Source : The Business Times, September 1, 2009
THE Housing and Development Board yesterday launched Punggol Spectra under the build-to-order (BTO) system, following strong interest in the recent BTO project, Punggol Residences.
Punggol Spectra will offer 1,142 units, comprising 301 with two rooms, 285 units of three rooms and 556 with four rooms.
Located on Punggol Central, Punggol Spectra is within walking distance of Oasis LRT station and Tampines Expressway is just a short drive away, offering good connectivity to the rest of Singapore, HDB said. The precinct has commercial facilities such as shops, an eating house and a supermarket. The future Punggol Town Centre is minutes away. Educational institutions such as Horizon Primary School and Punggol Secondary School are also nearby.
Prices at Punggol Spectra range from $89,000 to $109,000 for the two-room flats, $151,000 to $179,000 for three-room flats and $234,000 to $293,000 for the four-room flats. These prices are lower than those for similar flats in the market, making them affordable for first-time buyers, HDB said.
Based on the income of flat applicants in the first half of this year, HDB expects first-time buyers will need to use only 20-26 per cent of their monthly household income to meet their housing loan commitment.
Showing posts with label HDB Related. Show all posts
Showing posts with label HDB Related. Show all posts
Thursday, September 3, 2009
Punggol Spectra To Offer New 2- And 3-Room Flats
Source : The Straits Times, Sep 1, 2009
THE Housing Board launched Punggol Spectra yesterday, the third of its build-to-order (BTO) projects in Punggol this year and the first to introduce two- and three-room flats.
Under the BTO scheme, flats are built only when a certain level of demand is reached.
Located in Punggol Central and a short drive from Tampines Expressway, Punggol Spectra will offer 301 two-roomers, 285 three-roomers, and 556 four-room flats.
The two-roomers of 46 to 47 sq m are priced at $89,000 to $109,000, and three-room flats of 69 sq m are selling for $151,000 to $179,000.
Four-room flats of 94 to 96 sq m are selling for $234,000 to $293,000. Similar, smaller standard resale flats sell for $310,000 to $357,000, said HDB.
First-time buyers with an average monthly household income of $5,000 or less can apply for an Additional CPF Housing Grant of up to $40,000.
PropNex corporate communications manager Adam Tan expects Spectra to be very well-received, as it is the first in the area to offer two- and three-room flats.
'Smaller families will be attracted to these units, given their attractive prices,' he said, adding that the median resale prices for two- and three-room flats across Singapore have not seen such affordable levels for more than two years.
Mr Tan expects the Spectra units to be at least four times oversubscribed. This follows the strong interest in the recent BTO project Punggol Residences, which was launched in July and was seven times oversubscribed.
Previous BTO projects in Punggol include Nautilus @ Punggol, launched in March, and premium project Punggol Regalia, launched last December.
According to HDB, this year's total BTO supply is expected to reach 8,000 units, located in towns such as Punggol, Sengkang and Sembawang.
Applications for the Spectra flats can be submitted online at HDB's website www.hdb.gov.sg until Sept 14.
THE Housing Board launched Punggol Spectra yesterday, the third of its build-to-order (BTO) projects in Punggol this year and the first to introduce two- and three-room flats.
Under the BTO scheme, flats are built only when a certain level of demand is reached.Located in Punggol Central and a short drive from Tampines Expressway, Punggol Spectra will offer 301 two-roomers, 285 three-roomers, and 556 four-room flats.
The two-roomers of 46 to 47 sq m are priced at $89,000 to $109,000, and three-room flats of 69 sq m are selling for $151,000 to $179,000.
Four-room flats of 94 to 96 sq m are selling for $234,000 to $293,000. Similar, smaller standard resale flats sell for $310,000 to $357,000, said HDB.
First-time buyers with an average monthly household income of $5,000 or less can apply for an Additional CPF Housing Grant of up to $40,000.
PropNex corporate communications manager Adam Tan expects Spectra to be very well-received, as it is the first in the area to offer two- and three-room flats.
'Smaller families will be attracted to these units, given their attractive prices,' he said, adding that the median resale prices for two- and three-room flats across Singapore have not seen such affordable levels for more than two years.
Mr Tan expects the Spectra units to be at least four times oversubscribed. This follows the strong interest in the recent BTO project Punggol Residences, which was launched in July and was seven times oversubscribed.
Previous BTO projects in Punggol include Nautilus @ Punggol, launched in March, and premium project Punggol Regalia, launched last December.
According to HDB, this year's total BTO supply is expected to reach 8,000 units, located in towns such as Punggol, Sengkang and Sembawang.
Applications for the Spectra flats can be submitted online at HDB's website www.hdb.gov.sg until Sept 14.
Wednesday, September 2, 2009
HDB Resale Prices To Rise
Source : The Straits Times, Sep 2, 2009
HDB resale flat prices - already at record high levels - are likely to continue rising this year, said National Development Minister Mah Bow Tan on Wednesday.
HDB resale prices rose 1.4 per cent in the second quarter to a record high. --ST PHOTO: ALPHONSUS CHERN
'The flat prices would probably go up ... by 1 per cent, 2 per cent,' said Mr Mah. 'It will just keep on going up if the economy recovers as people expect, and if confidence returns but affordability will always be there.'
HDB resale prices rose 1.4 per cent in the second quarter to a record high.
Resale flat prices go up in tandem with a very strong market, Mr Mah told reporters at the launch of the final skybridge at The Pinnacle@Duxton on Wednesday.
'We subsidised you when you buy and we increased the value of your flat when you live in it and... facilitate you to monetise it when you grow old. This is the best form of investment and welfare for the people,' said the minister.
Standing at 50 storeys, The Pinnacle@Duxton is Singapore's tallest public housing development.
It sits on the site of the area's first two HDB blocks, which were built 50 years ago. It was the first project in which an international architectural competition was called to get the best design ideas.
HDB resale flat prices - already at record high levels - are likely to continue rising this year, said National Development Minister Mah Bow Tan on Wednesday.
HDB resale prices rose 1.4 per cent in the second quarter to a record high. --ST PHOTO: ALPHONSUS CHERN'The flat prices would probably go up ... by 1 per cent, 2 per cent,' said Mr Mah. 'It will just keep on going up if the economy recovers as people expect, and if confidence returns but affordability will always be there.'
HDB resale prices rose 1.4 per cent in the second quarter to a record high.
Resale flat prices go up in tandem with a very strong market, Mr Mah told reporters at the launch of the final skybridge at The Pinnacle@Duxton on Wednesday.
'We subsidised you when you buy and we increased the value of your flat when you live in it and... facilitate you to monetise it when you grow old. This is the best form of investment and welfare for the people,' said the minister.
Standing at 50 storeys, The Pinnacle@Duxton is Singapore's tallest public housing development.
It sits on the site of the area's first two HDB blocks, which were built 50 years ago. It was the first project in which an international architectural competition was called to get the best design ideas.
半数是二房和三房式单位 榜鹅再推出预购组屋
Source : 《联合早报》September 1, 2009
市场对榜鹅预购组屋（BTO）反应热烈，建屋发展局打铁趁热，推出另一个规模更大预购组屋项目，其中半数单位是较小型的二房和三房式。
名为Punggol Spectra的这个项目，也是建屋局今年在榜鹅推出的首个设有二房和三房式单位的预购组屋。
Punggol Spectra是今年建屋局在榜鹅推出的首个设有二房和三房式的预购组屋。（建屋局构想图）
受访的房地产经纪相信，由于这批新组屋售价相当便宜，应该会特别受到低收入家庭、年轻夫妇和年长者欢迎，而且数量相当大，多少有助于舒缓市场对转售组屋需求高涨的压力。
Punggol Spectra共有1142个单位，是今年推出的首个超过千个单位的预购组屋项目；其中301个是二房式、285个三房式及556个四房式，预计可在2013年第一季建好。
它们的面积从46平方米至96平方米不等，二房式售价介于8万9000元至10万9000元，三房式15万1000元至17万9000元，四房式23万4000元至29万3000元。
四房式售价比不久前超额认购六倍的预购组屋Punggol Residences来得低，后者售价介于26万4000元至32万2000元。同区同类转售组屋则要卖31万元至35万7000元。
建屋局说，新一批组屋售价比市场上同等类型单位来得低，是第一次购屋者负担得起的价格。
它说：“根据今年上半年组屋申请者的收入来看，第一次购屋者预计只需动用到家庭月入的20%至26%来偿还房屋贷款。”
昨天是Punggol Spectra接受申请第一天，截至傍晚5时，1142个单位已有233份申请。
新组屋位于榜鹅中路，靠近榜鹅东轻轨环线的绿洲站（Oasis），离淡滨尼高速公路不远，仅离未来榜鹅镇中心几分钟路程。附近除设有零售和小吃店及超市外，也靠近励众小学和培道中学等学校。
博纳（PropNex）集团总裁伊斯迈受访时说，建屋局推出这批预购组屋正合时宜，他相信市场反应会很热烈，尤其是二房和三房式的需求很高，因为当局已有好一段日子未推出小型预购组屋单位。
他说：“最近组屋转售价上涨不少，转售指数已创下历史新高，加上溢价上涨，转售组屋价格已攀升到不是许多新婚夫妇能负担得起的水平，新推出的预购组屋相信可应付他们的需求。”
伊斯迈指出，Punggol Spectra售价比同区转售组屋便宜至少30%，“相信它的认购率会超出五倍”。
ERA助理副总裁林东荣指出，由于新组屋有一半是四房式单位，多少会影响同区四房式转售组屋价格。
根据ERA最近完成的交易价，榜鹅四房式转售组屋平均售价介于30万元至35万元，溢价至少超出5000元至1万元。
他说：“新组屋售价这么便宜，那些认为转售组屋价格太贵的买家，应该会对新组屋有兴趣。”
但OrangeTee橙地产业执行董事陈道俊不认为Punggol Spectra售价，会对同区转售组屋售价造成太大压力，“虽然两者价格有些差距，但仍处于可接受水平”。
公众可通过建屋局网站（www.hdb.gov.sg）提出新组屋申请，并可到大巴窑建屋局中心3楼展示厅参观及索取销售资料，截止日期是本月14日。
市场对榜鹅预购组屋（BTO）反应热烈，建屋发展局打铁趁热，推出另一个规模更大预购组屋项目，其中半数单位是较小型的二房和三房式。
名为Punggol Spectra的这个项目，也是建屋局今年在榜鹅推出的首个设有二房和三房式单位的预购组屋。
Punggol Spectra是今年建屋局在榜鹅推出的首个设有二房和三房式的预购组屋。（建屋局构想图）受访的房地产经纪相信，由于这批新组屋售价相当便宜，应该会特别受到低收入家庭、年轻夫妇和年长者欢迎，而且数量相当大，多少有助于舒缓市场对转售组屋需求高涨的压力。
Punggol Spectra共有1142个单位，是今年推出的首个超过千个单位的预购组屋项目；其中301个是二房式、285个三房式及556个四房式，预计可在2013年第一季建好。
它们的面积从46平方米至96平方米不等，二房式售价介于8万9000元至10万9000元，三房式15万1000元至17万9000元，四房式23万4000元至29万3000元。
四房式售价比不久前超额认购六倍的预购组屋Punggol Residences来得低，后者售价介于26万4000元至32万2000元。同区同类转售组屋则要卖31万元至35万7000元。
建屋局说，新一批组屋售价比市场上同等类型单位来得低，是第一次购屋者负担得起的价格。
它说：“根据今年上半年组屋申请者的收入来看，第一次购屋者预计只需动用到家庭月入的20%至26%来偿还房屋贷款。”
昨天是Punggol Spectra接受申请第一天，截至傍晚5时，1142个单位已有233份申请。
新组屋位于榜鹅中路，靠近榜鹅东轻轨环线的绿洲站（Oasis），离淡滨尼高速公路不远，仅离未来榜鹅镇中心几分钟路程。附近除设有零售和小吃店及超市外，也靠近励众小学和培道中学等学校。
博纳（PropNex）集团总裁伊斯迈受访时说，建屋局推出这批预购组屋正合时宜，他相信市场反应会很热烈，尤其是二房和三房式的需求很高，因为当局已有好一段日子未推出小型预购组屋单位。
他说：“最近组屋转售价上涨不少，转售指数已创下历史新高，加上溢价上涨，转售组屋价格已攀升到不是许多新婚夫妇能负担得起的水平，新推出的预购组屋相信可应付他们的需求。”
伊斯迈指出，Punggol Spectra售价比同区转售组屋便宜至少30%，“相信它的认购率会超出五倍”。
ERA助理副总裁林东荣指出，由于新组屋有一半是四房式单位，多少会影响同区四房式转售组屋价格。
根据ERA最近完成的交易价，榜鹅四房式转售组屋平均售价介于30万元至35万元，溢价至少超出5000元至1万元。
他说：“新组屋售价这么便宜，那些认为转售组屋价格太贵的买家，应该会对新组屋有兴趣。”
但OrangeTee橙地产业执行董事陈道俊不认为Punggol Spectra售价，会对同区转售组屋售价造成太大压力，“虽然两者价格有些差距，但仍处于可接受水平”。
公众可通过建屋局网站（www.hdb.gov.sg）提出新组屋申请，并可到大巴窑建屋局中心3楼展示厅参观及索取销售资料，截止日期是本月14日。
Monday, August 31, 2009
Punggol Waterway On Course
Source : The Straits Times, Aug 31, 2009
THE development of the Punggol Waterway is progressing smoothly into the next phase and is on track to be ready by end of next year.
