hdb

HDB November sales exercise – launches 10,118 flats

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New HDB flats accounted for over half of the units found for sale.

The Housing and Development Board (HDB) started 10,118 flats for sale on Tuesday (22 November) in its biggest sales activity in 2016.

Build-To-Order (BTO) flats accounted for over half of the units started for sale, with 5,110 units spread across nine projects. Of these, three projects are positioned in the non-mature estate of Punggol, while the other six are within the mature estates of Bedok, Bidadari and Kallang Whampoa.

Meanwhile, the remaining 5,008 equilibrium flats are spread across 11 non-mature and 14 mature estates.

Prices begin from $75,000, excluding grants, for a 2-room Flexi unit in a non-mature town to $525,000 for an executive flat in a mature town.

The Housing Board noted that the launching brings the overall BTO and balance flats supply this year to 17,891 and 10,178 units, respectively. This works out to an entire flat supply of 28,069 units.

Lim Yong Hock, Essential Executive Officer at PropNex Realty, anticipates flats in mature estates to receive a higher subscription rate of between four to eight times, while those non-mature estates will see a subscription rate of one to three times. Also, year 2017 will see more good private condo launching by prestigious developers like the one near Tanah Merah MRT, Grandeur Park Residences

“HDB BTO entire subscription rates for this year have dropped from 4.7 in February to 3.7 in May and 2.3 in August,” he noted.

“We forecast that this last BTO launching for the year will see an average rate of three to five times due to more matured estates released this time round. ”

The newest activity will close on 28.

The next BTO launch will likely be held in February 2017, with about 4,100 flats offered in Clementi, Tampines, Punggol and Woodlands.

hdb

Until 2017, Fat Hope of Getting Any Relief of Cooling Measures!

property-spore

The cooling measures are here to curb the property prices as the past few years, the property prices have been on the increasing side. This definitely dampen the property buying and investing mood in Singapore. Let’s read how the the experts have to say about the ease of cooling measures.

Singapore house prices have been dropping over the past 11 straight quarters, its longest losing streak.

Research Head at JLL Southeast Asia, Dr Chua Yang Liang, said the possible retrieval range will probably be driven mainly by a pick-up in the prime residential marketplace, and in line with GDP increase.

“(Singapore’s home costs) are close to a trough with economic conditions steady and physical marketplace states balancing …

Meanwhile, increase in demand within the mass market section will continue to be slow, with sluggish cost adjustments contemplating supply overhang and the policy measures. Chua also anticipates the residential rental market to stay soft.

The government has been unwilling to revoke the property cooling measures, despite continued calls from property developers and realtors for the measures to be facilitated.

Singapore saw private home costs soar by more than 60 percent following the 2009 International Financial Catastrophe to peak in Q3 2013.

However, property specialists will not anticipate the property cooling measures to be facilitated soon.

I believe the first will be 2017 because we’ven’t quite achieved the double digit cost correction that they need,” said Head, Selena Ling, Treasury Research and Strategy, OCBC.

DId you know Straits Mansions is the next upcoming landed that is going to launch soon?

URA flash estimates released this month show the private residential property price index fell by 0.4 percent in Q2, a little improvement from the 0.7 percent decline shown in the first quarter.

To conclude, personally we feel that the cooling measures only affect the private sectors especially the resale market. New launch projects are still seeing healthy take up rate, like the Gem Residences which took a 51% sold out during the first day of launch!