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HDB's Survey Findings on En-Bloc Redevelopment Scheme

Findings:
Overwhelming Support for the Selective En Bloc Redevelopment Scheme. About 85% upon announcement of SERs and increased to 90% after the housholds settled in the replacement flats.

Sample Size :
Survey covered a population size of ten completed SERS replacement sites with 3012 households.

Factors for Overwhelming Response :
Strong support for SERS due to improved living ennvironment for replacement flats; and family, kinship community ties retained.
Date Released by HDB : 14th July 2004

Sample Household Survey 2003

Findings:
Showed that the standard of living of residents in HDB Flats had generally improved.

Reflected in a higher average monthly household income, higher ownership of consumer goods and the increased number embracing an e-lifestyle.

Sample Size :
Survey covered a total of 7,300 households in all the HDB towns and estates.

Other Factors :
Residents liked most about living in HDB estates were the low housing cost and the comprehensive estate facilities.

Date Released by HDB : 20th June 2005.

Window Safety

Proposed Legislation by BCA to regulate the design & Installation of windows - expect later this year.

Goodwill Programme for those units installed by HDB
Replacement for aluminium rivets of casement windows for 43,000 HDB flats installed by HDB, with stainless steel rivets. HDB will co-pay 50% of cost. Expected period of replacement from Mar 2004 to Feb 2005.   

Additional CPF Housing Grant (AHG) for lower income families - 8th March 2006.

AHG is given in addition to the existing housing subsidies.

Eligibility :
1. a citizen family buying a subsidised HDB Flat for the first time.

2. or your co-applicant must have been working continuously for the past 2 years at the time of application.

3. average monthly household income of $3000 or less for the past 2 years.

4. must meet all the other eligibility conditions to buy an HDB Flat.

Grant (AHG) :
Average Monthly Household Income
1. $1500 or less - Grant $20,000
2. $1501-$2000 - Grant $15,000
3. $2001-$2500 - Grant $10,000
4. $2501-$3000 -Grant $ 5,000

Further Relaxation of Subletting of Whole HDB Flat Singapore

Effective date : 8th March 2005

Condition/Eligibilty :
Flat owners  who have occupied  flats for  10 years or more, irrespective of whether  flats brought from HDB or resale market, and whether flat owners have outstanding HDB loan
can sublet the whole flat.

Or
Flat owners, who have no outstanding HDB loan, can sublet the whole flat after occupying it for at least 5 yrs.

Procedures for Subletting
HDB's prior written approval  and pay a administrative fee.  

Reduction in Time Bar For Buying Another HDB Flat directly from HDB

Effective date : 8 March 2005

Reduction in Time bar from 10 years to 5 years for those 2nd timers who had bought HDB flats or a resale HDB flats with CPF Housing Grants.

They can now book flats on the spot via walk-in selection or submit application for Feb05 balloting exercise (closing date 20th Mar 05)

Non-Citizen Spouse Scheme

Effective date : 8 March 2005

Citizens with non-citizen spouses can now buy any type of resale HDB flat instead of the 3-room or smaller resale flats previously. (same as citizen singles introduced in Sep 04).

Age for singles grant - lower from from 35 to 21 if spouse holds a long-term social visit pass of at least six months.

The household can apply to top-up the singles grant to family grant when the spouse or child obtains Singapore Citizenship or PR status - Only for marriage on or after 8th March 05 & top-up application be submitted within 6 mths of citizenship or PR.

Option to Purchase  (OTP) for  HDB Resale Flat in Singapore

Effective date : 15th Apr 2003

Procedures
Buyers have 14 days to decide after paying an option money of not more than S$1000/-. During the 14 days option period, the seller cannot sell his HDB flat or make an offer to other buyers.

The buyers can exercise the option at any time  within the 14 days by paying  a deposit of not more than $5000/-, which include the option money.  

Loan from Banks or Financial Institutions for HDB Flats

Effective 1st Jan 2003, HDB home buyers, who do not qualify for concessionary interest mortgage loans, are required to take up loans from approved banks and financial institutions.

Anyone who wishes to take up a loan, please obtain more information from any of the approved banks or financial institutions

HDB Assigned Valuers for Bank Loan Cases

Effective date : 1st April 2005

Valuation Report - Require a valuation report from a private valuer assigned by HDB

Applicable to - all HDB resale flat transactions (including flat transfer applications) involving a bank loan and the use of CPF savings and the servicing of loan.

CPF Valuation - CPF Board will also conduct independent valuation on any suspected over-valued flats to determine the quantum of CPF withdrawals & housing loans.

10% deposit for flat effective 19th July 2005

Effective date : 19th July 2005

Downpayment : reduced from 20% to 10% for purchase of HDB flat.

Financing Limit : up from 80% to 90% of value of property.

Cash Requirement : lowered from 10% to 5% of value from 1st Jan 2006. (cash requirement from 19th July 05 to 31st Dec 05 remains at 4%)

Revised Resale Levy

Effective date : 3th March 2006.

Applicable to flat owner who is buying a second subsidised flat from HDB or a second-timer taking over ownership of a subsidised flat.

The revised resale levy which is pegged to the flat type of the first subsidised flat is as follows :

1. 2-room - $15,000
2. 3-room - $30,000
3. 4-room - $40,000
4. 5-room - $45,000
5. Exec - $50,000

For more News about HDB Flats, visit HDB Website