Source : AsiaOne, Jun 08, 2009
Singapore is the 54th most liveable city in the world, below San Francisco (US), and a notch above Budapest (Hungrary). Its placing also puts it above cities like Seoul (58th) and Taipei (62nd), but below Hong Kong (39th), Osaka (13th) and Tokyo (19th).
Singapore's placing also makes it the 11th most liveable city in Asia, including cities in Australia and New Zealand.
Vancouver remains top of the league table, benefiting from strong Canadian infrastructure and Harare sits at the bottom thanks to the unfolding crisis in Zimbabwe.
The results are according to the latest Economist Intelligence Unit global liveability survey, which has put cities in Australia, New Zealand and Japan close to the top of the ranking of 140 cities.
At the other end of the ranking, most of the poorest-performing locations are in Africa or Asia. Dhaka in Bangladesh is the lowest-scoring city in the region in joint 138th, just one place above last-place Harare.
Asia accounts for eight cities out of the top 20 (although these are found in just three countries: Australia, New Zealand and Japan) and ten cities out of the bottom 20.
Jon Copestake, editor of the report, said: "The performance of Asian cities reflects the diverse levels of development throughout the region. Australian cities represent many of the best aspects of liveability while instability in countries like Pakistan and Bangladesh means that cities in South Asia fare much worse."
Tuesday, June 9, 2009
Beware Of Pitfalls In Property Deals
Source : The Straits Times, Jun 09, 2009
Besides errant agents, there are other factors to be mindful of during bad times, say experts
A couple recently lost out on a property deal because their agent sold off the unit without their knowledge.
In another case, a couple paid cash for a deal that did not materialise.
In every property downturn, some agents will get 'creative', though a deal can fail for many other reasons, property agency bosses said.
Buyers should always take precautions and do their homework when presented with what seems like a really good deal, they said.
Case 1
A couple thought they had bought a unit at Yishun Emerald when they paid $5,000 cash for the option to purchase, as well as another $20,000 upfront to the seller, of which $8,000 went to the agent.
The seller let them move in early while they waited for the $550,000 sale to complete. They held their housewarming party and settled in.
But the deal fell through. The condo's management could not transfer the unit to them because of the seller's debt arrears.
The $12,000 upfront cash was for the seller to pay that debt. Not only did he not pay it, he also asked to borrow money from the couple on a few occasions, said the husband, MrJumari Osman, 34.
'We realised the seller was also defaulting on his housing loan and that his flat was later repossessed by the bank,' he said.
By then, the couple had forked out nearly $40,000, including legal fees and the bank mortgage penalty fee. The agent refused to return his commission to them and the seller said he was flat broke.
'It was a negative sale, so we knew the seller wasn't going to get anything out of it, and that he had a debt with the condo's management,' said Mr Jumari.
'But we were not told at all that the unit was in danger of being repossessed.'
The agent, Mr Jumari said, claimed that he did inform them of the problem. In any case, he was the one who instructed them to pay the $20,000 to speed up the sale, said Mr Jumari.
In this case, 'the buyer should have made the cheque out to the MCST (management corporation) instead of the seller, knowing that the seller has debts', said Mr Chris Koh, director of Dennis Wee Properties.
What the agent should have done was to get a lawyer to add a clause in the standard option to purchase document, saying the $12,000 is for the payment of the MCST debts, he said.
As an added precaution, the clause could have also said that the $12,000 was conditional to the sale, he said.
As a sign of goodwill, the agent should refund the commission, agency bosses said.
In general, buyers should avoid paying more than 1 per cent option money in a resale deal, said PropNex chief executive Mohamed Ismail.
This way, their exposure will be limited if the deal gets terminated for various reasons, such as the death of the seller or if the seller becomes bankrupt, experts said.
Case 2
Mr Kenneth Chia and his wife were so keen on a Spring Grove unit in Grange Road that they were prepared to offer a cheque on the spot.
They offered $990,000 - $10,000 more than the previous offer - and were willing to raise it if there was more competition.
The seller's agent told them not to bother with the cheque (the asking price was $1.08 million) and later sold the unit to another party for $1 million in a co-broke deal.
The couple's beef was that the agent did not inform them of another higher offer that came later.
When confronted, the seller's agent said she was not bound by duty to tell them about it, said Mr Chia, 32.
'We bought a much better unit for a bit more ($1.08 million). But if we had known about the $1 million offer, we could have bid at $1.05 million and the seller would have got $50,000 more.'
In hindsight, everyone may be willing to pay a bit more, experts said. 'What keen buyers should do is to make an immediate offer that is close to the seller's expectations,' said PropNex's Mr Ismail.
In this case, if the couple did not raise their offer on the spot, it meant their offer was only $990,000, said ERA associate director Eugene Lim.
'If another buyer later offers a cheque at a higher price that the seller agrees to, it will be a done deal. The agent is not obligated to inform the previous home-hunter of the higher offer,' he said.
The key is whether buyers are serious about their offers, experts said. 'When the buyer makes an offer to the seller through our agent, we do it officially through a document called the offer to purchase. It is never verbal,' said Mr Lim.