The Housing Board on Monday awarded a $58.9 million contract for the construction of the second part - comprising 1.8km - of the 4.2 km waterway to Koh Brothers Building and Civil Engineering Contractor (Pte) Ltd.
� The first part of the waterway, comprising 2.4km, was also awarded to Koh Brothers in January.
Since the groundbreaking in April, works on the waterway are progressing well, said the HDB in a statement on Monday.
'With the award of the construction works for Part 2 of the Waterway, HDB is committed to complete the Waterway, which is a key element to realise the Remarking Our Heartland plans for Punggol 21+, on schedule by enD-2010,' said the board.��
� Besides engineering works on the remaining 1.8 km of the waterway, a key component of Part 2 of the Punggol Waterway works will see the construction of a 10m promenade on both sides of the Waterway, which will allow residents to take leisurely stroll and enjoy other activities along the waterway when works are completed.
Besides providing fun-filled and exciting recreational activities such as water sports in the heart of Punggol Town, the Waterway sets the stage for 21,000 homes that will eventually be built along it in an environment nestled by weaving water and lush greenery.
THE development of the Punggol Waterway is progressing smoothly into the next phase and is on track to be ready by end of next year.
The Housing Board on Monday awarded a $58.9 million contract for the construction of the second part - comprising 1.8km - of the 4.2 km waterway to Koh Brothers Building and Civil Engineering Contractor (Pte) Ltd.
� The first part of the waterway, comprising 2.4km, was also awarded to Koh Brothers in January.
Since the groundbreaking in April, works on the waterway are progressing well, said the HDB in a statement on Monday.
'With the award of the construction works for Part 2 of the Waterway, HDB is committed to complete the Waterway, which is a key element to realise the Remarking Our Heartland plans for Punggol 21+, on schedule by enD-2010,' said the board.��
� Besides engineering works on the remaining 1.8 km of the waterway, a key component of Part 2 of the Punggol Waterway works will see the construction of a 10m promenade on both sides of the Waterway, which will allow residents to take leisurely stroll and enjoy other activities along the waterway when works are completed.
Besides providing fun-filled and exciting recreational activities such as water sports in the heart of Punggol Town, the Waterway sets the stage for 21,000 homes that will eventually be built along it in an environment nestled by weaving water and lush greenery.
1,142 Punggol Flats For Sale
Source : The Straits Times, Aug 31, 2009
HDB is putting on sale 1,142 units of flats at Punggol Spectra under the Build-To-Order (BTO) system today, following strong interest in the recent BTO project, Punggol Residences.
--PHOTO: HDB
The flats comprise 301 two-room units, 285 three-room units and 556 four-roomers.
The prices range from $89,000 to $109,000 for the two-room flats, $151,000 to $179,000 for the three-room flats and $234,000 to $293,000 for the four-room flats.
These are priced below similar flats in the market and are affordable to first-time flat buyers, said HDB in a statement on Monday.
Situated along Punggol Central, Punggol Spectra is within walking distance to Oasis LRT station.
The Tampines Expressway is a short drive away, thus offering good connectivity to the rest of Singapore.
The precinct offers commercial facilities such as shops, eating house and supermarket. The future Punggol Town Centre is just minutes away. Educational institutions such as Horizon Primary School and Punggol Secondary School are also located in the vicinity.
HDB said based on the income of flat applicants in the first half of this year, it is expected that first time flat buyers will only need to use between 20 to 26 per cent of their monthly household income to meet their housing loan commitments if they buy a flat at Punggol Spectra.
'This is well below the 30 per centinternational benchmark for affordable housing,' it said.
On top of a market subsidy on the selling price, eligible first-timers whose average monthly household income is $5,000 or less can also apply for an Additional CPF Housing Grant (AHG) of up to $40,000. The AHG can be used to offset the initial downpayment.
Including this exercise, HDB has offered about 4,800 flats under BTO and other sales exercises this year.
Flat buyers can look forward to more BTO projects ahead, said the board. These projects will be located in towns such as Punggol, Sengkang, and Sembawang.
More details will be provided when the projects are launched.
The total BTO supply for this year is expected to reach 8,000 units.
'HDB will continue to monitor the market situation closely, to ensure that there is adequate and affordable supply of public housing,' said the statement.
Applications for the BTO can be submitted online from Monday to Sept 14.
For enquiries, the public can e-mail hdbsales@hdb.gov.sg or call the Sales/Resale Customer Service Line at 1800-866 3066 on weekdays from 8 am to 5 pm.
They can also visit the HDB Sales Office to speak with Customer Service Officers during office hours (Mon to Fri 8 am to 5 pm, Saturday 8 am to 1 pm).
HDB is putting on sale 1,142 units of flats at Punggol Spectra under the Build-To-Order (BTO) system today, following strong interest in the recent BTO project, Punggol Residences.
--PHOTO: HDBThe flats comprise 301 two-room units, 285 three-room units and 556 four-roomers.
The prices range from $89,000 to $109,000 for the two-room flats, $151,000 to $179,000 for the three-room flats and $234,000 to $293,000 for the four-room flats.
These are priced below similar flats in the market and are affordable to first-time flat buyers, said HDB in a statement on Monday.
Situated along Punggol Central, Punggol Spectra is within walking distance to Oasis LRT station.
The Tampines Expressway is a short drive away, thus offering good connectivity to the rest of Singapore.
The precinct offers commercial facilities such as shops, eating house and supermarket. The future Punggol Town Centre is just minutes away. Educational institutions such as Horizon Primary School and Punggol Secondary School are also located in the vicinity.
HDB said based on the income of flat applicants in the first half of this year, it is expected that first time flat buyers will only need to use between 20 to 26 per cent of their monthly household income to meet their housing loan commitments if they buy a flat at Punggol Spectra.
'This is well below the 30 per centinternational benchmark for affordable housing,' it said.
On top of a market subsidy on the selling price, eligible first-timers whose average monthly household income is $5,000 or less can also apply for an Additional CPF Housing Grant (AHG) of up to $40,000. The AHG can be used to offset the initial downpayment.
Including this exercise, HDB has offered about 4,800 flats under BTO and other sales exercises this year.
Flat buyers can look forward to more BTO projects ahead, said the board. These projects will be located in towns such as Punggol, Sengkang, and Sembawang.
More details will be provided when the projects are launched.
The total BTO supply for this year is expected to reach 8,000 units.
'HDB will continue to monitor the market situation closely, to ensure that there is adequate and affordable supply of public housing,' said the statement.
Applications for the BTO can be submitted online from Monday to Sept 14.
For enquiries, the public can e-mail hdbsales@hdb.gov.sg or call the Sales/Resale Customer Service Line at 1800-866 3066 on weekdays from 8 am to 5 pm.
They can also visit the HDB Sales Office to speak with Customer Service Officers during office hours (Mon to Fri 8 am to 5 pm, Saturday 8 am to 1 pm).
Thursday, August 20, 2009
Cash Upfront For HDB Resale Flats Doubles In A Month
Source : The Straits Times, August 20 2009
Private property exuberance spills into public housing, with units selling $10k over valuation.
THE amount of cash needed upfront to buy an HDB flat resale roughly doubled last month as the exuberant sentiment in the private homes market spilled over into public housing.
Three property agencies told The Straits Times that the median cash-over-valuation, or COV, has shot up across all flat types and has gone above $10,000 for some units.
-- ST PHOTO: ALPHONSUS CHERN
In two of the more startling examples, a five-room flat at Depot Road sold for $70,000 above its $490,000 valuation, while an executive flat in Pasir Ris sold for $35,000 above its COV of $550,000, according to figures from PropNex and the HSR Property Group.
COV is cash that buyers pay to a seller over and above a flat's market valuation. It cannot be covered by a mortgage or CPF money, and so serves as an indicator of flat affordability.
What is surprising is the speed at which it doubled in a month, said Mr Colin Tan, Chesterton Suntec International's research and consultancy director.
Figures from the Housing Board (HDB) for the April to June quarter showed that median COV was zero for five-room and executive flats.
But data from PropNex, ERA Asia Pacific and C&H Realty for last month showed that this now ranged from $5,000 to $13,000.
The three agencies have a share of about 70 per cent of the HDB resale market between them.
There was a similar surge for three- and four-room flat types: HDB data put median COV at $5,000 in the second quarter, but the agencies said it rose to the region of $10,000 to $15,000 last month.
Based on ERA's sales, the median COV for three-room units rose from $6,000 in the second quarter to $14,000 last month. The median COV is a mid-point: Half the units were sold for a COV above that value, and half below.
Industry observers say that the COV rise was inevitable given that the optimism in the private market was bound to spread to HDB flats.
HDB flat prices have staged a surprising comeback amid the recession, reversing a first-quarter dip of 0.8 per cent to rise 1.4 per cent in the second quarter and reach a historical high.
Analysts now predict further price increases for resale flats for the third quarter on the back of climbing COVs - as long as buying momentum is sustained.
PropNex chief executive Mohamed Ismail said high demand for resale flats is supporting surging COVs, as supply remains tight.
A cascading effect in the market is driving buyers to more affordable sectors.
Chesterton's Mr Tan said some buyers who are being priced out of the rebounding private market are turning to HDB resale flats.
Private home prices have started to climb, buoyed by high buying activity that saw a stunning 2,767 units sold last month.
This, in turn, has resulted in first-time HDB buyers, hit by soaring COVs, being forced out of the resale market and into new HDB flats, said ERA associate director Eugene Lim.
This is already evident: The HDB was flooded by 5,392 applications for 769 flats at the recent launch of Punggol Residences. Applications closed last week.
That is a subscription rate of seven times in a market where a typical rate is three or four times.
