{"id":102974,"date":"2019-01-15T09:55:19","date_gmt":"2019-01-15T02:55:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/65-of-490440-flat-owners-took-out-hdb-loans\/"},"modified":"2019-01-15T13:03:28","modified_gmt":"2019-01-15T06:03:28","slug":"65-of-490440-flat-owners-took-out-hdb-loans","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/65-of-490440-flat-owners-took-out-hdb-loans\/","title":{"rendered":"65% of 490,440 flat owners took out HDB loans"},"content":{"rendered":"


\n\u00a0
\nThe Ministry of National Development revealed that 490,440 Housing Board flat owners were servicing mortgages as at end-2018, of which 65 percent (320,526) took their loan from HDB.
\nIn a written reply to MP Walter Theseira, the ministry noted that 22 percent of those that took an HDB loan owned a three-room or smaller flat, 46 percent owned a four-room flat, 26 percent owned a five-room flat while the remaining six percent owned an executive or larger flat.
\n\u201cThe average monthly instalment for flat owners of three-room and smaller, four-room, five-room, and Executive\/bigger flats servicing HDB loans was $567, $853, $1,058 and $1,253 respectively,\u201d it said.
\n\u201cAmongst these flat owners, 224,836 (70 percent of 320,526) households paid their monthly instalment fully using CPF monies, 44,693 (14 percent) households paid fully in cash, and 50,997 (16 percent) households used a combination of cash and CPF monies.\u201d
\nIt added that 91 percent of those who took an HDB loan also secured a concessionary loan, the interest of which is pegged at 0.1 percent above the CPF Ordinary Account interest rate, which currently stands at 2.5 percent and does not change frequently.
\n\u201cThis has helped to provide certainty to HDB borrowers on their monthly mortgage repayments.\u201d
\nMeanwhile, about 169,914 households (35% of 490,440) are servicing loans for their HDB flats from financial institutions (FIs).
\nIt added that less than one-third of all outstanding housing loans extended by FIs were pegged to floating market interest rates as of September last year, which was down from around 60 percent in 2016.
\n\u201cMany FI borrowers have switched to fixed-rate loan packages, which has reduced their vulnerability to market interest rate increases.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…65% of 490,440 flat owners took out HDB loans<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 The Ministry of National Development revealed that 490,440 Housing Board flat owners were servicing...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-102974","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qMS","jetpack-related-posts":[{"id":111443,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-receive-average-lbs-proceeds-of-177000\/","url_meta":{"origin":102974,"position":0},"title":"Seniors receive average LBS proceeds of $177,000","date":"October 8, 2019","format":false,"excerpt":"\r The Ministry of National Development noted that most seniors \u2013 after taking up the Lease Buyback Scheme \u2013 have enough CPF RA savings \u201cto benefit from a lifelong income stream of about $1,000 per month on a household basis under CPF LIFE\u201d. With the Lease Buyback Scheme (LBS) enhanced\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122996,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/incomes-have-kept-pace-with-prices-of-new-hdb-units-resale-flats\/","url_meta":{"origin":102974,"position":1},"title":"Incomes have kept pace with prices of new HDB units, resale flats","date":"November 3, 2021","format":false,"excerpt":"\r HDB subsidies for new and resale flats keep public housing affordable; among resale flat buyers who have taken\u00a0up an HDB loan, the mortgage servicing ratio\u00a0has remained stable at 23%. New Housing and Development Board (HDB) units and resale flats continue to remain affordable as incomes of Singaporeans have generally\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/Colour-Scheme-HDB-e1479092279776.original.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":110483,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lbs-available-for-flat-owners-with-outstanding-mortgage-loan-of-over-5000\/","url_meta":{"origin":102974,"position":2},"title":"LBS available for flat owners with outstanding mortgage loan of over $5,000","date":"September 4, 2019","format":false,"excerpt":"\r Flat owners with outstanding mortgage loans of more than $5,000 can now take up the LBS \u201cas long as the proceeds from the lease sale are sufficient to fully discharge the loan. The rule that requires Housing and Development Board (HDB) flat owners to have an outstanding loan of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76088,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2500-households-took-up-hdbs-lease-buyback-scheme\/","url_meta":{"origin":102974,"position":3},"title":"2,500 households took up HDB\u2019s Lease Buyback Scheme","date":"January 9, 2018","format":false,"excerpt":"\r About 2,500 families have successfully applied for the Housing and Development Board\u2019s Lease Buyback Scheme (LBS) since it was launched in March 2009, according to a written parliamentary reply from the Ministry of National Development on Monday (8 January). It stated this in response to a question from Gan\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39457,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/860000-hdb-households-to-receive-utilities-rebates\/","url_meta":{"origin":102974,"position":4},"title":"860,000 HDB households to receive utilities rebates","date":"January 3, 2017","format":false,"excerpt":"\r The GST Voucher \u2013 U-Save rebate helps HDB households offset part of their utilities bills. The Ministry of Finance on Sunday (1 January) revealed that around 860,000 Singaporean HDB households will receive the next instalment of the GST Voucher \u2013 Utilities-Save (U-Save) rebate this month. Depending on their HDB\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/01\/Utilities-rebate-for-Jan-2017-1024x447.jpg?fit=1024%2C447&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":102964,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/almost-50-of-public-rental-tenants-previously-owned-hdb-flats\/","url_meta":{"origin":102974,"position":5},"title":"Almost 50% of public rental tenants previously owned HDB flats","date":"January 15, 2019","format":false,"excerpt":"\r Many public rental tenants struggle to afford a flat due to medical issues, divorce or loss of employment. Over the past two years, an average of around 7,300 households have applied for rental flats each year, revealed the Ministry of National Development in Parliament on Monday (14 Jan). \u201cHDB\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102974"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=102974"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102974\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=102974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=102974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=102974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}