Medisave, MediShield coverage may be extended

Medisave, MediShield coverage may be extended

By Hetty Musfirah Abdul Khamid | Posted: 30 January 2011

SINGAPORE: The Health Ministry will continue to explore ways to make sure healthcare remains affordable in Singapore.

This may include extending the coverage of Medisave and MediShield schemes.

The Ministry will also study how to make it easier for patients to undergo day rehabilitation programmes.

Health Minister Khaw Boon Wan raised these ideas at a dialogue session on the healthcare budget, at the Khoo Teck Puat Hospital.

During the one-and-a-half-hour session — attended by about 100 members of public — questions concerning costs for the chronically ill were raised.

One of them was if Medisave could be used for outpatient post-acute care.

“We try not to prescribe what the money can be used of, so we just say (that for) every Medisave account, you can withdraw up to S$300 per year,” Mr Khaw said.

He added that some may say that S$300 is not enough because some types of medicine are quite expensive.

“… (But) in time, I’m quite sure that we will review these limits of S$300. It can be (raised up to) S$350 or $400 in due course, but I think there is some avenue of financial capacity there, which we certainly will take a look, and if indeed it is a hindrance, we can try to help out,” Mr Khaw said.

Mr Khaw also noted that many patients have difficulty getting to day care rehabilitation centres

“Transport has emerged as one major obstacle.

“In fact last week, I just discussed with my colleagues at the Ministry of Health to study more deeply into this topic of transport.

“There is no use (in having) very good day rehab centres, but (are) not well used, or which not many people are taking advantage of.

“I believe that transport is a key factor, and I certainly want to see how this problem can be eased. And if money is an issue, right now, we subvent the day centres for providing the rehabilitation, but we do not subvent for transport claims, so that is one idea that I’m very sympathetic with.

“We may decided to (give) some financial help and then we leave it to the industry to sort itself out, because there could be taxis, who are able to go back and forth. Or, we can give the money to the day rehab centres and let them distribute to the patients,” Mr Khaw said.

And to help patients manage costs better, Mr Khaw raised the possibility of extending the insurance coverage- MediShield to those with congenital diseases or mental illness.

He said: “I think at some stage, we have to review the whole MediShield, so at the next round of review, I would really like to include congenital illnesses in it… we certainly want to include mental illness as well.

“Obviously this will have an impact on premiums, so we shall cost it and see (if the plans are) viable.

“Over the next five years, I also will like to spend some time looking at some patients with uncommon conditions”.

These patients, Mr Khaw added, may not be large in number and may include those suffering from conditions that are congenital in nature.

“But their (healthcare) costs may be very high, so I wanted to actually have a closer study on the treatment for these groups of patients,” he said.

When asked if the MediShield should be extended to those above 85 years old, Mr Khaw said there is no urgent need to do so as numbers are small.

He said those who require help can already depend on Medifund. But the idea may be viable if there is a need to do so in the future.

Mr Khaw said the overall goal is for healthcare to become more home and patient centric to meet the needs of an ageing population better.

He said the direction is to upgrade the level of care outside the hospitals.

This could be within the homes, nursing homes or community hospitals.

He added that such care is traditionally left to the volunteer welfare organisations and he said they are doing a good job.

But there is still scope for the Health Ministry to offer professional knowledge and expertise, Mr Khaw said.

-CNAwk

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

S’POREANS SATISFIED WITH THE QUALITY OF LIFE: SURVEY »« Property Price Growth Slows Property

Property Price Growth Slows Property

Property Price Growth Slows Property

by Joanne Chan

SINGAPORE – Reaffirming earlier flash estimates, official housing figures unveiled on Friday showed that the growth of property prices slowed in the fourth quarter of last year.

Prices of public flats grew by 2.5 per cent in Q4 – down from 4-per-cent growth in the previous quarter – while private home prices rose 2.7 per cent in Q4, down from 2.9-per-cent growth in Q3.

In the HDB resale market, prices grew at a blistering 14.1 per cent last year. But there are signs that it is cooling: Transaction volume fell by 21 per cent to 6,454 in the fourth quarter, while the median cash-over-valuation (COV) dropped $7,000 to $23,000.

Moving forward, analysts expect property prices in general to stabilise this year, rising between 1 and 2 per cent each quarter.

SLP International director of research and consultancy Nicholas Mak said: “The fall in COV level is an indication that Government measures announced in August last year are starting to have an effect on the HDB resale market.”

This could be why the Government did not introduce any further measures for the HDB market in January this year, Mr Mak noted.

