Buy HDB need to sell private within 6 month

Date issued : 30 Aug 2010

During the National Day Rally on 29 Aug 2010, PM Lee Hsien Loong announced several measures to ensure that public housing will always remain within the reach of Singaporeans who are buying their first home. This will be achieved by increasing housing supply and dampening demand from those who are not in urgent need of housing.

2This press release provides details of the measures to:

(a) Allow households earning between $8,000 and $10,000, to buy new DBSS flats with a $30,000 CPF Housing Grant;
(b) Increase the supply of new flats, Design, Build and Sell Scheme (DBSS) flats, and Executive Condominiums (EC);
(c) Shorten the completion time of Build-To-Order (BTO) flats;
(d) Increase the Minimum Occupation Period (MOP) for non-subsidised flats to 5 years; and
(e) Disallow concurrent ownership of both HDB flats and private residential properties within the MOP.
More Housing Supply and Choices for First-Time Home Buyers


3HDB will ramp up the supply of new flats, DBSS flats and ECs substantially to meet the housing needs of first-time homebuyers.


4HDB will be offering more than 16,000 new flats in 2010. If demand remains strong, HDB is prepared to launch up to 22,000 new flats in 2011. These numbers are substantial. Over two years, HDB will offer more new flats than the total flats in Toa Payoh town today (35,400 flats).


5In addition, HDB will release more land for tender in 2010 to yield an estimated supply of 3,000 DBSS 1 flats and 4,000 ECs. In 2011, HDB will release land sites for another 4,000 DBSS flats and 4,000 ECs, if demand is sustained. This injection of 7,000 DBSS flats and 8,000 ECs over two years is also significant. In comparison, 4,000 DBSS flats and 10,000 ECs have been launched for public sale so far.


6Currently, first-timer households with monthly income of between $8,000 and $10,000 may buy an EC with a CPF Housing Grant of $30,000. To widen their housing options, HDB will allow these households to buy new DBSS flats with a CPF Housing Grant of $30,000 2 Similar to the purchase of ECs, the HDB concessionary loan will not be available for these buyers. This revision will be applicable to DBSS projects launched for public sale after 30 Aug 2010.


7To help households get their new flats faster, HDB has also streamlined the BTO processes to allow flat buyers collect keys to their new homes 6 months earlier. Buyers of projects launched in mid-2011 onwards will generally need to wait for 2.5 years 3 to collect the keys instead of the current 3 years.


HDB Flats for Owner-Occupation


8HDB flats are meant for long-term owner-occupation. HDB will increase the Minimum Occupation Period (MOP) to reinforce this and dampen demand from those who are not in urgent need of housing.


9First, the MOP of non-subsidised flats for resale and subletting of flat will be increased from three to five years. Second, buyers of non-subsidised flats will be disallowed from concurrently owning both an HDB flat and a private residential property within the MOP 4. Private property owners who buy a non-subsidised HDB flat must now dispose of their private residential property within six months from the date of flat purchase. This will help ensure that buyers purchase HDB flats only when they have the intent of staying in it for long term and ensure equitable treatment for all HDB flat lessees during their MOP. Ownership of private properties by HDB lessees will be allowed after the MOP.



10The revised changes are summarised in Table 1, and will apply to resale transactions where applications are received by HDB from 30 Aug 2010 onwards.


Table 1: Changes for Non-subsidised Flats*

Current
Revised
Resale
3 years
5 years
Subletting
3 years
5 years
Investment in Private Residential Property After Purchase of Non-Subsidised Flat
No Restriction
5 years
Disposal of Existing Private Residential Property After Purchase of Non-Subsidised Flat
Not Applicable
Within 6 months from
Date of Purchase
Note: * Resale flat bought without CPF housing grant. The MOP will be computed from the effective date of purchase of the non-subsidised flats.


ENQUIRIES


11For enquiries, the public can contact HDB at the following numbers:

(a) Sales/Resale Customer Service Line : 1800 8663 066
(b) Branch Office Service Line : 1800 2255 432

Footnote:

1 The DBSS was introduced in 2005 to encourage more private sector participation in public housing development. It complements the supply of new flats by HDB and provides flat buyers an additional housing option to meet their diverse needs and aspirations.
2 This is subject to them meeting all other eligibility conditions on citizenship and non-ownership of private residential property
3 Based on a typical precinct with five new blocks of 20 storeys high.
4 Currently, buyers of subsidised HDB flats are not allowed to own a private residential property within the 5-year MOP. On the other hand, buyers of non-subsidised flats can concurrently own a private residential property during the MOP, as long as they live in the HDB flat. Private property owners can also buy non-subsidised flats while concurrently owning their private residential properties, provided they live in the HDB flat during MOP. There is therefore disparity in treatment amongst the different groups during their MOP.

