anything pasal HOUSING

deaf4ever

[quote]Originally posted by LoLiPoP at 19-2-2008 06:04 PM
tu yang best option la, tapi ko tgk je, beli from HDB, demand outweigh supply beb..tu lagik ksiao..

plan aku, save $$ sket

deaf4ever

ermm aku exxagerate sikit kot.
Early 2007 masih kalo ko ada low cash berapa ribu, ko dah bleh dapat rumah paling power giler kat location best,
other places mungkin tak yah cash atau masih harapan dapat cash lagi

fatz2

Singapura : 22 Februari 2008         
         
EJEN HARTANAH DAPAT 'DURIAN RUNTUH' TAHUN LALU
[
Penjulangan pasaran hasilkan komisen $500,000 hingga $1j

Oleh
Norhaiza Hashim

PASARAN hartanah yang menjulang tahun lalu telah membuat ramai ejen hartanah di sini, termasuk ejen Melayu/Islam, tersenyum lebar.

Ejen-ejen Melayu/Islam terbaik di Singapura misalnya telah menyaksikan pendapatan komisen mereka mencecah $500,000 hingga $1 juta tahun lalu, dedah beberapa syarikat agensi hartanah yang ditinjau Ekoniaga baru-baru ini.

Harga rumah privet menjulang 31 peratus tahun lalu, dengan indeks harga rumah privet mencapai paras tertinggi sejak 1996. Kenaikan itu turut 'tempias' kepada harga flat jualan semula HDB yang meningkat 17.5 peratus.

'Demam' hartanah tahun lalu didorong oleh pertumbuhan ekonomi yang baik, penjualan rumah secara kolektif (en-bloc) dan pembelian hartanah oleh warga asing.

Ramai ejen daripada firma-firma agensi hartanah di sini meraih keuntungan.

Malah, pemerintah juga dalam belanjawannya baru-baru ini berkata lebihan belanjawan sebanyak $6.45 bilion tahun lalu adalah disebabkan pertumbuhan ekonomi yang kukuh dan pasaran hartanah yang hangat. Ekonomi tahun lalu tumbuh 7.7 peratus - antara tahun yang paling kukuh.

Ejen hartanah PropNex, Cik Hana Mohd, berkata tahun lalu merupakan 'tahun terbaik sepanjang 15 tahun kerjayanya menjadi seorang ejen hartanah'.

Beliau mencatatkan komisen sebanyak $1 juta tahun lalu, daripada $600,000 pada 2006, hasil urus niaga rumah privet, flat HDB dan pemasaran projek perumahan privet di Malaysia.

'Tahun lalu, kami bekerja siang malam tanpa hari cuti. Apa sahaja pelanggan hendak, kami tidak boleh kata tidak walaupun mereka hendak tengok rumah pada waktu 12 malam atau semasa kami sibuk dengan kenduri pada hujung minggu. Kami perlu menjual rumah dengan pantas pada harga emas,' kata Cik Hana.

Ejen Melayu terbaik ERA Realty, Syed Abdullah atau lebih dikenali dengan nama Pak Lah, yang juga Pengarah Divisyen ERA Premier, turut mencatatkan komisen hampir $1 juta hasil purata 20 urus niaga setiap bulan atau 240 setahun. Malah, beliau memecah rekod ERA dengan menguruskan 36 hartanah pada April tahun lalu.

Oleh kerana pencapaiannya dalam menguruskan banyak urus niaga, beliau juga menduduki tempat kedua di peringkat Asia Pasifik.

'Beri fokus dan didiklah pelanggan. Itulah rahsianya. Sejak tujuh tahun lalu semasa saya baru menjadi ejen hartanah, saya bertekad menjadi 'ensiklopedia berjalan' bagi urus niaga flat HDB. Apa jua yang ingin diketahui pelanggan, saya akan dapat berikan jawapannya,' kata Pak Lah.

Tidak seperti Pak Lah yang menumpukan perhatian terhadap urus niaga flat HDB, Cik Desi Desmiarti daripada PropNex berjaya menarik hampir setengah juta dolar dari segi komisen hanya dengan menguruskan lebih 30 urus niaga rumah privet sepanjang tahun lalu.

Komisen terbesar yang diperolehi ialah sebanyak $55,000 hasil pembelian dan penjualan sebuah penthouse di kondominium Casuarina kepada seorang pembeli dari Indonesia.

'Tahun lalu merupakan tahun terbaik bagi saya. Salah seorang pelanggan yang saya baru bertemu dalam tempoh 15 minit membuka buku ceknya untuk membeli sebuah penthouse kerana begitu yakin saya dapat menjual rumah privet itu selepas itu pada harga jauh lebih tinggi,' kata Cik Desi, 45 tahun.

Antara ejen hartanah Melayu/Islam termuda yang mencatatkan prestasi terbaik tahun lalu ialah Encik Noor Haidi Abdul Malek, atau lebih dikenali dengan slogan nama 'Adi Mesti Jadi (Insya-Allah)'.