New HDB projects, which take three years to build, have not seen such numbers since the 2007 property boom.
However, C&H Realty managing director Albert Lu observed that most of the sales are still done at reasonable COV levels of around $10,000.
'There are some unrealistic sellers asking for high COVs as in the last boom, but buyers can choose not to bite,' he said.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak noted that mass market private properties have a strong link to HDB resale flats, and COVs will stop rising only when mass market buying interest dies out.
Banking executive Goh Hui Min, 25, is one HDB buyer who is glad she bought her five-room flat in Telok Blangah for $590,000 about a month ago before the latest COV rises.
'I paid $35,000 below the flat's valuation, which, given the current market, is quite a fabulous deal,' she said.
Private property exuberance spills into public housing, with units selling $10k over valuation.
THE amount of cash needed upfront to buy an HDB flat resale roughly doubled last month as the exuberant sentiment in the private homes market spilled over into public housing.
Three property agencies told The Straits Times that the median cash-over-valuation, or COV, has shot up across all flat types and has gone above $10,000 for some units.
-- ST PHOTO: ALPHONSUS CHERNIn two of the more startling examples, a five-room flat at Depot Road sold for $70,000 above its $490,000 valuation, while an executive flat in Pasir Ris sold for $35,000 above its COV of $550,000, according to figures from PropNex and the HSR Property Group.
COV is cash that buyers pay to a seller over and above a flat's market valuation. It cannot be covered by a mortgage or CPF money, and so serves as an indicator of flat affordability.
What is surprising is the speed at which it doubled in a month, said Mr Colin Tan, Chesterton Suntec International's research and consultancy director.
Figures from the Housing Board (HDB) for the April to June quarter showed that median COV was zero for five-room and executive flats.
But data from PropNex, ERA Asia Pacific and C&H Realty for last month showed that this now ranged from $5,000 to $13,000.
The three agencies have a share of about 70 per cent of the HDB resale market between them.
There was a similar surge for three- and four-room flat types: HDB data put median COV at $5,000 in the second quarter, but the agencies said it rose to the region of $10,000 to $15,000 last month.
Based on ERA's sales, the median COV for three-room units rose from $6,000 in the second quarter to $14,000 last month. The median COV is a mid-point: Half the units were sold for a COV above that value, and half below.
Industry observers say that the COV rise was inevitable given that the optimism in the private market was bound to spread to HDB flats.
HDB flat prices have staged a surprising comeback amid the recession, reversing a first-quarter dip of 0.8 per cent to rise 1.4 per cent in the second quarter and reach a historical high.
Analysts now predict further price increases for resale flats for the third quarter on the back of climbing COVs - as long as buying momentum is sustained.
PropNex chief executive Mohamed Ismail said high demand for resale flats is supporting surging COVs, as supply remains tight.
A cascading effect in the market is driving buyers to more affordable sectors.
Chesterton's Mr Tan said some buyers who are being priced out of the rebounding private market are turning to HDB resale flats.
Private home prices have started to climb, buoyed by high buying activity that saw a stunning 2,767 units sold last month.
This, in turn, has resulted in first-time HDB buyers, hit by soaring COVs, being forced out of the resale market and into new HDB flats, said ERA associate director Eugene Lim.
This is already evident: The HDB was flooded by 5,392 applications for 769 flats at the recent launch of Punggol Residences. Applications closed last week.
That is a subscription rate of seven times in a market where a typical rate is three or four times.
New HDB projects, which take three years to build, have not seen such numbers since the 2007 property boom.
However, C&H Realty managing director Albert Lu observed that most of the sales are still done at reasonable COV levels of around $10,000.
'There are some unrealistic sellers asking for high COVs as in the last boom, but buyers can choose not to bite,' he said.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak noted that mass market private properties have a strong link to HDB resale flats, and COVs will stop rising only when mass market buying interest dies out.
Banking executive Goh Hui Min, 25, is one HDB buyer who is glad she bought her five-room flat in Telok Blangah for $590,000 about a month ago before the latest COV rises.
'I paid $35,000 below the flat's valuation, which, given the current market, is quite a fabulous deal,' she said.
Wednesday, August 19, 2009
组屋转售溢价 上月冲破一万
Source : 《联合早报》August 19, 2009
我国经济趋稳带动市场良好情绪，组屋转售市场也迅速回暖，各类型组屋的溢价上个月显著上涨，冲破1万元水平。
博纳集团（Propnex）和ERA房地产公司根据各自交易量提供本报的最新中位数现金溢价（median COV）数据显示，7月份的组屋转售溢价明显上扬，显示人们对转售组屋的需求增强，对未来整体的经济情况更感乐观。今年上半年，转售组屋的溢价平均只有5000元左右。
三房和四房式小型组屋的溢价增幅最为明显，买主现在更愿意付出比估价高出1万元至1万5000元的价钱；五房式和公寓式组屋等大型组屋也卖得好价，平均有5000元至1万元的溢价，摆脱以往只能以低于估价出售的“命运”。
溢价是指组屋估价和卖价之间的落差。在过去两年经济大好时，组屋溢价甚至可高达2万元至3万元不等。博纳集团和ERA房地产公司的组屋转售市场占有率分别约达30%和45%。
博纳集团房地产经纪潘德玲上月底刚以7万元溢价将一个位于红山区德普路（Depot Road）、25楼高的四房式组屋卖出，成交价为56万元。她指出，这算是特殊情况，因为买主是在集体出售获利的屋主，有能力出高价买下心仪单位。
不过，转售组屋溢价确实呈现上升趋势。她说：“如果地点好、屋子条件不错，现在要卖得好价钱并不难。四房式组屋目前比较抢手，溢价可以高达三四万元，五房式的溢价则是一两万元。不过，市场上还是有不少单位是以估价卖出。”
ERA房地产公司助理副总裁林东荣受访时分析说，整体经济稳定下来制造了有利因素，人们普遍认为新加坡经济已走出谷底，所以原本暂时按兵不动的买主决定纷纷进场购屋。
“另外，新加坡有大批永久居民都需要购买转售组屋，转售组屋的需求其实一直存在，即使经济转弱，其价格也不会大幅度滑落。”
私宅价格近期迅速飙升，也促使部分原本打算购买私人公寓的夫妇不得不调整目标，改而购买转售组屋。
博纳集团总裁伊斯迈则认为，永久居民人口增多、新组屋的等候时间较长，加上市场上已经没有太多多余的组屋供应，都是导致转售组屋需求进一步上升的因素。
我国今年第一季的组屋转售价指数下跌0.8%，结束两年多的增长势头。然而，这个情况并没有持续太久，组屋转售价到了第二季便止跌回升，上涨1.4%。
伊斯迈认为，转售组屋的价格将持续稳健上升，预料将增加约3%。不过，业者也指出，转售组屋价格上调的增幅不会太快，溢价也不太可能上升到2007年的超高水平。这是因为目前的市场情况和两年前很不同，当时有集体出售热潮、股市和经济增长也表现强劲、人们的花红可观等，给市场注入兴奋剂。
我国经济趋稳带动市场良好情绪，组屋转售市场也迅速回暖，各类型组屋的溢价上个月显著上涨，冲破1万元水平。
博纳集团（Propnex）和ERA房地产公司根据各自交易量提供本报的最新中位数现金溢价（median COV）数据显示，7月份的组屋转售溢价明显上扬，显示人们对转售组屋的需求增强，对未来整体的经济情况更感乐观。今年上半年，转售组屋的溢价平均只有5000元左右。
三房和四房式小型组屋的溢价增幅最为明显，买主现在更愿意付出比估价高出1万元至1万5000元的价钱；五房式和公寓式组屋等大型组屋也卖得好价，平均有5000元至1万元的溢价，摆脱以往只能以低于估价出售的“命运”。
溢价是指组屋估价和卖价之间的落差。在过去两年经济大好时，组屋溢价甚至可高达2万元至3万元不等。博纳集团和ERA房地产公司的组屋转售市场占有率分别约达30%和45%。
博纳集团房地产经纪潘德玲上月底刚以7万元溢价将一个位于红山区德普路（Depot Road）、25楼高的四房式组屋卖出，成交价为56万元。她指出，这算是特殊情况，因为买主是在集体出售获利的屋主，有能力出高价买下心仪单位。
不过，转售组屋溢价确实呈现上升趋势。她说：“如果地点好、屋子条件不错，现在要卖得好价钱并不难。四房式组屋目前比较抢手，溢价可以高达三四万元，五房式的溢价则是一两万元。不过，市场上还是有不少单位是以估价卖出。”
ERA房地产公司助理副总裁林东荣受访时分析说，整体经济稳定下来制造了有利因素，人们普遍认为新加坡经济已走出谷底，所以原本暂时按兵不动的买主决定纷纷进场购屋。
“另外，新加坡有大批永久居民都需要购买转售组屋，转售组屋的需求其实一直存在，即使经济转弱，其价格也不会大幅度滑落。”
私宅价格近期迅速飙升，也促使部分原本打算购买私人公寓的夫妇不得不调整目标，改而购买转售组屋。
博纳集团总裁伊斯迈则认为，永久居民人口增多、新组屋的等候时间较长，加上市场上已经没有太多多余的组屋供应，都是导致转售组屋需求进一步上升的因素。
我国今年第一季的组屋转售价指数下跌0.8%，结束两年多的增长势头。然而，这个情况并没有持续太久，组屋转售价到了第二季便止跌回升，上涨1.4%。
伊斯迈认为，转售组屋的价格将持续稳健上升，预料将增加约3%。不过，业者也指出，转售组屋价格上调的增幅不会太快，溢价也不太可能上升到2007年的超高水平。这是因为目前的市场情况和两年前很不同，当时有集体出售热潮、股市和经济增长也表现强劲、人们的花红可观等，给市场注入兴奋剂。
Monday, August 17, 2009
可骑马、垂钓、练高球……榜鹅濒水步道 休闲设施齐备
Source : 《联合早报》August 16, 2009
榜鹅镇水道四个月前开凿，镇上另一主要工程——4.9公里长濒水步道也在昨天动工，把榜鹅打造为濒水市镇的工程如火如荼，朝实现“优质榜鹅21”愿景跨前一步。
耗资1670万元
耗资1670万元兴建的濒水步道预料2011年第一季竣工。它以榜鹅码头为起点，环绕整条河畔，直达榜鹅东的实龙岗河岸。
榜鹅濒水步道。（市建局构想图）
濒水步道宽15公尺，沿途设健身站、钓鱼台、小亭子等休闲设施，让公众一边观赏濒水风光，一边垂钓、骑马、练习高尔夫球。
副总理兼国防部长张志贤昨天为榜鹅濒水步道主持动土仪式。他说，步道将与150公里长的环岛走道衔接，以让住在其他地方的国人也能前去漫步。张志贤也是白沙—榜鹅集选区议员。
市区重建局在2002年推出公园与河道计划时，重点发展榜鹅尾为综合水上及消闲活动场所，并开辟濒水步道，连接榜鹅尾和实龙岗河畔两个体育及休闲中心，也衔接盛港公园与榜鹅公园，让居民沿道散步或骑脚踏车，从盛港通往榜鹅尾享受大自然景色。
榜鹅濒水步道分为三段，主题不同。从榜鹅码头开始的“榜鹅尾径”长1.2公里，将建0.6公顷公园及莲花池为地标；面向实龙岗岛（前称哥尼岛）的2.4公里步道称为“自然径”，保留原有花草树木，也栽种其他植物，确保榜鹅的“纯朴海岸”（rustic coast）景色不变，也增添姿彩；最后1.3公里步道称为“河滨径”，设三个眺望台。
除濒水步道昨天动土，总面积22公顷的两个体育及休闲中心建筑工程也已展开。榜鹅尾的外展学校营地去年建成，骑马中心预料明年完工。
榜鹅东苗圃已开始营业，附近餐饮设施、露天剧场、多用途场地工程也展开，未来将建高尔夫球练习场及其他体育设施。
榜鹅发展计划让许多居民引颈期待，住在榜鹅六年的唐国华（36岁，银行经理）受访时说，濒水步道将提升居民的生活素质。
他说：“榜鹅的蜕变惊人，过去只有一个迷你市场，现在有三个超级市场。交通也改善许多，巴士、地铁和轻轨列车已投入服务。政府多年前设定的发展愿景已不是纸上谈兵。”
张志贤说，榜鹅发展步伐视组屋需求而定，最新的预购组屋项目Punggol Residences反应踊跃，说明榜鹅组屋非常抢手，人们都殷切期望其他发展项目早日完工。
国家发展部长马宝山和白沙—榜鹅集选区其他议员也出席动土仪式。议员刘钅梦琳说，榜鹅组屋需求强劲，显示许多人想落户榜鹅，建屋发展局将推出更多组屋。
榜鹅镇水道四个月前开凿，镇上另一主要工程——4.9公里长濒水步道也在昨天动工，把榜鹅打造为濒水市镇的工程如火如荼，朝实现“优质榜鹅21”愿景跨前一步。
耗资1670万元
耗资1670万元兴建的濒水步道预料2011年第一季竣工。它以榜鹅码头为起点，环绕整条河畔，直达榜鹅东的实龙岗河岸。