Case 3
There are sellers out there desperate for cash, and agents may thus structure an attractive deal for the buyer.
In these cases, the buyer may be tempted by the extra discount, which is all right as long as precautions are taken, said Mr Ismail.
Let's assume a seller is willing to sell his $1 million property for $950,000 on the condition that the buyer gives him 10 per cent of it in cash immediately.
Typically, the buyer pays 1 per cent, and a further 4 or 9 per cent within four weeks, to the seller's lawyer. The money will be transferred to the seller when the deal is completed three months later.
So if the buyer agrees to give him 10 per cent cash, it means that only 90 per cent, or $855,000 is going towards the property purchase.
Problems will arise if the seller's housing loan is more than that amount. 'If the seller cannot redeem the loan, the property will not be transferred to the buyer,' said Mr Ismail.
To avoid this problem, a buyer should get his lawyer to check on the seller's outstanding loan on the property, he said.
Another risk is that the seller becomes a bankrupt within the three months it takes to complete the deal, said Mr Ismail.
A buyer should therefore also check to see if there are any pending legal suits against the seller to ensure he won't be made a bankrupt before the deal is sealed, he said.
Besides errant agents, there are other factors to be mindful of during bad times, say experts
A couple recently lost out on a property deal because their agent sold off the unit without their knowledge.
In another case, a couple paid cash for a deal that did not materialise.In every property downturn, some agents will get 'creative', though a deal can fail for many other reasons, property agency bosses said.
Buyers should always take precautions and do their homework when presented with what seems like a really good deal, they said.
Case 1
A couple thought they had bought a unit at Yishun Emerald when they paid $5,000 cash for the option to purchase, as well as another $20,000 upfront to the seller, of which $8,000 went to the agent.
The seller let them move in early while they waited for the $550,000 sale to complete. They held their housewarming party and settled in.
But the deal fell through. The condo's management could not transfer the unit to them because of the seller's debt arrears.
The $12,000 upfront cash was for the seller to pay that debt. Not only did he not pay it, he also asked to borrow money from the couple on a few occasions, said the husband, MrJumari Osman, 34.
'We realised the seller was also defaulting on his housing loan and that his flat was later repossessed by the bank,' he said.
By then, the couple had forked out nearly $40,000, including legal fees and the bank mortgage penalty fee. The agent refused to return his commission to them and the seller said he was flat broke.
'It was a negative sale, so we knew the seller wasn't going to get anything out of it, and that he had a debt with the condo's management,' said Mr Jumari.
'But we were not told at all that the unit was in danger of being repossessed.'
The agent, Mr Jumari said, claimed that he did inform them of the problem. In any case, he was the one who instructed them to pay the $20,000 to speed up the sale, said Mr Jumari.
In this case, 'the buyer should have made the cheque out to the MCST (management corporation) instead of the seller, knowing that the seller has debts', said Mr Chris Koh, director of Dennis Wee Properties.
What the agent should have done was to get a lawyer to add a clause in the standard option to purchase document, saying the $12,000 is for the payment of the MCST debts, he said.
As an added precaution, the clause could have also said that the $12,000 was conditional to the sale, he said.
As a sign of goodwill, the agent should refund the commission, agency bosses said.
In general, buyers should avoid paying more than 1 per cent option money in a resale deal, said PropNex chief executive Mohamed Ismail.
This way, their exposure will be limited if the deal gets terminated for various reasons, such as the death of the seller or if the seller becomes bankrupt, experts said.
Case 2
Mr Kenneth Chia and his wife were so keen on a Spring Grove unit in Grange Road that they were prepared to offer a cheque on the spot.
They offered $990,000 - $10,000 more than the previous offer - and were willing to raise it if there was more competition.
The seller's agent told them not to bother with the cheque (the asking price was $1.08 million) and later sold the unit to another party for $1 million in a co-broke deal.
The couple's beef was that the agent did not inform them of another higher offer that came later.
When confronted, the seller's agent said she was not bound by duty to tell them about it, said Mr Chia, 32.
'We bought a much better unit for a bit more ($1.08 million). But if we had known about the $1 million offer, we could have bid at $1.05 million and the seller would have got $50,000 more.'
In hindsight, everyone may be willing to pay a bit more, experts said. 'What keen buyers should do is to make an immediate offer that is close to the seller's expectations,' said PropNex's Mr Ismail.
In this case, if the couple did not raise their offer on the spot, it meant their offer was only $990,000, said ERA associate director Eugene Lim.
'If another buyer later offers a cheque at a higher price that the seller agrees to, it will be a done deal. The agent is not obligated to inform the previous home-hunter of the higher offer,' he said.
The key is whether buyers are serious about their offers, experts said. 'When the buyer makes an offer to the seller through our agent, we do it officially through a document called the offer to purchase. It is never verbal,' said Mr Lim.
Case 3
There are sellers out there desperate for cash, and agents may thus structure an attractive deal for the buyer.
In these cases, the buyer may be tempted by the extra discount, which is all right as long as precautions are taken, said Mr Ismail.
