Housing and Development Board (HDB) to release 2 Executive Condominium sites

Housing and Development Board (HDB) to release 2 Executive Condominium sites

Are you interested in buying an Executive Condominium?? If yes then you have very good news because for more development in Singapore the Housing and Development Board has declared that two Executive Condominium (EC) sites are for sale and it is mentioned in the confirmed list of the 2010 Government Land Sales Program. These two housing units are very important because these will offer property buyers more housing choices and better places to live. HDB also mentioned that these sites are available on a 99-years lease.

Before going to the mentioned EC sites it would be better to know about the background of HDB and what an Executive Condominium is.

The Housing and Development Board (HDB) is a legislative board of the Ministry of National Development in Singapore and it is responsible for public housing. Singapore faced a serious problem of housing shortage just after its independence. In response, the government made Housing and Development Board. Due to high density of population HDB decided to make flats in the country. More than 80% of Singapore population lives in HDB flats, means almost all the housing development in Singapore is done or monitored by HDB.

Condominium can simply be defined as an “apartment” that the resident “owns” rather than rents and executive condominiums are for those young graduates and professionals who want a better place than HDB flats. In other words ECs are luxurious condominium.

Now going towards the sites, the first new EC site which was mentioned by HDB is located in Tampines Town. It site has an area of more than 20,000 square meters and its gross floor area would be more than 57,000 square meters. Tampines Town is the largest residential area of Singapore and is located in the East Region of the main island. Like other districts in Singapore, it is a densely populated district and home to different group of different races. Many facilities such as schools, supermarkets and swimming complex are available near this site. The tender for this site will be closed at noon on November 23.

The second Executive Condominium is located in Bukit Panjang Town; Bukit Panjang Town is present in the west of Singapore . A portion of this town is situated on a low lying and extended hill, this site is next to Segar LRT station, which connects to Choa Chu Kang MRT station. The area of this site almost 21,000 square meters and its gross floor area is around 62,5000 square meters. The tender for this site will be closed at noon on December 2.

In addition to these two sites, HDB said two new residential sites at Punggol Central and Seletar Road are also going to be released later this month. Seletar is an area of Singapore within its north east region and Punggol is also a very important area of Singapore. So hopefully leasing of these sites will be the first step for those young Singaporeans who want to have good and separate residence in important areas of the country.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

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Property Seeks Silver Lining of Sales »« Singapore’s Open Door Policy to benefit Singaporean Citizen in the Long Run

Singapore’s Open Door Policy to benefit Singaporean Citizen in the Long Run

Singapore’s Open Door Policy to benefit Singaporean Citizen in the Long Run

PM Lee Hsien Loong addressed the National Day Rally at University Cultural Centre. Apart from many other agenda points, he spoke at length about the Permanent Residents (PRs) in Singapore and associated policy matters.

Singapore is home to more than 500,000 PRs. They are playing a very constructive role in the economic development of Singapore. However, Singapore has a stringent policy restricting the privileges to PRs. They are not entitled to own and drive cars, they cannot own private property and cannot obviously get a HDB house either. However, recently Government has decided to allow PRs to buy flats in condominiums. It has triggered a hike in the private property prices to the unhappiness of many citizens.

PM Lee Hsien made it a point to clarify his Government’s stance on the issue. He informed the audience that government has already in the process of taking steps to bring the prices down. He also talked about the open door policy to allow immigrants to come and work in Singapore. It was going to benefit the citizen in the long run, as immigrants will have to leave one day. Moreover, PRs were also helping Singapore control her shrinking workforce and population. Singapore attracts more than 100,000 foreigners annually. But, PM said, it was a policy which need reappraisal, since many citizens were feeling threatened by reduced employment opportunities.

He assured the audience, that rights of citizens were to be preserved at all costs. However, he commented that it was not feasible to shut the door altogether. Singapore may restrict the inflow but disallowing it completely will not benefit citizens. He gave examples of fresh investment in private properties and other business which were creating more revenue and cash inflows for government as public alike. Now government can levy more taxes to be used on the betterment of public. Therefore, he informed that Singapore was likely to remain open to foreign talent albeit allow reduced numbers.

PM Lee also spoke about the policy of his government to facilitate citizens to apply for and get HDB houses at facilitated rates. Middle and low income groups were now to be allowed to participate in DBSS. He announced that government will give S$ 30,000 to citizen to own their houses at appreciating costs to benefit the citizens in the long run.

