HDB ups MOP for resale flats to 5 years

Got this from Channel news network... BIG NEWS...

SINGAPORE: The Housing and Development Board (HDB) will increase
the Minimum Occupation Period (MOP) of non-subsidised flats from three
to five years.

It said this will reinforce the message that flats are meant for
long-term occupation and dampen demand from those who are not in urgent
need of housing.

Buyers of these flats will also be banned from concurrently owning
both an HDB flat and a private residential property within the MOP.

Private property owners who buy a resale HDB flat must now dispose
of their private residential property within six months from the date
of flat purchase.

HDB said this will help ensure buyers purchase flats only when they
have the intent of staying in it for long term and ensure equitable
treatment for all flat lessees during their MOP.

Ownership of private properties by HDB lessees will be allowed after the MOP.

The changes will apply to resale applications received by HDB from Monday.

The Prime Minister in his National Day Rally speech on Sunday said
more will be done to ensure that HDB flats will remain within reach of
first-time buyers.

HDB will ramp up the supply of new flats, Design, Build and Sell
Scheme (DBSS) flats and Executive Condominiums (ECs) substantially to
meet the housing needs of first-time property buyers.

It will be offering more than 16,000 new flats this year.

If demand remains strong, HDB said it's prepared to launch up to 22,000 new flats next year.

Over two years, it will offer more new flats than the total flats of 35,400 in Toa Payoh town today.

In addition, it will release more land for tender in 2010 to yield an estimated supply of 3,000 DBSS flats and 4,000 ECs.

In 2011, HDB will release land sites for another 4,000 DBSS flats and 4,000 ECs, if demand is sustained.

To widen their housing options, HDB will allow first-timer
households with monthly income of between S$8,000 and S$10,000 to buy
new DBSS flats with a CPF Housing Grant of S$30,000.

Similar to the purchase of ECs, the HDB concessionary loan will not be available for these buyers.

This revision will be applicable to DBSS projects launched for public sale after Monday.

To help households get their new flats faster, HDB has also
streamlined the Build-to-Order (BTO) processes to allow flat buyers
collect keys to their new homes six months earlier.

Buyers of projects launched in mid-2011 onwards will generally need
to wait for two and a half years to collect the keys instead of the
current three years.

KK, thanks for the news.

Wah Moi planning liao ah!!!!!!!!!!!!!

jazz_samz wrote:

Wah Moi planning liao ah!!!!!!!!!!!!!

smart. Actually just wanna buy next year and do some investment. But now got to treat it like a chalet for 5 years.

May be Golfman can share his views...

But I think the housing market may come to a temporary correction. possibly something within 6 -12 months. By then the properties will be at reasonable prices.

Then again, it is suppose to remove young speculators, i.e. those who bought a HDB then thinking of making big bucks in private properties. As for owning a private properties, I have been told that you need at least 35% cash-in-hand before making a purchase. Which means making it harder to own a property.

Hence, if you are semi-retired - loaded, living in fully paid HDB and have spare cash... time to do shopping in 6-12 months time...

*hint**hint*... UL, Golfchow, rocky snr and old boys. I am out of the league, too young and have MOP to cover...

haha... makes my planning simpler.. cannot buy liow..

JieJie wrote:

haha... makes my planning simpler.. cannot buy liow..

After 35 and example ah ...if you are single you can buy 3 or 3 room HDB....but now you can get a nice studio condo and invite us to your place for party or to watch golf or football channel ! Beer and makan on us !

But from what i know...this new 22000 to 33000 flats are not really for true blood Singaporean..........just my 2cents worth !

Single???? who ah????

golfchowmk wrote:

Single???? who ah????

RDG Queen !!!

For us to know, for you to find out ! You go ask JJ lah !

any chances....

golfchowmk wrote:

any chances....

Are you tall ? Dark ? and super Yan Tiao ????



This is the bare minimum !!!

JieJie wrote:

haha... makes my planning simpler.. cannot buy liow..

Eh... you need to plan one meh??/ The queue so long waiting for you to tikam nia... all somemore drive sports car and live in big bunglow....

Uncle Lau wrote:

But from what i know...this new 22000 to 33000 flats are not really for true blood Singaporean..........just my 2cents worth !

ITs again cho hee.... (act movie)

Uncle Lau wrote:

golfchowmk wrote:

any chances....

Are you tall ? Dark ? and super Yan Tiao ????



This is the bare minimum !!!

AND MUST PLAY GOLF cos if cannot click with RDG brothers, immediately kana eliminated.. horrrrr JJ????

jazz_samz wrote:

Uncle Lau wrote:

golfchowmk wrote:

any chances....

Are you tall ? Dark ? and super Yan Tiao ????



This is the bare minimum !!!

AND MUST PLAY GOLF cos if cannot click with RDG brothers, immediately kana eliminated.. horrrrr JJ????

SSSSSSSSSSSSSSHhhhhhhhhhhhhhhhhhhh don't give clues lah !

UL, you hurt my feelings... sigh....so sad with your comments... I am not true blood singaporean...

UL=

I have not finish my post lah....busy mah so many post and PM to answer...it a thankless job you know !!!

Cont from where i end last post........." But it for the well deserve PRs who toll day and night for Singapore, it a way of thanking them...."

Khorkar wrote:

UL, you hurt my feelings... sigh....so sad with your comments... I am not true blood singaporean...

then u should Saddam him KK!!!

jazz_samz wrote:

Khorkar wrote:

UL, you hurt my feelings... sigh....so sad with your comments... I am not true blood singaporean...

then u should Saddam him KK!!!

Wahlau....that Kukup thread 13 pages and have not even play yet !

U mean KK dun dare to at with you huh?? (purposely stirr. Kekkeke)

Actually we all WAITING FOR YOU TO PLAY SO WE COULD ALL EAT YOU !!!

UL, we saddam JS ok?

KNS KK!!