Let's assume a seller is willing to sell his $1 million property for $950,000 on the condition that the buyer gives him 10 per cent of it in cash immediately.
Typically, the buyer pays 1 per cent, and a further 4 or 9 per cent within four weeks, to the seller's lawyer. The money will be transferred to the seller when the deal is completed three months later.
So if the buyer agrees to give him 10 per cent cash, it means that only 90 per cent, or $855,000 is going towards the property purchase.
Problems will arise if the seller's housing loan is more than that amount. 'If the seller cannot redeem the loan, the property will not be transferred to the buyer,' said Mr Ismail.
To avoid this problem, a buyer should get his lawyer to check on the seller's outstanding loan on the property, he said.
Another risk is that the seller becomes a bankrupt within the three months it takes to complete the deal, said Mr Ismail.
A buyer should therefore also check to see if there are any pending legal suits against the seller to ensure he won't be made a bankrupt before the deal is sealed, he said.
UK Home Prices Rise At Fastest Rate Since '02
Source : The Business Times, June 6, 2009
But mortgage lender warns market conditions still tough
(London)BRITISH house prices unexpectedly rose at their fastest monthly rate in 61/2 years last month, the Halifax house price survey showed on Thursday, but the mortgage lender cautioned market conditions remained difficult.
STEEP RISE - Halifax warns that the underlying trend for the housing market remained weak, despite tentative signs of a stabilisation
The figures offered another sign Britain may have come through the worst of the recession, just hours before the Bank of England announces its latest monetary policy decision.
But policymakers will want much more information on how the economy is faring and are expected to hold interest rates at a record low of 0.5 per cent this month and maintain the pace of its £125 billion (S$292.57 billion) quantitative easing programme.
Halifax said that house prices rose 2.6 per cent in May, the biggest increase since October 2002, while the annual rate of decline eased to 13.6 per cent from 17.7 per cent in April.
The figures confounded analysts' forecasts for a monthly fall of one per cent and propelled the pound around half a cent higher against the US dollar.
But analysts cautioned against reading too much into one month's data, warning price moves tended to be volatile during a downturn and that broader economic conditions are weak.
'Despite markedly rising buyer interest, we believe that the pick up in actual house purchases is likely to be gradual and fitful for some time to come given ongoing tight credit conditions and still relatively poor economic fundamentals,' said Howard Archer, economist at Global Insight.
Still, Thursday's figures were the latest in a clutch of recent data suggesting Britain may be starting to emerge from the downturn and the closely-watched purchasing managers' surveys this week signalled growth may even have resumed last month.
However, soaring unemployment and still-tight lending conditions are likely to hamper any swift recovery.
Figures from the Society of Motor Manufacturers and Traders released on Thursday showed new car registrations fell 24.8 per cent on the year last month, a faster decline than in April.
BoE policymakers have stressed great uncertainty about the outlook for the economy and many analysts are sceptical about the prospects for a strong recovery. Halifax said that house prices in the three months to May fell 16.3 per cent from a year ago, the slowest rate of decline since December, and that the average price of a home stood at £158,565. But it warned the underlying trend for the housing market remained weak, despite tentative signs of a stabilisation. 'House sales remain substantially below their long term average and market conditions are expected to remain difficult, with housing activity continuing at low levels over the coming months,' said Halifax economist Nitesh Patel. -- Reuters
But mortgage lender warns market conditions still tough
(London)BRITISH house prices unexpectedly rose at their fastest monthly rate in 61/2 years last month, the Halifax house price survey showed on Thursday, but the mortgage lender cautioned market conditions remained difficult.
STEEP RISE - Halifax warns that the underlying trend for the housing market remained weak, despite tentative signs of a stabilisationThe figures offered another sign Britain may have come through the worst of the recession, just hours before the Bank of England announces its latest monetary policy decision.
But policymakers will want much more information on how the economy is faring and are expected to hold interest rates at a record low of 0.5 per cent this month and maintain the pace of its £125 billion (S$292.57 billion) quantitative easing programme.
Halifax said that house prices rose 2.6 per cent in May, the biggest increase since October 2002, while the annual rate of decline eased to 13.6 per cent from 17.7 per cent in April.
The figures confounded analysts' forecasts for a monthly fall of one per cent and propelled the pound around half a cent higher against the US dollar.
But analysts cautioned against reading too much into one month's data, warning price moves tended to be volatile during a downturn and that broader economic conditions are weak.
'Despite markedly rising buyer interest, we believe that the pick up in actual house purchases is likely to be gradual and fitful for some time to come given ongoing tight credit conditions and still relatively poor economic fundamentals,' said Howard Archer, economist at Global Insight.
Still, Thursday's figures were the latest in a clutch of recent data suggesting Britain may be starting to emerge from the downturn and the closely-watched purchasing managers' surveys this week signalled growth may even have resumed last month.
However, soaring unemployment and still-tight lending conditions are likely to hamper any swift recovery.
Figures from the Society of Motor Manufacturers and Traders released on Thursday showed new car registrations fell 24.8 per cent on the year last month, a faster decline than in April.