Baru berusia 34 tahun, bekas jurutera telekom ini, yang mempunyai kelulusan daripada Universiti Loughbrough di Britain, merupakan ejen Melayu kedua terbaik di ERA dengan komisen mencecah $600,000 tahun lalu.

Beliau juga merupakan ejen ketiga terbaik di peringkat Asia Pasifik kerana bilangan urus niaganya yang tinggi mencapai hampir 200 urus niaga setahun.

'Duit itu bukan senang diraih. Ia memerlukan kerja keras dan kesanggupan menolong sesiapa sahaja termasuk orang susah yang mungkin tidak memberi kita perniagaan yang lumayan tetapi membantu dalam memberikan rujukan atau referrals yang banyak,' kata Encik Adi.

fatz2

Singapura : 23 Februari 2008        

SURAT AMARAN BAGI KORIDOR FLAT YANG 'SELERAK'

Terlalu banyak barang boleh sekat laluan semasa kecemasan

Oleh
Khairul Bahriah Mahfud

USAH letak barangan seperti rak jemur atau basikal di laluan koridor demi menjamin keselamatan umum semasa kecemasan.

Demikian peringatan yang diberikan Majlis Bandaran Tampines kepada beberapa penduduk di estet itu baru-baru ini.

Penduduk tersebut telah diberi surat amaran agar tidak menyekat laluan koridor flat mereka dengan peralatan seperti rak jemuran, perabot dan basikal untuk menjaga keselamatan awam sekiranya berlaku kecemasan awam seperti kebakaran.

Malah, ada beberapa penduduk telah diberi beberapa surat peringatan apabila gagal berbuat demikian.

Salah seorang daripada mereka ialah Cik Misliha Hassan, 43 tahun, seorang penduduk Blok 880A di Tampines Street 83, yang menerima surat pertama pada 22 November tahun lalu.

Surat tersebut menerangkan bahawa barang-barang itu yang termasuk basikal dan perabot, boleh menjadi penghalang jika berlaku kebakaran.

'Sudah beberapa kali saya mengemas barangan di koridor tetapi surat amaran masih tiba juga,' katanya, yang telah menerima lebih kurang enam surat.

Encik Abubakar Hussain, 58 tahun, dari Blok 886A, turut menerima surat amaran sama.

Beliau berkata rak jemuran disimpan rapi di tepi dinding luar koridor ketika tidak digunakan tetapi surat amaran tetap tiba dua minggu kemudian.

'Mereka malah mengambil gambar sebagai bukti kesalahan,' kata Encik Abubakar.

Beliau juga mendakwa beberapa saudaranya di blok lain bagaimanapun tidak menerima surat amaran itu walaupun mempunyai rak jemuran di luar flat mereka.

Diminta mengulas tentang rayuan mereka, Cik Adelene Yeo, seorang jurucakap majlis bandaran tersebut, berkata usaha 'mengemas' koridor adalah satu latihan yang sedang digiatkan di serata Tampines.

'Tidak semestinya semua penduduk diberi surat ini kerana mereka telah terus melapangkan koridor,' katanya.

Penduduk yang tidak bekerjasama boleh didenda $100 bagi kesalahan kali pertama.

Para penduduk di kawasan itu kini mencari jalan lain untuk menjemur kain baju.

'Saya faham memang barang ini boleh berbahaya (jika berlaku kebakaran). Sekarang saya akan cuba jemur pakaian di dalam rumah,' tambah Cik Misliha.

fatz

Newly- weds dominate queue for flats

They form majority of the 10,240 applicants vying for 278 HDB units in mature estates in latest sale exercise
By Nur Dianah Suhaimi

TEACHER Suziyanti Jepto, 29, and her graphic designer husband Lewis Leong, 30, are in a hurry to buy a new HDB flat in a mature estate. But the odds are heavily against them.

Their application is among a record 10,240 received for 278 four-room, five-room and executive flats in mature estates such as Toa Payoh, Bukit Merah and Geylang. They were put up for sale earlier this month.

The HDB's bi-monthly sale of surplus flats in mature estates attracts not only newlyweds and would-be newlyweds needing a matrimonial home, but also families seeking bigger homes and retirees and downgraders looking for smaller units.

The Sunday Times understands that most of the applicants are newlyweds.

The bi-monthly sales exercise was introduced a year ago. In another sale last December, more than 5,000 applications streamed in for 316 flats in Hougang, Punggol and Sengkang.

This is the fourth application in 11/2 years for Ms Suziyanti and her husband, who married in 2006 and live with his parents in a five-room flat in Bedok.

She is now five months pregnant and feels a greater urgency to own her own home.

Explaining the overwhelming number of applicants, the HDB said that the number of surplus flats has dwindled from 17,500 in 2002 to fewer than 2,000 now.

Surplus flats are those which have been built but not yet taken up. Flats which were booked but returned to the HDB for various reasons also fall into this category.

