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    Default HDB flats in hot demand

    http://www.straitstimes.com/Breaking...ry_442109.html

    Oct 14, 2009

    HDB flats in hot demand

    By Jessica Cheam


    AS AN indication of the red hot demand for public flats, the Housing Board (HDB) was swamped with 20,691 applications for its biggest sales exercise - 2,132 flats - in recent times on its closing day.

    This means there are about 10 bids for every available flat. HDB said on Wednesday that it had 'expected strong interest for these flats as they are limited in number, are located in the popular mature estates, and are either completed or close to completion'.

    About seven out of 10 applicants are first-timers, said HDB. But despite the priority given to first-time flat buyers, the chances of being short-listed to select a flat in this exercise 'will not be high due to the overwhelming response', it said.

    Buyers' demand for completed or near-completed flats extended even to the traditionally less popular estates away from the city such as Punggol and Sengkang.

    There were 1,073 bids for 86 four-roomers in Punggol, fo rexample, which translates to 12.5 applicants for every flat.

    HDB urged first-time flat buyers who would like 'greater certainty in securing a flat' to apply for its build-to-order (BTO) flats. HDB said its records show that 96 per cent of first-timers have been given a chance to select a BTO flat within two tries. About 90 per cent of all flats in BTO projects are set aside for first-time home buyers.

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    http://www.straitstimes.com/Breaking...ry_442110.html

    Oct 14, 2009

    Launch of 1,000 BTO flats


    THE Housing Board will launch two new Build-to-Order projects offering more than 1,000 flats in Sengkang and Jurong West on Friday.

    This will be followed by six more launches with 4,000 flats in Punggol, Sembawang, Bukit Panjang and Dawson estates in November and December.

    This will bring the number of new BTO flats the board is launching to 5,000 in three months.

    In total, the HDB will be supplying 9,000 new BTO flats this year, far more than the 2,900 balance flats sold under the current and previous sale exercises for this year, said the board in a statement on Wednesday.

    'The large number of new flats offers choice and certainty to first-time flat buyers,' said the HDB.

    'HDB will continue to monitor housing demand and ensure that there is sufficient flat supply for first-time flat buyers.'

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    http://www.channelnewsasia.com/stori...011311/1/.html

    Overwhelming response to Sale of Balance Flats

    By Saifulbahri Ismail, 938LIVE | Posted: 14 October 2009 1824 hrs


    SINGAPORE: The Housing & Development Board (HDB) says the chances of a first-time flat buyer shortlisted to select a flat under the Sale of Balance Flats exercise is slim, despite the priority given to them.

    This is due to the overwhelming response to the exercise which will end at midnight Wednesday. More than 20,000 applications were received as at 5pm for the 2,100 flats on offer.

    About seven in ten applicants are first-time buyers. The rest have bought at least one flat in the past. Demand was high across the board, even in less mature and less centralised locations such as Bukit Batok, Choa Chu Kang and Woodlands.

    Property analysts attributed the strong demand partly to the boom in the housing market.

    Jeffrey Hong, executive director of HSR Property Group, said: "The cash above valuation, it has been huge right now. Owners are expecting like $50,000 above valuation or some may be asking for $60,000 above valuation. So, for those first-time flat owners, they cannot fork out this money. So, they have basically no choice but to narrow down towards the less popular areas."

    HDB says first-time flat buyers who would like greater certainty in securing a flat should apply for the Build-to-Order or BTO flats, which are the main mode of supply for flats.

    Its records show that 96 percent of first-timers have been given a chance to select a BTO flat within two tries.

    The HDB will launch two new BTO projects offering more than 1,000 flats in Sengkang and Jurong West on Friday.

    This will be followed by six more launches with 4,000 flats in Punggol, Sembawang, Bukit Panjang and Dawson estates in November and December.

    This will bring the number of new BTO flats the board is launching to 5,000 in three months.

    In total, HDB says it will be supplying 9,000 new BTO flats this year. That's far more than the 2,900 balance flats sold under the current and previous sale exercises for this year.

    HDB says it will continue to monitor housing demand and ensure that there is sufficient flat supply for first-time buyers.

    - 938LIVE/ir

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    http://www.channelnewsasia.com/stori...011111/1/.html

    HDB's sale of balance flats nearly nine times oversubscribed

    By Joanne Chan, Channel NewsAsia | Posted: 13 October 2009 2052 hrs


    SINGAPORE: The Housing & Development Board (HDB) has seen strong demand for the 2,100 flats being offered under its "Sale of Balance Flats" exercise.

    The HDB received more than 19,000 applications, just a day before the exercise closes, which means that the flats are nearly nine times oversubscribed.