And according to real estate firm Propnex, the COV is still falling. Propnex’s January data so far showed that median COV was at $22,000.

For the whole year, market watchers expect resale flat prices to grow between 4 and 8 per cent – which they described as healthy given that it is in line with economic growth.

The HDB has said it will also be releasing up to 22,000 new flats this year, if there is demand.

In the private home sector, prices grew by 17.6 per cent last year, compared to 2009.

The prices of landed properties saw the biggest jump of 30.8 per cent while those of non-landed properties rose 14 per cent.

Dennis Wee Group director Chris Koh said: “Landed property have always had this premium edge … The Residential Property Act also prevents foreigners from buying landed properties. So citizens know that if you were to buy a landed property, you may be sitting on a gold mine.”

Some 8,500 new and resale private homes were sold in the fourth quarter, unusually high for a traditionally quiet period.

Analysts, including PropNex CEO Mohamed Ismail, said this may have prompted the latest round of cooling measures announced earlier this month.

While the measures were likely to remove speculative activity, analysts noted that there is still sufficient demand to cause prices to go up.

CBRE Research executive director Li Hiaw Ho said he expects private home prices to remain unchanged as sellers and developers take time to review the impact of the latest property measures. However, Mr Li said sales volume could fall in the short term, as short-term investors will no longer be participating in the market.

Source : TODAYonline – MediaCorp Press Ltd’s copyright

Medisave, MediShield coverage may be extended »« Tampines Court to try for en bloc sale again

Tampines Court to try for en bloc sale again

Tampines Court to try for en bloc sale again

By Lynda Hong | Posted: 29 January 2011

SINGAPORE: Tampines Court owners are attempting an en bloc sale for the second time.

MediaCorp understands that 47 percent of the owners met on Saturday for its first Extraordinary General Meeting (EOGM).

A 12-member sales committee was also formed.

The next step is for the second EOGM to decide on the marketing agents and lawyers to handle the sale, before deciding on the valuation of the estate
which spans 702,162 sq ft with 560 units.

The former HUDC estate, which is about 26 years old, was put up for a collective sale for S$405 million in 2006.

The two-year process, however, failed as its sales committee could not meet deadlines to complete the deal by 25 July, 2008.

- CNA/ir

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Property Price Growth Slows Property »« Prices of HDB flats, private homes on the rise

Prices of HDB flats, private homes on the rise

Prices of HDB flats, private homes on the rise

By Joanne Chan | Posted: 28 January 2011

SINGAPORE: Prices of HDB resale flats rose by 2.5 per cent in the last three months of 2010, the lowest quarterly growth for the year.

This brings the full year’s price increase to 14.1 per cent.

According to the latest housing data released by HDB, the total number of resale transactions fell to about 32,260 last year, a 13 per cent drop from 2009.

The median cash-over-valuation (COV) fell to S$23,000 in the three months ending December.

The proportion of resale cases transacting above valuation remained at 96 per cent.

Private home prices rose 2.7 per cent in Q4, unchanged from the flash estimates released by the Urban and Redevelopment Authority earlier this month.

This brings the full year price increase to 17.6 per cent, compared with the 1.8 per cent rise in 2009.

Landed properties saw the biggest jump, rising by some 30.8 per cent last year.

Prices of non-landed properties, rose by 14 per cent in 2010.

The housing board has ramped up the supply of new flats to meet demand from first-time households.

It offered a total of 17,700 new flats in 2010.

This year, it plans to offer up to 22,000 new flats in areas such as Bukit Panjang, Jurong West and Punggol.

Home buyers can also look forward to flats sold under the Design Build and Sell Scheme (DBSS) and Executive Condos (ECs).

From the land parcels sold last year, there will be about 3,000 DBSS flats and 4,000 EC units.

So far, developers have launched four EC projects, and another four will be put up for sale in the coming months.

-CNA/ac

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Tampines Court to try for en bloc sale again »« Home prices up only 1% on-month in Dec: SRPI

Home prices up only 1% on-month in Dec: SRPI

Home prices up only 1% on-month in Dec: SRPI

By Jo-ann Huang | Posted: 28 January 2011

SINGAPORE: Home prices grew only 1 per cent on-month, according to the National University of Singapore (NUS) Singapore Residential Price Index (SRPI) for December 2010.

The Singapore Residential Price Index for all properties grew 0.9 per cent on-month to 155.5 points, compared to 154.1 in November 2010.

Suburban home prices grew the most, with on-month growth coming in at 2.2 per cent to reach 154.8, compared to 151.4 in November last year.

However, homes prices in the central region fell – on-month growth came in at -0.8 per cent to 161.0, compared to 162.3 a month before.