Most of the 278 surplus flats in the latest exercise are almost complete, so applicants will not have to wait three to four years for them, which is the standard period for the HDB's build-to-order flats.

The HDB is already stepping up its building programme and plans to launch 4,500 flats early this year.

Speaking to reporters at a Building and Construction Authority event yesterday, Minister for National Development Mah Bow Tan said that demand was high because the 278 flats were in very desirable locations and very reasonably priced.

The HDB's advice to those who need a place immediately is to consider getting a resale unit in the open market. Its figures showed that one out of four resale flats sold last month was priced no higher than $10,000 above valuation.

This includes flats in popular mature estates such as Ang Mo Kio, Tampines and Bedok.

[email protected]

fatz

HDB upgrading not affected by Govt cuts
By Jermyn Chow

A GOVERNMENT decision to postpone up to $3 billion worth of public projects will not affect upgrading programmes for Housing Board flats, said National Development Minister Mah Bow Tan on Sunday.

The Government's cutback affects some projects, like hawker centres and school upgrading, but 'urgent projects', like the NUS University Town - which will house athletes for the inaugural Youth Olympics in 2010 - will not be put on the back-burner, he said.

Other projects that will go on as usual are the building of expressways and the Downtown Line.

'We have (a) sufficient budget to be able to continue with our upgrading programmes. At the same time, of course, HDB will have to look into ways in which it can cut the costs, improve the methods and productivity, and make sure we cut down on waste,' he said, in Tampines on Sunday.

The deferring of public projects is to help ease pressure on the construction sector, Government officials said last November.

About 590 HDB blocks in 58 locations have been selected for work under HDB's revised upgrading schemes, including Yishun, Tampines and Hougang.

These schemes include the Home Improvement Programme (HIP) and Neighbourhood Renewal Programme (NRP) unveiled last year.

Mr Mah repeated assurances that they will not be shelved.

The ongoing lift upgrading programme is also 'on schedule' to be completed by 2014, he said.

The upgrading of public housing and the remaking of new towns like Punggol and Yishun will raise the value of Singaporeans' assets, said Mr Mah.

That will mean they are better set up for their twilight years, if they choose to sell their flats back to the Government for retirement funds, he said.

He added that more details of the Government's lease buy-back scheme would be revealed during next week's Budget debate.

At least 25,000 people here are eligible for the scheme, which is open to people aged 62 and above, who own a two-room or three-room flat.

HDB said it is stepping up its building programme and plans to launch 4,500 flats early this year.

This comes after a record 10,240 applications were received for just 278 four-room, five-room and executive flats in mature estates such as Toa Payoh, Bukit Merah and Geylang.

fatz

HDB urged to be more compassionate in arrears cases
By Chio Su-Mei, Channel NewsAsia | Posted: 26 February 2008 1609 hrs



SINGAPORE: The Housing and Development Board (HDB) came under the spotlight in Parliament on Tuesday with MP Ong Kian Min urging it to exercise compassion in cases of mortgage arrears.

The MP for Tampines GRC said that while the lower income group in other countries could move to cheaper housing, Singaporeans do not have that option as HDB flats are already the cheapest form of housing.

He recounted how nine families in his constituency approached him for help on Monday night, having received compulsory acquisition notices from HDB due to mortgage arrears.

Among them was 53-year-old Judy Mitchell, a single parent with a working daughter and an aged mother.

"When I lost my job, I had a hard time finding a job. A lot of it was due to age. If I did get a job, it was not adequate to survive, but I would just take it on, so that at least I could get the momentum moving," said Judy.

She is behind in her mortgage payments for almost six months now, and her arrears come up to almost S$11,000.

She had offered to repay the HDB some S$800 a month, but she said the housing board insisted on a repayment scheme of S$2,000 a month.

Judy said: "I would like HDB to look at my actual situation. I am the sole breadwinner in this family, and looking at what my total salary package is, (I hope) they could compromise on an amount I know I am able to pay monthly without a default, and also able to at least go to work, pay for my water and lights. This is my home. I really want to save my home."

Mr Ong has written two appeals to the HDB on her behalf, but these have been rejected.

For now, Judy and her family are waiting a valuation of their five-room flat before deciding on their next step.

Mr Ong said even if Judy decides to sell her current flat, she would still be unable to purchase a smaller flat, and is unlikely to get a loan from HDB or a commercial bank due to her age.

"I cannot imagine in Singapore, where we pride ourselves in our home ownership policy that a family of two working adults supporting one elderly family member would have their HDB flat repossessed and be left homeless. What is our social compact? There are those among us like Mdm Judy Mitchell who are trying their best, working hard, wanting to be self-reliant. I believe the government should step in and give them a helping hand," Mr Ong said.

The need for a more supportive housing board was also brought up by Mr Yeo Guat Kwang, an MP for Aljunied GRC.

Speaking in Mandarin, Mr Yeo touched on the problems faced by Singaporeans who have problems selling off a bigger flat to downgrade to a smaller unit.