    Demand was high for the flats - ranging from studio apartments to executive flats - in estates such as Bedok, Bukit Batok, Choa Chu Kang, Bukit Panjang and Woodlands.

    Balance flats are those unsold in previous Build-to-Order exercises, surplus flats under the Selective En bloc Redevelopment Scheme, as well as repurchased flats.

    These flats are either completed or nearing completion - so owners do not have to wait long before moving in.

    The exercise, which is the largest to date, replaces the existing balloting exercise, quarterly sales and half-yearly sales exercises.

    The HDB said that the rationale behind this move is to simplify the flat application process, and to provide buyers with a wider choice of flats across a range of locations in one exercise.

    - CNA/sc

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    偏远剩余组屋 比成熟区红山抢手
    许翔宇
    联合晚报
    星期三, 14-10-2009

    偏远区的剩余组屋比红山的更抢手!盛港四房组屋每间平均38人申购,武吉班让五房组屋,每间更有92人抢购。

    建屋局两周前在“剩余组屋销售计划”下推出2132间剩余组屋单位,反应热烈,截至今早11时,吸引了2万零123份申请,每个单位平均9.4人申购。

    这些组屋遍布24个市镇,包括宏茂桥、金文泰、淡滨尼和裕廊西等。

    红山组屋有多达3101份申请,其中三、四房式,每间平均5人申请。本地最高组屋达士岭也有1569份申请,其S1型单位(相等于四房式),每间平均14人申请。

    然而,这些热门组屋,其实不比偏远组屋抢手。

    数据显示,盛港、裕廊西、武吉班让和兀兰的剩余组屋,平均每间有30至40人申请。

    盛港26个四房单位,平均每间38人抢购,而武吉班让五房式只剩3间,申请者却有277人。

    欲购剩余组屋者,可上网www.hdb.gov.sg或到建屋局申请。截止日是今天。

    这些剩余组屋包括:121间小型公寓、58间二房式组屋、345间三房式、1261间四房式和S1型、315间五房式和S2型(等于五房式)及32间公寓式组屋。

    分析员:便宜55% 新婚夫妇不愿以高价买组屋

    偏远组屋区的四房式,比红山四房式便宜55%;分析员指出,多数买家不愿高价买组屋。

    HSR房产经纪公司执行董事郑来明说:“经济刚复苏,多数人较务实。通常经济展望大好时,热门区组屋较多人抢购。”

    他指出,这次剩余的偏远组屋较少,有些区只剩两三个,超额不难。
     
    博纳(PropNex)集团总裁伊斯迈认为,组屋价格整体上提升,年轻新婚夫妇考虑到负担能力不足,倾向于申请偏远组屋。

    “这些偏远组屋,位于成熟组屋区,多数已完工或接近完工,具一定吸引力。”

    红山四房式最高售价达48万8000元,对比最贵的武吉班让四房式的21万7000元,贵了55%。

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    Quote Originally Posted by mr funny
    http://www.channelnewsasia.com/stori...011111/1/.html

    HDB's sale of balance flats nearly nine times oversubscribed

    By Joanne Chan, Channel NewsAsia | Posted: 13 October 2009 2052 hrs


    SINGAPORE: The Housing & Development Board (HDB) has seen strong demand for the 2,100 flats being offered under its "Sale of Balance Flats" exercise.

    The HDB received more than 19,000 applications, just a day before the exercise closes, which means that the flats are nearly nine times oversubscribed.

    Demand was high for the flats - ranging from studio apartments to executive flats - in estates such as Bedok, Bukit Batok, Choa Chu Kang, Bukit Panjang and Woodlands.

    Balance flats are those unsold in previous Build-to-Order exercises, surplus flats under the Selective En bloc Redevelopment Scheme, as well as repurchased flats.

    These flats are either completed or nearing completion - so owners do not have to wait long before moving in.

    The exercise, which is the largest to date, replaces the existing balloting exercise, quarterly sales and half-yearly sales exercises.

    The HDB said that the rationale behind this move is to simplify the flat application process, and to provide buyers with a wider choice of flats across a range of locations in one exercise.

    - CNA/sc
    what puzzles me is : Where were all these buyers when the market was cheaper ?? in 2003-2007 ??

    are these really pent up demand ?

    or herd instinct ?

    it cant be due to money situation ?
    say in 2005 .. you didnt have enuff $$ to buy HDB .. and in 2007-9 you made / saved enuff to buy when it became more expensive ? and somemore with COV ?

    i really cant help but feel all the rush is herd instinct or the deep cored Kiasuism .. they probably had the money all along .. but didnt feel the need to buy , and was happy with their old flats .. but when seeing people buy, hearing from agents (low rates, etc etc) ..see someone buy ..all rush in ..

