Raised income ceiling effective immediately: Khaw

[mr funny]

http://www.todayonline.com/Business/...ediately--Khaw

Raised income ceiling effective immediately: Khaw

Housing chief gives reassurance that construction industry can cope with increased supply of BTO flats

by Ong Dai Lin

Updated 12:54 PM Aug 15, 2011


SINGAPORE - The construction industry will be able to cope with the demand of building new flats, said National Development Minister Khaw Boon Wan.

The Housing and Development Board (HDB) announced today that they would be building 25,000 new build-to-order (BTO) flats next year.

The HDB also announced today that they will launch 5,500 BTO flats in September and 4,000 BTO flats in November, in various towns including Punggol, Sengkang, Hougang, Yishun, and Jurong East.

The HDB said these two launches will bring HDB's total BTO supply this year to 25,000 flats.

Mr Khaw added that HDB staff were working round-the-clock to ensure that they delivered these new homes to Singaporeans.

The revised income ceiling, announced by Prime Minister Lee Hsien Loong at yesterday's National Day Rally speech, will take immediate effect, Mr Khaw added.

This means the income ceiling for couples looking to buy a BTO flat will be S$10,000 - up from S$8,000 - while the ceiling for Executive Condominiums is now S$12,000, up from S$10,000.

Also reflecting Mr Lee's call yesterday for members of the public to be less demanding when dealing with front-line officers in the civil service, Mr Khaw urged Singaporeans to be patient with HDB counter staff and to be understanding when communicating with them.

[Regulators]

passing laws like going to toilet for a pang sai session as usual

[devilplate]

passing laws like going to toilet for a pang sai session as usual

Anyting wrong ?

The showflats rules n guidelines until now haven enforced....

[ysyap]

Govt realized the potential oversupply come 2013 therefore quickly relaxed the income ceiling to ensure that HDB flats will be sold and no oversupply to let public criticize their oversight! This will just leave the private sector to manage their own problem!

[ysyap]

Anyting wrong ?

The showflats rules n guidelines until now haven enforced....

Yeah man... wonder what's taking the authorities so long to implement those showflat guidelines! Its really long long overdue. So many new launches recently still portraying pseudo impression. What you see is not what you get!

[hyenergix]

Yeah man... wonder what's taking the authorities so long to implement those showflat guidelines! Its really long long overdue. So many new launches recently still portraying pseudo impression. What you see is not what you get!

Government still has to depend on developers to bid and pay for the land. Why is there a need to be so harsh to your customers?

[ysyap]

Government still has to depend on developers to bid and pay for the land. Why is there a need to be so harsh to your customers?

The bigger customer pool is the buyers, not developers. If buyers don't buy, developer will move to foreign lands and leave Singapore. If buyers buy, they will take loans and continue to contribute to our economy! Then bankers, lawyers, contractors, etc will still provide job opportunities! So govt depend more on buyers so need to enforce the showflat ruling quickly.

[hyenergix]

The only reason I can think of is the government doesn't want the property market to crash with further measures, as property market is already peaking and its crash will have serious repercussions.

[devilplate]

The only reason I can think of is the government doesn't want the property market to crash with further measures, as property market is already peaking and its crash will have serious repercussions.

I dun mind if govt remove 4yrs ssd and at the same time enforce the showflat regulations

[ysyap]

I dun mind if govt remove 4yrs ssd and at the same time enforce the showflat regulations

Who would mind? Removing 4yr SSD is like finding the oasis in the parched desert!

[kingkong1984]

Raised income ceiling is just like raising selling prices. When prices of petrol goes up, everything else follows too.

Everything will be priced higher in nominal terms, it's the real value that matters.

[irisng]

If income ceiling are raised, more Singaporeans will be eligible to buy the new BTO and EC. That means there will be more demand, so will the price for these 2 types of development increase in future. But people already complain that public housing are so expensive, so . Is the govt solving the price problem for the public housing?

[kingkong1984]

It's just like raising bus fare. When bus become congested, fare up again.

[kane]

It should firm up demand at the base level of housing, BTO and EC.

[irisng]

If the price for the public housing keeps on increasing and if it comes to a day when the gap between the public housing and lower-average class pte ppty becomes narrower, then I think those with ready cash will prefer pte ppty.