榜鹅濒水步道。（市建局构想图）
濒水步道宽15公尺，沿途设健身站、钓鱼台、小亭子等休闲设施，让公众一边观赏濒水风光，一边垂钓、骑马、练习高尔夫球。
副总理兼国防部长张志贤昨天为榜鹅濒水步道主持动土仪式。他说，步道将与150公里长的环岛走道衔接，以让住在其他地方的国人也能前去漫步。张志贤也是白沙—榜鹅集选区议员。
市区重建局在2002年推出公园与河道计划时，重点发展榜鹅尾为综合水上及消闲活动场所，并开辟濒水步道，连接榜鹅尾和实龙岗河畔两个体育及休闲中心，也衔接盛港公园与榜鹅公园，让居民沿道散步或骑脚踏车，从盛港通往榜鹅尾享受大自然景色。
榜鹅濒水步道分为三段，主题不同。从榜鹅码头开始的“榜鹅尾径”长1.2公里，将建0.6公顷公园及莲花池为地标；面向实龙岗岛（前称哥尼岛）的2.4公里步道称为“自然径”，保留原有花草树木，也栽种其他植物，确保榜鹅的“纯朴海岸”（rustic coast）景色不变，也增添姿彩；最后1.3公里步道称为“河滨径”，设三个眺望台。
除濒水步道昨天动土，总面积22公顷的两个体育及休闲中心建筑工程也已展开。榜鹅尾的外展学校营地去年建成，骑马中心预料明年完工。
榜鹅东苗圃已开始营业，附近餐饮设施、露天剧场、多用途场地工程也展开，未来将建高尔夫球练习场及其他体育设施。
榜鹅发展计划让许多居民引颈期待，住在榜鹅六年的唐国华（36岁，银行经理）受访时说，濒水步道将提升居民的生活素质。
他说：“榜鹅的蜕变惊人，过去只有一个迷你市场，现在有三个超级市场。交通也改善许多，巴士、地铁和轻轨列车已投入服务。政府多年前设定的发展愿景已不是纸上谈兵。”
张志贤说，榜鹅发展步伐视组屋需求而定，最新的预购组屋项目Punggol Residences反应踊跃，说明榜鹅组屋非常抢手，人们都殷切期望其他发展项目早日完工。
国家发展部长马宝山和白沙—榜鹅集选区其他议员也出席动土仪式。议员刘钅梦琳说，榜鹅组屋需求强劲，显示许多人想落户榜鹅，建屋发展局将推出更多组屋。
Sunday, August 16, 2009
Punggol Vision A Step Closer
Source : The Straits Times, Aug 15, 2009
THE date is March 2011. From an elevated viewing platform at Punggol Point, residents are looking out onto tranquil waters, and strolling along a sandy beach while enjoying the sea breeze.
It has so far offered about 6,500 new flats in Punggol since it unveiled grand plans for the former fishing village to become the only waterfront public housing project in August 2007. -- PHOTO: NP
Along a 4.9 kilometre promenade which begins here, they can also access playgrounds, fitness corners, fishing spots and even a horse riding school, flanked by eateries on this route which are set alight when the sun sets.
This $16.7 million Punggol Promenade - part of the grand vision to transform the former backwater village into Singapore's iconic suburban waterfront town - took a step closer to reality yesterday as construction began.
With this ground-breaking, 'we are one step closer to realising the vision of Punggol as a beautiful waterfront town with an array of leisure opportunities,' said Deputy Prime Minister Prime Minister Teo Chee Hean yesterday at the ceremony. 'We're all very excited by... the developments.'
He noted that fresh plans for the walkway, released by the Urban Redevelopment Authority yesterday, had integrated feedback from residents such as including fitness corners along the route.
This walkway is part of a 150km 'round-island route' which will allow users walk, cycle, or jog around the whole island eventually - connecting Singaporeans 'not only psychologically, but physically', added Mr Teo.
He was accompanied by National Development Minister Mah Bow Tan, north-east district mayor Teo Ser Luck, and MPs from Pasir Ris-Punggol GRC at the ceremony.
Developments in Punggol have accelerated in the last two years since Prime Minister Lee Hsien Loong offered a new vision for it - called Punggol 21-plus - in his 2007 National Day Rally speech.
It has not always been smooth sailing for Punggol, which more than 10 years ago had a population of only 500. The vision for its transformation began as early as 1996, when it was announced by then-prime minister Goh Chok Tong.
Read the full story in The Sunday Times.
THE date is March 2011. From an elevated viewing platform at Punggol Point, residents are looking out onto tranquil waters, and strolling along a sandy beach while enjoying the sea breeze.
It has so far offered about 6,500 new flats in Punggol since it unveiled grand plans for the former fishing village to become the only waterfront public housing project in August 2007. -- PHOTO: NPAlong a 4.9 kilometre promenade which begins here, they can also access playgrounds, fitness corners, fishing spots and even a horse riding school, flanked by eateries on this route which are set alight when the sun sets.
This $16.7 million Punggol Promenade - part of the grand vision to transform the former backwater village into Singapore's iconic suburban waterfront town - took a step closer to reality yesterday as construction began.
With this ground-breaking, 'we are one step closer to realising the vision of Punggol as a beautiful waterfront town with an array of leisure opportunities,' said Deputy Prime Minister Prime Minister Teo Chee Hean yesterday at the ceremony. 'We're all very excited by... the developments.'
He noted that fresh plans for the walkway, released by the Urban Redevelopment Authority yesterday, had integrated feedback from residents such as including fitness corners along the route.
This walkway is part of a 150km 'round-island route' which will allow users walk, cycle, or jog around the whole island eventually - connecting Singaporeans 'not only psychologically, but physically', added Mr Teo.
He was accompanied by National Development Minister Mah Bow Tan, north-east district mayor Teo Ser Luck, and MPs from Pasir Ris-Punggol GRC at the ceremony.
Developments in Punggol have accelerated in the last two years since Prime Minister Lee Hsien Loong offered a new vision for it - called Punggol 21-plus - in his 2007 National Day Rally speech.
It has not always been smooth sailing for Punggol, which more than 10 years ago had a population of only 500. The vision for its transformation began as early as 1996, when it was announced by then-prime minister Goh Chok Tong.
Read the full story in The Sunday Times.
Thursday, August 13, 2009
一个单位约七人申请 榜鹅预购组屋抢手
Source : 《联合早报》August 13, 2009
尽管经济前景不明朗，榜鹅预购组屋（BTO）项目Punggol Residences的申购反应非常热烈，每个单位平均有7人申请，是过去一年来，建屋发展局在榜鹅推出的四个预购项目中，申购率最高的项目。
鉴于反应踊跃，建屋局打算本月在榜鹅推出另一个预购组屋项目。根据建屋局网站的数据，截至昨天傍晚5时，Punggol Residences的769个优质单位共收到5215份申请。申请昨天午夜截止。
Punggol Residences的五房式单位最受欢迎，平均每个单位约有10人申购。（建屋局照片）
其中，五房式单位的申购情况最为热烈，154个单位有1606人申请，平均每个单位有10.4人申购。四房式的反应也不俗，615个单位有3609人申请，平均每个单位5.9人抢购。
组屋单位面积从91平方米到114平方米不等，四房式组屋的售价介于26万4000元至32万2000元，五房式则介于34万4000元至40万9000元。
建屋局发言人昨天受询时说，这批预购组屋的申购反应良好，显示买家觉得此项目物有所值。
发言人指出，建屋局将不断在榜鹅新镇推出新的组屋项目，进一步朝实现“优质榜鹅21”的愿景迈进。
纵观榜鹅过去的另三个预购项目，申购率一直徘徊在每个单位平均两三人申请。
于今年3月推出的The Nautilus @ Punggol的519个四房式和五房式单位，共获得1400多份申请，平均每个单位有2.7人申购。去年12月推出的Punggol Regalia729个单位有至少2000人申请，平均每个单位收到2.8份申请。Punggol Arcadia的750个单位则有2300多人抢购，平均每个单位有3.1人申请。
对于Punggol Residences颇高的申购率，受访房地产分析员并不感到意外。
博纳集团总裁伊斯迈受访时说，榜鹅一带转售组屋的平均溢价（cash-over-valuation，简称COV）过去几个月开始增加，已突破1万元大关，现在的平均溢价为1万5000元，导致转售组屋失去吸引力。
伊斯迈说：“务实的买家宁可购买新的预购组屋，因为他们无需支付任何溢价。”
他也指出，尽管经济不景气，这个项目仍可吸引这么多申购者，恰恰反映了组屋市场仍有需求。
Dennis Wee房地产经纪行董事许家荣同意说：“其实，经济情况越糟，人们越想购买政府组屋，因此预购组屋的需求往往保持强劲。”
许家荣解释说，这批新组屋价格合理，况且屋主购买新组屋时，还能享有高达四万元的额外公积金购屋津贴，节省买屋费用。
此外，与几个月前推出的The Nautilus@Punggol项目比较，Punggol Residences的地点更为适中，所建造的也是设计较出众的优质组屋，所以获得更多公众青睐。
Punggol Residences将建在榜鹅径（Punggol Walk）和榜鹅域（Punggol Field）交界处，估计在2013年第一季完工。
建屋局今年已推出了约2800个预购组屋，而由于需求强劲，它打算把供应量增至8000个或以上。
虽然大部分新组屋将位于榜鹅新镇，但它也正在观察其他新镇的组屋需求，若有需要，它将在这些地方推出新的预购组屋项目。
国家发展部长马宝山上月底谈及组屋市场时说，要是四房式和五房式组屋有需求，政府下来或许会推出更多这类单位。
尽管经济前景不明朗，榜鹅预购组屋（BTO）项目Punggol Residences的申购反应非常热烈，每个单位平均有7人申请，是过去一年来，建屋发展局在榜鹅推出的四个预购项目中，申购率最高的项目。
鉴于反应踊跃，建屋局打算本月在榜鹅推出另一个预购组屋项目。根据建屋局网站的数据，截至昨天傍晚5时，Punggol Residences的769个优质单位共收到5215份申请。申请昨天午夜截止。
Punggol Residences的五房式单位最受欢迎，平均每个单位约有10人申购。（建屋局照片） 其中，五房式单位的申购情况最为热烈，154个单位有1606人申请，平均每个单位有10.4人申购。四房式的反应也不俗，615个单位有3609人申请，平均每个单位5.9人抢购。
组屋单位面积从91平方米到114平方米不等，四房式组屋的售价介于26万4000元至32万2000元，五房式则介于34万4000元至40万9000元。
建屋局发言人昨天受询时说，这批预购组屋的申购反应良好，显示买家觉得此项目物有所值。
发言人指出，建屋局将不断在榜鹅新镇推出新的组屋项目，进一步朝实现“优质榜鹅21”的愿景迈进。
纵观榜鹅过去的另三个预购项目，申购率一直徘徊在每个单位平均两三人申请。
于今年3月推出的The Nautilus @ Punggol的519个四房式和五房式单位，共获得1400多份申请，平均每个单位有2.7人申购。去年12月推出的Punggol Regalia729个单位有至少2000人申请，平均每个单位收到2.8份申请。Punggol Arcadia的750个单位则有2300多人抢购，平均每个单位有3.1人申请。
对于Punggol Residences颇高的申购率，受访房地产分析员并不感到意外。
博纳集团总裁伊斯迈受访时说，榜鹅一带转售组屋的平均溢价（cash-over-valuation，简称COV）过去几个月开始增加，已突破1万元大关，现在的平均溢价为1万5000元，导致转售组屋失去吸引力。
伊斯迈说：“务实的买家宁可购买新的预购组屋，因为他们无需支付任何溢价。”
他也指出，尽管经济不景气，这个项目仍可吸引这么多申购者，恰恰反映了组屋市场仍有需求。
Dennis Wee房地产经纪行董事许家荣同意说：“其实，经济情况越糟，人们越想购买政府组屋，因此预购组屋的需求往往保持强劲。”
许家荣解释说，这批新组屋价格合理，况且屋主购买新组屋时，还能享有高达四万元的额外公积金购屋津贴，节省买屋费用。
此外，与几个月前推出的The Nautilus@Punggol项目比较，Punggol Residences的地点更为适中，所建造的也是设计较出众的优质组屋，所以获得更多公众青睐。
Punggol Residences将建在榜鹅径（Punggol Walk）和榜鹅域（Punggol Field）交界处，估计在2013年第一季完工。
建屋局今年已推出了约2800个预购组屋，而由于需求强劲，它打算把供应量增至8000个或以上。
虽然大部分新组屋将位于榜鹅新镇，但它也正在观察其他新镇的组屋需求，若有需要，它将在这些地方推出新的预购组屋项目。
国家发展部长马宝山上月底谈及组屋市场时说，要是四房式和五房式组屋有需求，政府下来或许会推出更多这类单位。
Strong Demand For HDB's Build-To-Order Punggol Flats
Source : The Straits Times, Aug 13, 2009
APPLICATIONS for the build-to-order (BTO) Punggol Residences flats have been flooding into the Housing Board (HDB).