BoE policymakers have stressed great uncertainty about the outlook for the economy and many analysts are sceptical about the prospects for a strong recovery. Halifax said that house prices in the three months to May fell 16.3 per cent from a year ago, the slowest rate of decline since December, and that the average price of a home stood at £158,565. But it warned the underlying trend for the housing market remained weak, despite tentative signs of a stabilisation. 'House sales remain substantially below their long term average and market conditions are expected to remain difficult, with housing activity continuing at low levels over the coming months,' said Halifax economist Nitesh Patel. -- Reuters
Monday, June 8, 2009
CapLand Launches 5th Raffles City In China - In Ningbo
Source : The Straits Times, June 08 2009
CapitaLand growth strategy is emboldened by the China recovery story.
NINGBO (CHINA): CapitaLand's chief executive Liew Mun Leong does not just believe in the China recovery story - he says the growth strategy for the property development group is also 'emboldened by it'.
-- PHOTO: CAPITALAND.
The plan is to grow its China operations' contribution to group assets from 26 per cent now to between 40 per cent and 45 per cent in the next few years, he said at the launch of the group's fifth Raffles City-brand development in China last Saturday. Prime Minister Lee Hsien Loong was also at the launch.
Mr Liew told The Straits Times that China's growth is leading the world because of its response to the crisis; its 4 trillion yuan (S$848 billion) stimulus plan was quick and effective.
'Before China was really affected by the global crisis, it had already recovered,' he quipped.
To illustrate the point, Mr Lim Ming Yan, chief executive of CapitaLand China Holdings, said: 'Retail sales in China are still growing. They grew 15 per cent in the last quarter compared to the same period last year. People are still spending.'
This is true from Beijing to Shanghai, and even Ningbo, an international port city about 150km south of Shanghai, on the edge of Hangzhou Bay, he observed.
Raffles City Ningbo is CapitaLand's fifth Raffles City-brand development in China, after Shanghai, Beijing, Chengdu and Hangzhou. The integrated development will comprise a 50,000 sq m mall, a 30,000 sq m Grade A office tower and a 20,000 sq m tower for serviced apartments.
Raffles City Ningbo, to be completed by 2012, will have similar retail offerings as the Raffles City malls in Beijing and Shanghai.
Ningbo residents are affluent, said Mr Liew, as the city's GDP per capita was US$10,000 (S$14,500) last year, second only to Shanghai's.
Forty per cent of buyers for CapitaLand's Summit Residences development in Ningbo - being built adjacent to Raffles City - paid cash upfront for their properties, said Mr Qian Yiqi, general manager of CapitaLand China's Ningbo Project. The units sold for between 16,000 yuan and 20,000 yuan per sq m.
Over the weekend, CapitaLand also signed strategic cooperation agreements with the Bank of China and the Industrial and Commercial Bank of China to grant its China businesses a credit limit allocation of up to 25 billion yuan.
This is not a credit facility but a framework to facilitate the ease of lending from either bank for ongoing or future projects and 'demonstrates China's commitment to (invite) investments from foreigners', said Mr Liew.
Its China portfolio, including projects under development, is worth S$17.5 billion and comprises 113 projects in 47 cities.
'Projects in China are very huge, (around) S$800 million for one project,' said Mr Liew.
Of his overall China strategy, Mr Liew said Tianjin and Changsha possess 'a lot of opportunities', and that 'residential (developments) are always the lion's share of market opportunities'.
He said: 'In any city, usually you build (the residents) homes first. Then you find them jobs and build them offices. Then when they make money you build them shopping malls.'
He reiterated that the group is always on the lookout to buy distressed assets and turn them around - as it had already done with four residential properties in Beijing in recent years.
The upside of picking up distressed projects is not merely that they are cheaper, he said, but also that they have a quicker turnaround as their plans have already been approved.
He said: 'Not only good projects, even good companies. If they're distressed but good, maybe we'll look at them. Why not?'
As China continues to catch up with the modern global economy, Mr Liew said CapitaLand retains a competitive advantage because 'they're still behind us in terms of finishes'.
He added: 'Nothing will deter our (strategy) on China.'
CapitaLand growth strategy is emboldened by the China recovery story.
NINGBO (CHINA): CapitaLand's chief executive Liew Mun Leong does not just believe in the China recovery story - he says the growth strategy for the property development group is also 'emboldened by it'.
-- PHOTO: CAPITALAND.The plan is to grow its China operations' contribution to group assets from 26 per cent now to between 40 per cent and 45 per cent in the next few years, he said at the launch of the group's fifth Raffles City-brand development in China last Saturday. Prime Minister Lee Hsien Loong was also at the launch.
Mr Liew told The Straits Times that China's growth is leading the world because of its response to the crisis; its 4 trillion yuan (S$848 billion) stimulus plan was quick and effective.
'Before China was really affected by the global crisis, it had already recovered,' he quipped.
To illustrate the point, Mr Lim Ming Yan, chief executive of CapitaLand China Holdings, said: 'Retail sales in China are still growing. They grew 15 per cent in the last quarter compared to the same period last year. People are still spending.'
