Tag Archives: HDB

BTO projects continue to see strong demand

Posted on 24 Feb 2010 | Comments Off on BTO projects continue to see strong demand

The two latest HDB Build-to-Order or BTO projects – Punggol Crest and Treegrove@Woodlands – are seeing strong demand.

The number of applications received so far was four times the number of units available. The more popular ones are the bigger flats.

There were some 2,600 applicants for 270 4-room units at Punggol Crest. The 372 4-room units on offer at Treegrove saw 2,390 applicants.

But the 2-room units at Punggol Crest are less popular. So far only 75 people applied for the 240 units.

The selling price for the Punggol Crest flats ranges from S$90,000 for a 2-room flat to S$301,000 for a 4-room flat.

For the Treegrove project, the price ranges from S$64,000 for a studio apartment to S$288,000 for a 4-room flat.

Applications for the two BTO projects close later Wednesday.

Source : Channel NewsAsia – 24 Feb 2010

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Impose stamp duty on third flat

Posted on 24 Feb 2010 | Comments Off on Impose stamp duty on third flat

I READ with interest Monday’s report, “HDB review: Findings out next month”.

I greatly commend the Government’s timely and wise measures to curb speculation in HDB flats. There are clear signs of market exuberance and that could result in a real estate bubble at some unpredictable time.

People now have to pay a new stamp duty of about 3 per cent if they sell their properties within a year of buying them. Plus, financial institutions like banks can now grant housing loans of up to only 80 per cent of a property’s value, compared to 90 per cent previously.

I suggest that flat owners who have sold their homes twice also pay the 3 per cent stamp duty when they make their third sales transaction, even if they had lived in their last flat for more than three years.

Simultaneously, when these flat owners buy another flat from the resale market, they should also pay the 3 per cent stamp duty.

The authorities must also be aware of and take action against unprofessional market practices common among property agents, sellers and buyers. This includes intentional under-declaring of the value of flats for sale. Such actions could further spur market speculation in HDB resale flats.

Teo Kueh Liang

Source : Straits Times – 24 Feb 2010

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Posted in Cooling Measures, HDB

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