As at 5pm on Wednesday, the HDB had received 5,215 applications for the 769 flats on offer at the Punggol site.
This works out to a subscription rate of 6.7 times for the development, which comprises 615 four-room and 154 five-room flats. There were 3,609 applications for the four-room flats and 1,606 applications for the five-room units.
The deadline for applications is midnight on Aug 12.
Punggol Residences, situated at the junction of Punggol Walk and Punggol Field, is located within the precincts of the future Punggol Town Centre.
It is a five-minute walk from the Punggol MRT station and the bus interchange, while the Tampines Expressway is a short drive away.
The prices range from $264,000 to $322,000 for the four-room units and $344,000 to $409,000 for the five-room flats.
The prices are comparable to those at Punggol Regalia, a similar premium BTO project next to Punggol Residences, which was launched in December last year.
To date, the HDB has launched about 2,800 flats under the BTO system and, given the strong level of demand, is committed to stepping up its supply to 8,000 or more units. It is set to unveil another BTO project for Punggol later this month.
'The consistently high subscription rates for the BTO projects in Punggol Town are testament that the town has become a much sought-after place to live in,' the HDB spokesman said.
The HDB believes the launch of new BTO projects in Punggol will further contribute towards realising the 'Punggol 21-Plus' vision of a waterfront town for the 21st century.
APPLICATIONS for the build-to-order (BTO) Punggol Residences flats have been flooding into the Housing Board (HDB).
As at 5pm on Wednesday, the HDB had received 5,215 applications for the 769 flats on offer at the Punggol site.
This works out to a subscription rate of 6.7 times for the development, which comprises 615 four-room and 154 five-room flats. There were 3,609 applications for the four-room flats and 1,606 applications for the five-room units.
The deadline for applications is midnight on Aug 12.
Punggol Residences, situated at the junction of Punggol Walk and Punggol Field, is located within the precincts of the future Punggol Town Centre.
It is a five-minute walk from the Punggol MRT station and the bus interchange, while the Tampines Expressway is a short drive away.
The prices range from $264,000 to $322,000 for the four-room units and $344,000 to $409,000 for the five-room flats.
The prices are comparable to those at Punggol Regalia, a similar premium BTO project next to Punggol Residences, which was launched in December last year.
To date, the HDB has launched about 2,800 flats under the BTO system and, given the strong level of demand, is committed to stepping up its supply to 8,000 or more units. It is set to unveil another BTO project for Punggol later this month.
'The consistently high subscription rates for the BTO projects in Punggol Town are testament that the town has become a much sought-after place to live in,' the HDB spokesman said.
The HDB believes the launch of new BTO projects in Punggol will further contribute towards realising the 'Punggol 21-Plus' vision of a waterfront town for the 21st century.
Saturday, August 1, 2009
HDB Launches 769 New Flats In Punggol
Source : The Straits Times, July 31 2009
Premium development includes 154 five-room flats, 615 four-roomers.
THE Housing Board has launched a premium project offering 769 new flats in Punggol in a bid to build up critical mass in the estate.
The new project, called Punggol Residences, offers 615 four-roomers and 154 five-room flats in a central location just five minutes from Punggol MRT station.
HDB is launching the project under its build-to-order (BTO) scheme - flats are built only when certain demand is reached.
It has so far offered about 6,500 new flats in Punggol since it unveiled grand plans for the former fishing village to become the only waterfront public housing project in August 2007.
This is in line with the board's commitment to build up the population in the estate to attract and support new facilities, it said.
Punggol Residences is a premium development with enhanced architectural designs, interior fittings and landscaping, said HDB.
HDB is launching the project under its Build-To-Order (BTO) scheme. --PHOTO: HDB
Four-room flats of 91 to 96 sq m are going for $264,000 to $322,000, while five-roomers of 114 sq m are on sale from $344,000 to $409,000.
According to HDB, premium resale flats in the vicinity are selling for a pricier $330,000 to $350,000 for four-roomers and $380,000 to $439,888 for five-roomers.
PropNex chief executive Mohamed Ismail said that, despite the higher prices, resale flats might still be more attractive given that buyers can enjoy a CPF housing grant of up to $80,000 depending on their income, and do not have to wait three years for new flats to be built.
On the other hand, buying new flats direct from HDB will attract those who prefer not to fork out any cash for resale flats.
This amount, known as cash-over-valuation, has started creeping up for premium resale flats in Punggol to about $15,000 to $20,000, noted Mr Ismail.
As of 5pm yesterday - the latest update from HDB - 593 applications for the 769 flats have been received.
Applications for the new flats can be submitted online at HDB's website www.hdb.gov.sg until Aug 12.
Premium development includes 154 five-room flats, 615 four-roomers.
THE Housing Board has launched a premium project offering 769 new flats in Punggol in a bid to build up critical mass in the estate.
The new project, called Punggol Residences, offers 615 four-roomers and 154 five-room flats in a central location just five minutes from Punggol MRT station.
HDB is launching the project under its build-to-order (BTO) scheme - flats are built only when certain demand is reached.It has so far offered about 6,500 new flats in Punggol since it unveiled grand plans for the former fishing village to become the only waterfront public housing project in August 2007.
This is in line with the board's commitment to build up the population in the estate to attract and support new facilities, it said.
Punggol Residences is a premium development with enhanced architectural designs, interior fittings and landscaping, said HDB.
HDB is launching the project under its Build-To-Order (BTO) scheme. --PHOTO: HDBFour-room flats of 91 to 96 sq m are going for $264,000 to $322,000, while five-roomers of 114 sq m are on sale from $344,000 to $409,000.
According to HDB, premium resale flats in the vicinity are selling for a pricier $330,000 to $350,000 for four-roomers and $380,000 to $439,888 for five-roomers.
PropNex chief executive Mohamed Ismail said that, despite the higher prices, resale flats might still be more attractive given that buyers can enjoy a CPF housing grant of up to $80,000 depending on their income, and do not have to wait three years for new flats to be built.
On the other hand, buying new flats direct from HDB will attract those who prefer not to fork out any cash for resale flats.
This amount, known as cash-over-valuation, has started creeping up for premium resale flats in Punggol to about $15,000 to $20,000, noted Mr Ismail.
As of 5pm yesterday - the latest update from HDB - 593 applications for the 769 flats have been received.
Applications for the new flats can be submitted online at HDB's website www.hdb.gov.sg until Aug 12.
