Results 1 to 3 of 3

Thread: Proportion of private homes grows to 27%

  1. #1
    Join Date
    Oct 2011
    Posts
    10,829

    Default Proportion of private homes grows to 27%

    Proportion of private homes grows to 27%

    May 9, 2017

    Lee U-Wen


    THE number and proportion of private properties in Singapore grew in the decade between 2006 and last year, Parliament was told on Monday.

    The total number of private condominium units and landed homes went up from 243,000 to 372,000 in that time, taking their share of the overall dwelling units from the 22 per cent in 2006 to 27 per cent last year.

    Meanwhile, the number of Housing Development Board (HDB) flats grew from 880,000 units to 1,011,000 during the period. But despite this increase, the proportion of HDB flats out of the total housing stock went down from 78 per cent to 73 per cent.

    National Development Minister Lawrence Wong unveiled these figures in his reply to queries by backbencher Gan Thiam Poh (Ang Mo Kio GRC).

    Mr Wong said that the ratio is "expected to remain stable" over the next few years, with 72 per cent of all dwelling units projected to be HDB flats in 2020.

    However, he added, this proportion refers only to the housing stock in Singapore - not the total proportion of people living in flats, which remains at about 80 per cent.

    Separately, he told the House that under 2 per cent of Build-to-Order (BTO) flat-buyers who were invited to collect their keys had asked for a deferment in the 15 months between the start of last year and the end of the first quarter of this year.

    The minister noted that home buyers ask for deferments when they have difficulties selling their existing flats. Responding to questions by Zaqy Mohamad (Chua Chu Kang GRC), Mr Wong added that the government has not noticed an upward trend in the number of such cases, and that, for these buyers, the HDB exercises flexibility and grants them a "reasonable" time extension.

    "The vast majority were able to sell their existing flat and complete the new flat purchase. However, a minority, or 45 buyers, eventually opted to cancel their new flat bookings, pay the forfeiture, and continue living in their existing flats," he said.

    The main reasons for these cancellations include changes to the buyers' overall financial circumstances; in some cases, they no longer wish to go ahead with buying the new flat for various personal reasons.

    Mr Wong advised all flat-buyers to exercise prudence when purchasing a home. If they intend to finance the purchase with the sale proceeds from their existing flat, he suggested that they take into account possible changes in market conditions that may affect their plans, and to be realistic in their asking prices.

    They can also use HDB's regular updates on the probable completion date of their new flats so to better plan the sale of their existing flat.

    Mr Zaqy later asked whether greater leniency could be given to buyers, given that some of his residents have indicated that they have struggled to sell their current flat because of the slower resale market.

    Mr Wong replied that HDB already exercises flexibility and provides time extensions to buyers to sell their flats and complete their transactions.

    "For the minority who have chosen not to (carry out the flat purchase), or if there are financial hardships, we can look into these cases and waive their forfeiture," he said.

  2. #2
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,531

    Default

    2006 to 2016

    private condominium units and landed homes went up from 243,000 to 372,000 = 129,000 5% increase
    taking their share of the overall dwelling units from the 22 per cent in 2006 to 27 per cent last year.

    I bought 2 PC. 2006 and 2011

    Housing Development Board (HDB) flats grew from 880,000 units to 1,011,000 = 131,000 5% reduce
    HDB flats out of the total housing stock went down from 78 per cent to 73 per cent.

    Still have the 5 room HDB. 1996

    72 per cent of all dwelling units projected to be HDB flats in 2020. 6% reduce

    Looking at the Data, HDB reduce and PC increase even with increase in HDB building, the reduce % is due to 2006 to 2011 reduce stock

    With 72 % to be HDB in 2020, there are no increase in HDB BTO.
    Last edited by Arcachon; 17-05-17 at 22:16.

  3. #3
    Join Date
    Mar 2012
    Posts
    495

    Default

    Quote Originally Posted by Arcachon View Post
    2006 to 2016

    private condominium units and landed homes went up from 243,000 to 372,000 = 129,000 5% increase
    taking their share of the overall dwelling units from the 22 per cent in 2006 to 27 per cent last year.

    I bought 2 PC. 2006 and 2011

    Housing Development Board (HDB) flats grew from 880,000 units to 1,011,000 = 131,000 5% reduce
    HDB flats out of the total housing stock went down from 78 per cent to 73 per cent.

    Still have the 5 room HDB. 1996

    72 per cent of all dwelling units projected to be HDB flats in 2020. 6% reduce

    Looking at the Data, HDB reduce and PC increase even with increase in HDB building, the reduce % is due to 2006 to 2011 reduce stock

    With 72 % to be HDB in 2020, there are no increase in HDB BTO.
    Good for you bro, Huat lah...

Similar Threads

  1. Proportion of HDB flats in housing stock dips
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 16-05-17, 23:14
  2. Proportion of PRs buying HDB resale flats drops
    By princess_morbucks in forum HDB, EC, commercial and industrial property discussion
    Replies: 3
    -: 25-12-13, 12:29
  3. HSBC: Singapore has largest proportion of wealthy expats
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 09-10-12, 11:20
  4. Interest in homes with adjoining units grows
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 15-10-11, 20:02
  5. Firms will have to fork out bigger cash proportion
    By mr funny in forum En Bloc Discussion and News
    Replies: 0
    -: 18-01-11, 01:43

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •