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Singapore website designer Building a website can be both jointly and easy limited the hard nut to crack of the site; there are some final notice that move aid from experts that will bolster in the diamond in the rough society of the site.

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Major Shakeup Coming For Singapore Public Housing

Revealing First Ever Media Interview of New MND Minister

hdb-bto-launch-2016Tending to the regular grumbling of home buyers having to wait up to 4 years for a HDB BTO, MND Minister Lawrence Wong said for now, the authority can only realistically shorten waiting period by 1 year. It’s important to understand that not all BTO launched can be applied the same rushed scheduling.

In Singapore, HDB BTO flats are reserved in batches preceding actual development. Due to the undersupply of residential units in Singapore, such launches are normally completely booked notwithstanding the long wait of 4 years.

The minister also touched on the topic of HDB owners selling their flats for sizeable windfall profits. It is suggested that there will be new tweaks in policy to mitigate such profit sales, which he likened to striking a lottery for the owners.


Takeaway for HDB Owners 

Most notably, there are considerations over extending the current Minimum Occupation period beyond 5 years and the possibility of reducing 99 years leasehold of HDB flats.

Also, potential executive condominium buyers may want to know that the ministry is also exploring making changes to resale levy. One likely scenario is to increase the levy amount. This change is expected to impact HDB owners looking to upgrade to EC. Current maximum liable resale levy is up to $55,000 depending on the HDB type.

bellewoods ec no resale levy
Bellewoods is one of the last batch of EC with no resale levy for 2nd timers (HDB upgraders)

A levy hike would seriously diminish HDB owners’ opportunity cost by having to fork out the sizeable amount for upgrading to a new executive condominium (EC). EC has become a popular property investment of choice for its attractively low entry price and potential upside owing to its eventual status as a fully privatised condominium after 5 years.

According to an analyst, this impending policy change signals that now is the best time for HDB upgraders to go ahead with their plans to buy EC, before uncertainty sets in. How this will impact the sales of several ECs with no resale levy remains to be seen in next 2 months.