HDB resale prices up while pte property moderates

[land118]

HDB prices still flying higher, KBW headache is still there, need to pump more & more supply

http://www.channelnewsasia.com/stori...156905/1/.html

HDB resale prices up while pte property moderates
Posted: 03 October 2011 0922 hrs

Singapore: Flash estimates on property prices show that buyers are willing to pay more for HDB resale flats while those purchasing private property are showing caution.

HDB's flash estimate of the 3rd Quarter 2011 Resale Price Index (RPI) climbed 3.8 per cent in the third quarter compared to the 3.1 per cent rise seen in the second quarter.

In the first three months of the year, the rise was 1.6 per cent.

The rise comes as the Housing & Development Board ramps up the supply of new flats.

Between January and September, the HDB has offered about 23,800 new flats for sale, with the latest being in September with a bumper supply of 8,262 flats being offered under the Built-to-Order (BTO) and Sale of Balance Flat exercises.

Next month,another 4,200 BTO flats will go up for sale in various towns, such as Bedok, Bukit Panjang, Hougang, Punggol and Yishun.

The HDB says it's on track to deliver 25,000 BTO flats for the whole of this year and next year, and flat buyers can look forward to a similar supply of 25,000 BTO flats.

The acceleration in public housing appears to have had some impact on private property with the Urban Redevelopment Authority (URA) reporting a modest 1.3 per cent rise in the third quarter flash estimates of the private residential property index, compared to the 2.0 per cent increase in the second quarter.

The rate of increase in private residential property prices which has moderated for the 8th consecutive quarter saw the biggest increase of 2.1 per cent for private non-landed property outside the central region.

The flash estimates, compiled based on transaction prices in caveats lodged and information on the number of new units sold, saw property in the rest of the central region registering a 1.1 per cent increase while those in the core central region rose 0.8 per cent.

- CNA/sf

[avo7007]

The acceleration in public housing appears to have had some impact on private property with the Urban Redevelopment Authority (URA) reporting a modest 1.3 per cent rise in the third quarter flash estimates of the private residential property index, compared to the 2.0 per cent increase in the second quarter.


- CNA/sf

BTO affect private pty but not resale hdb? What's going on?

[AK47]

They never want to admit. There is gross undersupply of HDB flats in the market due to years of under bulid.

Even with 25000 BTO units a year. It is insufficent to address the immediate shortage.

[avo7007]

They never want to admit. There is gross undersupply of HDB flats in the market due to years of under bulid.

Even with 25000 BTO units a year. It is insufficent to address the immediate shortage.

Not to mention that with the stricter HDB rules, many people are renting out instead of selling their flat while staying in private pty.

[ysyap]

BTO affect private pty but not resale hdb? What's going on?

With the world economy facing an uncertain future, potential HDB upgraders would prefer not to upgrade thus HDB resale supply drops. Also, 1st timers who don't qualify for BTO also are unwilling to plunge into the private housing market because of economic uncertainties therefore opting to go for HDB resale as a safer option.

[Wild Falcon]

OCR win again, despite having so many ECs to dilute the PSF to the lower end.

[Montaigne]

With the world economy facing an uncertain future, potential HDB upgraders would prefer not to upgrade thus HDB resale supply drops. Also, 1st timers who don't qualify for BTO also are unwilling to plunge into the private housing market because of economic uncertainties therefore opting to go for HDB resale as a safer option.

CAn't agree more.. Recently, getting a resale HDB did cross my mind. But after much consideration, we decided to wait for private and FREEHOLD hee hee...

[ysyap]

CAn't agree more.. Recently, getting a resale HDB did cross my mind. But after much consideration, we decided to wait for private and FREEHOLD hee hee...

So you belong to the upgrader or the first timer?

[Montaigne]

So you belong to the upgrader or the first timer?

First timer...

[flagship74]

First timer...

If u are eligible for BTO, as a first timer u should grab this opportunity..

[Montaigne]

If u are eligible for BTO, as a first timer u should grab this opportunity..

BTO out, but EC eligible. So it will be either EC or freehold for me For long term without the desire to move house frequently, freehold is preferable. At least can cash out at old age and downgrade. If buy EC, by the time old age, already depreciate alot.. May not be as good an option as getting freehold private.

[phantom_opera]

But for BTO buyer, after MOP if you buy private, must sell HDB right?

[Montaigne]

But for BTO buyer, after MOP if you buy private, must sell HDB right?

ARE U SURE? dun think so wor..

[avo7007]

But for BTO buyer, after MOP if you buy private, must sell HDB right?