This is true from Beijing to Shanghai, and even Ningbo, an international port city about 150km south of Shanghai, on the edge of Hangzhou Bay, he observed.
Raffles City Ningbo is CapitaLand's fifth Raffles City-brand development in China, after Shanghai, Beijing, Chengdu and Hangzhou. The integrated development will comprise a 50,000 sq m mall, a 30,000 sq m Grade A office tower and a 20,000 sq m tower for serviced apartments.
Raffles City Ningbo, to be completed by 2012, will have similar retail offerings as the Raffles City malls in Beijing and Shanghai.
Ningbo residents are affluent, said Mr Liew, as the city's GDP per capita was US$10,000 (S$14,500) last year, second only to Shanghai's.
Forty per cent of buyers for CapitaLand's Summit Residences development in Ningbo - being built adjacent to Raffles City - paid cash upfront for their properties, said Mr Qian Yiqi, general manager of CapitaLand China's Ningbo Project. The units sold for between 16,000 yuan and 20,000 yuan per sq m.
Over the weekend, CapitaLand also signed strategic cooperation agreements with the Bank of China and the Industrial and Commercial Bank of China to grant its China businesses a credit limit allocation of up to 25 billion yuan.
This is not a credit facility but a framework to facilitate the ease of lending from either bank for ongoing or future projects and 'demonstrates China's commitment to (invite) investments from foreigners', said Mr Liew.
Its China portfolio, including projects under development, is worth S$17.5 billion and comprises 113 projects in 47 cities.
'Projects in China are very huge, (around) S$800 million for one project,' said Mr Liew.
Of his overall China strategy, Mr Liew said Tianjin and Changsha possess 'a lot of opportunities', and that 'residential (developments) are always the lion's share of market opportunities'.
He said: 'In any city, usually you build (the residents) homes first. Then you find them jobs and build them offices. Then when they make money you build them shopping malls.'
He reiterated that the group is always on the lookout to buy distressed assets and turn them around - as it had already done with four residential properties in Beijing in recent years.
The upside of picking up distressed projects is not merely that they are cheaper, he said, but also that they have a quicker turnaround as their plans have already been approved.
