FTrash Push PHole Prices to New High Woh

[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width=560><TBODY><TR><TD vAlign=top width=550 colSpan=2>HDB resale market hits a new high <!-- TITLE : end--></TD></TR><TR><TD>

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</TD></TR><TR><TD class=content_subtitle align=left>Fri, Jul 23, 2010
AsiaOne </TD></TR></TBODY></TABLE></TD><TD width=400 align=right><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR><TD vAlign=top align=right> </TD><TD height=15>

</TD><TD vAlign=top align=right></TD></TR></TBODY></TABLE><TABLE><TBODY><TR><TD></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD><!-- Story Without Image / With eXtra Large Image End --></TD></TR><TR><TD class=bodytext_10pt colSpan=3><!-- CONTENT : start -->Prices of HDB resale flats have hit a new high in the second quarter of this year.
According to the latest statistics released by the Housing Development Board (HDB), the resale price index in the second quarter this year rose 4.1 per cent over the previous quarter, compared to the increase of 2.8% in the first quarter of this year.
The median Cash-Over-Valuation (COV) amount amongst all resale transactions also increased to $30,000, with the proportion of resale cases transacting above valuation increasing to 96%.
Units in the Bishan area garnered the highest median COV amount as compared to other towns, with flats going for $40,000 above valuation on average in Q2.
However, Singaporeans seem undeterred by the jump in prices, as resale transactions rose by about 7% this quarter, from 8,484 cases.
Increase in supply of flats to meet demand
HDB says it is ramping up its new flat supply this year to meet the demand from first-timer households. More Design, Build and Sell Scheme (DBSS) flats and Executive Condominiums (EC) units will also be launched.
It will hopefully provide more choices for first-timer households, and divert some demand from the HDB resale market, said the HDB.
The Built-to-Order (BTO) projects in the second half of the year will located in towns such as Woodlands, Yishun, Punggol and Sengkang, for a "good geographical spread".
For this month, flat buyers can look forward to about 1,000 BTO flats in Jurong West and Bukit Panjang.
To provide more choices for higher-income earners, 4,700 upcoming units are to be launched under the Design, Build and Sell Scheme (DBSS) and Executive Condominium (EC) Housing Scheme:
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They are:

• The Yishun DBSS site awarded in May 2010 has an estimated yield of 700 units;
• Another DBSS site at Tampines PH2, launched on 23 Jun 2010 for sale by public tender, has an estimated yield of 580 units;
• Two new DBSS sites in Bedok Reservoir and Upper Serangoon, to be launched later this year, will yield another 1,000 flats;
• Four EC sites in Sengkang, Yishun and Punggol yielding an estimate of 1,985 units had been awarded in 1H2010; and
• One EC site in Jurong with an estimated yield of 460 units was launched on 2 Jul 2010 with tender closing on 12 Aug 2010.

There are also four sites in the pipeline for EC supply located in Punggol, Pasir Ris, Bukit Panjang and Tampines, expected to yield another 1,900 units.
HDB says it is prepared to launch more sites for DBSS development if there is sustained demand.
HDB rental market
Subletting transactions increased by about 15% from 6,606 cases in the first quarter of 2010 to 7,595 cases in the second quarter of this year.
The median rental price for a five-room flat is about $2,000, with median rent on executive units at $2,100. The median rental price for a 2-room, 3-room and 4-room unit is $1,200, $1,500 and $1,800 respectively.
The total number of HDB flats approved for subletting rose to about 30,500 units in Q2, compared to about 27,300 units in Q1 2010.

 

[makapaaa]

However, Singaporeans seem undeterred by the jump in prices, as resale transactions rose by about 7% this quarter, from 8,484 cases

=> More like FTrash are undeterred right?

 

[Teo Kok Eng]

Price goes up, good for owners, bad for buyers

 

[makapaaa]

Jul 24, 2010

Rents rise for bigger flats

<!-- by line -->By Esther Teo
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THE Housing Board (HDB) rental market continues to strengthen with larger units showing the biggest rental jump.
Overall median monthly rentals inched up in the second quarter, helped by the demand from those fleeing from high private property rents. Foreigners and locals who have sold their homes in a hot market are among those boosting HDB rents, experts say.
Overall, median rentals for two- and three-room flats were flat at $1,200 and $1,500 respectively. But four-room, five-room and executive flats saw median rental increases of between $50 and $100 a month from the previous quarter.
Four-room flat monthly rentals rose to $1,800 from $1,750, five-room flat rentals were $2,000 from $1,900 and executive flat rentals climbed to $2,100 from $2,000 in the previous quarter.
Median rentals for executive flats in Queenstown also passed the $3,000 mark for the first time since the fourth quarter of 2008, rising to $3,200. There were, however, fewer than 10 of such sublets.
Five-room flats median monthly rentals in the central region also hovered over the $3,000 benchmark for the second consecutive quarter at $3,150.
Read the full story in Saturday's edition of The Straits Times.
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[Teo Kok Eng]

Five-room flats median monthly rentals in the central region also hovered over the $3,000 benchmark for the second consecutive quarter at $3,150.

Can rent out for $3000 and rent in JB for RM1000 a month, the difference put in pocket.

 

[xebay11]

As long as MOP remains at 5 years before legally allowed to rent, HDB prices will continue to skyrocket, once owner wants to sell, with the rental, he can keep waiting for till he gets his asking price, while moving to newly completed private property, bring back the 10 yr MOP.