Mr Lee informed those present at the Rally that his government was going to contribute S$400 million into Workforce Income Supplement for low wage citizens. PM announced the launching of National Service Recognition Award to award S$ 9000 in instalments to National Servicemen during their service to assist them in education and housing expenses.

In the end, PM Lee told his audience that he was ordering the establishment of Population and Talent Division to be headed by Deputy PM. The main purpose of this division will be to oversee and handle the foreign talent, immigration policies and population matters. This initiative will help the government in designing and implementing policies which are beneficial to the citizens through open door policy.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Housing and Development Board (HDB) to release 2 Executive Condominium sites »« Premier for Regular Reviews of FTA to Gain from Growth of China

Premier for Regular Reviews of FTA to Gain from Growth of China

Premier for Regular Reviews of FTA to Gain from Growth of China

Singapore and China share many common interests and goals. Both the countries have entered into Free Trade Agreement (FTA) to benefit mutually from each other. Both the countries have had now 20 years of diplomatic relations and have covered indeed many distances in facilitating economic, cultural and diplomatic ties between both the countries.

China has one of the highest growth rates in the last four decades. China is now diverting the development trends away from her coastal cities. Central China cities have been given the priority to focus on their industrial and infrastructural development. Singapore is seeking to gain from this experiment and experience. Singapore is also seeking to gain better share of tourism from china.

Last one year has seen active diplomatic exchange visits. Highest levels of visits from both countries have forged even deeper friendship between both the countries. Last year China’s President paid an official visit to Singapore. Now Premier of Singapore is scheduled to visit five central China cities to further enhance the economic ties between both the countries. PM will also launch the Tasty Singapore festival to attract more private visits from common Chinese for Singaporean cuisine.

PM Lee has emphasized regular reviews of FTA for the mutual economic benefits of business communities in both the countries. He said that whatever, concerns and suggestions business men have, they should be analyzed for inclusion in FTA. It is through mutual gain that people of both the countries can reap maximum benefits from economic ties.
He also sought to encourage the youth of Singapore to develop stronger friendships with Chinese youth to foster long lasting friendships.

PM Lee‘s visit is also coinciding with the eve of World Expo. Therefore, he has made it convenient to make a special visit. He will be accompanied by his spouse as well as many ministers and officials from trade, commerce and foreign ministries. He will interact with Chinese Government functionaries in the Capital and other cities. He is also planned to meet Singaporean businessmen working in China to learn about their problems and seek proposals for their redress.

PM has emphasized on greater mutual consultations and sought a role in china’s ever increasing growth. His key theme was that by helping China, Singapore can also gain benefits for her development. He is likely to discuss with his Chinese counterparts the prospects to enhance his country’s role in this aspect.

China is witnessing a rapid growth due to her investment friendly policies and successful measure to limit the effects of global recession. As a matter of fact, many had feared the spill over of European and American economic woes onto China’s galloping economy. But it was seen with relief that reduced demand from these continents did little to affect China’s economic growth rate. Her neighbours are increasing seeking to benefit from the policies of China. PM Lee’s visit is all the more important in this backdrop. Interestingly, Singapore Government is not likely to seek concessions in the FTA agreement between both countries three years ago, rather it intends to assist China in her quest and in the process attain economic gains.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Singapore’s Open Door Policy to benefit Singaporean Citizen in the Long Run »« Neighbourhood Renewal Plan Empowers Residents through Participation in Communities’ Development

Neighbourhood Renewal Plan Empowers Residents through Participation in Communities’ Development

Neighbourhood Renewal Plan Empowers Residents through Participation in Communities’ Development

It was year 2007 that Housing Development Board started this brilliant plan. Neighbourhood Development Plan or NRP, as it is commonly known here, is a unique, brilliant and well-conceived idea. It has received wide spread accolade from all residents of communities that have already gone through this phase or which are planned to be improved in near future. The improvement plan of towns has given requisite facelift to many residential schemes to the approval and satisfaction of residents.

The NRP is designed to seek greater and active participation of residential community members’ for this plan. Residents are asked to furnish their proposals for inclusion of certain facilities and structures for the whole community. These proposals are included in the development plan if 3/4th of total residents support it. Previously, many such communities had opted to propose soccer pitches and paved footpaths etc. Moreover, residents are encouraged to suggest those improvements which aim at collective uplift rather has limited applications and utility.

