A more ‘balanced’ market

New rules for BTO applications have helped genuine public housing buyers: Mah

THE private market may have quietened, but the housing board resale market remains “quite active”, said Minister for National Development Mah Bow Tan.

:”Transactions are still strong – not as strong as six months ago, but still relatively strong,” Mr Mah said, on the sidelines of a community event yesterday.:

:”It’s a real demand, a real market for people to buy a flat to live in, unlike the private market where some people buy to live, some to invest, some for speculation. So long as there are new families being formed and new immigrants coming in, the HDB market will remain a very active one.”

Supply and demand, he added, was now more balanced. “Because of the uncertainty … people are a bit more cautious,” he said. “I think people realise that there’s adequate supply coming on stream, they don’t have to panic, we’re pushing out more Build-To-Order (BTO) flats. Those who can afford to wait, they’ll wait.”

As for the new rules for flat applicants, the minister was glad that they have had their intended effect.

Fewer applicants have come forward for the two recent projects in Punggol and Sengkang.

Launched last month by the Housing and Development Board (HDB), Compassvale Pearl in Sengkang and Punggol Sapphire attracted 4,050 applications for 1,485 flats – half the number of applications than before the new rules kicked in.

Under the new ruling, a first-time buyer who twice rejects an offer to buy a flat at a Built-To-Order or balloting sales exercise will lose his first-timer priorities for a year.

“The intent is really to encourage people registering for flats to take their applications seriously and, in that sense, the changes had some positive impact. That will ensure that those who really need a flat will be able to get a flat,” said Mr Mah yesterday on the sidelines of a community event. 

Source : Today – 16 Jun 2008

Public housing transactions not as high as 6 months ago

There is no slowdown in the public housing market, but National Development Minister Mah Bow Tan has said the number of transactions may not be as high as six months ago, as the market is now more balanced with an adequate supply of new flats being offered by the Housing and Development Board.

He was speaking to the media at the sidelines of a constituency event on Sunday.

Mr Mah said, “The economy is still strong but because of the uncertainty, because of what’s happening overseas, people are a bit more cautious, (and) supply and demand is a bit more balanced.

“I think people realise that there’s adequate supply coming on stream, they don’t have to panic, we’re pushing out more Build-To-Order flats. Those who can afford to wait, they’ll wait.”

Meanwhile, Mr Mah also gave an update on the cycling warden trial in Tampines.

He said a townhall forum was held with residents last week and talks are still underway with the Traffic Police and the Land Transport Authority.

He expects the decision to be made before the end of June on whether the trials will be stopped, extended for another six months to a year or made a permanent feature. – CNA/ms

Source : Channel NewsAsia – 15 Jun 2008

Marsiling goes BTO: Straits Vista project launched as HDB wins UN award

TO help meet demand for flats in the northern part of the island, the Housing and Development Board (HDB) yesterday launched a: Build-To-Order (BTO) project in Woodlands town called Straits Vista @ Marsiling.

The project, comprising 50 units of three-room and 332 units of four-room flats, is located near the Woodlands Regional Centre and is served by the Woodlands MRT station and bus interchange.

It is the HDB’s first project in the area in recent years. Those interested have until: June 23 to submit their applications.

The launch of the latest BTO project came even as the construction industry continues to grapple with rising costs.

:Speaking at a separate event yesterday, National Development Minister Mah Bow Tan said that the HDB is containing construction costs as much as it could, such as by simplifying some of the projects, or by combining them to enjoy greater economies of scale.

It is also using more economical materials and reducing the construction pressure by withholding some projects so that it does not add to the demand for construction, said Mr Mah during a visit to the HDB headquarters at Toa Payoh yesterday to congratulate its staff for winning the United Nations Public Service Award.

But Mr Mah assured Singaporeans that HDB flats would continue to be sold at discounted prices while the Main and Interim Upgrading Programmes will continue, reported Channel NewsAsia.

According to the HDB, the UN award is in recognition of the Home Ownership Programme, which has successfully provided over 80 per cent of Singaporeans with affordable quality flats, with 95 per cent of them owning these homes.

In his speech, Mr Mah noted that the HDB will continue to face challenges as it strives to meet the housing needs of a growing population with different needs and aspirations.