The SRPI is a transactions-based index that tracks the month-on-month price movements of private non-landed residential properties in Singapore.

Compiled by the NUS Institute of Real Estate Studies, the index covers only completed non-landed properties in the central region and non-central regions.

-CNA/ac

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Prices of HDB flats, private homes on the rise »« URA launches tender for land parcel in Paya Lebar Central

URA launches tender for land parcel in Paya Lebar Central

URA launches tender for land parcel in Paya Lebar Central

By Jonathan Peeris | Posted: 27 January 2011

SINGAPORE: The Urban Redevelopment Authority (URA) on Thursday launched the tender for the first land parcel in Paya Lebar Central.

Located at the fringe of the city centre, Paya Lebar Central is slated to become a bustling commercial centre, with a mix of office, retail, hotel and attractive public spaces.

The precinct has about 12 hectares of land available for development in total and a potential commercial floor space of more than 500,000 square metres.

This first land parcel for sale is located next to the Paya Lebar Interchange Station serving the Circle and East-West MRT Lines, and with an excellent frontage along Paya Lebar Road.

The commercial site has an area of almost 15 thousand square metres and maximum gross floor area (GFA) of over 62 thousand square metres.

In line with the plan for Paya Lebar Central to be a major commercial centre, the proposed development on the land parcel will also have at least 80 per cent of the total GFA for office use.

The tender for the site will close at noon on April 21.

- CNA/fa

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Home prices up only 1% on-month in Dec: SRPI »« $155 Million Injection Into Edusave

$155 Million Injection Into Edusave

$155 Million Injection Into Edusave

Extra funds to ensure ‘schools have resources when inflation goes up’: Dr Ng

by Teo Xuanwei

SINGAPORE – As the rising cost of living shows few signs of abating, the Government has moved to insulate children from its impact – in the form of a one-off $155 million topping-up to the Edusave scheme.

All Singaporean Primary and Secondary students, including those in special education schools, will receive $130 more in their Edusave accounts this year, Education Minister Ng Eng Hen announced yesterday during a dialogue session with Bukit Timah residents.

This $54.8 million injection – the biggest since 2005, when the Government gave out $100 more to each student – will bump up students’ Edusave accounts this year to $330 and $370 at the primary and secondary levels respectively.

The money in Edusave accounts can be used to fund school enrichment programmes. It could also be used to enable students to go on local and overseas learning trips.

The remaining $100 million will go to all Government, Government-aided and Independent schools to spend on IT equipment, so that schools “can use the gadgets to improve the education”, said Dr Ng, who was on a ministerial visit to the Bukit Timah Division in Holland-Bukit Timah GRC. Speaking to reporters afterwards,

Dr Ng added: “We are doing this because … we recognise that inflation this year will go up. We want to make sure that the schools have the resources, when inflation goes up, to be able to ensure that education isn’t compromised when things are a little bit more expensive.”

Inflation in Singapore hit 3.8 per cent last November compared to a year earlier, the largest jump since January 2009. It is forecasted to reach 4 per cent before easing to 2 per cent in the second half.

Institute of Technical Education (ITE) students from lower-income families will also be given a helping hand, Dr Ng said.

The Education Ministry will increase the Community Development Council/Citizens’ Consultative Committee bursary by 25 per cent.

Recipients in households who have per capita incomes of $300 or less a month, will get $1,000 per year, compared to $800 previously.

Those with a per capita income of between $301 and $500, will get $750 a year, compared to the current $600.

During the dialogue session, Dr Ng said he had two worries this year: Inflation and its impact on education.

While he noted that prices will go up this year, Dr Ng had this reassuring message: “In Singapore, nobody who has the ability, whether it’s ITE, polytechnic or university, will be denied their education because their family cannot afford it. That is a guarantee.”

Dr Ng also made a rallying call for Singaporeans to put their faith in the Government. It has ensured the country continues to thrive in a decade which saw many difficulties, such as terrorism, biological threats and the financial meltdown, Dr Ng noted.

Said Dr Ng: “You trust us for another 10 years, we will make the difference for you.”

Source : TODAYonline – MediaCorp Press Ltd’s copyright

URA launches tender for land parcel in Paya Lebar Central »« HDB launches BTO projects in Bukit Batok, Yishun

HDB launches BTO projects in Bukit Batok, Yishun

HDB launches BTO projects in Bukit Batok, Yishun

Posted: 25 January 2011

SINGAPORE: HDB is launching three BTO projects on Tuesday – Golden Daisy in Bukit Batok, Orchid Spring @ Yishun and Vista Spring @ Yishun.