榜鹅将建769预购组屋单位
Source : 《联合早报》July 31, 2009
四房式组屋在经济不景之际仍是最受欢迎的屋型，建屋发展局在榜鹅推出769个预购组屋单位，其中约八成是四房式单位。
这个组屋项目靠近未来的榜鹅镇中心，距离榜鹅地铁站和轻轨站约5分钟距离，估计会引起买家兴趣。
昨天是组屋接受申请的第一天，截至傍晚5时，769个单位已获得593份申请。
名为Punggol Residences的这个组屋项目，有769个单位，面积从91平方米到114平方米不等。
名为Punggol Residences的组屋项目，位于榜鹅径（Punggol Walk）和榜鹅域（Punggol Field）交界处，共建造615个四房式和154个五房式单位，估计在2013年第一季完工。
组屋单位面积从91平方米到114平方米不等，四房式组屋的售价介于26万4000元至32万2000元，五房式介于34万4000元至40万9000元。
建屋局说，组屋售价比同区转售组屋来得低，也仍维持在国人可负担的水平。
要是月入4100元的中等收入家庭购买一个29万5000元的四房式组屋，每月约1063元的房屋贷款，完全可从公积金户头扣除。
比同区预购价更高
然而，与今年3月推出的The Nautilus@Punggol预购组屋项目比较，这批新组屋的价格较高，因为它的地点更为适中，所建造的也是设计较出众的优质组屋。
HSR房产经纪公司执行董事郑来明说，Punggol Residences靠近地铁站，对买家有一定吸引力。况且，买家也无需为新组屋支付溢价（cash-over-valuation，简称COV），进一步提高它们的吸引力。
“虽然溢价数额已下跌，不过靠近地铁站的组屋，现在还是得支付不少溢价。”
OrangeTee执行董事陈道俊相信，这个新组屋项目的需求会相当强劲，因为它距离榜鹅人工水道不会太远。
“政府之前已宣布榜鹅的新发展计划，加上这批组屋的地点适中，相信公众的反应会不错。”
他说，榜鹅是个仍在发展的新镇，组屋售价比成熟组屋区来得低，但增值空间不能忽视。
榜鹅人工水道估计在2010年或2011年完工，部分水道会穿越濒水镇中心，不过这个新组屋是否会享有水道景观还不知晓。
国家发展部长马宝山前天谈及组屋市场时说，要是四房式和五房式组屋有需求，政府下来或许会推出更多这类单位。
公众可通过建屋局网站www.hdb.gov.sg提出新组屋申请，并可到大巴窑建屋局中心3楼展示厅参观及索取销售资料，展示厅平日开放时间是上午8时至下午5时，星期六是上午8时至下午1时。
公众也可上建屋局网站，或电邮hdbsales@hdb.gov.sg，或办公时间拨1800-8663066询问。截止日期是8月12日。
四房式组屋在经济不景之际仍是最受欢迎的屋型，建屋发展局在榜鹅推出769个预购组屋单位，其中约八成是四房式单位。
这个组屋项目靠近未来的榜鹅镇中心，距离榜鹅地铁站和轻轨站约5分钟距离，估计会引起买家兴趣。
昨天是组屋接受申请的第一天，截至傍晚5时，769个单位已获得593份申请。
名为Punggol Residences的这个组屋项目，有769个单位，面积从91平方米到114平方米不等。名为Punggol Residences的组屋项目，位于榜鹅径（Punggol Walk）和榜鹅域（Punggol Field）交界处，共建造615个四房式和154个五房式单位，估计在2013年第一季完工。
组屋单位面积从91平方米到114平方米不等，四房式组屋的售价介于26万4000元至32万2000元，五房式介于34万4000元至40万9000元。
建屋局说，组屋售价比同区转售组屋来得低，也仍维持在国人可负担的水平。
要是月入4100元的中等收入家庭购买一个29万5000元的四房式组屋，每月约1063元的房屋贷款，完全可从公积金户头扣除。
比同区预购价更高
然而，与今年3月推出的The Nautilus@Punggol预购组屋项目比较，这批新组屋的价格较高，因为它的地点更为适中，所建造的也是设计较出众的优质组屋。
HSR房产经纪公司执行董事郑来明说，Punggol Residences靠近地铁站，对买家有一定吸引力。况且，买家也无需为新组屋支付溢价（cash-over-valuation，简称COV），进一步提高它们的吸引力。
“虽然溢价数额已下跌，不过靠近地铁站的组屋，现在还是得支付不少溢价。”
OrangeTee执行董事陈道俊相信，这个新组屋项目的需求会相当强劲，因为它距离榜鹅人工水道不会太远。
“政府之前已宣布榜鹅的新发展计划，加上这批组屋的地点适中，相信公众的反应会不错。”
他说，榜鹅是个仍在发展的新镇，组屋售价比成熟组屋区来得低，但增值空间不能忽视。
榜鹅人工水道估计在2010年或2011年完工，部分水道会穿越濒水镇中心，不过这个新组屋是否会享有水道景观还不知晓。
国家发展部长马宝山前天谈及组屋市场时说，要是四房式和五房式组屋有需求，政府下来或许会推出更多这类单位。
公众可通过建屋局网站www.hdb.gov.sg提出新组屋申请，并可到大巴窑建屋局中心3楼展示厅参观及索取销售资料，展示厅平日开放时间是上午8时至下午5时，星期六是上午8时至下午1时。
公众也可上建屋局网站，或电邮hdbsales@hdb.gov.sg，或办公时间拨1800-8663066询问。截止日期是8月12日。
Sunday, July 26, 2009
HDB Prices Up 1.4 Per Cent
Source : The Business Times, July 25, 2009
Decline in upfront cash required makes resale flats more affordable
PRICES of Housing Board flats rose 1.4 per cent in the second quarter to a record high, reversing a first-quarter dip of 0.8 per cent.
The number of transactions also soared - up 58 per cent in the three months to June 30 - as confidence grew and buyers rushed back into the market.
One reason for the HDB market's resilience amid testing economic times is the decline in the amount of cash required upfront to buy a resale flat. This amount is called cash-over-valuation (COV) and is falling or at least stable across all flat types.
Fresh figures released by HDB yesterday showed that the median COV for all flat types fell to just $3,000 in the second quarter compared with $4,000 in the first quarter. The median COV is at a relatively low $5,000 for three- and four-roomers and stayed at zero for five-room and executive flats, for both the first and second quarter.
Median COV for two-roomers declined from $7,000 in the first quarter to $6,000 in the second.
This is a marked change from the 2007 property boom, when median COV hit $22,000 in the fourth quarter, pricing many first-time buyers out of the resale market.
COV has come down due to valuations of resale flats catching up, said ERA Asia Pacific associate director Eugene Lim.
So even though values of HDB resale flats are high, they have become more affordable as buyers can get bank loans for the purchase and do not have to fork out high amounts of cash.
Sales activity was robust in the quarter with transactions up to 10,184 compared with 6,446 in the first quarter. They were also up 31 per cent from the 7,763 units sold in the same period last year.
Sales of five-roomers rose 80 per cent - 2,713 were moved - over the first quarter while executive flat transactions surged 100 per cent to 753. Four-room flat sales climbed from 2,488 to 3,787.
PropNex chief executive Mohamed Ismail noted that sales of the bigger flat types had suffered in the three quarters up to the end of March amid growing concerns about Singapore's worst recession.
'These numbers are a clear sign that people's market confidence is growing,' he said, adding that feedback on the ground indicated that demand in mature estates far exceeds supply.
The sales of larger flat types also explain the strong demand from HDB upgraders who sold their flats to buy private homes, said property veteran Nicholas Mak.
Private home sales, especially in mass-market suburban condos, have enjoyed brisk sales since February.
Meanwhile, HDB rents were stable. Median rents for two-room and five-room flats for the second quarter were unchanged but fell by $100 for three-room, four-room and executive flats.
HDB plans to launch a further 6,000 units under its build-to-order scheme over the next six months. About 2,400 will be three-room and smaller flats. The bulk of new flat supply will be in Punggol. So far, HDB has launched about 2,000 new flats in Punggol, Sengkang and Woodlands this year.
Analysts predict that HDB flat prices will enjoy modest increases as confidence continues to grow.
But the falling COV for large flats could indicate limited upside for prices of these flat types, said Mr Mak. 'This could also limit the HDB upgraders' demand for private property in the short term,' he said.
Decline in upfront cash required makes resale flats more affordable
PRICES of Housing Board flats rose 1.4 per cent in the second quarter to a record high, reversing a first-quarter dip of 0.8 per cent.
The number of transactions also soared - up 58 per cent in the three months to June 30 - as confidence grew and buyers rushed back into the market.
One reason for the HDB market's resilience amid testing economic times is the decline in the amount of cash required upfront to buy a resale flat. This amount is called cash-over-valuation (COV) and is falling or at least stable across all flat types.
Fresh figures released by HDB yesterday showed that the median COV for all flat types fell to just $3,000 in the second quarter compared with $4,000 in the first quarter. The median COV is at a relatively low $5,000 for three- and four-roomers and stayed at zero for five-room and executive flats, for both the first and second quarter.
Median COV for two-roomers declined from $7,000 in the first quarter to $6,000 in the second.
This is a marked change from the 2007 property boom, when median COV hit $22,000 in the fourth quarter, pricing many first-time buyers out of the resale market.
COV has come down due to valuations of resale flats catching up, said ERA Asia Pacific associate director Eugene Lim.
So even though values of HDB resale flats are high, they have become more affordable as buyers can get bank loans for the purchase and do not have to fork out high amounts of cash.
Sales activity was robust in the quarter with transactions up to 10,184 compared with 6,446 in the first quarter. They were also up 31 per cent from the 7,763 units sold in the same period last year.
Sales of five-roomers rose 80 per cent - 2,713 were moved - over the first quarter while executive flat transactions surged 100 per cent to 753. Four-room flat sales climbed from 2,488 to 3,787.
PropNex chief executive Mohamed Ismail noted that sales of the bigger flat types had suffered in the three quarters up to the end of March amid growing concerns about Singapore's worst recession.
'These numbers are a clear sign that people's market confidence is growing,' he said, adding that feedback on the ground indicated that demand in mature estates far exceeds supply.
The sales of larger flat types also explain the strong demand from HDB upgraders who sold their flats to buy private homes, said property veteran Nicholas Mak.
Private home sales, especially in mass-market suburban condos, have enjoyed brisk sales since February.
Meanwhile, HDB rents were stable. Median rents for two-room and five-room flats for the second quarter were unchanged but fell by $100 for three-room, four-room and executive flats.
HDB plans to launch a further 6,000 units under its build-to-order scheme over the next six months. About 2,400 will be three-room and smaller flats. The bulk of new flat supply will be in Punggol. So far, HDB has launched about 2,000 new flats in Punggol, Sengkang and Woodlands this year.
Analysts predict that HDB flat prices will enjoy modest increases as confidence continues to grow.
But the falling COV for large flats could indicate limited upside for prices of these flat types, said Mr Mak. 'This could also limit the HDB upgraders' demand for private property in the short term,' he said.
HDB Resale Flat Prices Surge To Record High
Source : The Business Times, July 25, 2009
Some industry watchers are predicting further upside for the year
THE HDB resale market seems to be chugging along nicely despite the recession. Soaring demand for resale flats sent prices to a record high in the second quarter, and some industry watchers are predicting further upside for the year.
APPRECIATING BLOCKS - Upgrading activity aside, the inflow of permanent residents, many from China and India, also contributed to demand for resale flats
Data from the Housing and Development Board yesterday showed the resale price index rising 1.4 per cent from the previous quarter to 140.2 in Q2. This is the highest level seen since 1990.
The increase surpassed HDB's flash estimate of a 1.2 per cent rise. It also reversed a 0.8 per cent fall in Q1 - the first slide after nine straight quarters of growth. The price dip in Q1 now seems like a 'statistical blip', said property consultant Nicholas Mak.
Executive flats saw the biggest percentage rise in median resale prices, up 2.2 per cent from a quarter ago to $455,000.
Strong interest in resale flats helped sustain the market. Buyers and sellers filed 10,184 resale applications in Q2 - swelling 58 per cent from Q1 and 31 per cent from a year ago. According to HDB, the quarterly resale registration volume last crossed the 10,000-mark more than four years ago - it was 11,562 in Q4, 2004.
Most of the 10,184 applications in Q2 were for four-room flats, followed by three-roomers and then five-roomers.
However, applications for executive flats showed the greatest increase, doubling from a quarter ago to 753 in Q2. Those for five-room flats also jumped 80 per cent to 2,713. The sharp surge in resale activity involving larger flats suggests that there were more owners who sold their flats to buy private homes, said Mr Mak.
Market analysts have flagged HDB upgraders as a significant group of buyers who revived the private property market. Many went for units in mass-market projects such as Mi Casa and Double Bay Residences.
C&H Realty managing director Albert Lu pointed out that owners of smaller flats are also moving to larger flats. Prices of five-room and executive flats have languished in the last few quarters, making the move more attractive, he said.
Upgrading activity aside, the inflow of permanent residents (PRs) also contributed to demand for resale flats. HSR Property Group chief operating officer Dennis Yong observed that his firm has up to 10 per cent more resale transactions involving PRs in the last few months, and many of them are from China and India.
Buyers remained unwilling to pay high premiums for HDB flats. The median cash-over-valuation (COV) was $3,000 across all flat types in Q2, down slightly from $4,000 in Q1. Notably, most five-room and executive flats were still unable to command any COV.
In a way, the low COV sustained demand for HDB resale flats, said PropNex CEO Mohamed Ismail. 'As the demand is strengthening quickly, sellers are expected to demand a higher COV.' Mr Ismail expects the resale price index to gain around 3 per cent to 145 points by the end of the year. C&H Realty's Mr Lu also projects a 2-3 per cent increase in resale prices.