Saying that HDB should help Singaporeans downgrade, Mr Yeo reminded the housing board that its mission is to help Singaporeans own their homes.


- CNA/so

fatz

Singapura : 27 Februari 2008         

HDB TAWAR 494 FLAT EMPAT BILIK DI PUNGGOL SPRING

LEMBAGA Perumahan dan Pembangunan (HDB) semalam melancarkan penjualan 494 flat empat bilik di Punggol Spring.

Terletak bersebelahan Sekolah Menengah Punggol dan tidak jauh dari stesen LRT Damai, Punggol Spring projek Bina Ikut Tempahan (BTO) pertama HDB tahun ini.

Dalam satu kenyataan semalam, HDB berkata estet perumahan Punggol Spring juga berdekatan dengan Pusat Bandar Punggol yang bakal mempunyai stesen MRT dan pusat pertukaran bas.

HDB merancang juga untuk membina sebuah pusat makanan, pasar raya serta beberapa kedai di kawasan itu.

Flat empat bilik di Punggol Spring seluas antara 92 dengan 97 meter persegi dan berharga $204,000 hingga $259,000 sebuah.

HDB telah meningkatkan program pembinaan flat sejak tahun lalu dan bekalan perumahan Punggol Spring sebahagian daripada 4,500 flat baru yang bakal ditawar di bawah BTO dalam enam bulan pertama tahun ini.

Pada penjualan flat setiap dua bulan sebelum ini, HDB telah menerima 9,900 permohonan bagi 278 flat yang ditawarkan di 13 estet matang.

Kebanyakan flat yang ditawar adalah jenis empat bilik, selain 64 flat lima bilik dan 20 flat eksekutif.

HDB menasihatkan pemohon yang gagal dalam program-program penjualan lalu agar menimbangkan tawaran di Punggol Spring serta beberapa projek BTO di bandar-bandar baru lain, di mana lebih banyak bekalan dapat menawarkan pilihan lebih luas kepada pembeli.

'Walaupun harga jualan semula telah meningkat sepanjang tahun lalu, masih ada banyak pilihan flat jualan semula yang boleh memenuhi bajet kebanyakan pemohon.

'Dalam Januari 2008, 25 peratus daripada urusan jualan semula flat melibatkan harga tidak melebihi $10,000 di atas nilai pasaran. Ini termasuk urusan di estet matang seperti Ang Mo Kio, Bedok, Tampines dan Yishun,' kata HDB.

lyza2474

nak tanya skit... my hubby dpt offer kat s/pore - changi area tp rumah kena cari sendiri  .. ade tak sesape tau rate kat sana ?

Ratu_Lybeau

Originally posted by lyza2474 at 28-2-2008 12:45 PM
nak tanya skit... my hubby dpt offer kat s/pore - changi area tp rumah kena cari sendiri  .. ade tak sesape tau rate kat sana ?

Pretty costly sekarang kan

deaf4ever

Originally posted by lyza2474 at 28-2-2008 12:45 PM
nak tanya skit... my hubby dpt offer kat s/pore - changi area tp rumah kena cari sendiri  .. ade tak sesape tau rate kat sana ?

kalo ko kenal sapa2 kenal sapa2 nak sewakan bilik ke whole unit kat tampines ke pasir ris ke bedok ke chai chee ke ok la, kalo tak,
ko gi nengok straits times atau berita harian nye classified bahagian renting tu, ko gi tanya.
tapi skarang rents tengah naik kat sg aku rasa.
Ni aku cakap untuk estet perumahan awam ler, heartlanders nye rumah

fatz

Extra $10k for each household under HDB Lease BuyBack scheme

DETAILS of the new HDB Lease BuyBack Scheme (LBS), which will be implemented next year, were revealed by Minister for National Development, Mah Bow Tan in Parliament on Thursday.

First announced by Prime Minister Lee Hsien Loong during last year's National Day Rally, the scheme aims to help low-income, elderly households monetise their HDB flats to meet their retirement needs.

The LBS scheme will benefit households living in smaller flats who need help, as they are unable to take advantage of existing schemes to monetise their HDB flats, such as downgrading to a smaller flat, buying a Studio Apartment or subletting a room.

Under the LBS, HDB will purchase the tail end of the flat lease from the household.

On top of the housing equity unlocked, HDB will provide an additional $10,000 subsidy.

Out of the total amount, $5,000 will be given to the household as an upfront lump sum, while the remainder will be used to purchase a CPF Life Plan to provide the owner with a monthly stream of income for life.
The household continues to stay in their flat, which will be left with a 30-year lease.

Monthly Income
The amount of monthly income that an elderly household will receive from the LBS will depend on the market value of the flat, and the amount of remaining lease.

A longer remaining lease will yield a higher monthly income because more housing equity can be unlocked.

The monthly income will also differ by age and gender of the lessee based on the terms of CPF Life.

Take for example, a three-room flat with a remaining lease of 70 years and a market value of $200,000.