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    Another theory: Actually many of these buyers can afford but Many hoping to buy even cheaper in 2003-2006 (as they wait price become cheaper & they get used to waiting for cheaper & cheaper price). Then suddenly price shot up in 2006 & they wait and wait and wait thinking that this is one-off & unsubstainable. They thought price will go lower & lower again and indeed this happened in early 2008 but they thought they can buy really CHEAP CHEAP this time with all the bad economic news etc again (imagine, the worst recession since 2nd World War!). Who knows! - Price suddenly shot back up again since May 2009 when they least expected. Now prices already on uptrend and accompanied by better and better economic news (meaning prices unlikely to fall again anytime soooooon......). So now many of them coming in to buy because if they miss the boat this time they either have to buy at even higher prices if they wait or they will have to pay super-high rentals later!

    Quote Originally Posted by proud owner
    what puzzles me is : Where were all these buyers when the market was cheaper ?? in 2003-2007 ??

    are these really pent up demand ?

    or herd instinct ?

    it cant be due to money situation ?
    say in 2005 .. you didnt have enuff $$ to buy HDB .. and in 2007-9 you made / saved enuff to buy when it became more expensive ? and somemore with COV ?

    i really cant help but feel all the rush is herd instinct or the deep cored Kiasuism .. they probably had the money all along .. but didnt feel the need to buy , and was happy with their old flats .. but when seeing people buy, hearing from agents (low rates, etc etc) ..see someone buy ..all rush in ..

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    Quote Originally Posted by proud owner
    what puzzles me is : Where were all these buyers when the market was cheaper ?? in 2003-2007 ??

    are these really pent up demand ?

    or herd instinct ?

    it cant be due to money situation ?
    say in 2005 .. you didnt have enuff $$ to buy HDB .. and in 2007-9 you made / saved enuff to buy when it became more expensive ? and somemore with COV ?

    i really cant help but feel all the rush is herd instinct or the deep cored Kiasuism .. they probably had the money all along .. but didnt feel the need to buy , and was happy with their old flats .. but when seeing people buy, hearing from agents (low rates, etc etc) ..see someone buy ..all rush in ..
    These buyers rushing becoz they realised properties are rocketing up. And they missed the bottom to buy condos,and also the HDB with the high COV.
    Make noise kbkp,write petition,emails or meet the people session etc. And finally got new flats for them.
    These buyers will just grab wadever is available on the shelve.
    2nd floor, facing chute,lousy location and not on highest floor also can buy liao. As long they buy NEW,they feel that they buy cheap.

    Actually is more like paying a same price pegged to the surrounding HDB resale market.
    Etc buying new launch condos means CHEAP. Resale condos are expensive. Such Mentality

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    No lah, it is real demand.

    That is why the govt did not increase the downpayment % to 15%-20%. They only wayang wayang to scare away some houseflies. Then everyone happy. Somemore, GE on the way, cannot rock the boat, wanna rock, also whack after votes are in the pocket.

    Imagine the ratio of current owners vs new potential home buyers. Who is the bigger group? But Mahlboro Man already say, monthly installment is very affordable at less than 3o% of your pay (he never say pay for many more years than you father and grandfather but since he never highlight this means it is insignificant and minuscule problem cos he the bestest and the brightest. BAB knows bestest)

    Look at how the hobbit units (aka MM units) are selling out! (Reminds me of the time when everyone son's mother cannot get enough of structured product...)

    You don't believe me, wait for the high end to boomz and see the low end and mid end get pulled along.

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    Quote Originally Posted by sabian
    No lah, it is real demand.

    That is why the govt did not increase the downpayment % to 15%-20%. They only wayang wayang to scare away some houseflies. Then everyone happy. Somemore, GE on the way, cannot rock the boat, wanna rock, also whack after votes are in the pocket.

    Imagine the ratio of current owners vs new potential home buyers. Who is the bigger group? But Mahlboro Man already say, monthly installment is very affordable at less than 3o% of your pay (he never say pay for many more years than you father and grandfather but since he never highlight this means it is insignificant and minuscule problem cos he the bestest and the brightest. BAB knows bestest)

    Look at how the hobbit units (aka MM units) are selling out! (Reminds me of the time when everyone son's mother cannot get enough of structured product...)

    You don't believe me, wait for the high end to boomz and see the low end and mid end get pulled along.
    Wah.. Im also thinking that way, wait for the next yr and the high end to boomz too. Dont sell now

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    HDB really in demand suddenly? or another "demand" creation for propoganda purposes?

