{"id":110100,"date":"2019-08-22T10:36:58","date_gmt":"2019-08-22T03:36:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-new-policies-be-introduced-to-curb-the-lottery-effect-of-greater-southern-waterfront-flats\/"},"modified":"2019-08-22T11:03:37","modified_gmt":"2019-08-22T04:03:37","slug":"should-new-policies-be-introduced-to-curb-the-lottery-effect-of-greater-southern-waterfront-flats","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-new-policies-be-introduced-to-curb-the-lottery-effect-of-greater-southern-waterfront-flats\/","title":{"rendered":"Should new policies be introduced to curb the \u2018lottery effect\u2019 of Greater Southern Waterfront flats?"},"content":{"rendered":"


\nExperts believe the \u201clottery effect\u201d of public housing at the Greater Southern Waterfront (GSW) could be mitigated by measures such as longer minimum occupancy periods (MOP) and shorter leases.
\nPrime Minister Lee Hsien Loong announced in his National Day Rally speech plans to build 9,000 public and private homes on the site of Keppel Club as part of the mega waterfront development.
\nStretching 30km along the southern coastline, the GSW is set to become part of the central business district (CBD), featuring commercial, residential and recreational components.
\nIn 2016, National Development Minister Lawrence Wong said the government wants to preserve HDB living within the CBD since it is mindful of the rich-poor divide.
\nHowever, the government would explore ways to tighten resale conditions for said units, he explained then.
\n\u201cThe main purpose of the exciting range of HDB flats is that the fruits of the prime Greater Southern Waterfront will be for everyone \u2013 not just for the super wealthy,\u201d said property analyst Ong Kah Seng.
\n\u201cIf it is purely private and residential and commercial use\u2026 it wouldn\u2019t be ideal because it will edge out HDB dwellers or owners from having a chance to live in the Greater Southern Waterfront, an upmarket place.\u201d
\nThe \u201clottery effect\u201d was brought under the limelight after Pinnacle@Duxton\u2019s launch in 2004, reported CNA.
\nThe development received overwhelming response for the 1,848 units, with prices ranging from $343,100 to $451,500 for the five-room units then.
\nSome of the five-room units at Pinnacle were sold for more than $1 million, after the five year MOP, with one snapped for $1.12 million in 2016 \u2013 the highest resale price for an HDB flat at the time.
\nWith this, property experts offered ideas on how the government could dampen the \u201clottery effect\u201d of GSW flats.
\n\u201cThe government may have to introduce new policies that will deter speculative activities, such as the resale restrictions through longer MOPs, higher resale levies, and sale rights,\u201d said Associate Professor Sing Tien Foo, director of the NUS Institute of Real Estate.
\nCushman & Wakefield research head Christine Li also suggested selling the flats at a 60- or 30-year lease, instead of 99 years.
\n\u201cWhen the leases are shorter, there is limited capital upside and will deter investors from purchasing these flats.\u201d
\nLooking to buy a Singapore home but not sure where to start? Get insight on the best locations for your new home with our\u00a0AreaInsider\u00a0Guides.
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Should new policies be introduced to curb the \u2018lottery effect\u2019 of Greater Southern Waterfront flats?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Experts believe the \u201clottery effect\u201d of public housing at the Greater Southern Waterfront (GSW) could...<\/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-110100","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-sDO","jetpack-related-posts":[{"id":110040,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/premium-prices-for-hdb-flats-at-greater-southern-waterfront\/","url_meta":{"origin":110100,"position":0},"title":"Premium Prices for HDB flats at Greater Southern Waterfront?","date":"August 20, 2019","format":false,"excerpt":"\r Property experts believe that public housing units at the Greater Southern Waterfront (GSW) project would come with premium prices, given its attractive location. Prime Minister Lee Hsien Loong has announced during his National Day Rally speech that 9,000 public and private housing units would be built at the Keppel\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110014,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/greater-southern-waterfront-to-feature-9000-public-private-homes\/","url_meta":{"origin":110100,"position":1},"title":"Greater Southern Waterfront to feature 9,000 public, private homes","date":"August 19, 2019","format":false,"excerpt":"\r Prime Minister Lee Hsien Loong on Sunday (18 August) confirmed for the first time that the future Greater Southern Waterfront (GSW) will have Housing and Development flats. In his National Day Rally speech, Mr Lee revealed that about 9,000 public and private housing units will be built on the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110917,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-pricing-model-for-greater-southern-waterfront-flats\/","url_meta":{"origin":110100,"position":2},"title":"New pricing model for Greater Southern Waterfront flats","date":"September 20, 2019","format":false,"excerpt":"\r Wong explained that the new measures are aimed at providing \u201ca better balance between new and resale (flats) in terms of grants\u201d In a bid to mitigate the \u201clottery effect\u201d of securing a subsidised flat within the Greater Southern Waterfront, Minister for National Development Lawrence Wong revealed that the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120563,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singaporeans-call-for-additional-subsidies-to-make-flats-in-prime-areas-more-affordable\/","url_meta":{"origin":110100,"position":3},"title":"Singaporeans call for additional subsidies to make flats in prime areas more affordable","date":"July 5, 2021","format":false,"excerpt":"\r Singaporeans call for additional subsidies to make flats in prime areas more affordableAccording to public\u00a0feedback gathered by the HDB and MND, most Singaporeans want the Government to provide additional subsidies for flats in prime locations.\u00a0 Most Singaporeans want the Government to provide additional subsidies for public housing built within\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/Chinatown-Area-Skyline.original.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":125861,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/keppel-club-site-to-attract-keen-interest-among-developers-analysts-see-high-demand-for-public-flats-on-keppel-club-site-four-room-flats-to-cost-over-700000-and-more\/","url_meta":{"origin":110100,"position":4},"title":"Keppel Club site to attract keen interest among developers; Analysts see high demand for public flats on Keppel Club site, four-room flats to cost over $700,000 and more","date":"April 19, 2022","format":false,"excerpt":"\r Keppel Club site to attract keen interest among developers; Analysts see high demand for public flats on Keppel Club site, four-room flats to cost over $700,000 and more12th April to 18th April 2022 Analysts expect the Keppel Club site to attract keen interest among developers, given the rarity of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/04\/singapore-condo-news-feature.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":63628,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/greater-southern-waterfront-project-may-start-sooner-than-expected\/","url_meta":{"origin":110100,"position":5},"title":"Greater Southern Waterfront project may start sooner than expected","date":"August 14, 2017","format":false,"excerpt":"\r Artist\u2019s impression of the Greater Southern Waterfront. Source: URA PSA Singapore\u2019s decision to move from Tanjong Pagar Terminal to Pasir Panjang Terminal earlier than expected has sparked speculation of the Greater Southern Waterfront project kicking off faster, reported the Straits Times. Three times the size of Marina Bay, the\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\/110100"}],"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=110100"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110100\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=110100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=110100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=110100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}