HDB to build BTO flats for singles

[Mustank]

http://business.asiaone.com/A1Business/Gen...016-377841.html

 

HDB to build BTO flats for singles

Joy Fang

my paper

Tuesday, Oct 16, 2012

More Housing Board (HDB) flats are being built just for singles, revealed National Development Minister Khaw Boon Wan in Parliament yesterday.

 

Mr Khaw said he had planned to wind down the rapid rollout of new Built-To-Order (BTO) flats of the past two years. With the Government looking into the possibility of allowing singles to purchase BTO flats, however, he has "deliberately ramped it up a little bit higher in order to cater for singles".

 

HDB said last month that the total supply of BTO flats this year will hit a record 27,000.

 

Mr Khaw said his ministry is still "mulling over" the exact number of flats for singles, as it is hard to determine how many units should be set aside.

 

Currently, singles can purchase only resale HDB flats, and they must be aged 35 and above before they can do so.

 

He said last month that even if singles were allowed to buy new flats, they would still face restrictions, such as not being allowed to sublet them. They would also be allowed to buy only smaller flats and have to be at least 35 years old.

 

He had said then that he was still garnering views and would unveil more details next year.

 

In a blog post on Sept 8, Mr Khaw said he needed to assess the demand from singles.

 

"The additional demand is unlikely to be small and if we misjudge, the interests of married couples, especially those with children, may be adversely affected," he wrote.

 

Mr Khaw told the House yesterday that the number of new flats each year has been meeting the demands of new families, in line with the 15,000 marriages involving Singapore citizens a year.

 

But there is additional demand from upgraders, downgraders and second-timers, he added.

 

He was responding to a question by Mr Liang Eng Hwa, Member of Parliament for Holland- Bukit Timah GRC, on whether there was an adequate supply to meet projected demand, and whether there will be a reserve of surplus flats to meet unanticipated demand.

 

In a written reply, Mr Khaw said that temporary occupation permits are expected to be issued for 11,300 flats this year.

 

This figure is expected to rise to 16,300 next year and 26,800 in 2014.

 

He also noted that, while the property market shows signs of stabilising, "we are not out of the woods yet".

 

With recent announcements of further monetary expansion in the United States and the euro zone, low interest rates are expected to persist, said Mr Khaw.

 

This could contribute to strong demand for residential property and "cause prices to rise beyond sustainable levels".

 

On the $1-million price tag for a Queenstown flat sold recently, he said it was an exception.

 

The unit is an executive flat on the 16th floor, "not your typical HDB flat", he said.

 

"In some HDB towns, there will be some of such units with unique characteristics, for which buyers are willing to pay way above market valuation."

 

The move to let singles buy BTO flats is welcomed by finance executive Eugene Chen.

 

"I want to be able to have my own life despite not having plans for marriage. Privacy and independence are also factors that drive me to have my own home," said Mr Chen, 27.

 

While he felt being restricted to buying a smaller unit was reasonable, he said the minimum age of 35 was too high.

 

"I would prefer to be able to lead my ideal lifestyle before that age," he added.

 

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[Tarzan666]

wat if 2 singles owners of 2 BTO unit...decided to get married??

 

35 not really very old..in fact very marriageble age..

 

maybe dat whole block all single men & women...wow..

[Mustank]

wat if 2 singles owners of 2 BTO unit...decided to get married??

 

35 not really very old..in fact very marriageble age..

 

maybe dat whole block all single men & women...wow..

 

 

i think their studio apartment nobody wanna buy so sell to singles

[13177]

wat if 2 singles owners of 2 BTO unit...decided to get married??

 

35 not really very old..in fact very marriageble age..

 

maybe dat whole block all single men & women...wow..

Think one of them needs to sell off their flat if 2 singles decided to get married. But so far they still have not implement the rules and policy for singles to buy BTO. Dont know whether would they really implement this policy or in the end just say say only?!

[Gitanic]

My sis getting married.

 

4 room resale in Telok Blangah costs 600-700k.

 

Ministstar pls do something hor.

 

[Jman888]

My sis getting married.

 

4 room resale in Telok Blangah costs 600-700k.

 

Ministstar pls do something hor.

 

 

those new BTO cost only $300K, why she cannot stay there?

 

need minister to baby sit their baby later?

 

[Gitanic]

those new BTO cost only $300K, why she cannot stay there?

 

need minister to baby sit their baby later?

Income ceiling reached.HDB tak mao sell to her.

 

Why u dun koe this.U stay kondo?

[Jman888]

Income ceiling reached.HDB tak mao sell to her.

 

Why u dun koe this.U stay kondo?

 

 

hit income ceiling mean can afford $500K-$600K lah, can go for the $1 million queenstown EM

[Gitanic]

hit income ceiling mean can afford $500K-$600K lah, can go for the $1 million queenstown EM

700k abit risky.Mthly 2k+- whole life time.

 

Who can guarantee job?

 

Lots a stress.

 

Asking 4 room only hor.

[Little_prince]

then why she die die must stay telok blangah?

 

5 room in punggol abt 400k nia

 

you want good location pay more. cant afford then stay further away lor.

[TVT]

Its not going to be easy to do this. Lots of consideration to be made.

 

One will be : does this encourage more singles to remain single ???

[Gitanic]

then why she die die must stay telok blangah?

 

5 room in punggol abt 400k nia

 

you want good location pay more. cant afford then stay further away lor.

That is what i say lor.

 

Her reason--near work place,near sister,mother.

[Neost]

That is what i say lor.

 

Her reason--near work place,near sister,mother.

 

easy lah, everybody sells their flats and all move to punggol together

 

 

[Gitanic]

hit income ceiling mean can afford $500K-$600K lah, can go for the $1 million queenstown EM

Actually both are Grads w abt 10 years working experience.They do have CPF.

 

But the thought of setting aside 2k mthly for the flat is daunting.Considering it is whole lifetime.

 

And asking for a resale 4 room only.

 

If only ceiling is adjusted.

 

But then the lesser will complaint then [:p]

[Gitanic]

easy lah, everybody sells their flats and all move to punggol together

Nobel HDB prize

[LoverofCar]

My sis getting married.

 

4 room resale in Telok Blangah costs 600-700k.

 

Ministstar pls do something hor.

 

ask sister to move to other area la....other area cheap....want to stay telok blangah who can help....don't everything blame minister lah....government must also ''bao'' you have male baby or not later?

Edited October 18, 2012 by LoverofCar

[Mockngbrd]

i was thinking about it and to me, it makes no sense to penalise couples who each own a BTO to sell one BTO off if they get married, doing so will just reduce the number of married couples.

[Gitanic]

ask sister to move to other area la....other area cheap....want to stay telok blangah who can help....don't everything blame minister lah....government must also ''bao'' you have male baby or not later?

U no mercy.....like the...er...er up there [bigcry]