Nope. You can keep your HDB and buy private pty after MOP. And that seems to be the on going trend. One family two houses. How to solve the HDB supply issue...........

[flxcat]

Nope. You can keep your HDB and buy private pty after MOP. And that seems to be the on going trend. One family two houses. How to solve the HDB supply issue...........

It seems to be the trend for most people to buy HDB and wait out the MOP then buy pte and rent out HDB to service the pte. The way to upgrade one's wealth.

[Regulators]

It has been happening for ages

It seems to be the trend for most people to buy HDB and wait out the MOP then buy pte and rent out HDB to service the pte. The way to upgrade one's wealth.

[Worsty]

It has been happening for ages

Is it still allowed though? Thought there's a change in rulings? Have to stay in the flat even if it's transferred to you and not that you bought it yourself.

[howgozit]

Is it still allowed though? Thought there's a change in rulings? Have to stay in the flat even if it's transferred to you and not that you bought it yourself.

Yah... that's what I thought too.

After MOP, you can buy private but must remain staying in HDB if you want to keep both. Can anyone verify?

[ysyap]

Is it still allowed though? Thought there's a change in rulings? Have to stay in the flat even if it's transferred to you and not that you bought it yourself.

No need to stay in hdb if have private house. Will not be surprise if it eventually becomes reality! If hdb rental is only permitted on special cases, then there'll be a serious shortage of cheap rental options for FW and FTs.

[devilplate]

Yah... that's what I thought too.

After MOP, you can buy private but must remain staying in HDB if you want to keep both. Can anyone verify?

Used to be....but rules has relaxed.....

[Worsty]

Yah... that's what I thought too.

After MOP, you can buy private but must remain staying in HDB if you want to keep both. Can anyone verify?

I read over in the HDB website.

http://www.hdb.gov.sg/fi10/fi10326p....a?OpenDocument

You cannot buy private (without selling your HDB) if your HDB is bought after 30 Aug 2010. You can however, be transferred HDB (after the MOP) from your blood relative if you already own private but you're supposed to move to the HDB and rent out your private.

[mantrix]

Buy HDB - it is already freehold thanks to SERS

[avo7007]

I read over in the HDB website.

http://www.hdb.gov.sg/fi10/fi10326p....a?OpenDocument

Please read this instead:

http://www.hdb.gov.sg/fi10/fi10325p....ment#OccPeriod

One family two houses.

[ysyap]

I read over in the HDB website.

http://www.hdb.gov.sg/fi10/fi10326p....a?OpenDocument

You cannot buy private (without selling your HDB) if your HDB is bought after 30 Aug 2010. You can however, be transferred HDB (after the MOP) from your blood relative if you already own private but you're supposed to move to the HDB and rent out your private.

HDB flats bought after Aug 2010 will not have met the MOP so its a safe NO NO to buy private. Bottomline of the rule is if you get a hdb flat, you must always satisfy the MOP, whether its from HDB directly or transferred from relative.

[Worsty]

Please read this instead:

http://www.hdb.gov.sg/fi10/fi10325p....ment#OccPeriod

One family two houses.

So, if someone buys a BTO now, after 5 years, he's allowed to get private?

I'm of the understanding that because of the rules change, if someone buys a BTO now, after 5 years, he would still not be allowed to get a private unless he gets rid of the HDB.

Those that bought before 30 Aug 2010 and have fulfilled the MOP may buy private without getting rid of the HDB.

[howgozit]

So, if someone buys a BTO now, after 5 years, he's allowed to get private?

I'm of the understanding that because of the rules change, if someone buys a BTO now, after 5 years, he would still not be allowed to get a private unless he gets rid of the HDB.

Those that bought before 30 Aug 2010 and have fulfilled the MOP may buy private without getting rid of the HDB.

Perhaps this is clearer.

http://www.hdb.gov.sg/fi10/fi10325p....y?OpenDocument

[Regulators]

very simple, if you buy a HDB flat now, you have to stay in it for 5 years and wait that period before you are allowed to buy a private property. After purchasing the private property, you are free to live in the private property and rent out the HDB flat to pay off your private mortgage.

[skeptikos]

On a slightly separate question, what if you inherit your parents' hdb in the future when at that point in time you already own private? Would that be considered a "purchase" by you and hence you would be forced to sell the hdb?

[ysyap]

On a slightly separate question, what if you inherit your parents' hdb in the future when at that point in time you already own private? Would that be considered a "purchase" by you and hence you would be forced to sell the hdb?

If inherit, then have to stay in HDB to satisfy the MOP. But no need to sell private.

[radha08]

It has been happening for ages

ages to me means past 4 years plus....

anyway now i show hand...sell private only left hDb...