for new HDB flats as more people would be eligible to buy them.

That, in turn, would crimp demand for entry-level private condominiums.

Apart from obvious impact on the property market, analysts said it would have implications on how the government re-distribute wealth to Singaporeans too.

DWG’s senior manager of training, research and consultancy, Lee Sze Teck, said: “Your service and conservancy charges rebate or even Workfare Income Supplement to the lower income families and all these are actually tied down to the annual value of the home.

“When you remove the income ceiling, we are talking about people who are well to do, coming into the HDB market and getting financial assistance in this way. What will be the impact on society?

“What will those needy or who are at the the lower end of the income group think of such a move?”

Source : CNA

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