Just a few months ago, property consultants had feared that HDB resale prices would drop as much as 10 per cent for the whole year. Signs of a stabilising economy and improved sentiment in the property market seem to have soothed nerves.
Statistics from the Urban Redevelopment Authority yesterday also painted a more calming picture. While prices in the residential, commercial and industrial sectors still fell in Q2, the declines were smaller than a quarter ago.
Some industry watchers are predicting further upside for the year
THE HDB resale market seems to be chugging along nicely despite the recession. Soaring demand for resale flats sent prices to a record high in the second quarter, and some industry watchers are predicting further upside for the year.
APPRECIATING BLOCKS - Upgrading activity aside, the inflow of permanent residents, many from China and India, also contributed to demand for resale flatsData from the Housing and Development Board yesterday showed the resale price index rising 1.4 per cent from the previous quarter to 140.2 in Q2. This is the highest level seen since 1990.
The increase surpassed HDB's flash estimate of a 1.2 per cent rise. It also reversed a 0.8 per cent fall in Q1 - the first slide after nine straight quarters of growth. The price dip in Q1 now seems like a 'statistical blip', said property consultant Nicholas Mak.
Executive flats saw the biggest percentage rise in median resale prices, up 2.2 per cent from a quarter ago to $455,000.
Strong interest in resale flats helped sustain the market. Buyers and sellers filed 10,184 resale applications in Q2 - swelling 58 per cent from Q1 and 31 per cent from a year ago. According to HDB, the quarterly resale registration volume last crossed the 10,000-mark more than four years ago - it was 11,562 in Q4, 2004.Most of the 10,184 applications in Q2 were for four-room flats, followed by three-roomers and then five-roomers.
However, applications for executive flats showed the greatest increase, doubling from a quarter ago to 753 in Q2. Those for five-room flats also jumped 80 per cent to 2,713. The sharp surge in resale activity involving larger flats suggests that there were more owners who sold their flats to buy private homes, said Mr Mak.
Market analysts have flagged HDB upgraders as a significant group of buyers who revived the private property market. Many went for units in mass-market projects such as Mi Casa and Double Bay Residences.
C&H Realty managing director Albert Lu pointed out that owners of smaller flats are also moving to larger flats. Prices of five-room and executive flats have languished in the last few quarters, making the move more attractive, he said.
Upgrading activity aside, the inflow of permanent residents (PRs) also contributed to demand for resale flats. HSR Property Group chief operating officer Dennis Yong observed that his firm has up to 10 per cent more resale transactions involving PRs in the last few months, and many of them are from China and India.
Buyers remained unwilling to pay high premiums for HDB flats. The median cash-over-valuation (COV) was $3,000 across all flat types in Q2, down slightly from $4,000 in Q1. Notably, most five-room and executive flats were still unable to command any COV.
In a way, the low COV sustained demand for HDB resale flats, said PropNex CEO Mohamed Ismail. 'As the demand is strengthening quickly, sellers are expected to demand a higher COV.' Mr Ismail expects the resale price index to gain around 3 per cent to 145 points by the end of the year. C&H Realty's Mr Lu also projects a 2-3 per cent increase in resale prices.
Just a few months ago, property consultants had feared that HDB resale prices would drop as much as 10 per cent for the whole year. Signs of a stabilising economy and improved sentiment in the property market seem to have soothed nerves.
Statistics from the Urban Redevelopment Authority yesterday also painted a more calming picture. While prices in the residential, commercial and industrial sectors still fell in Q2, the declines were smaller than a quarter ago.
Slower Sales For HDB's Condo-Style Projects
Source : The Straits Times, July 26, 2009
Renewed interest in property more focused on private, HDB resale sectors.
THE numbers show it: Singapore has been gripped by a buying frenzy that seems to have pervaded every segment of the property market.
Sales volume for HDB resale flats has surged 58 per cent in the second quarter, and private home sales have even spread from the mass market to the upper-mid-tier segment.
Parc Lumiere, a DBSS project, sold well because most of the units were priced below the $500,000 psychological barrier, said a market player. -- PHOTO: SIM LIAN GROUP.
But while sales have been brisk at condos, the pace has been somewhat slower in the HDB hybrid condo-style flat sector, also called Design, Build and Sell Scheme (DBSS) projects.
These condo-style HDB flats have better finishes and facilities, and are built by private developers.
A survey by The Sunday Times shows that sales at three centrally located DBSS projects - The Peak@Toa Payoh, Park Central at Ang Mo Kio and Natura Loft at Bishan - do not seem to have moved as briskly compared to the pace seen in the HDB resale market and for private mass market homes, where projects such as 8@Woodleigh in Potong Pasir were fully sold out in a short timeframe.
Sales are hovering at the 70 per cent to 75 per cent level, despite the fact that buyers no longer have to ballot and can buy a flat via walk-in selection.
Analysts note that 70 per cent is a decent level of sales but point to a number of reasons these DBSS flats have not performed as well as their peers - the exception being Parc Lumiere at Simei, which has sold 93 per cent of its 360 flats since its April launch.
Firstly, the target audience - HDB home buyers - are highly price-sensitive. Prices for bigger flats - hitting the upper range of $600,000 and just over $700,000 each - are out of reach for many buyers, say analysts.
This is why Parc Lumiere was a sell-out, said PropNex chief executive Mohamed Ismail, although its location was less central. 'Most of the flats were priced below the $500,000 psychological barrier.'
Also, the only flat types left are five-roomers, which may be too big for young couples buying their first property.
Secondly, new private projects have been attractively priced by developers during recent launches, narrowing the price gap between DBSS flats and private condos.
'Home buyers will prefer to buy private property, especially if compared to the higher-range DBSS flats which cost up to $730,000,' said Mr Ismail.
Furthermore, DBSS flats are subject to HDB rules such as the $8,000 household income ceiling, ethnic quota and a five-year minimum occupation period.
With this income ceiling, apartments priced above $700,000 will be a stretch for first-timers, said property veteran Nicholas Mak, former head of research at Knight Frank.
Amid the recession, such buyers are also more conservative and are unlikely to commit to pricey homes, he said.
Such DBSS projects, however, will start to see renewed interest if and when private property prices start to creep up, say market watchers.
'When this happens, there will be a distinct price jump between DBSS properties and private condos,' said ERA Asia Pacific associate director Eugene Lim.
Then, such HDB condo-style flats will appeal to those who cannot afford private property but find the main supply of HDB flats too basic, added Mr Ismail.
This is already starting to happen, according to DBSS developers.
A spokesman for United Engineers, which is developing Park Central, said that with the recent property market warming up, 'there has been an increase in sales queries and appointments at our sales office, especially in the months of June and July'.
All DBSS developers have so far held on to their prices despite the recession.
Meanwhile, other developers such as QingJian Realty, which built Natura Loft, are pulling in buyers in innovative ways such as holding lucky draws in which home buyers stand to win cars.
As to whether DBSS buyers can make a profit from resale demand in the future - after the five-year occupation period - this will depend on how high prices are in the private mass market at that time, added ERA's Mr Lim.
Renewed interest in property more focused on private, HDB resale sectors.
THE numbers show it: Singapore has been gripped by a buying frenzy that seems to have pervaded every segment of the property market.
Sales volume for HDB resale flats has surged 58 per cent in the second quarter, and private home sales have even spread from the mass market to the upper-mid-tier segment.
Parc Lumiere, a DBSS project, sold well because most of the units were priced below the $500,000 psychological barrier, said a market player. -- PHOTO: SIM LIAN GROUP.But while sales have been brisk at condos, the pace has been somewhat slower in the HDB hybrid condo-style flat sector, also called Design, Build and Sell Scheme (DBSS) projects.
These condo-style HDB flats have better finishes and facilities, and are built by private developers.
A survey by The Sunday Times shows that sales at three centrally located DBSS projects - The Peak@Toa Payoh, Park Central at Ang Mo Kio and Natura Loft at Bishan - do not seem to have moved as briskly compared to the pace seen in the HDB resale market and for private mass market homes, where projects such as 8@Woodleigh in Potong Pasir were fully sold out in a short timeframe.
Sales are hovering at the 70 per cent to 75 per cent level, despite the fact that buyers no longer have to ballot and can buy a flat via walk-in selection.
Analysts note that 70 per cent is a decent level of sales but point to a number of reasons these DBSS flats have not performed as well as their peers - the exception being Parc Lumiere at Simei, which has sold 93 per cent of its 360 flats since its April launch.
Firstly, the target audience - HDB home buyers - are highly price-sensitive. Prices for bigger flats - hitting the upper range of $600,000 and just over $700,000 each - are out of reach for many buyers, say analysts.
This is why Parc Lumiere was a sell-out, said PropNex chief executive Mohamed Ismail, although its location was less central. 'Most of the flats were priced below the $500,000 psychological barrier.'
Also, the only flat types left are five-roomers, which may be too big for young couples buying their first property.
Secondly, new private projects have been attractively priced by developers during recent launches, narrowing the price gap between DBSS flats and private condos.
'Home buyers will prefer to buy private property, especially if compared to the higher-range DBSS flats which cost up to $730,000,' said Mr Ismail.
Furthermore, DBSS flats are subject to HDB rules such as the $8,000 household income ceiling, ethnic quota and a five-year minimum occupation period.
With this income ceiling, apartments priced above $700,000 will be a stretch for first-timers, said property veteran Nicholas Mak, former head of research at Knight Frank.
Amid the recession, such buyers are also more conservative and are unlikely to commit to pricey homes, he said.
Such DBSS projects, however, will start to see renewed interest if and when private property prices start to creep up, say market watchers.
'When this happens, there will be a distinct price jump between DBSS properties and private condos,' said ERA Asia Pacific associate director Eugene Lim.
Then, such HDB condo-style flats will appeal to those who cannot afford private property but find the main supply of HDB flats too basic, added Mr Ismail.
This is already starting to happen, according to DBSS developers.
A spokesman for United Engineers, which is developing Park Central, said that with the recent property market warming up, 'there has been an increase in sales queries and appointments at our sales office, especially in the months of June and July'.
All DBSS developers have so far held on to their prices despite the recession.
Meanwhile, other developers such as QingJian Realty, which built Natura Loft, are pulling in buyers in innovative ways such as holding lucky draws in which home buyers stand to win cars.
As to whether DBSS buyers can make a profit from resale demand in the future - after the five-year occupation period - this will depend on how high prices are in the private mass market at that time, added ERA's Mr Lim.