Balam 5 room 460 000 Apr 2009

Flat Type	:	5 Room
	HDB Town	:	Geylang
	Resale Approval Date	:	Jun 2008 To May 2009
	Total number of records found = 74

 

Block	Street Name	Storey	Floor Area (sqm) / Flat Model	Lease Commence   Date	Resale   Price	Resale Approval   Date
98	Aljunied Cres	01 to 05	130.00 Adjoined Flat	1975	$440,000.00	May 2009
105	Aljunied Cres	01 to 05	121.00 Improved	1979	$440,000.00	Feb 2009
105	Aljunied Cres	06 to 10	121.00 Improved	1979	$485,000.00	Dec 2008
125	Aljunied Rd	16 to 20	121.00 Improved	1983	$428,000.00	Feb 2009
125	Aljunied Rd	06 to 10	121.00 Improved	1983	$410,000.00	Jan 2009
126	Aljunied Rd	01 to 05	121.00 Improved	1983	$402,000.00	Nov 2008
125	Aljunied Rd	11 to 15	121.00 Improved	1983	$410,000.00	Jun 2008
29	Balam Rd	16 to 20	127.00 Improved	1997	$460,000.00	Apr 2009
33	Balam Rd	06 to 10	137.00 Model A	1996	$500,000.00	Oct 2008
56	Cassia Cres	06 to 10	120.00 Improved	1998	$600,000.00	Oct 2008
30	Cassia Cres	16 to 20	120.00 Improved	1998	$610,000.00	Aug 2008
42	Circuit Rd	01 to 05	127.00 Improved	1996	$438,000.00	Apr 2009
41	Circuit Rd	06 to 10	125.00 Improved	1996	$460,000.00	Jan 2009
42	Circuit Rd	01 to 05	127.00 Improved	1996	$455,000.00	Oct 2008
60	Dakota Cres	06 to 10	137.00 Model A-Maisonette	1983	$587,000.00	Dec 2008
62	Dakota Cres	06 to 10	139.00 Model A-Maisonette	1984	$600,000.00	Dec 2008
60	Dakota Cres	06 to 10	137.00 Model A-Maisonette	1983	$503,000.00	Nov 2008
62	Dakota Cres	06 to 10	139.00 Model A-Maisonette	1984	$570,000.00	Oct 2008
60	Dakota Cres	06 to 10	137.00 Model A-Maisonette	1983	$540,000.00	Jun 2008
15	Eunos Cres	06 to 10	117.00 Standard	1977	$420,000.00	May 2009
22	Eunos Cres	11 to 15	123.00 Standard	1977	$400,000.00	May 2009
15	Eunos Cres	06 to 10	117.00 Standard	1977	$410,000.00	Feb 2009
15	Eunos Cres	01 to 05	117.00 Standard	1977	$438,888.00	Jan 2009
22	Eunos Cres	11 to 15	123.00 Standard	1977	$385,000.00	Jan 2009
14	Eunos Cres	11 to 15	117.00 Standard	1977	$455,000.00	Dec 2008
22	Eunos Cres	06 to 10	123.00 Standard	1977	$405,000.00	Oct 2008
23	Eunos Cres	16 to 20	117.00 Standard	1977	$430,000.00	Jul 2008
23	Eunos Cres	11 to 15	117.00 Standard	1977	$415,000.00	Jul 2008
13	Eunos Cres	01 to 05	117.00 Standard	1977	$400,000.00	Jun 2008
22	Eunos Cres	06 to 10	123.00 Standard	1977	$363,000.00	Jun 2008
411	Eunos Rd 5	01 to 05	140.00 Model A-Maisonette	1984	$455,000.00	May 2009
413	Eunos Rd 5	06 to 10	135.00 Model A	1992	$471,000.00	Jan 2009
417	Eunos Rd 5	11 to 15	142.00 Model A-Maisonette	1984	$510,000.00	Sep 2008
411	Eunos Rd 5	06 to 10	142.00 Model A-Maisonette	1984	$510,000.00	Aug 2008