Under LBS, HDB will buy back 40 years of the lease at $87,000, and provide a top-up of $10,000 in government subsidy.

From the $97,000, the elderly household will receive $5,000 upfront. This leaves $92,000 remaining to purchase a CPF Life Plan that yields a monthly payout for life.

From this $92,000, a woman lessee who joins the LBS at 62 will be able to obtain a monthly payout of about $460 for life; while a man who joins the LBS at 62 will be able to obtain a monthly payout of about $490 for life.

If the flat is jointly owned by an elderly couple (both 62), they will get individual CPF Life plans. The combined monthly income from LBS is about $490.

Eligibility Conditions
To be eligible for the LBS, the following conditions must be satisfied:

The household must be a citizen household living in a three-room or smaller HDB flat.

All lessees must be at the CPF draw-down age (currently 62-years old) or older, and the household must not have enjoyed more than one housing subsidy in the past.

The household must not have previously owned a four-room or larger HDB flat, or private residential property, and must have lived in their flat for at least five years.

The monthly household income must not exceed $3,000, and the household must not have any outstanding loan on their flat that exceeds $5,000.

Some 25,000 households are likely to qualify for the LBS. This is 70 per cent of all elderly households in two-room and three-room flats.

The 30-year lease term is non-transferable. If the lessee wishes to terminate the lease prematurely, he can return the flat to HDB and receive a refund for the residual lease pro-rated on a straight-line basis.

If the lessee outlives the 30-year lease, HDB will look into the circumstances of each case to determine the appropriate housing arrangement for them, if they are unable to pay for lease extension.

fatz

Singapura : 29 Februari 2008         
         
BAHAS BELANJAWAN 2008

PEMERINTAH PASTIKAN WARGA MAMPU BELI FLAT

PEMERINTAH akan memastikan flat-flat HDB kekal mampu dibeli oleh semua warga Singapura, terutama pasangan muda yang membeli flat kali pertama.

Menekankan demikian di Parlimen semalam, Menteri Pembangunan Negara, Encik Mah Bow Tan, berkata pemerintah telah membelanjakan secara purata $1.4 bilion setiap tahun dalam bentuk subsidi bagi flat-flat awam.

Bagi tahun ini, $1.6 bilion telah diperuntukkan.

Memberi perangkaan, Encik Mah menambah, dengan subsidi pemerintah dan geran pemerintah serta kadar faedah yang rendah, pembeli kali pertama menikmati subsidi sehingga $88,000.

Dalam pada itu, Encik Mah juga mengumumkan HDB akan melancarkan lagi 4,500 unit flat jenis Bina-Ikut-Tempahan (BTO).

Ini merupakan tambahan kepada 6,000 flat BTO yang dilancar tahun lalu.

Flat-flat ini bakal dibina di kejiranan-kejiranan baru seperti Punggol dan Sengkang.

'HDB akan melancarkan lebih banyak projek BTO di estet-estet baru, tapi sebahagian besar flat itu perlu ditempah sebelum HDB membinanya.

'HDB juga prihatin untuk tidak membina terlalu banyak flat.

'Jika ini berlaku, mereka yang telah membeli flat baru hari ini akan mendapati masalah menjual flat di pasaran terbuka kelak,' ujar beliau.

Merujuk keprihatinan beberapa Anggota Parlimen (AP) yang bimbang tentang bekalan flat HDB, Encik Mah berkata masih terdapat sekitar 700 unit flat bagi projek BTO di Punggol dan Sengkang yang belum ditempah.

Menggulung ucapannya, Encik Mah menekankan sekali lagi pemerintah komited untuk membantu pasangan muda yang ingin mendapatkan rumah untuk membangunkan keluarga mereka.

Menurutnya, pasangan yang menempah flat BTO diberi lebih peluang dalam undian.

Malah, 90 peratus daripada flat-flat baru HDB dikhususkan untuk pembeli kali pertama.

fatz2

March 5, 2008         
'Magic dollars' scam lets HDB flat sellers pocket cash
They declare a lower price, thus keeping the difference instead of returning funds to CPF
By Jessica Cheam

A NEW scam involving HDB flats has surfaced, this time allowing flat sellers to pocket extra cash by craftily getting around the rules.

The so-called 'magic dollars' scam involves reporting a falsely low sale price to the HDB - an offence which is punishable by a jail term and/or a fine.

Agents say they are seeing these cases pop up on a more regular basis, but it is not rampant yet.

This is how it works.

The seller is typically a flat owner who bought his HDB flat at the peak of the last property boom, so he has made significant paper losses despite the recent run-up in prices.

If he sells the flat, the proceeds may be barely enough to cover the balance of his mortgage and any leftover will probably have to go back into his CPF account. So he ends up not getting his hands on any ready cash at all.

To pocket some cash or what is sometimes known as 'magic dollars', he strikes a deal with the buyer of his flat.

He gets the buyer to agree to declare to the HDB that the flat was sold for a much lower price. The buyer then pays the difference between the actual and declared price to the seller in cash.