He said: 'Not only good projects, even good companies. If they're distressed but good, maybe we'll look at them. Why not?'
As China continues to catch up with the modern global economy, Mr Liew said CapitaLand retains a competitive advantage because 'they're still behind us in terms of finishes'.
He added: 'Nothing will deter our (strategy) on China.'
越来越多人 组屋套现过难关
Source : 《联合早报》June 7, 2009
我国有近90万户家庭居住在政府组屋，对许多人来说，组屋就是最有价值的资产和重要保值。
建屋发展局近年来先后推出多项措施，协助有需要的屋主利用组屋套取现金，作为额外收入应付生活所需或渡过经济难关；其中不少措施专为年长者而设，确保他们退休后仍有收入来源，补贴晚年的生活费。
怎样利用组屋套现？本报记者一一为读者介绍。
随着建屋局条例进一步放宽，符合出租资格的组屋约有68万1000单位，占全岛近90万个组屋的约76％。（何炳耀摄）
经济放缓，有更多组屋住户因失业或收入减少而向建屋发展局申请出租整个单位，以套取现金解决燃眉之急。
建屋局提供给本报的数据显示，今年首四个月，共有4805个组屋获准整个出租，比去年每季度平均的3836个，增加了25%。
截至今年4月，总共有2万3000名屋主决定出租整个房子，其中近八成（1万8000个）是在2007年3月，组屋出租条例进一步放宽后获得批准。
条例放宽 更多人出租整间组屋
在有关条例放宽前，还没还清建屋局贷款的屋主必须住满10年后才能出租整个组屋，已还清贷款的屋主则须住满五年。
建屋局过后进一步放宽，允许受津贴组屋屋主只须住满五年、不受津贴组屋屋主住满三年即可出租整个组屋，但屋主必须事先取得建屋局同意。
随着条例放宽，符合出租资格的组屋约有68万1000个，占全岛近90万个组屋的约76％。
受津贴组屋指的是直接向建屋局购买的组屋，或向建屋局申请公积金购屋津贴购买的转售组屋。
建屋局指出，自有关条例在2003年首次放宽以来，获准出租整个单位的屋主每年稳定增加，前年条例进一步放宽后，增幅更是高达50%，从2006年的8544个，激增到2007年将近1万3000个。
入行12年的ERA高级分部董事陈瑞洁就留意到这一两年来，有更多人出租整个单位来套现，特别是去年底经济放缓之后。
她最近就帮忙一户经济陷入困境的家庭出租整个组屋。这家人住在淡滨尼一个四房式单位，兄妹俩照顾年迈的父母。
40出头的哥哥失业后久久找不到工作，还欠下贷款。他们原本打算把几年前购得的转售组屋卖掉来套现，可是仔细算过后发现，把整个房子出租较为划算。
他们于是暂时搬到亲戚家住，把每月收取到的1500元至1800元租金用以偿还贷款及应付生活费。
陈瑞洁说：“一般家庭遇到有人失业或减薪、难以维持生活费时，最直接的办法就是从组屋着手，例如把整个屋子或部分房间出租来套现。”
HSR房屋经纪孙爱云指出：“经济好的时候，也有不少人要出租房子，那主要是因为租金太吸引人。碰到经济低迷，更多人则是为了现金周转而出租组屋套现。”
她说：“除了把整个组屋出租，近来也有更多人选择把房间出租。我在报章上刊登分类广告，平均一天就会接到十多二十通询问电话。”
建屋局放宽条例 协助年长者应付退休生活开销
出租整个组屋的做法，除了帮助经济拮据的屋主渡过难关外，也为年长者提供多一个应付退休生活开销的管道，让他们有更多积蓄应付晚年生活。
专门为年长者设计的小型公寓有扶手和防滑地面等设施。 （档案照片）
在条例放宽后获准出租整个单位的1万8000名屋主中，近三成的年龄在55岁以上，好些是退休人士。他们把屋子租出去后与孩子同住，每月收取的租金就用来补贴生活费。
建屋局指出，大部分屋主在出租组屋后是与家人同住，20％与儿女同住，另外40％则是和父母、兄弟姐妹或亲戚同住。
郑明良（58岁，以前是私人司机）在两年前就把宏茂桥的三房式单位出租给菲律宾籍专业人员，在扣除每月600元的房屋贷款后，他每月有额外1000元的“零用钱”。
他说：“儿子要我帮忙看顾两个孙子，于是我搬去和他们同住。宏茂桥的屋子租出去可以收租金，部分可用来偿还银行贷款。”
郑明良说：“我现在没打算把组屋卖掉，或许将来孙子长大了，自己可以搬回去住。”
套现①②③④
符合建屋局条例的组屋屋主，除了可通过出租整个单位套现，也可选择出租部分房间、大屋换小屋，或回售屋契给建屋局等方式套现。
建屋局数据显示，获准出租整个单位的屋主每年稳定增加，前年增幅高达50%，从2006年的8544名激增到2007年的将近1万3000名。（档案照片）
① 出租部分房间
三房式组屋顶多只能出租一个房间，四房式、五房式和公寓式组屋则最多可出租两个房间。
经济有困难的组屋屋主，如果无法把整个单位出租，可考虑把一些房间租出去，赚取额外收入来补贴生活费。屋主可继续住在原有的单位，既有瓦遮头又可收租金过日子。
由于居住在三房式或更大单位的屋主事先无须征询建屋局同意，便可把空余的房间租出去，因此无法统计目前到底有多少人这么做。
不过当局规定，出租房间，屋主必须继续住在屋子里，并根据屋型遵守房间的出租顶限，避免屋子过于拥挤或对邻居造成不便。
