Tag Archives: Housing Development Board

Thomson area becoming a concrete jungle

Posted on 4 Jul 2012 | Comments Off on Thomson area becoming a concrete jungle

I live in Sin Ming and was surprised recently to see a large billboard by the Housing and Development Board near my estate advertising a tender for a 99-year lease for a piece of land between my HDB estate and the Thomson View condominium.

The tender is open for a HDB estate, condominium or landed property.

There are already quite a number of building projects along Thomson Road and, given the traffic situation in the mornings and evenings, is it feasible to keep increasing the number of residents in the area without alleviating traffic conditions?

In any case, should priority for land not be given for the building of public housing over a tender for both public and private housing, or building amenities for existing residents?

Our area is cluttered with so many new buildings (including Midview City) that it has become a concrete jungle next to a natural one.

I wonder what the HDB’s take on this matter is.

From Benjamin Ho

Source : Today – 2012 Jul 3

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Posted in General, HDB

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Lower COVs driving demand for resale flats

Posted on 4 Jul 2012 | Comments Off on Lower COVs driving demand for resale flats

After falling more than 20 percent in Q1 of this year, cash-over-valuation (COV) figures for resale HDB flats seem to be stabilising and luring buyers back into the market, according to experts.

In Q2, HDB’s resale price index (RPI) climbed 1.3 percent quarter-on-quarter from 191.6 to 194, an indication that flat prices were higher than in the period before.

“The stronger price growth exhibited could be a result of decreasing COVs and increasing valuations in the market,” said Eugene Lim, Key Executive Officer at ERA Realty Network.

“Valuations are catching up with selling prices and median COVs have been reduced to S$25,000 in June 2012. Reduction in COVs encourages buyers to commit to flat purchases resulting in rising resale prices.”

At the same time, transaction volumes grew eight percent to 5,549 from 5,126 in Q1, based on data from ERA.

Industry watchers noted that the climb is due to the increasing number of second-timers opting for resale units instead of Build-to-Order (BTO) flats.

Mohamed Ismail, Chief Executive Officer at PropNex Realty, said: “With the moderation of HDB resale prices in Q1 2012, buyers who did not qualify under the BTO purchase requirements like the singles, permanent residents, HDB upgraders and downgraders, are still purchasing in this market segment.”

The estates that witnessed the highest number of Q2 resale transactions include Yishun (median resale price: S$377,000), Woodlands (median resale price: S$415,000) and Jurong West (median resale price: S$449,000).

Source : PropertyGuru – 2012 Jul 3

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Posted in HDB

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