New HDB Ruling

[Jman888]

Not drastic but slowly

 

New HDB measures target mortgage servicing ratio and maximum loan tenure

The maximum repayment period for HDB housing loans will also be lowered from 30 to 25 years, and from 35 to 30 years for bank loans taken to buy HDB flats, including those under the Design, Build and Sell Scheme.

 

Three-year waiting period for PRs to buy resale flats

Newly-minted Singapore permanent residents will now have to wait three years before buying a resale public flat, instead of straightaway after they become PRs.

 

More middle-income households now eligible for Special Housing Grant

The income limit will now be $6,500, a sharp increase from the previous $2,250. This will give a financial boost of up to $20,000 for those who choose four-room flats in non-mature estates.

 

http://www.hdb.gov.sg/fi10/fi10296p.nsf/Pr...A4?OpenDocument

[Altivo]

If this will bring down the prices of HDB flats, then I'm all for the measures. It is already a joke that our public housing needs cooling measures.

Edited August 28, 2013 by Altivo

[Little_prince]

too little too late. at least they're moving in the right direction

[Acemundo]

too little too late. at least they're moving in the right direction

 

especially the one on pr

[RadX]

i call this CM 7.5

[Jman888]

especially the one on pr

 

 

51,000 mean PR+PR or PR+SG?

 

There were 51,000 Housing Board flats fully owned by permanent residents as of end June, representing 6 per cent of all HDB flats, said Mr Khaw in a written parliamentary reply this month.

 

This year, 130 flats were sold by PRs within three years of their purchase, while 320 were sold within four years of purchase, and 490 within five years.

[Duckduck]

If this will bring down the prices of HDB flats, then I'm all for the measures. It is already a joke that our public housing needs cool measures.

 

to us is joke, to "them" is a political popularity agenda. its to make sure u have some connections here, yet so many have left SG n continue to rent out their flat while migrated overseas... thats y credibility lost n now become joke.

[Tjkbeluga]

yet so many have left SG n continue to rent out their flat while migrated overseas... thats y credibility lost n now become joke.

This will not last.... To renew PR, you need to be gainfully employed. There is also a recent restriction which I have forgotten what which disallow PR from further renting out.

[Kar_lover]

51,000 mean PR+PR or PR+SG?

 

There were 51,000 Housing Board flats fully owned by permanent residents as of end June, representing 6 per cent of all HDB flats, said Mr Khaw in a written parliamentary reply this month.

 

This year, 130 flats were sold by PRs within three years of their purchase, while 320 were sold within four years of purchase, and 490 within five years.

 

I believe fully owned by PR means both husband and wife is PR. The new rule only affects this group (pure PR couple).

 

My question is if husband is 10yr PR but wife is new PR then how? Can buy?

[Darryn]

What's interesting is the multi-generation flats - waiting to see how this is implemented, and how the pricing will be. Also if there are any new rules to go with the bigger flats.

 

Would love to see it such that they are tightly controlled and priced accordingly - i.e - MUST have three generation in same house now to be allowed to apply, CANNOT rent out a room etc etc - so that only very genuine multi-generation families can live, and you don't see the same farce we saw for EC where the penthouses were so stupidly expensive

[Joecamel]

no use.

correct me if i am wrong, most PR come here will not have money buy house. Effectively the 3 year waiting period is when they working and saving up money.

if they have money, they would be living a very comfortable life back in their home country and not want to come here.

 

the reduction of loan period will hurt us.

especially the one on pr

 

[Tjkbeluga]

What's interesting is the multi-generation flats - waiting to see how this is implemented, and how the pricing will be. Also if there are any new rules to go with the bigger flats.

 

Would love to see it such that they are tightly controlled and priced accordingly - i.e - MUST have three generation in same house now to be allowed to apply, CANNOT rent out a room etc etc - so that only very genuine multi-generation families can live, and you don't see the same farce we saw for EC where the penthouses were so stupidly expensive

Need to pay 3x toilet fee....

[Mustank]

those upgrader who buy ec 3 years ago, now their ec top-ing now one, all tio pwn

3 years ago, upgrader buy already thinking that when ec top, the cov will 50k, 100k, very song

but now when top, they will

no pr to sell to because old pr already got house liao

citizen will buy bto wont buy resale because bto is cheaper by a lot

so many upgrader buy ec, the slower ones will

ec upgrader better hurry up contact agent to sell

[Darryn]

This will not last.... To renew PR, you need to be gainfully employed. There is also a recent restriction which I have forgotten what which disallow PR from further renting out.

 

PR can rent for max 1 year (I think) - after that, no more

[Staff69]

So bishan and penis-cale owners can forget about selling for millions cos no one can afford so much cash down since loan term and income payment are restricted

[Jman888]

err.... there are many many many rich PRC here, they pay top COV too

 

no use.

correct me if i am wrong, most PR come here will not have money buy house. Effectively the 3 year waiting period is when they working and saving up money.

if they have money, they would be living a very comfortable life back in their home country and not want to come here.

 

the reduction of loan period will hurt us.

 

[Tjkbeluga]

PR can rent for max 1 year (I think) - after that, no more

Yea, I think that was it.

[Mustank]

What's interesting is the multi-generation flats - waiting to see how this is implemented, and how the pricing will be. Also if there are any new rules to go with the bigger flats.

 

Would love to see it such that they are tightly controlled and priced accordingly - i.e - MUST have three generation in same house now to be allowed to apply, CANNOT rent out a room etc etc - so that only very genuine multi-generation families can live, and you don't see the same farce we saw for EC where the penthouses were so stupidly expensive

 

angmo, mai tio con lah!

you think ah gong so generous ah

the trick very simple one

to buy MGF (multi generation flat), the parents must sell off their flat

govt very desperate to push down the resale hdb price because 2016 cumming liao, better hurry up to submit project before deadline

now how to sell, price going down already

somemore these MGF is only 115sqm, 5sqm more than 5 room only?!?!?!?