Prices of HDB flats at record high in Q4 2009

Posted by admin | HDB News | Monday 18 January 2010 2:29 am
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Prices of Housing and Development Board (HDB) flats are at their highest on record.

According to preliminary estimates from the HDB on Monday, the Resale Price Index of public flats stood at 150.7 in the fourth quarter of 2009 – highest on record since data was compiled in 1990.

Estimates show that prices of resale flats rose 3.8 per cent in the last three months of 2009, the fastest pace of growth since the third quarter of 2008. For the whole of last year, prices of resale flats rose about 8 per cent.

HDB said flat buyers can look forward to 1,300 build-to-order (BTO) flats in Choa Chu Kang and Hougang, which will be offered for sale on Tuesday.

The housing board said it will continue to launch more BTO projects this year if there is sustained demand for new flats, and will ensure that there is an adequate supply of flats to meet prevailing housing needs.

The HDB is due to release detailed resale price data and public housing data for the fourth quarter on January 22.

Source : Channel NewsAsia – 4 Jan 2010

Courtesy of HDB Property News

HDB flat owners required to register tenants’ details

Posted by admin | HDB News | Friday 15 January 2010 3:53 pm

HDB flat owners who sub-let rooms in their flats will, from next month, have to register with the Housing Board within seven days of doing so.

They are also required to notify the HDB when they renew or terminate the sub-letting of rooms, and when there are changes to their sub-tenants’ particulars.

While there has been no need to seek prior approval for sub-letting of rooms, the latest move supports ongoing efforts by the Home Affairs Ministry to eradicate loan-sharking activities, and comes amid changes made to the law to better deal with the problem.

The HDB noted in a statement yesterday that some people used their old addresses to borrow from loan sharks while they rented a room in another HDB flat.

This resulted in the new occupiers of the flat being harassed by loan sharks instead, while the borrowers were untraceable as they moved without updating their addresses.

‘Through this new rule, HDB will be able to capture the particulars of those who rent rooms in HDB flats. With information on the addresses of owners and subtenants, the Ministry of Home Affairs will be able to trace the movements of borrowers,’ the statement said.

In Parliament yesterday, Associate Professor Ho Peng Kee, who is Senior Minister of State for Law and Home Affairs, said the move will make it harder for borrowers to remain untraceable when they rent a room in an HDB flat.

In tandem with the HDB’s move, the National Registration Act and Immigration Act will also be amended to empower the Immigration and Checkpoints Authority to obtain information from the HDB to administer and enforce the new requirements more effectively.

Source : Straits Times – 13 Jan 2010

Courtesy of HDB Property News

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