Singapore Property Scene Discussion

[Kopites]

13 hours ago, Mkl22 said:

HDB can take back the flats. Wahahahahhaa. Looks like the Yishun one return to hdb Liao. 
 

https://www.channelnewsasia.com/singapore/empty-bto-flats-hdb-investigation-cases-property-portals-penalties-mop-3162821?cid=internal_sharetool_iphone_22122022_cna

 

still wanna give chance and let them fulfill MOP Ah? Cheong Kong lo! 

Such incidents will open up another can of worms. 

Interpretation of "MOP" terminology imo.

Like that lady replying to Ho Ching Facebook post. Why do owner need to pay "property tax" if the owner does not own the property.

All such cases met the MOP before putting up for sales. Literally mean they have not being occupied since the day of collecting keys. Technically speaking HDB has been sleeping on the job for the past five years? 

Edited December 23, 2022 by Kopites

[Rskc]

7 minutes ago, Volvobrick said:

Now they will be putting in a few used IKEA furniture..... 

道高一尺，魔高一丈。。。

但邪不胜正，纸是保包不住火的吧。😁 I won't risk few hundred $Ks by putting a few ikea stuff and pray all go thru. 😅

[inlinesix]

5 minutes ago, Rskc said:

道高一尺，魔高一丈。。。

但邪不胜正，纸是保包不住火的吧。😁 I won't risk few hundred $Ks by putting a few ikea stuff and pray all go thru. 😅

Heresay, HDB will inspect reno before final approval.

 

[Mkl22]

53 minutes ago, Kopites said:

Such incidents will open up another can of worms. 

Interpretation of "MOP" terminology imo.

Like that lady replying to Ho Ching Facebook post. Why do owner need to pay "property tax" if the owner does not own the property.

All such cases met the MOP before putting up for sales. Literally mean they have not being occupied since the day of collecting keys. Technically speaking HDB has been sleeping on the job for the past five years? 

HDB says that they are aware and have caught that many since 2017. Who knows. Anything with subsidy it’s up one to try to game the system and get burnt if they fail. 

It’s always SAF Rule Number One. 

Edited December 23, 2022 by Mkl22

[Windwaver]

1 hour ago, Kopites said:

Such incidents will open up another can of worms. 

Interpretation of "MOP" terminology imo.

Like that lady replying to Ho Ching Facebook post. Why do owner need to pay "property tax" if the owner does not own the property.

All such cases met the MOP before putting up for sales. Literally mean they have not being occupied since the day of collecting keys. Technically speaking HDB has been sleeping on the job for the past five years? 

I'm pretty sure there are sale of such flats without the need to even put up an ad, just word of mouth can sell.

Huat ah!

[Kopites]

59 minutes ago, Windwaver said:

I'm pretty sure there are sale of such flats without the need to even put up an ad, just word of mouth can sell.

Huat ah!

 

I am sure there are other unsurfaced units. Greed of one such case (yishun) caused the patching up of such loop hole.🤔

 

[Hoseyboh]

3 hours ago, Volvobrick said:

All listings will be changed to "Like New" "Super well maintained" "Vacant" Possession..... 

Love to see the day owners and HDB fight it out in the court! 

Please add Lady teacher owner, still have smell of leather, owner second/third house... 😁

3 hours ago, Volvobrick said:

All listings will be changed to "Like New" "Super well maintained" "Vacant" Possession..... 

Love to see the day owners and HDB fight it out in the court! 

 

[Alfc]

Very easy to prove whether the house is occupied or not. Not by any fake furniture, but all HDB needs to do is to ask for the utilities record for the past 5 years. Can get from utilities company too if owner does not have.  

[Khng8]

@Alfc if there is a will there is a way. One can install smart devices to use some electricity and water each day. No end if one wants to beat the system.

Unless you can remove the profit element.

[Fcw75]

[Stary]

del

Edited December 23, 2022 by Starry

[therock]

Wow, relentless increase?

https://www.propnex.com/picks-details/603/do-not-play-the-waiting-game-because-home-prices-are-unlikely-to-drop-in-2023

[Windwaver]

2 hours ago, therock said:

Wow, relentless increase?

https://www.propnex.com/picks-details/603/do-not-play-the-waiting-game-because-home-prices-are-unlikely-to-drop-in-2023

Demand is very strong.

[Victor68]

On 12/23/2022 at 12:44 PM, Alfc said:

Very easy to prove whether the house is occupied or not. Not by any fake furniture, but all HDB needs to do is to ask for the utilities record for the past 5 years. Can get from utilities company too if owner does not have.  