To sweeten the deal, the seller usually gives the buyer a discount on the market value of the flat.

The scam is crafty because, on paper, these transactions can look flawless and are hard to detect.

Privately, the agent drafts a 'letter of undertaking', binding the buyer to pay the seller cash - sometimes under the pretext of paying for furniture and fixtures.

When the buyer pays up and the deal is done, the agent destroys the document and any paper trail. Neither the HDB, property agencies or lawyers will ever see it.

Everyone is a winner. The buyer gets a good deal and the seller gets some cash. But the catch is: The scam carries a jail term and/or a fine.

The deal is illegal because the seller is indirectly siphoning off money in advance from his CPF.

The HDB told The Straits Times that it was a 'serious offence' to declare false resale prices, adding that if there was sufficient evidence, the case would be referred to the police.

Conviction could bring fines of up to $5,000 or jail of up to three years.

Such scams are not new to the market and HDB flat owners sometimes resort to them when they want to unlock cash.

In 2001, a 'cash-back' scheme was exposed, which involved over-declaring the agreed selling price.

It allowed the buyer to get a higher loan either from a bank or the HDB, with the 'extra' cash divided out among those involved.

Agency bosses told The Straits Times that they strictly discourage agents from handling these sales.

But despite the risk of getting caught, agents say such deals are popular in estates such as Simei, Pasir Ris and Bishan, which commanded high prices in the previous boom.

Some say the deals started surfacing as early as last April, when the HDB market started to pick up.

Resale prices rose 17.5 per cent last year after years in the doldrums, prompting more flat owners to think about selling their flats.

An agency boss, who declined to be named, has heard of up to 30 such cases.

PropNex chief executive Mohamed Ismail said it was hard to determine exactly how many such deals are being done, but he estimated that about 80,000 - or 10 per cent - of HDB homes are still in negative equity.

Negative equity means a flat owner's mortgage is worth more than the home's value now. Owners of these flats are more likely to take part in such deals.

Another agent said he is approached at least once a month to take part in such deals but he turns them down. 'This is my rice bowl. Why would I want to risk going to jail for just a sale?' he said.

[email protected]

fatz2

New housing grant to encourage singles to live with parents
By Asha Popatlal, Channel NewsAsia | Posted: 05 March 2008 1948 hrs
  
SINGAPORE: There will be a new financial incentive to encourage singles to live with their parents.

Minister-in-Charge of Ageing Issues Lim Boon Heng disclosed this in Parliament on Wednesday when he responded to concerns raised by MPs over the needs of lonely elderly.

Over the last few years, the Housing and Development Board (HDB) has built studio flats for the elderly who still want to stay within the community.

But now, there will be a new initiative which will benefit not just the elderly, but also their unmarried children.

Currently, families get a S$40,000 grant if they purchase a resale flat near their parents or with their parents. A similar scheme will be extended to singles but only if they live with their parents.

Mr Lim said: "The HDB will introduce a similar scheme for singles who buy a resale flat and live with their parents. Eligible singles will now get an additional S$9,000 grant or a total of S$20,000 if they choose to buy a resale flat to live together with their parents."

Presently, singles aged 35 and above are only eligible for an S$11,000 housing grant for a resale flat in any location. HDB will announce details of this new scheme at a later date.

The move is one of several new measures to make life better for senior citizens, with day care centres being another place where the elderly can enjoy social interactions.

Transport subsidies for trips to these centres would be introduced in the second half of this financial year. Currently, such trips cost about S$150 per person a month.


- CNA/so

fatz

March 8, 2008         
Former HDB Centre is bustling once more


It is boom time again in Bukit Merah after the former HDB hub, which went a-begging for tenants, is now fully occupied. -- ST PHOTO: WANG HUI FEN

BUKIT Merah Town Centre is no longer a ghost town.

Ask Ms Florence Chan who used to park her car at the third level of the multi-storey carpark there.

These days, she can find a vacant lot only at level nine.

The administrator of Covenant Evangelical Free Church, which has its offices in Connection ONE, says it is just one indication that good times have returned to the area.

Come lunchtime, hordes of office workers pour out from the five buildings of Connection ONE, formerly known as the HDB Centre, and head for the eateries nearby.

It is a far cry from the situation two years ago when one third of the 764,000-sq-ft office space sat empty.

It was even worse in 2002. That was when the HDB relocated its headquarters to its current premises in Toa Payoh.

This relocation was a big blow to the food eateries and other retail businesses in Bukit Merah which had profited from the big number of people who visited the HDB Centre daily.

The HDB initially could not find enough tenants to fill up all the space it vacated. Its spun-off building consultancy Surbana Corporation, previously called HDB Corporation, moved back in 2003.

Fast-forward to 2008 and it's a different story.

HDB said the complex was fully let out from September last year. The tenants include hospital groups, private schools, a church group and a betting centre.