This NRP is quite different than Main and Interim Up-gradation Plans in two ways. In previous plans residents were required to bear the cost of up-gradation works, e.g. if a resident wanted a porch, or a window to be incorporated in his house he was required to pay the cost. Similarly, they could then, suggest individual improvements in their respective houses. However, this new NRP now is to be borne by the government and not a single penny will be demanded of the residents. Similarly, individual plans are not proposed and adopted. This plan is exclusively for neighbourhood improvement. People collectively propose cycling track, a swimming pool, car parks, parks, and pedestrians’ tracks etc. Residents are required to submit their proposal during town hall meetings, door to door surveys and or filling in forms at the offices. These are then deliberated upon; cost effects are calculated and presented to the community for formal acceptance based on agreement by the majority of residents favouring the project.

It is presently planned to be completed in three years starting in 2010. More than 50,000 residents are estimated to benefit from present plan. However, another 150,000 will be afforded this opportunity by the end of project in in next three years. It is likely to cost around $120 to government exchequer. Average expenses per house are estimated to be to the tune of $3400. However, the resultant uplift is worth the expenditure. Residents are reported to be extremely enthusiastic about the plan and have already started discussing potential projects to propose to the management.

HDB, the main organ responsible to build and supervise housing projects is overseeing this plan as well. Authorities at HBD are very positive about such participation by the community members. They are supportive of this idea and follow the proposals very seriously. Officials encourage a wider participation of the residents to learn about their priorities. A reasonable time frame is given to the residents to ponder over and mutually discuss the probable projects. Government intends to repeat this model in other parts on the island due to its usefulness and high approval rates.

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Premier for Regular Reviews of FTA to Gain from Growth of China »« A Grand Opening For The Swanky New NV Residences

A Grand Opening For The Swanky New NV Residences

A Grand Opening For The Swanky New NV Residences

The opening of NV Residences, the newest and most hi-tech, luxurious condominium apartments was a much anticipated event which lived up to its expectations in every way possible.

The NV Residences became the centre of entertainment in Singapore as crowds turned up desperate to be the first to stay in the hip new condos.

Even the wintery weather conditions did not put the crowds off. Queuing in the rain with cheques for large sums of money and an eager desire to see inside the beautifully constructed condos, revellers were full of bright spirits, despite the downpour.

With the devastating state of the financial market finally picking up and the world slowly pulling itself out of the slump. The huge interest left only 40 condos out of a total of 200 still available in the previewing session. There is no doubt that the additional apartment units will be snapped up too.

The NV Residences does not simply offer a home. It offers an ultra hip, trendy and modern home. Based in Pasir Ris Grove, it is one of the most stylish condominium providers in the East. With a beautiful waterfront view and easy access to the city, many of the Singapore elites want to live here.

Not to be outdone by any other apartment block in the East, NV Residences offers a range of facilities to its residents, including Jacuzzis, gym, saunas and tennis courts.

In addition to the interested buyers were the many investors looking to purchase a property to let. This angered some of the potential buyers, claiming that this would lower the tone of the condos due to rented property not being cared for.

At the cost of approximately $500,000 for an apartment, it has been queried whether the investors will receive a payout on these condos. The recession is not increasing the buyer levels of housing and the prices of the condos at the NV residences will not encourage the community to rent at such extreme prices.

One new resident claimed that he was forced to lower his expectations due to the very high cash requirement when signing up for a condo. He had hoped to go for the top price apartments, however, had to lower this to a smaller flat so as to be able to provide the handover cash required.

The success of the NV Residences may have given other property developers the confidence to go ahead with their projects claims some of the professionals linked to this field. The credit crunch has made developers reluctant to put their plans into action, however, now that they have witnessed the success of NV Residences, more and more luxurious properties will be popping up in the East in the near future.

While the concerns for the housing market remains, the interest and new ownership of both residents of Singapore and investors is proving much more active than anticipated, leaving the owners of NV Residences with a great, smug smile!

Buy Sell Rent invest In Singapore Property Real Estate

Mindy Yong

( +65 ) 91002985

Mindy@MindyYong.com

www.hotvictory.com

www.property-elite.com

Neighbourhood Renewal Plan Empowers Residents through Participation in Communities’ Development »« Malls Expect an Increase in Retail Rents