[kane]

If the price for the public housing keeps on increasing and if it comes to a day when the gap between the public housing and lower-average class pte ppty becomes narrower, then I think those with ready cash will prefer pte ppty.

That's probably the next step after the consolidation of demand at the base level.

[ysyap]

If income ceiling are raised, more Singaporeans will be eligible to buy the new BTO and EC. That means there will be more demand, so will the price for these 2 types of development increase in future. But people already complain that public housing are so expensive, so . Is the govt solving the price problem for the public housing?

Since EC prices are controlled by private developers, it will surely move up. BTO prices are more controlled. Govt is certainly solving the problem of high demands from Singaporeans as well as the imminent foreign tap opening! Not so sure about price problem! Govt will say either one or the other!

[Allthepies]

If income ceiling are raised, more Singaporeans will be eligible to buy the new BTO and EC. That means there will be more demand, so will the price for these 2 types of development increase in future. But people already complain that public housing are so expensive, so . Is the govt solving the price problem for the public housing?

The government is spoon feeding singaporeans group by group. First they spoon feed the 8 to 12 k group of complainers. After tat they will think of ways to spoon feed the other groups. So don't worry, sooner or later ur group will receive the spoon I'm waiting eagerly for the spoon to reach my group too

[irisng]

The government is spoon feeding singaporeans group by group. First they spoon feed the 8 to 12 k group of complainers. After tat they will think of ways to spoon feed the other groups. So don't worry, sooner or later ur group will receive the spoon I'm waiting eagerly for the spoon to reach my group too

Feeding is feeding but hope that they don't interfere with the pte ppty including EC since EC price is controlled by the pte developer. I always think that HDB flat should be sold at a subsidize rate.

[kingkong1984]

That's why I said before, hdb price increase moderately.

Condo prices increases much faster. The gap between them will widen.

Then people will start to complain again. Their assets are not appreciating as fast.

[buttercarp]

That's why I said before, hdb price increase moderately.

Condo prices increases much faster. The gap between them will widen.

Then people will start to complain again. Their assets are not appreciating as fast.

Then it will be more difficult for HDB dwellers to upgrade to private property and this group may complain.
However this group is the minority, so it is not significant.
Moreover they still have a roof over their head.

[kingkong1984]

That's what they want right?

But if no upgrader pool, buyers are harder to find.

Price High no use, no deals like wat us going on now... Asking prices very high, buyers a handful only.

[jwong71]

That's what they want right?

But if no upgrader pool, buyers are harder to find.

Price High no use, no deals like wat us going on now... Asking prices very high, buyers a handful only.

condos asking high prices, when bank valued high due to high volume of transactions and prices.

when low or no transactions, no high valued by banks and no high prices to ask for..

chicken and egg game

[buttercarp]

That's what they want right?

But if no upgrader pool, buyers are harder to find.

Price High no use, no deals like wat us going on now... Asking prices very high, buyers a handful only.

So have to depend on FT .
Actually the group of people applying for HDB that should be given greatest attention are the first timers.
Resale market no need to control so much.
I still remember when I was waiting for my flat, they had the transitional rental flat scheme where rental was about $300 per month for a 3 room HDB flat. That reply helped alot and as a result, I was able to start a family at an earlier age.

[ysyap]

That's what they want right?

But if no upgrader pool, buyers are harder to find.

Price High no use, no deals like wat us going on now... Asking prices very high, buyers a handful only.

High asking price will not last long if there are only a handful of buyers only. In our context, the buyers are still appearing from every corner of the country. The numbers just won't go down, even in ghost month, new launches are still packed and the recent VVIP boathouse and Luxurie both hit 3 figure sales already! Now that ghost month has just ended, will this number drop? I seriously doubt.

[marktkt22]

Mkt not as hot, it cooling down.
By mid 2012, trend will be more obvious

[ysyap]

Mkt not as hot, it cooling down.
By mid 2012, trend will be more obvious

mid 2012 is still some 10 months away! Anything can still happen. At least for the near future, prices will continue to be strengthened as 2011 draws to a close!

[kingkong1984]

Not logical... If singaporeans are buying into EC and BTO etc... Who is going to soak up PC when the tap is only dripping and not flowing.

I drive pass one Leicester and I think some units are still empty... Expressway views. How long did it TOP? Holding power is there but buyers?