“As we welcome a larger and more diverse population into our fold, the challenge for HDB is to find innovative ways to accommodate everyone in a comfortable way, without compromising our living environment and social cohesion.

“We will need to ensure that public housing can help achieve the twin objectives of meeting the housing needs of the majority of the population, as well as providing a social safety net for lower-income Singaporeans,” Mr Mah said.

And with the growing ageing population, the HDB “will need to focus on meeting the housing needs of the more vulnerable groups, such as the elderly and the lower-income, so that they can level up with the rest of the population,” he added. -AGENCIES

Source : Today – 11 Jun 2008

HDB wins UN Public Service Award for home ownership programme

Singapore’s public housing agency – Housing and Development Board (HDB) – has been given the United Nations Public Service Award.

HDB said the award is in recognition of the Home Ownership Programme, which has successfully provided over 80 per cent of Singaporeans with affordable quality flats, of them 95 per cent own these homes.

Describing it as a significant milestone in its history, HDB said the award represents the international community’s recognition of Singapore’s public housing programme.

National Development Minister Mah Bow Tan visited the HDB headquarters at Toa Payoh on Tuesday to congratulate the management and staff on this achievement.

In his speech, Mr Mah spoke on the dual challenges of providing for more vulnerable groups such as the elderly and the lower-income, as well as making HDB flats attractive to more well-off Singaporeans.

He also felt that a shared experience of HDB living was important to developing a collective Singapore identity.

HDB’s “Remaking Our Heartland” programme is set to give new, middle-aged and old HDB estates a major makeover, to turn them into “vibrant homes.”

Source : Channel NewsAsia – 10 Jun 2008

HDB launches Build-To-Order project in Marsiling

The Housing and Development Board (HDB) on Tuesday launched a Build-To-Order (BTO) project called Straits Vista @ Marsiling.

The project is located near the Woodlands Regional Centre, and is served by Woodlands MRT station and bus interchange.

HDB advised potential buyers to plan ahead for their housing needs, since BTO flats take a few years to complete.

It said couples planning to get married should book their flats under the Fiance-Fiancee Scheme.

Couples with at least one partner aged 30 or below can also apply for the Staggered Downpayment Scheme to defer paying half the downpayment until they get the flat.

Applications for the new flats can be submitted from now till 23 June on HDB’s InfoWEB. – CNA/ac

Source : Channel NewsAsia – 10 Jun 2008

HDB upgrading pace will continue despite rise in construction costs

National Development Minister Mah Bow Tan said the Housing and Development Board (HDB) is containing construction costs as much as it could even though they have gone up significantly recently.

HDB is doing this by simplifying some of the projects or by combining them so that there are more economies of scale. A recent example is the Punggol Sapphire project which has more than a thousand units against the usual number of some 500 units per project.

But Mr Mah assured Singaporeans that public flats would continue to be affordable, despite the rising costs. The pace of HDB upgrading under the Main and Interim Upgrading Programmes will also not be affected by rising costs.

Mr Mah was speaking to reporters on Tuesday after an event to congratulate the HDB for winning the United Nations Public Service Award.

HDB said the award is in recognition of the Home Ownership Programme, which has successfully provided over 80 per cent of Singaporeans with affordable quality flats, of them 95 per cent own these homes.

While the challenges for public housing today may be different, they are no less formidable than those faced by the HDB when it started Singapore’s public housing programme in 1960.

HDB said flat buyers now have varying aspirations. There is also the challenge of differing income levels. So the HDB will continue to meet the housing needs of the majority as well as lower income Singaporeans.

Mr Mah said: “Someone with an income of S$1,000 to S$1,500 is eligible to rent a flat. But I would much prefer that they would own a flat, even if it is a small flat because from there, they can build a base, earn some assets and later on when they do well in life, they can upgrade.”

Mr Mah added that another challenge is to rejuvenate the older housing estates so that Singapore maintains the quality of living in these estates and the value of the flats.

But HDB’s immediate task is to tackle rising costs as the construction industry has not been spared from the global phenomenon of increasing prices of raw materials.

He said: “Raw material prices and energy prices have increased. All these are feeding through into the construction cost index for the moment. What we have to do first is to manage the costs as much as we can by simplifying some of the projects or by combining them so that there are more economies of scale, (and) by using more economical materials.”

