{"id":110917,"date":"2019-09-20T10:23:25","date_gmt":"2019-09-20T03:23:25","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-pricing-model-for-greater-southern-waterfront-flats\/"},"modified":"2019-09-20T11:06:10","modified_gmt":"2019-09-20T04:06:10","slug":"new-pricing-model-for-greater-southern-waterfront-flats","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-pricing-model-for-greater-southern-waterfront-flats\/","title":{"rendered":"New pricing model for Greater Southern Waterfront flats"},"content":{"rendered":"


\nWong explained that the new measures are aimed at providing \u201ca better balance between new and resale (flats) in terms of grants\u201d
\nIn 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 government is working on a new pricing model for public housing in such area.
\nPrime Minister Lee Hsien Loong had announced at the National Day Rally plans to build 9,000 public and private homes on the site of Keppel Club once its lease expires in two years.
\n\u201cIf you have public housing in such a prime area and if you were to sell it at today\u2019s public housing prices, it will be a very large subsidy. Whoever gets the flats there, by ballot, will be very happy. But it will be a bit of a \u2018lottery effect\u2019. Those who don\u2019t get that flat will be very envious,\u201d he said during a CNA938 interview.
\n\u201cOn the other hand, if we were to keep the subsidy the same, then the price of those flats will be very high and out of reach. So we have to work out a new model for public housing in the Southern Waterfront. That\u2019s something we are working on,\u201d he added.
\nAt the interview, Wong also discussed the new housing grant and higher income ceiling introduced by HDB, reported CNA.
\nWong explained that the new measures are aimed at providing \u201ca better balance between new and resale (flats) in terms of grants\u201d in order that the percentage of individuals purchasing those properties \u201cwill stabilise going forward\u201d.
\nCurrently, around 75 percent of HDB buyers prefer new flats, while the other 25 percent opt resale flats.
\n\u201cI expect with the incentive structure now adjusted, the 75 percent figure will likely come down in the coming years,\u201d said Wong.
\nHe added that the government also decided to raise the income ceiling to accommodate rising income levels.
\n\u201cAs incomes rise, a few of them at the margins will then exceed the income ceiling and then they would no longer have the chance,\u201d said Wong.
\n\u201cSo we monitor the income ceiling all the time and as incomes rise, we will adjust the income ceilings accordingly so that about eight in 10 or more than eight in 10 Singaporeans will be eligible to buy public housing in Singapore.\u201d
\nThe income cap for families purchasing Build-to-Order flats was raised from $12,000 to $14,000, while the ceiling for singles aged 35 and above was increased from $6,000 to $7,000.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…New pricing model for Greater Southern Waterfront flats<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Wong explained that the new measures are aimed at providing \u201ca better balance between new...<\/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-110917","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-sQZ","jetpack-related-posts":[{"id":110100,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-new-policies-be-introduced-to-curb-the-lottery-effect-of-greater-southern-waterfront-flats\/","url_meta":{"origin":110917,"position":0},"title":"Should new policies be introduced to curb the \u2018lottery effect\u2019 of Greater Southern Waterfront flats?","date":"August 22, 2019","format":false,"excerpt":"\r Experts 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. Prime Minister Lee Hsien Loong announced in his National Day Rally speech plans to build 9,000 public and private homes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22680,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-mulls-building-hdb-flats-in-prime-areas\/","url_meta":{"origin":110917,"position":1},"title":"Govt mulls building HDB flats in prime areas","date":"August 12, 2016","format":false,"excerpt":"\r Artist\u2019s impression of the Greater Southern Waterfront. Source: URA National Development Minister Lawrence Wong said the government is considering building public flats in prime areas, like the planned Greater Southern Waterfront, in order to make the city accessible to all, reported TODAYonline. He made the statement at the annual\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122878,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-prime-area-housing-model-may-boost-demand-for-flats-in-nearby-areas\/","url_meta":{"origin":110917,"position":2},"title":"New prime area housing model may boost demand for flats in nearby areas","date":"October 29, 2021","format":false,"excerpt":"\r Future HDB flats launched under the PLH model have tighter rules\u00a0like an extended MOP period of 10 years, which may push potential buyers towards flats in city-fringe areas that are not subject to such restrictions. Analysts believe the stricter resale conditions for flats under the new prime location public\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/singapore-prime-district.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":110917,"position":3},"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":110040,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/premium-prices-for-hdb-flats-at-greater-southern-waterfront\/","url_meta":{"origin":110917,"position":4},"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":122853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-bto-project-under-new-prime-housing-model-to-be-built-in-rochor\/","url_meta":{"origin":110917,"position":5},"title":"First BTO project under new prime housing model to be built in Rochor","date":"October 27, 2021","format":false,"excerpt":"\r The Rochor BTO project will have 960 units of\u00a0three-room and four-room flats, and 40 units of two-room rental flats. Source: HDB The first project under the new prime location public housing (PLH) model will be built at Rochor and launched at next month\u2019s Build-to-Order (BTO) exercise. Situated along Weld\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/rochor-bto-plh.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110917"}],"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=110917"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110917\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=110917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=110917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=110917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}