三房式组屋顶多只能出租一个房间，四房式、五房式和公寓式组屋则最多可出租两个房间。
组屋的租户人数也有限制。三房式组屋最多只能住6人，四房式、五房式和公寓式组屋则顶多可以住9人。
② 大屋换小屋
建屋局的数据显示，过去两年来，每年平均有4000人“大屋换小屋”，购买较小的单位来套现。
黄彼得（49岁，送货员）一家四口原本住在金文泰2道一个五房式组屋，他们今年初搬到附近4道的一个三房式单位。
黄彼得是在5年前以38万元在公开市场购得该五房式单位，今年初脱手时组屋叫价50多万元，但扣除购买三房式组屋所需的24万元，其实并没有赚到多少利润。
虽然新家面积较小，他却过得更加舒服自在，心头再没有“大石”压着。
他受访时说：“之前每个月都为应付1000多元的房屋贷款发愁。经常入不敷出，有一段时间工作不顺利，还拖欠建屋局好几个月的房贷。”
他说：“唯一的办法就是搬到较小的单位。现在轻松多了，负担没这么重，而且新家更靠近孩子的学校，孩子可以步行上学。”
建屋局的数据显示，过去两年来，每年平均有4000人像黄彼得一样大屋换小屋，选择“降级”。
它指出，屋主可考虑购买较小的单位来套现，这对年长居民来说特别有帮助。“随着孩子长大后要组织家庭，父母可考虑搬到较小的单位，并从脱售组屋来套现，应付晚年的生活费”。
③ 购买小型公寓
建屋局专为乐龄特别打造的小型公寓单位面积约为35平方米和45平方米，售价介于5万8000元至8万元，只供55岁以上公民申请。
搬到较小组屋是老年人利用现有组屋套现的其中一个选择，可帮助他们应付老年生活所需。
建屋局近年来就陆续建造了更多专门为年长者设计的小型公寓（studio apartment），以满足年长者的住屋需求。
这些为乐龄特别打造的小型公寓单位面积约为35平方米和45平方米，售价介于5万8000元至8万元，只供55岁以上公民申请。
自建屋局在1998年推出首批小型公寓后，这类项目就逐年增加，目前共有17个项目设有小型公寓，其中9个已完工，6个在建造中，其余两个已在去年12月和今年2月的预购组屋（BTO）项目中推出。
到目前为止，已面市的小型公寓单位共有2300个，它们都相当受落，认购率接近百分之百，当局接下来还会陆续推出更多单位。
建屋局会在未来半年建造1000个两三房式的小型组屋及小型公寓，确保有足够选择满足不同国人的住屋需求。
④ 屋契回购计划
目前只有三房式或以下的组屋屋主能参与这计划。
为进一步帮助年长者利用现有组屋套现，建屋局在3个月前推出了屋契回购计划（Lease Buyback Scheme），允许低收入的年长者在不需要搬出组屋的情况下，获得一笔现金和稳定的终身入息。
目前，只有三房式或以下的组屋屋主能参与这计划，当局正探讨把计划扩大到较大型组屋的可能性。
年长屋主可把二房或三房式组屋的部分屋契，以市价卖给建屋局套现。当局会保留30年屋契给他们，让他们继续在同一组屋养老。
申请加入计划的屋主须年满62岁，他们会获得5000元现金，其余收入须拨入公积金终身入息计划（CPF Life），让他们每月获取一笔固定收入。建屋局也会发出额外的1万元津贴给参与计划的屋主。
目前，全国约有2万5000户低收入家庭符合加入屋契回购计划的条件。建屋局至今共收到250多份申请。
我国有近90万户家庭居住在政府组屋，对许多人来说，组屋就是最有价值的资产和重要保值。
建屋发展局近年来先后推出多项措施，协助有需要的屋主利用组屋套取现金，作为额外收入应付生活所需或渡过经济难关；其中不少措施专为年长者而设，确保他们退休后仍有收入来源，补贴晚年的生活费。
怎样利用组屋套现？本报记者一一为读者介绍。
随着建屋局条例进一步放宽，符合出租资格的组屋约有68万1000单位，占全岛近90万个组屋的约76％。（何炳耀摄）经济放缓，有更多组屋住户因失业或收入减少而向建屋发展局申请出租整个单位，以套取现金解决燃眉之急。
建屋局提供给本报的数据显示，今年首四个月，共有4805个组屋获准整个出租，比去年每季度平均的3836个，增加了25%。
截至今年4月，总共有2万3000名屋主决定出租整个房子，其中近八成（1万8000个）是在2007年3月，组屋出租条例进一步放宽后获得批准。
条例放宽 更多人出租整间组屋
在有关条例放宽前，还没还清建屋局贷款的屋主必须住满10年后才能出租整个组屋，已还清贷款的屋主则须住满五年。
建屋局过后进一步放宽，允许受津贴组屋屋主只须住满五年、不受津贴组屋屋主住满三年即可出租整个组屋，但屋主必须事先取得建屋局同意。
随着条例放宽，符合出租资格的组屋约有68万1000个，占全岛近90万个组屋的约76％。
受津贴组屋指的是直接向建屋局购买的组屋，或向建屋局申请公积金购屋津贴购买的转售组屋。
建屋局指出，自有关条例在2003年首次放宽以来，获准出租整个单位的屋主每年稳定增加，前年条例进一步放宽后，增幅更是高达50%，从2006年的8544个，激增到2007年将近1万3000个。
入行12年的ERA高级分部董事陈瑞洁就留意到这一两年来，有更多人出租整个单位来套现，特别是去年底经济放缓之后。
她最近就帮忙一户经济陷入困境的家庭出租整个组屋。这家人住在淡滨尼一个四房式单位，兄妹俩照顾年迈的父母。
40出头的哥哥失业后久久找不到工作，还欠下贷款。他们原本打算把几年前购得的转售组屋卖掉来套现，可是仔细算过后发现，把整个房子出租较为划算。
他们于是暂时搬到亲戚家住，把每月收取到的1500元至1800元租金用以偿还贷款及应付生活费。
陈瑞洁说：“一般家庭遇到有人失业或减薪、难以维持生活费时，最直接的办法就是从组屋着手，例如把整个屋子或部分房间出租来套现。”