Mr Mah said that the government is also helping to reduce the construction pressure by withholding some projects. But the minister added that the government does not expect a major delay in the completion of the two mega integrated resort projects due to rising construction costs. – CNA/vm

Source : Channel NewsAsia – 10 Jun 2008

Chip Eng Seng wins $124m contract to build HDB flats in Sengkang

Chip Eng Seng has won a $124m HDB contract to build five residential blocks in Sengkang.

The contract also includes the construction of a multi-storey car park, with a planned community facility on the first floor and a precinct pavilion.

Construction is expected to begin this month, and be completed by 2011.

The new contract brings Chip Eng Seng’s current order book to a total of $755 million.

Earlier this year, Chip Eng Seng won a HDB contract to build some 1,400 housing units in Queenstown.

The group also has other HDB projects under its belt, including the 50-storey Pinnacle@Duxton. – CNA/ir

Source : Channel NewsAsia – 9 Jun 2008

Flat-buyers: Think through options

I REFER to “Building Brics for HDB” (May 27) from Wong Weng Keet.

The new flat application process aims to encourage flat-buyers to think through their housing plans and options carefully before they apply for a flat.

We would like to clarify that under the revised procedures, the priorities under the Married Child Priority Scheme (MSCP) are not “cancelled out”. Those applying under MSCP will continue to enjoy twice the chances over other applicants.

As land available in mature estates for new flat development is limited, the demand for new flats far exceeds the supply there. As such, whatever the system of allocation, flat applicants’ chances of success of securing a new flat in a mature estate are likely to be low.

Those who are interested in new flats should instead consider Built-to-order (BTO) flats in non-mature estates, where the bulk of the Housing Development Board’s (HDB) new flat supply is being offered.

To help the small number of first-time home-buyers who have been repeatedly unsuccessful in their applications for BTO flats in non-mature estates, they are given additional chances for their subsequent applications.

We thank the reader for his suggestions. HDB will monitor and review the flat application process regularly to meet the needs of HDB flat buyers, and will take his suggestions into consideration when it does so.

Kee Lay Cheng
Deputy Director (Marketing and Projects)
for Director (Estate Administration and Property)
Housing and Development Board

Source : Today – 5 Jun 2008

Sim Lian Land puts in top bid of S$52m for Simei Road site

Only two bids were received in the tender for a residential site at Simei Road, which is being launched under HDB’s Design, Build and Sell Scheme.

Property developer Sim Lian Land put in the top bid of S$52 million. The price works out to S$1,472 per square metre of gross floor area.

AMK Development put in the lower bid of S$37.2 million or S$1,055 per square metre of gross floor area.

The parcel spans 16,825 square metres and is slated for public housing. It has a lease of 103 years and a maximum allowable gross floor area of 35,333 square metres.

HDB will announce the winning bid within the next two weeks. – CNA /ls

Source : Channel NewsAsia – 3 Jun 2008

Singapore Poly students submit ideas to remake Punggol Town

The Housing Development Board (HDB) is tapping on the minds of Singapore Polytechnic (SP) students, to remake Punggol Town. The call for ideas is also extended to the general public.

Gabriel Seah, a landscape and architecture student from SP, said: “The first thing that came to my mind will be wetlands. As we all know, the discharge of storm water into the river, or even into the sea is unfiltered. So before all these things get into the sea, I hope we can create a wetland, and filter off all these substrates and nutrients.”

Lin Xiong, an architecture student from SP said: “I like the idea of a multi-storey car park, where they turn its roof into a ‘green’ roof – (creating) a recreational space for the neighbourhood to bond together.”

The students’ suggestions fall under HDB’s ‘Call for Ideas’ competition which aims to incorporate the wishes of Punggol residents.

As Punggol is dubbed the ‘Waterfront Town of the 21st century’, expectations for the developments are high. And so far, the HDB has been encouraged by what it has heard.

Chong Fook Loong, Deputy Director, HDB, said: “I think they’re good. The students don’t have a group-think mentality. They think quite differently from each other. Based on the patterns that are emerging, I think the ideas are refreshing. I think there are good ideas there that we can make use of later.”

The public can also submit their ideas by sending them to the HDB website at http://www.hdb.gov.sg.

The competition closes on June 30. Those whose ideas are in the top 10 will each win S$1,000. – CNA/vm

Source : Channel NewsAsia – 3 Jun 2008