The HDB believes the competitive rental rate is one of the factors. 'In fact, we still receive many enquiries for office space,' said a spokesman.

fatz

March 10, 2008         
New version of deferred payment now on offer
By Fiona Chan, Property Reporter

IN A bid to tempt home buyers back into the cooling property market, banks are teaming up with developers to bring back deferred payments - or something like it.

They are resurrecting an older scheme known as interest absorption, which also allows buyers to postpone the bulk of their payments on new homes.

This decade-old plan had been phased out over the last few years in favour of the more popular deferred payments. But it is now making a comeback after the Government pulled the plug on deferred payment plans in October, saying they encouraged speculation in the then red-hot property market.

Interest absorption works like this: a buyer makes a down payment, typically 20 per cent, and can then defer the rest of the payments until the property is completed.

It may sound like deferred payment, but here's the catch: The homebuyer has to take up a bank loan at the point of purchase, with a specific bank that has tied up with the developer to offer the scheme.

This means that if the homebuyer wants to resell the property before completion, he will have to pay a penalty to redeem or cancel the loan.

In contrast, the deferred payment scheme did not require a buyer to take a loan until the home was fully built. This was thought to encourage speculation, as a potential speculator could buy and resell many unbuilt homes without taking a single loan.

Loan aside, interest absorption plans offer two extra deal sweeteners. First, the project developer will absorb the interest payments on the home loan until completion - hence the name of the plan.

Depending on the loan amount and tenure, this could work out to a few tens of thousands of dollars.

Another perk is that most units sold under interest absorption schemes do not cost more than those sold under normal payment plans. Developers used to charge slightly more for units that were sold with deferred payment.

Industry experts say interest absorption plans were introduced in the late 1990s to spur home buying in the downturn. Back then, not all the plans had a deferred payment component - in some, developers simply absorbed interest until completion.

Read the full report in Tuesday's edition of The Straits Times.

fatz

March 10, 2008         
MPs seek steps to prevent 'magic dollars' flat scam
Greater flexibility in HDB loan rules for downgraders may help, say some
By Jessica Cheam

THE emergence of a new scam by HDB flat sellers has prompted calls by some MPs for a review of loan rules for flat downgrading.

Housing agents say sellers who resort to the so-called 'magic dollars' scam often face financial difficulties and may be having a hard time in downgrading to cheaper flats.

Some MPs noted that greater flexibility in downgrading rules could help these people.

Property agents have recently seen an increase in deals where the seller and buyer collude to under-declare the sale price to the Housing Board.

The buyer pays the difference between this and the real price to the seller in cash, often in return for a discount.

These sellers are likely to have bought their homes at the previous market peak, leaving the flat in negative equity, where the mortgage is more than the property's value.

This means that any sales proceeds will go towards repaying the seller's loan and the money taken from the Central Provident Fund (CPF).

This would leave him with no cash in hand.

The scam provides vital extra cash - indirectly from the seller's CPF monies - in a buoyant HDB market with high resale prices.

Some families struggle to fork out the cash amount over and above a flat's valuation.

Read the full story in Tuesday's edition of The Straits Times.

fatz2

Singapura : 13 Mac 2008        
         
PUNGGOL SPRING

PERMOHONAN JAUH MELEBIHI BEKALAN

Oleh
Nazri Hadi Saparin

PROJEK Bina-Ikut-Tempahan (BTO) pertama HDB tahun ini, Punggol Spring, mendapat respons menggalakkan daripada pembeli flat.

Lebih 2,190 permohonan telah diterima bagi 494 flat empat bilik yang ditawarkan itu walaupun permohonan ditutup hanya Isnin ini.

Flat berharga antara $204,000 dengan $259,000 sebuah itu adalah antara 4,500 flat baru yang akan dibina HDB dalam enam bulan pertama tahun ini.

Permohonan melebihi bekalan itu selaras dengan permintaan menggalakkan bagi flat-flat lain HDB yang dijual dua bulan sekali.

Misalnya, sekitar 10,000 pembeli memohon 278 unit yang ditawarkan bulan lalu.

Diminta mengulas mengenai Punggol Spring, jurucakap HDB berkata walaupun sambutan bagi projek itu hangat, beberapa projek BTO lain masih mempunyai bekalan flat yang belum dijual, seperti di kejiranan Sengkang, yang berjiran dengan Punggol.

Memberi contoh, beliau berkata projek BTO flat empat bilik di Coral Spring, Sengkang, masih mempunyai sekitar 200 flat daripada 698 yang ditawarkan setelah tarikh permohonan ditutup pada 24 Januari lalu.

'Mereka yang mencari flat boleh menikmati peluang lebih baik jika mereka meluaskan pencarian dan menimbangkan untuk membeli flat di bandar-bandar baru seperti Punggol dan Sengkang, yang mempunyai lebih banyak projek baru HDB,' kata jurucakap itu.

Pengarah Bersekutu Kanan firma hartanah PropNex Realty Pte Ltd, Cik Dayangku Rozarita Jais, berkata Punggol Spring mendapat sambutan hangat kerana ramainya pembeli kali pertama dan pasangan muda yang mahu membeli flat di sana.