A total of 1,728 standard flats will be offered, comprising 180 studio apartments, 192 units of two-room, 252 units of three-room, 828 units of four-room and 276 units of five-room flats.

95 per cent of the flat supply, excluding Studio Apartments, will be set aside for First-Timer households.

The price of flats ranges from S$83,000(for a studio apartment) to S$353,000.

HDB said its new flats are priced with a generous subsidy below their market value.

It added that the market value, as determined by professional valuers, takes into account the prices of comparable resale flats in the area, adjusted for factors such as location, flat attributes, design, availability of flats for occupation and prevailing market conditions.

In addition, eligible first-timers buying two-room and bigger new flats and earning not more than S$5,000 per month can also apply for the Additional CPF Housing Grant of up to S$40,000. The AHG can be used to offset the initial down-payment.

Applications for the new flats can be submitted online from January 25to February 7.

HDB said in the first six months of 2011, flat buyers can look forward to about 11,000 new BTO flats.

The next BTO launch in February 2011 will offer about 1,600 flats in Bukit Panjang and Sengkang.

-CNA/ac

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

$155 Million Injection Into Edusave »« HDB launches tender for land in Clementi

HDB launches tender for land in Clementi

HDB launches tender for land in Clementi

Posted: 25 January 2011 1447 hrs

SINGAPORE: The Housing and Development Board is launching the tender for the sale of land at Clementi Avenue 4 under the Design, Build and Sell Scheme on January 26.

The tender will close at 12 noon on March 8.

The site area is 21,906.5 square metres and about 770 units can be built on the site.

The lease term is for 103 years, including a 48-month construction period.

The site is located in Clementi New Town, which already has shopping, food and entertainment facilities.

-CNA/ac

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

HDB launches BTO projects in Bukit Batok, Yishun »« Property investment sales market up in Q4 last year

Property investment sales market up in Q4 last year

Property investment sales market up in Q4 last year

By Julie Quek | Posted: 24 January 2011

SINGAPORE : Property consultant Colliers International said Singapore’s property investment sales market strengthened further in the last quarter of 2010, ringing in sales of S$12.26 billion.

That was up 29 per cent quarter-on-quarter, but remained lower compared to the record S$12.69 billion chalked up during the peak in the third quarter of 2007.

Colliers released the information in its latest Knowledge Report on Monday.

The Colliers report said the investment sales market in the quarter ended December last year was driven predominantly by large-sized transactions worth at least S$100 million apiece.

In fact, some S$8.6 billion from 24 of such big-ticket deals contributed 70.1 per cent to total investment sales value during this period.

This was a 34.8 per cent improvement from the previous quarter and more than fourfold the value seen in the same period in 2009.

However, it was still 19.1 per cent lower than the S$10.62 billion recorded from the 22 big-ticket sales transactions seen at the height of the investment sales market in the third quarter of 2007.

Meanwhile, Colliers said the large-sized deals during the quarter mainly involved commercial properties, which accounted for 48 per cent of all large-sized transactions.

This was followed by mixed-use properties accounting for 26.5 per cent, and residential properties accounting for 23 per cent of all large-sized transactions.

Of these big-ticket transactions, three were billion-dollar deals – the largest being the sale of a white site located on Peck Seah Street and Choon Guan Street under the Government Land Sales Programme.

Suitable for developing into a mixed development with private housing units, hotel rooms and commercial space, the 1.5-hectare site was won by GuocoLand which bid a whopping S$1.71 billion, or S$1,006 per square foot per plot ratio.

The next largest billion-dollar deal was Suntec REIT’s acquisition of a one-third stake in phase one of Marina Bay Financial Centre (MBFC) from Cheung Kong Holdings and Hutchinson Whampoa for S$1.5 billion.

This translated to S$2,568 per square foot on total net lettable area (NLA), including rental support.

Following close behind was a deal that similarly involved a one-third stake acquisition in phase one of MBFC by K-REIT Asia from Keppel Land for S$1.43 billion, or S$2,450 per square foot on NLA, including rental support.

Going forward, Colliers said the low interest rate environment, which is expected to continue, together with the high liquidity and easing of credit here will set the stage for property purchases.

It expects REITs, in particular, to continue their acquisition spree as they capitalise on the recovering property market cycle for further asset portfolio enhancements and growth.

Colliers added that the investment sales market is poised to benefit from foreign buying interests redirected to the Republic as a result of the stringent curbs in property markets in the region.

- CNA/al

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

HDB launches tender for land in Clementi »« JTC Corp launches Ubi Road industrial site for sale