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    Quote Originally Posted by proud owner
    what puzzles me is : Where were all these buyers when the market was cheaper ?? in 2003-2007 ??
    New PR
    PR that use to rent instead of buy as that time rental is cheap
    New citizen

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    Now rental still cheap if not cheaper (both pte & public hsing).

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    Quote Originally Posted by Acer
    New PR
    PR that use to rent instead of buy as that time rental is cheap
    New citizen
    if renters now turn owners ..meaning there will be more units out in the market for rental ...correct ?

    meaning prices up but rental drops .. BUT buyers still willing to park $$ for paper gain ..

    by which time, their properties become 'old project', and resale market is not and has not picked up, only new launches are seeing the rush .. whats going to happen ?

    will new comers from outside spore willing to buy 2-5 yr old mass market ?

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    Default 20,691 apply for 2,132 ready flats

    http://www.straitstimes.com/Prime%2B...ry_442300.html

    October 15, 2009 Thursday

    20,691 apply for 2,132 ready flats

    Overwhelming demand for latest batch in popular mature estates

    By Jessica Cheam


    THE Housing Board (HDB) has been swamped by 20,691 applications for 2,132 completed or near-completed flats - in a sign of red-hot demand for its homes.

    Applications for the flats - which are at various locations across the island, including sought-after mature estates - closed yesterday.

    The eye-popping figures mean there were almost 10 bids for every available flat - an overwhelming level of demand not seen since the pre-financial crisis property boom, analysts say.

    HDB said in a statement yesterday that it had 'expected strong interest for these flats as they are limited in number, located in the popular mature estates, and are either completed or close to completion'.

    About seven out of 10 applicants are first-time flat buyers, said HDB. But despite priority being given to first-timers, the chances of being short-listed to select a flat 'will not be high due to the overwhelming response', it said.

    Industry observers say this reflects strong demand for readily available flats. These buyers were likely to have been pushed out of the resale flat market, where prices are at historic highs.

    Latest estimates showed that HDB resale flat prices rose 3.2 per cent in the third quarter over the second quarter, after an increase of 1.4 per cent in the second quarter over the first three months of the year.

    This was on top of a hefty 31.2 per cent price jump in the past two years.

    'The primary attraction of these flats is buyers don't have to wait - and they don't need to fork out cash over valuation (COV),' said ERA Asia-Pacific's associate director Eugene Lim. COV refers to the cash a buyer must pay a seller above the flat's valuation - a common practice in the resale market.

    The local property market's revival has led to a steady increase in COV values of late, as sellers factor in future price rises.

    The intense demand for the latest batch of flats, launched for sale on Oct 1, extended even to traditionally less popular outlying estates such as Punggol and Sengkang.

    For example, 1,022 applications were made for 26 four-room flats in Sengkang - which works out to 39 bids for each flat. Over at Jurong West, there were 905 applications for just 19 four-room flats - 47 times the number of flats offered.

    PropNex chief executive Mohamed Ismail said this was because in 'absolute pricing', these flats were more attractively priced than their counterparts in mature estates. Four-room flats in Jurong West started from $219,000 and those in Punggol started at $245,000.

    Still, even the pricier flats at The Pinnacle @ Duxton - costing up to $553,000 for four-room units and $643,000 for five-room ones - attracted a healthy response.

    HDB urged first-time flat buyers who would like greater certainty in securing a flat to apply for its build-to-order (BTO) flats, where 90 per cent of flats are set aside for first-timers.

    These flats typically take three to four years to be ready since the HDB builds according to demand.

    HDB said its records show that 96 per cent of first-timers get a chance to select a BTO flat within two tries. It also said it will be launching two new BTO projects offering more than 1,000 flats in Sengkang and Jurong West tomorrow.

    In the next two months, it will launch a further six BTO projects offering 4,000 flats in Punggol, Sembawang, Bukit Panjang and Dawson.

    HDB's latest sale was under the Sales of Balance Flats scheme, which has replaced the balloting, quarterly sales and half-yearly sales exercises. The HDB will issue one final update on application numbers today at 2pm.

    The scheme offers flats left over from earlier BTO exercises, the Selective En-bloc Redevelopment Scheme, and also repurchased flats. Such sales exercises will be launched as and when sufficient flats accumulate, said HDB.

    Ngee Ann Polytechnic real estate lecturer Nicholas Mak said the private property boom could also be a factor for the strong demand, as buyers - particularly permanent residents - turn to the resale market. This in turn, pushes first-timers into the flat queues directly to the HDB.

    One flat buyer Jeffrey Chua, 30, applied for a four-roomer in Bukit Merah. 'I know the chances are slim, but no harm trying my luck. It beats buying off the resale market right now.'

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