Menurut beliau, golongan itu tidak mempunyai wang tunai mencukupi untuk membeli flat di pasaran jualan semula, yang kini kebanyakannya memerlukan pembeli membayar wang tunai di atas harga taksiran (COV).

'Pembeli kini lebih peka dan tidak sanggup membayar COV tinggi, tidak seperti keadaan beberapa bulan lalu,' ujar beliau.

Di Punggol, misalnya, COV bagi flat empat bilik jualan semula boleh mencecah sekitar $20,000, menurut Cik Dayangku Rozarita.

Namun, menurut HDB, meskipun ramai prihatin terhadap COV, sekitar 25 peratus daripada flat jual semula bulan lalu sebenarnya dibeli pada COV kurang daripada $10,000.

SQ154

Some HDB residents unhappy despite freeze on S&C charges

THE 14 town councils under the People's Action Party are all freezing their service and conservancy (S&C) rates, but some HDB residents still feel the charges are too high.
Mr Richard Lim, 42, lives in a five-room flat in Pasir Ris, but pays more for parking and maintenance charges than some condominium residents.

The accountant pays $163.50 a month: $90 for parking and $73.50 in S&C fees.

What residents in private estates pay can go as low as $150, a check with 10 condominiums found.

Mr Lim said: 'My friend who lives in a similar-size unit in a Bishan condo pays $200 and he gets so many more facilities.'
Writing to The Straits Times Forum recently, he asked why, despite fewer perks, HDB residents pay more than some condo residents: 'Are they overcharging residents or are they not giving enough value for the amount we pay?'

His letter ignited discussions in at least three online forums, with many asking why S&C charges for HDB flats were only a little lower than those for private estates.

In Parliament last month, Dr Teo Ho Pin, coordinating chairman of the PAP town councils, announced there will be no hike in their S&C charges this year.

The move is in response to Finance Minister Tharman Shanmugaratnam's call recently for them to follow the Government's lead in freezing fees for its services.

S&C rates for Singaporeans living in public housing can range from $18.50 for a one-room HDB flat to $61.50 for a five-room unit. Non-Singaporeans pay up to $30 more.

S&C charges in HDB estates are collected by the town councils and go towards cleaning, grass cutting, lift maintenance and upkeep of common areas. Costs for cyclical work such as re-painting are also taken from this kitty.

A public housing resident who owns a car has to pay between $65 and $90 for a parking spot. This, according to HDB residents, is what causes the overall charge to rocket.

Parking charges are collected by the HDB which maintains the carparks.

In a Forum letter replying to Mr Lim, the HDB explained that, unlike private property, HDB parking spaces are not included in the selling price of the flat.

It said: 'HDB parking charges are aimed at recovering the cost of providing and maintaining the carparks and help regulate demand so residents need not compete with visitors for lots.'

Mr Lim is now looking for a condo unit since the charges are not that much higher and he can enjoy condo facilities such as a swimming pool, clubhouse, playground, barbecue pit, gym, carpark and security for just a bit more.

Most condos charge a monthly fee of about $250, although some, like Ardmore Park near Orchard Road, can go as high as $1,250.

Those which charge below $200 include Normanton Park, Gillman Heights, Farrer Court and The Warren.

Condos usually collect money for a sinking fund, which is used for major repairs and improvements to the estate such as lift upgrading and re-painting.

Dr Teo, MP for Bukit Panjang, assured HDB residents that what they pay in S&C fees is 'definitely value for money'.

'We've many more covered linkways than condos and also amphitheatres and playgrounds,' he said.

He added that the Government gives a grant every year to top up the S&C fund, making major projects like lift upgrading affordable.

Mr Charles Chong, an MP for Pasir Ris-Punggol GRC, said charges for condos are higher than for HDB units because condo residents pay more upfront when they buy their homes.

'Besides, condos could also ask residents to fork out lump sums for major repairs when the sinking fund isn't fat enough,' he said.

Ms Eleana Teo, a director at Knight Frank Estate Management, said condos with more units can enjoy economies of scale and charge more affordable fees.

At Farrer Court, near Holland Road, which has 618 units, administration officer Mary Teo, 58, said the $160 a month she pays is 'very low'.

'We get our own jogging track, tennis courts and gym, and I'm paying less than some HDB residents,' said the owner of a 1,500 sq ft unit.

Information technology specialist David Seah, 30, who lives in a five-room flat in Jurong West, agreed S&C and parking fees for bigger HDB units can add up to a hefty sum.

He pays $153 a month - $63 in S&C fees and $90 for parking.

'The S&C charges for smaller flats are much lower and I think it's fair,' he said.

Mr Simon Chua, 34, owner of a four-room Bukit Batok HDB flat who pays $138 in monthly charges, has no complaints.

'We never have to worry about having to fork out extra money for major upgrading work. I think we are well taken care of for the money we pay,' he said.