More housing concepts sought

Posted on 10 May 2013 | Comments Off on More housing concepts sought

Professionals, managers, engineers and technicians (PMETs) in Singapore expect more private housing options, said Dr Chua Yang Liang, Research Head at Jones Lang LaSalle in a recent workshop.

This group of buyers are “more well-read, well-travelled and more discerning consumers”, he noted.

Meanwhile, the government’s Population White Paper revealed that PMETs are expected to account for two-thirds of the country’s workforce by 2030. As such, the greater demand for more private housing types could pressure developers into building such homes.

These could include cluster homes (landed properties with shared facilities), along with different housing designs and more lifestyle concepts.

Although public housing in Singapore is already “quite varied”, its definition might change to cater to the needs of the younger generation, explained Dr Chua.

He said that Singapore should also adopt a “pro-population economic-growth strategy” given the low fertility rate, adding that “with low population growth, housing stock growth could exceed population needs”.

Source PropGuru – 9 May 2013

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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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