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Subscribe to this list via RSS Blog posts tagged in Additional Government Housing Grants

Less property tax for most owner-occupied homes in 2014

Posted by Property Launch Invest on Friday, 29 November 2013 in Property News

Most owner-occupied homes will pay less in property tax next year, the Inland Revenue Authority of Singapore said on Tuesday.

Under the new Progressive Property Tax Rates regime announced during Budget 2013, all owner-occupied HDB flats and three-quarters of owner-occupied private homes - or 95 per cent of owner-occupied homes - will see lower property tax bills.

Taking into account non-owner-occupied homes, 80 per cent of all homes will pay lower property tax next year.

Analysts call for resale levy on HDB-to-EC upgraders

Posted by Property Launch Invest on Saturday, 16 November 2013 in Property News

SINGAPORE: Some property observers say imposing a resale levy on those upgrading from a HDB flat to an executive condominium (EC) could be one of the tweaks the government may make to the current EC scheme.

But they remain divided over the relevance of the current EC scheme in today's market.

National Development Minister Khaw Boon Wan had said on Thursday that the EC scheme cannot carry on in its current form.

Buyers in tizzy over possible EC tweaks

Posted by Property Launch Invest on Saturday, 16 November 2013 in Property News

Uncertainty over subsidies after minister hints at scheme changes

POSSIBLE changes to the executive condominium(EC) scheme, hinted at by National Development Minister Khaw Boon Wan recently, have got buyers and developers worried.

Some are bracing themselves for a cut or even removal of Government subsidies for first-time applicants. Others predict the uncertainty could drive up demand for new launches.

Last Thursday, Mr Khaw told participants at an Our Singapore Conversation dialogue that the EC scheme cannot continue as it is.

Punggol to have 7 new waterfront districts

Posted by Property Launch Invest on Wednesday, 13 November 2013 in Property News

THE Housing Board has unveiled the next phase of development for Singapore's hottest new estate, Punggol, which is also known for being the first eco-town.

Estimated to be twice the size of Ang Mo Kio when it is complete, the eco-precinct is expected to boast seven new districts for waterfront housing, as well as abundant greenery to soften its projected high density.

Last night at the HDB Awards gala at Marina Bay Sands, National Development Minister Khaw Boon Wan painted the next phase of Punggol as part of the Government's plan to progressively raise the standard of HDB living while catering to a growing population.

Executive condominium land price hits all-time high

Posted by Property Launch Invest on Thursday, 07 November 2013 in Property News

SINGAPORE — The price of executive condominium (EC) land has hit a record high as developers bid aggressively in anticipation of strong demand for such hybrid public-private housing, casting doubt on the Government’s efforts to moderate bidding by having site tenders close at the same time.

For the first time, the tender for three EC sites closed on the same day yesterday, but the top bid for a site in Jurong translated to S$418.53 per sq ft per plot ratio, breaking the S$400 psf ppr barrier and the previous high of S$392.45 psf ppr more than two years ago. The other two tenders for sites in Punggol also attracted strong bids.

Khaw hints at changes in EC scheme

Posted by Property Launch Invest on Wednesday, 23 October 2013 in Property News

SINGAPORE: National Development Minister Khaw Boon Wan has said the government loses "hundreds of millions" of dollars when constructing public flats.

He made the point on Thursday night at a dialogue session on housing issues.

This comes amid calls from some quarters for land costs to be taken out from the pricing of public flats to make them more affordable.

Cracks in EC prices' glass ceiling

Posted by Property Launch Invest on Wednesday, 23 October 2013 in Property News

SINGAPORE - Tenders for three executive condominium (EC) sites will close on the same day - July 30. This unprecedented timeline has been designed by the Government to moderate tender bids and rein in private property price growth.

The previous practice of staggering deadlines allowed developers to wait and see if they won one tender before submitting a bid for the next. But they will now likely choose only one or two sites to bid for rather than risk winning all three at the same time.

It will be a keenly watched event as observers track if the new move will bring down the number of bids per site and affect the quantum of the winning bids, given the bullish offers for recent state tenders and the strong take-up rate for ECs.

More housing grants introduced

Posted by Property Launch Invest on Friday, 11 October 2013 in Property News

SINGAPORE: The government has introduced a slew of measures aimed at making the purchase of homes here more affordable.

To help middle-income families afford their first home, the Special CPF Housing Grant of up to S$20,000 will be extended to middle-income households with a combined income of up to S$6,500.

That is up from the current household income ceiling of S$2,250.

This Special CPF Housing Grant scheme will also be extended to four-room flats in non-mature estates. Previously, the grant was only for two- and three-room flats.

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