20% of HDB loan applicants asked for larger loans

Posted on 2 Mar 2016 | Comments Off on 20% of HDB loan applicants asked for larger loans

There were about 200,000 qualified applications for an HDB Loan Eligibility (HLE) letter from 2012 to 2015, revealed National Development Minister Lawrence Wong during a parliamentary session on Tuesday (1 March), reported Channel NewsAsia.

Flat buyers need to request for an HLE letter before they can obtain an HDB concessionary housing loan for their flat purchase.

Of this figure, 20 percent, or 40,000 of those who applied for the letter, appealed for a higher mortgage. Most did so to increase their housing options without stating an exact loan amount. Mr Wong was responding to a query from Non-Constituency MP Leon Perera.

“Over one in three of such appeals were successful,” he said in a written reply. The rest were not granted as the applicants could not prove that they have the resources to repay the larger loan.

“As a flat purchase is a long-term financial commitment, it would not be prudent for potential home buyers to take on additional financial burdens that they are unable to sustain,” he added.

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79% of young couples will consider a smart home

Posted on 2 Mar 2016 | Comments Off on 79% of young couples will consider a smart home

Around 79 percent of young couples in Singapore will consider living in an executive condominium (EC) enabled with smart technologies, according to results from an online survey carried out earlier this year by Qingjian Realty.

The study polled 100 respondents between 20 to 40 years old, to measure their attitudes towards smart living.

Among those surveyed, 63 percent said they are willing to pay $30,000 to $40,000 to furnish their home with smart technologies, including security features, electronics and appliances.

Convenience, energy efficiency and safety were listed among the top smart home features that would appeal to them. Other features that respondents would like to see are smart lighting, smart air-conditioning and smart security.

“We are working on translating this idea of a model futuristic home into one where a home is fitted with smart technologies that are available and practical for people in Singapore,” said Li Jun, General Manager, Qingjian.

“The inputs from these young couples have further enhanced our understanding of potential homeowners’ views.”

The survey was conducted amid plans by Qingjian to launch Singapore’s first Smart EC, The Visionaire in Sembawang in April.

Several new private condominiums launching this year are also adopting smart home technologies. For instance, The Wisteria condo in Yishun, which launches in March, will have features that allow homeowners to remotely control door access and air-conditioning via a smart device.

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Posted in HDB

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