HSR房屋经纪孙爱云指出：“经济好的时候，也有不少人要出租房子，那主要是因为租金太吸引人。碰到经济低迷，更多人则是为了现金周转而出租组屋套现。”
她说：“除了把整个组屋出租，近来也有更多人选择把房间出租。我在报章上刊登分类广告，平均一天就会接到十多二十通询问电话。”
建屋局放宽条例 协助年长者应付退休生活开销
出租整个组屋的做法，除了帮助经济拮据的屋主渡过难关外，也为年长者提供多一个应付退休生活开销的管道，让他们有更多积蓄应付晚年生活。
专门为年长者设计的小型公寓有扶手和防滑地面等设施。 （档案照片）在条例放宽后获准出租整个单位的1万8000名屋主中，近三成的年龄在55岁以上，好些是退休人士。他们把屋子租出去后与孩子同住，每月收取的租金就用来补贴生活费。
建屋局指出，大部分屋主在出租组屋后是与家人同住，20％与儿女同住，另外40％则是和父母、兄弟姐妹或亲戚同住。
郑明良（58岁，以前是私人司机）在两年前就把宏茂桥的三房式单位出租给菲律宾籍专业人员，在扣除每月600元的房屋贷款后，他每月有额外1000元的“零用钱”。
他说：“儿子要我帮忙看顾两个孙子，于是我搬去和他们同住。宏茂桥的屋子租出去可以收租金，部分可用来偿还银行贷款。”
郑明良说：“我现在没打算把组屋卖掉，或许将来孙子长大了，自己可以搬回去住。”
套现①②③④
符合建屋局条例的组屋屋主，除了可通过出租整个单位套现，也可选择出租部分房间、大屋换小屋，或回售屋契给建屋局等方式套现。
建屋局数据显示，获准出租整个单位的屋主每年稳定增加，前年增幅高达50%，从2006年的8544名激增到2007年的将近1万3000名。（档案照片）① 出租部分房间
三房式组屋顶多只能出租一个房间，四房式、五房式和公寓式组屋则最多可出租两个房间。
经济有困难的组屋屋主，如果无法把整个单位出租，可考虑把一些房间租出去，赚取额外收入来补贴生活费。屋主可继续住在原有的单位，既有瓦遮头又可收租金过日子。
由于居住在三房式或更大单位的屋主事先无须征询建屋局同意，便可把空余的房间租出去，因此无法统计目前到底有多少人这么做。
不过当局规定，出租房间，屋主必须继续住在屋子里，并根据屋型遵守房间的出租顶限，避免屋子过于拥挤或对邻居造成不便。
三房式组屋顶多只能出租一个房间，四房式、五房式和公寓式组屋则最多可出租两个房间。
组屋的租户人数也有限制。三房式组屋最多只能住6人，四房式、五房式和公寓式组屋则顶多可以住9人。
② 大屋换小屋
建屋局的数据显示，过去两年来，每年平均有4000人“大屋换小屋”，购买较小的单位来套现。
黄彼得（49岁，送货员）一家四口原本住在金文泰2道一个五房式组屋，他们今年初搬到附近4道的一个三房式单位。
黄彼得是在5年前以38万元在公开市场购得该五房式单位，今年初脱手时组屋叫价50多万元，但扣除购买三房式组屋所需的24万元，其实并没有赚到多少利润。
虽然新家面积较小，他却过得更加舒服自在，心头再没有“大石”压着。
他受访时说：“之前每个月都为应付1000多元的房屋贷款发愁。经常入不敷出，有一段时间工作不顺利，还拖欠建屋局好几个月的房贷。”
他说：“唯一的办法就是搬到较小的单位。现在轻松多了，负担没这么重，而且新家更靠近孩子的学校，孩子可以步行上学。”
建屋局的数据显示，过去两年来，每年平均有4000人像黄彼得一样大屋换小屋，选择“降级”。
它指出，屋主可考虑购买较小的单位来套现，这对年长居民来说特别有帮助。“随着孩子长大后要组织家庭，父母可考虑搬到较小的单位，并从脱售组屋来套现，应付晚年的生活费”。
③ 购买小型公寓
建屋局专为乐龄特别打造的小型公寓单位面积约为35平方米和45平方米，售价介于5万8000元至8万元，只供55岁以上公民申请。
搬到较小组屋是老年人利用现有组屋套现的其中一个选择，可帮助他们应付老年生活所需。
建屋局近年来就陆续建造了更多专门为年长者设计的小型公寓（studio apartment），以满足年长者的住屋需求。
这些为乐龄特别打造的小型公寓单位面积约为35平方米和45平方米，售价介于5万8000元至8万元，只供55岁以上公民申请。
自建屋局在1998年推出首批小型公寓后，这类项目就逐年增加，目前共有17个项目设有小型公寓，其中9个已完工，6个在建造中，其余两个已在去年12月和今年2月的预购组屋（BTO）项目中推出。
到目前为止，已面市的小型公寓单位共有2300个，它们都相当受落，认购率接近百分之百，当局接下来还会陆续推出更多单位。
建屋局会在未来半年建造1000个两三房式的小型组屋及小型公寓，确保有足够选择满足不同国人的住屋需求。
④ 屋契回购计划
目前只有三房式或以下的组屋屋主能参与这计划。
为进一步帮助年长者利用现有组屋套现，建屋局在3个月前推出了屋契回购计划（Lease Buyback Scheme），允许低收入的年长者在不需要搬出组屋的情况下，获得一笔现金和稳定的终身入息。
目前，只有三房式或以下的组屋屋主能参与这计划，当局正探讨把计划扩大到较大型组屋的可能性。
年长屋主可把二房或三房式组屋的部分屋契，以市价卖给建屋局套现。当局会保留30年屋契给他们，让他们继续在同一组屋养老。
申请加入计划的屋主须年满62岁，他们会获得5000元现金，其余收入须拨入公积金终身入息计划（CPF Life），让他们每月获取一笔固定收入。建屋局也会发出额外的1万元津贴给参与计划的屋主。
目前，全国约有2万5000户低收入家庭符合加入屋契回购计划的条件。建屋局至今共收到250多份申请。
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