There is no incentive to check because they are enjoying high sale volume for HDB even at inflated prices. It is Huat all the way better biz than private developers where they risk of unsold units and all the additional stamp duties. 

[Windwaver]

https://www.99.co/singapore/insider/hdb-resale-maisonette-toh-yi-drive-flat-sold-s1-3m-jurong-east-flat-sold-s1m/

Record-breaking HDB resale maisonettes: Toh Yi Drive flat sold for S$1.3m, Jurong East flat sold for S$1m

We may still be in the holiday season (Merry Fa Cai everyone!), during which there’s a lull in property transactions. But that doesn’t stop us from seeing record-breaking HDB resale transactions.

(Writer’s note: these transactions may have been closed before the holiday period, but were only registered in HDB’s record recently. So it’s more likely that Christmas came early for these sellers!)

Among the all-time high resale transactions recorded recently, a couple stood out to us: a S$1.3 million transaction for a Toh Yi Drive HDB resale flat, and a million-dollar flat sale for a Jurong East HDB resale flat. Both are HDB maisonettes and currently hold the all-time high record price for an HDB resale flat in their respective towns.

This Toh Yi Drive HDB maisonette has also taken over the previous record holder (which we reported in early December) to become the most expensive HDB executive resale flat in Singapore.

S$1.3m Toh Yi Drive maisonette is now the most expensive HDB executive resale flat

Spanning 1,615 sq ft, this HDB maisonette in Bukit Timah was sold for a price psf of around S$805.

It’s located within the 10th to 12th floor in Blk 2 Toh Yi Drive, just opposite the block where the previous record holder for the most expensive HDB executive resale flat is located.

The previous record holder is also an HDB maisonette, located at Blk 3 along the same road and was sold for S$1,290,800.

But in terms of price psf, this Blk 2 flat is not the record holder. That record still belongs to a 1,572 sq ft HDB maisonette at Blk 6 Toh Yi Drive, which was sold for S$814 psf earlier in September.

Similar to the Blk 3 maisonette, the lease of this current record holder started in 1988, which means it is 34 years old and has only around 64 years 9 months of remaining lease.

Location-wise, Blk 2 Toh Yi Drive is around a five-minute walk to Beauty World MRT, Bukit Timah Market and Food Centre, and Pei Hwa Presbyterian Primary School. Shopping malls nearby include Bukit Timah Shopping Centre, Beauty World Centre and Beauty World Plaza.

There’s also an upcoming mixed-use development The Reserve Residences at around an eight-minute walk away, where residents can expect retail spaces and a new bus interchange.

First million-dollar HDB resale flat in Jurong East

Another transaction that caught our eye is the S$1 million sale of an HDB maisonette at 287D Jurong East Street 21. This also means that it’s become the first resale flat in Jurong East to break the million-dollar mark and is now the most expensive HDB resale flat in the estate.

Located within the 7th to 9th floor, the executive HDB flat has a floor area of 1,561 sq ft. This translates to a price psf of around S$641 psf.

With its lease starting in 1998, it is around 24 years old and has around 74 years and 7 months of remaining lease.

Notably, the flat is located in one of the blocks that’s closest to the heart of Jurong East. For instance, Jurong East MRT, Westgate, JEM and IMM are all around a 10-minute walk away.

Jurong East is also set to be Singapore’s second CBD with the development of Jurong Lake District.

In general, the average prices of HDB executive flats in Bukit Timah and Jurong East have stayed above the national average over the past 15 years.

As of writing, the average price psf of these flats this year in Bukit Timah is S$766, way above the national average of S$500. Meanwhile, the average price psf of these flats in Jurong East is just slightly higher at S$501.

Million-dollar HDB maisonettes

Of the 365 million-dollar HDB resale flats sold this year (as of 27 December), 75 are HDB maisonettes. While many of them come from centrally-located estates such as Bishan, Bukit Timah and Serangoon, a small number (nine, to be exact) come from the suburbs, such as Bukit Batok, Pasir Ris and Jurong East.

Unlike typical HDB flats, HDB maisonettes are double-storey flats. The common areas are usually on the first floor, while the bedrooms are on the second floor.

Given that HDB maisonettes are no longer built, they have become even more prized among potential buyers.

[Wt_know]

one word ... singapore property is CHEAP !!!

if you belong with the "group" don't find it cheap ... means what ar?   

Edited December 28, 2022 by Wt_know

[Windwaver]

2 hours ago, Wt_know said:

one word ... singapore property is CHEAP !!!

if you belong with the "group" don't find it cheap ... means what ar?   

Means this

[therock]

Will we be around long enough to see if they can appreciate in value anymore.. 🤔