Latest news with #SingaporeHousing
CNA
6 days ago
- Business
- CNA
CNA938 Rewind - Will we see more million dollar flats as the MOP period for many new estates approaches?
CNA938 Rewind Singaporeans could expect a moderation of resale flat prices, when more new flats meet their minimum occupation period starting next year. Lance Alexander and Daniel Martin speak more with Nicholas Mak, Chief Research Officer,
CNA
6 days ago
- Business
- CNA
CNA938 Rewind - Can Singaporeans expect moderated resale flat prices in 2026?
CNA938 Rewind Singaporeans could expect a moderation of resale flat prices, when more new flats meet their minimum occupation period starting next year. Lance Alexander and Daniel Martin speak more with Nicholas Mak, Chief Research Officer,
CNA
15-05-2025
- Business
- CNA
1,000 BTO flats at site of former Keppel Club golf course to go on sale in October
SINGAPORE: About 1,000 Build-to-Order (BTO) flats at the site of the former Keppel Club golf course will go on sale in October, National Development Minister Desmond Lee said on Thursday (May 15). The project will offer units ranging from two-room flexi to four-room flats, as well as public rental flats. The new flats will be located next to Berlayer Creek, an area "rich with biodiversity as well as historical maritime connections", said Mr Lee in a Facebook post. "Residents can enjoy the conveniences of downtown living and panoramic views of the waterfront. The estate will be sensitively designed in response to the area's rich biodiversity," he added. "It will come with lush green spaces and stepped building heights of between 19 and 46 storeys." Mr Lee said families can look forward to a preschool and a nature-themed playground. New landscaped terraces and green corridor features will also be integrated into the development to facilitate "ecological movement" and create new habitats to attract and protect biodiversity, as guided by recommendations from an environmental study and feedback from nature groups. It was previously announced that about 9,000 new homes will be built on the Keppel Club site, with about two-thirds being Housing and Development Board (HDB) flats. Mr Lee said in April 2022 that the first BTO project on the site would be launched for sale within three years. When asked in 2022 if the flats at the Keppel Club site would be Prime flats, HDB said "a range of factors" would need to be considered. These include the project's "locational attributes and market values". Prime flats are priced with more subsidies to ensure affordability, but also come with tighter restrictions on resale and rental to reduce the 'lottery effect'. One such restriction is the subsidy clawback – derived as a percentage of the flat's resale or valuation price, whichever is higher. Prime flats also come with a 10-year minimum occupation period. NEW FLATS IN TOA PAYOH Mr Lee also said about 740 flats in Toa Payoh Town (West) will go on sale in the July BTO exercise. The new estate will have an eating house, shops and a preschool. "Apart from being conveniently located near Caldecott MRT station, residents will also have easy access to a hawker centre and neighbourhood shops," Mr Lee said. The new flats will be at the junction of Toa Payoh Rise and Braddell Rise, and is next to Lighthouse School, according to a map on HDB's website. It is within a five-minute walk of Caldecott MRT station and is also near Braddell MRT station. The flats in Toa Payoh Town (West) are among the 5,400 flats that will be launched in the July BTO exercise. Flats in Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines and Woodlands will also be up for sale. Mr Lee said: "We are committed to ensuring that public housing remains affordable, inclusive and accessible for Singaporeans by building more homes across the island, including in areas near to the city centre. "This will enable families to live closer to their workplaces or their elderly parents who may be staying in the older HDB towns nearer to the city centre, for mutual care and support."
Independent Singapore
07-05-2025
- Business
- Independent Singapore
Singapore's HDB resale flat price growth continues to slow at 1.6% in Q1 2025
SINGAPORE: HDB resale flat prices in Singapore rose by 1.6% in the first quarter of 2025 (Q1 2025), slowing for the second straight quarter from the 2.6% growth in Q4 2024 and below the 1.8% quarterly increase recorded in Q4 2023, Singapore Business Review reported, citing the latest report by OrangeTee & Tie. The report showed that while prices continued to climb for the 20th quarter in a row, the pace of growth has slowed down. Analysts pointed to a growing price resistance among buyers, especially among those mid-tier and lower-end segments. The price growth was particularly slower for 4-room and 5-room flats, which recorded quarter-on-quarter increases of 1.9% and 2.1%, respectively, both below previous levels. Two-room flats also saw a dip, with a 1.5% rise, down from 2.3% in the previous quarter. Meanwhile, 3-room flats saw a slight increase of 2.2%, while executive flats experienced a modest rise of 1.4%, up from 0.1% in the previous quarter. Across the island, fewer towns posted price increases. Only 19 towns saw price growth, down from 20 previously, while the number of towns with falling prices went up to seven. The Central Area led the declines, with a sharp 18.5% drop, followed by Geylang at 7%. In terms of transactions, 6,590 resale flats were sold in the first three months of 2025. This was a 2.6% rise from Q4 2024, but year-on-year, sales fell by 6.8%—the lowest first-quarter performance since the pandemic hit in Q1 2020. The report attributed softer demand partly to heightened competition from newly launched Build-To-Order (BTO) and Sale of Balance Flats (SBF). Over 10,000 new flats were released under these exercises in February alone. Still, demand for premium resale unit flats remains strong, with a record 348 million-dollar flats sold in Q1 2025, up from just 285 in Q4 2024. The most expensive flat sold was a DBSS unit in Toa Payoh Lorong 1A that went for S$1.6 million. The number of flats sold for S$800,000 or more also increased to 1,183 units, with Tampines, Toa Payoh, Bukit Merah, Kallang/Whampoa, and Queenstown being the top areas for high-value transactions, which analysts said are likely driven by cash-rich private property owners looking to downgrade. Looking ahead, OrangeTee forecasts resale price growth of 4% to 6% and sales volume between 25,000 and 27,000 units for the year, a decline from 2024's total of 28,986 transactions. /TISG Read also: First Mount Pleasant BTO project to go on sale in October as part of 19,600 new flats Featured image by Depositphotos (for illustration purposes only)