Saturday, July 25, 2009
组屋转售价迅速回弹 第二季微升1.4%
Source : 《联合早报》July 25, 2009
组屋转售价格只下滑一季便迅速回弹，整体价格在今年第二季微升1.4%，一反私宅价格持续下滑的趋势。
转售交易量 也猛增58%
组屋转售交易量也猛增58%，在过去四年多来首次在一季内突破1万宗交易的关卡。这显示许多买家趁屋价在年初滑落之际，涌入市场购屋。
建屋发展局昨天公布的第二季组屋转售市场数据显示，组屋转售价指数增至140.2点，在经济不景之际创下历史新高，增幅也比本月初预估的1.2%来得高。
组屋转售价在今年第一季下滑0.8%，结束两年多的增长势头。房屋经纪原本估计低迷的经济局势会导致价格继续滑落，不料价格先跌后起，成功收复失地。然而，作为市场温度计的整体转售组屋溢价中位数（median cash-over-valuation）还是继续下滑至3000元，比第一季少了1000元，跌幅为25%。组屋溢价的跌幅已放缓，第一季猛跌超过70%。
需付溢价以完成买卖的交易也减少，从首季的62%减至第二季的57%。其余买家是在组屋估价或以下完成交易。
在今年首季组屋价格下跌以及溢价猛挫的刺激下，组屋转售交易量也激增，从首季的6446宗交易增至1万零184宗。
值得注意的是，各类组屋的转售交易量一律增加，大型组屋也不例外，显示需求已不受经济不景冲击。共有2713间五房式组屋在第二季易手，比上一季多80%。完成买卖的公寓式组屋也倍增，从今年首季的372间增至753间。
博纳集团（PropNex）总裁伊斯迈说，组屋溢价目前处于两年多来的最低水平，意味买家无须支付额外现金给屋主，有助于刺激需求，带动买气。
以大型组屋来说，五房式和公寓式组屋的溢价中位数是零，可吸引有意提升的买家进场。
去年初，当组屋溢价动辙要两三万元的时候，一些无法拿出大笔现金的潜在买家被拒于市场外，转售交易量也因此减少。
不过，HSR房产经纪公司执行董事郑来明指出，虽然组屋溢价已减少，这不意味组屋价格比去年低，因为估价可能已增加，以致组屋价格可能与去年的不相上下。
“市场对组屋的需求一向强劲，除了要组织家庭的年轻夫妇及提升屋型者外，许多永久居民也会购买组屋作栖身之所。”
组屋估价是根据出售组屋的地点、屋龄、面积、设计和同地区转售组屋的售价进行比较后所得出的价格。组屋溢价指的是估价以外的现金数额。
在OrangeTee执行董事陈道俊看来，尽管组屋转售价在经济低迷之际创下新高，这其实并不稀奇，因为不少人可能认为最坏的情况已经过去。
他说，当许多人认为经济复苏曙光已出现时，便不会再对房地产市场却步。“买家过去多持有观望态度，现在则更愿意进场，因为他们担心价格日后会上涨得更多。”
房屋经纪认为，按目前走势，转售价将在未来半年保持平稳，季度价格增幅估计不超过2%。
新组屋方面，建屋局打算在今年下半年推出6000间预购组屋，超过三分之一是三房式或更小组屋。大部分新组屋将位于榜鹅新镇。
组屋转售价格只下滑一季便迅速回弹，整体价格在今年第二季微升1.4%，一反私宅价格持续下滑的趋势。
转售交易量 也猛增58%
组屋转售交易量也猛增58%，在过去四年多来首次在一季内突破1万宗交易的关卡。这显示许多买家趁屋价在年初滑落之际，涌入市场购屋。
建屋发展局昨天公布的第二季组屋转售市场数据显示，组屋转售价指数增至140.2点，在经济不景之际创下历史新高，增幅也比本月初预估的1.2%来得高。
组屋转售价在今年第一季下滑0.8%，结束两年多的增长势头。房屋经纪原本估计低迷的经济局势会导致价格继续滑落，不料价格先跌后起，成功收复失地。然而，作为市场温度计的整体转售组屋溢价中位数（median cash-over-valuation）还是继续下滑至3000元，比第一季少了1000元，跌幅为25%。组屋溢价的跌幅已放缓，第一季猛跌超过70%。
需付溢价以完成买卖的交易也减少，从首季的62%减至第二季的57%。其余买家是在组屋估价或以下完成交易。
在今年首季组屋价格下跌以及溢价猛挫的刺激下，组屋转售交易量也激增，从首季的6446宗交易增至1万零184宗。
值得注意的是，各类组屋的转售交易量一律增加，大型组屋也不例外，显示需求已不受经济不景冲击。共有2713间五房式组屋在第二季易手，比上一季多80%。完成买卖的公寓式组屋也倍增，从今年首季的372间增至753间。
博纳集团（PropNex）总裁伊斯迈说，组屋溢价目前处于两年多来的最低水平，意味买家无须支付额外现金给屋主，有助于刺激需求，带动买气。
以大型组屋来说，五房式和公寓式组屋的溢价中位数是零，可吸引有意提升的买家进场。
去年初，当组屋溢价动辙要两三万元的时候，一些无法拿出大笔现金的潜在买家被拒于市场外，转售交易量也因此减少。
不过，HSR房产经纪公司执行董事郑来明指出，虽然组屋溢价已减少，这不意味组屋价格比去年低，因为估价可能已增加，以致组屋价格可能与去年的不相上下。
“市场对组屋的需求一向强劲，除了要组织家庭的年轻夫妇及提升屋型者外，许多永久居民也会购买组屋作栖身之所。”
组屋估价是根据出售组屋的地点、屋龄、面积、设计和同地区转售组屋的售价进行比较后所得出的价格。组屋溢价指的是估价以外的现金数额。
在OrangeTee执行董事陈道俊看来，尽管组屋转售价在经济低迷之际创下新高，这其实并不稀奇，因为不少人可能认为最坏的情况已经过去。
他说，当许多人认为经济复苏曙光已出现时，便不会再对房地产市场却步。“买家过去多持有观望态度，现在则更愿意进场，因为他们担心价格日后会上涨得更多。”
房屋经纪认为，按目前走势，转售价将在未来半年保持平稳，季度价格增幅估计不超过2%。
新组屋方面，建屋局打算在今年下半年推出6000间预购组屋，超过三分之一是三房式或更小组屋。大部分新组屋将位于榜鹅新镇。
Resale Prices Of HDB Homes Up 1.4% In Q2
Source : 938live.sg , 24th July 2009
The resale prices of HDB flats rose by 1.4 percent in the second quarter of 2009.
This comes after a slight drop of 0.8 percent in the three months ending March.
The jump in the second quarter was higher than an initial estimate of a 1.2 per cent increase made earlier this month.
Resale transactions also rose, jumping from 6,400 cases in the first quarter, to 10,000 cases in the 2nd quarter.
The median cash-over-valuation or COV amount among all resale transactions continued its declining trend.
COV fell to $3,000 in the second quarter, down $1,000 from the 1st quarter.
CEO of real estate firm Propnex, Mohamed Ismail, said the lower COV made resale flats more attractive.
"COV has further declined, and this would have attributed for more buyers looking towards resale rather than the BTO or DBSS. Because either BTO or DBSS will take 3 to 4 years before they can get the keys to their respective houses. And this trend is expected to continue as long as the HDB COV is low, there will be greater demand."
HDB flats which sold above valuation accounted for 57 per cent of all resale transactions in the second quarter, down from 62 percent in the previous quarter.
HDB also announced plans to launch 6,000 new Build-to-Order flats over the next six months, of which some 2,400 units will be 3-room or smaller apartments.
The bulk of the new flats will be in Punggol.
In the HDB rental market, rents for 3-room, 4-room and executive flats fell by $100, but remained the same for 2-room and 5-room units.
The resale prices of HDB flats rose by 1.4 percent in the second quarter of 2009.
This comes after a slight drop of 0.8 percent in the three months ending March.
The jump in the second quarter was higher than an initial estimate of a 1.2 per cent increase made earlier this month.Resale transactions also rose, jumping from 6,400 cases in the first quarter, to 10,000 cases in the 2nd quarter.
The median cash-over-valuation or COV amount among all resale transactions continued its declining trend.
COV fell to $3,000 in the second quarter, down $1,000 from the 1st quarter.
CEO of real estate firm Propnex, Mohamed Ismail, said the lower COV made resale flats more attractive.
"COV has further declined, and this would have attributed for more buyers looking towards resale rather than the BTO or DBSS. Because either BTO or DBSS will take 3 to 4 years before they can get the keys to their respective houses. And this trend is expected to continue as long as the HDB COV is low, there will be greater demand."
HDB flats which sold above valuation accounted for 57 per cent of all resale transactions in the second quarter, down from 62 percent in the previous quarter.
HDB also announced plans to launch 6,000 new Build-to-Order flats over the next six months, of which some 2,400 units will be 3-room or smaller apartments.
The bulk of the new flats will be in Punggol.
In the HDB rental market, rents for 3-room, 4-room and executive flats fell by $100, but remained the same for 2-room and 5-room units.
Tuesday, July 21, 2009
'Unrealistic' To Cap Prices
Source : The Straits Times, July 21, 2009
A CAP on increases in the resale prices of HDB flats would be 'unrealistic', Parliament heard on Monday.
Senior Minister of State for National Development Grace Fu argued that prices of properties - especially HDB flats which are owned by 85 per cent of Singaporeans - should be a reflection of Singaporeans' wealth, and hence it was 'not such a bad idea for prices to move steadily over time'.
Referring to a letter published in The Straits Times' Forum page last Saturday, she noted that there are Singaporeans who bought their flats at the height of the property boom in 1996 and are waiting for prices to return to that level so that they will no longer be in 'negative equity' - with their flats worth less than the loans they took out.
Ms Fu was replying to a question from Madam Ho Geok Choo (West Coast GRC), who asked if a cap should be imposed on rising HDB resale prices. Madam Ho raised concerns about whether or not HDB resale prices were being artificially propped up by inflated valuations.
Responding, Ms Fu pointed out that HDB valuations were not made by the Government, but by independent valuers based on recent transacted prices. She said the HDB resale price index has fluctuated within a narrow range of between plus 1 per cent and minus 1 per cent in the last few quarters, suggesting that prices have stabilised.
In fact, the cash over valuation or COV amounts have fallen - from a high of $22,000 in the fourth quarter of 2007 to below $5,000 in the second quarter of this year, said Ms Fu. The COV refers to the amount that a seller wants over and above the valuation of his flat. A lower COV means that the buyer has to fork out less in cash, as banks lend only up to a certain percentage of the valuation amount.
Ms Fu noted that HDB flats remained affordable to Singaporeans, as first-time home buyers who purchase a resale flat in non-mature estates use on average about 25 per cent of their household income to service their loans. This is 'well below' the benchmark of 30 per cent the HDB uses to measure affordability, she noted.
Read the full story in Tuesday's edition of The Straits Times
A CAP on increases in the resale prices of HDB flats would be 'unrealistic', Parliament heard on Monday.
Senior Minister of State for National Development Grace Fu argued that prices of properties - especially HDB flats which are owned by 85 per cent of Singaporeans - should be a reflection of Singaporeans' wealth, and hence it was 'not such a bad idea for prices to move steadily over time'.
Referring to a letter published in The Straits Times' Forum page last Saturday, she noted that there are Singaporeans who bought their flats at the height of the property boom in 1996 and are waiting for prices to return to that level so that they will no longer be in 'negative equity' - with their flats worth less than the loans they took out.
Ms Fu was replying to a question from Madam Ho Geok Choo (West Coast GRC), who asked if a cap should be imposed on rising HDB resale prices. Madam Ho raised concerns about whether or not HDB resale prices were being artificially propped up by inflated valuations.
Responding, Ms Fu pointed out that HDB valuations were not made by the Government, but by independent valuers based on recent transacted prices. She said the HDB resale price index has fluctuated within a narrow range of between plus 1 per cent and minus 1 per cent in the last few quarters, suggesting that prices have stabilised.
In fact, the cash over valuation or COV amounts have fallen - from a high of $22,000 in the fourth quarter of 2007 to below $5,000 in the second quarter of this year, said Ms Fu. The COV refers to the amount that a seller wants over and above the valuation of his flat. A lower COV means that the buyer has to fork out less in cash, as banks lend only up to a certain percentage of the valuation amount.
Ms Fu noted that HDB flats remained affordable to Singaporeans, as first-time home buyers who purchase a resale flat in non-mature estates use on average about 25 per cent of their household income to service their loans. This is 'well below' the benchmark of 30 per cent the HDB uses to measure affordability, she noted.
Read the full story in Tuesday's edition of The Straits Times
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