Tag Archives: HDB

Pinnacle in name, and in pricing too?

Posted on 6 Sep 2009 | Comments Off on Pinnacle in name, and in pricing too?

HDB has 111 units left for sale, and property agents say five-room flats could top $700k
The 50-storey Pinnacle@Duxton will have features seen only in top-end private properties, such as skybridges. — ST PHOTO: ALPHONSUS CHERN

Property agents expect that the remaining 111 units of the iconic Pinnacle@Duxton in Tanjong Pagar, when sold, will make them the costliest public flats ever.

Built by the Housing Board, the 1,848-unit Pinnacle@Duxton is its tallest project at 50 storeys.

It will be completed by the end of the year.

The agents said that in the current property boom, the five-room units, the largest, may well fetch $700,000 or even more.

A likely spillover is that surrounding resale HDB flats will see their value rise appreciably.

The 111 units have yet to be put on sale – HDB could not say when but it did add that the units are a mix of four-room units of up to 97 sq m and five-room types of up to 108 sq m. Continue reading →

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Posted in HDB, New Launches

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Singaporeans up in arms over rising prices of HDB flats

Posted on 5 Sep 2009 | Comments Off on Singaporeans up in arms over rising prices of HDB flats

A deluge of letters were published in the Straits Times forum today protesting against rising prices of HDB flats and imploring HDB to do something to solve the problem!

Despite repeated reassurances from the government that HDB flats remain affordable, the latest coming from National Development Minister Mah Bow Tan, many Singaporeans apparently are not convinced by their arguments.

The writers expressed their disagreement and dissatisfaction with the official response from HDB penned by its Deputy Director Mr Ignatius Lourdesamy who wrote that “HDB flats remain affordable to eligible first-time households as they use between 21 to 25 per cent of their monthly income to service their loans on new and resale HDB flats which are well below the international affordability benchmark of 30 per cent. “(read letter here)

Ng Kok Lim questioned if it is realistic for the market value of flats to be determined by professional valuers. (read letter here)

He wrote:

“Valuers base their valuations on recent transactions, which is as good as being determined by ‘willing buyer, willing seller’, with all its associated problems I have described. Continue reading →

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Posted in HDB

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