411	Eunos Rd 5	01 to 05	142.00 Model A-Maisonette	1984	$440,000.00	Jun 2008
124	Geylang East Ave 1	11 to 15	132.00 Model A	1983	$450,000.00	Jun 2008
123	Geylang East Ctrl	01 to 05	120.00 Improved	1982	$475,000.00	Jan 2009
23	Haig Rd	01 to 05	118.00 Improved	1981	$480,000.00	May 2009
7	Haig Rd	01 to 05	115.00 Improved	1976	$480,000.00	Oct 2008
6	Haig Rd	11 to 15	118.00 Improved	1976	$493,800.00	Jul 2008
6	Haig Rd	06 to 10	118.00 Improved	1976	$465,000.00	Jul 2008
7	Haig Rd	11 to 15	118.00 Improved	1976	$478,000.00	Jun 2008
23	Haig Rd	11 to 15	118.00 Improved	1981	$510,000.00	Jun 2008
47	Jln Tiga	16 to 20	110.00 Improved	2005	$585,000.00	Apr 2009
47	Jln Tiga	11 to 15	110.00 Improved	2005	$647,888.00	Nov 2008
120	Paya Lebar Way	11 to 15	118.00 Improved	1980	$385,000.00	May 2009
120	Paya Lebar Way	06 to 10	118.00 Improved	1980	$390,000.00	Apr 2009
123	Paya Lebar Way	16 to 20	118.00 Improved	1980	$417,500.00	Apr 2009
123	Paya Lebar Way	16 to 20	118.00 Improved	1980	$440,000.00	Mar 2009
123	Paya Lebar Way	06 to 10	118.00 Improved	1980	$395,000.00	Mar 2009
120	Paya Lebar Way	01 to 05	118.00 Improved	1980	$376,000.00	Dec 2008
120	Paya Lebar Way	11 to 15	118.00 Improved	1980	$392,000.00	Nov 2008
120	Paya Lebar Way	11 to 15	118.00 Improved	1980	$392,000.00	Nov 2008
120	Paya Lebar Way	11 to 15	118.00 Improved	1980	$400,000.00	Jun 2008
5	Pine Cl	06 to 10	114.00 Improved	2000	$570,000.00	May 2009
11	Pine Cl	01 to 05	113.00 Improved	2000	$525,000.00	Apr 2009
5	Pine Cl	11 to 15	110.00 Improved	2000	$620,000.00	Mar 2009
5	Pine Cl	01 to 05	113.00 Improved	2000	$585,000.00	Nov 2008
7	Pine Cl	16 to 20	110.00 Improved	2000	$625,000.00	Oct 2008
7	Pine Cl	16 to 20	110.00 Improved	2000	$635,000.00	Oct 2008
7	Pine Cl	16 to 20	111.00 Improved	2000	$620,000.00	Oct 2008
1	Pine Cl	06 to 10	110.00 Improved	2000	$601,000.00	Sep 2008
11	Pine Cl	11 to 15	110.00 Improved	2000	$630,000.00	Sep 2008
1	Pine Cl	16 to 20	110.00 Improved	2000	$643,888.00	Aug 2008
7	Pine Cl	01 to 05	113.00 Improved	2000	$550,000.00	Jul 2008
50	Sims Dr	21 to 25	117.00 Standard	1977	$467,000.00	Apr 2009
51	Sims Dr	01 to 05	117.00 Standard	1977	$405,000.00	Apr 2009
50	Sims Dr	11 to 15	117.00 Standard	1977	$436,000.00	Feb 2009
50	Sims Dr	01 to 05	117.00 Standard	1977	$420,000.00	Dec 2008
311	Ubi Ave 1	11 to 15	122.00 Improved	1985	$391,000.00	May 2009
336	Ubi Ave 1	01 to 05	121.00 Improved	1986	$285,000.00	Mar 2009
351	Ubi Ave 1	06 to 10	122.00 Improved	1988	$300,000.00	Nov 2008
336	Ubi Ave 1	01 to 05	122.00 Improved	1986	$309,000.00	Oct 2008
330	Ubi Ave 1	06 to 10	122.00 Improved	1985	$296,000.00	Sep 2008