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\n15th November to 21st November 2022
\nMore than 9,500 Build-to-Order (BTO) flats will be launched by the Housing and Development Board (HDB) in the upcoming sales exercise on 23 November 2022. Meanwhile, new private home sales in Singapore, excluding executive condominiums (ECs), dropped 68.4% month-on-month and 65.8% year-on-year to 312 units in October this year.
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\n1) HDB to launch over 9,500 BTO flats in November 2022
\nGhim Moh Ascent, the Queenstown May 2022 HDB BTO flats released under the PLH model. Source: HDB
\nMore than 9,500 Build-to-Order (BTO) flats will be launched by HDB in the upcoming sales exercise on 23 November 2022, reported CNA citing National Development Minister Desmond Lee.
\nThe offering includes three projects under the Prime Location Public Housing (PLH) model, two of which will be located in Queenstown (Ghim Moh Natura and Ulu Pandan Banks) and the third will be situated in Kallang\/Whampoa (Kallang Horizon).
\nLee noted that the projects are very close to transport nodes such as Buona Vista, Dover and Kallang MRT stations. They are also \u201cwell-served by existing amenities and facilities\u201d, he added.
\n\u201cGiven the attractive locations and attributes, these flats would naturally command higher market values,\u201d he said in a Facebook post.
\nLee pointed out that the third project in Queenstown \u2013 Queenstown Canopy \u2013 will not come under the PLH model since it is located further away from major retail amenities and main transport nodes.
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\n2) New private home sales plunge 68.4% in October 2022
\nNew private home sales in Singapore, excluding executive condominiums (ECs), dropped 68.4% month-on-month and 65.8% year-on-year to 312 units in October, showed Urban Redevelopment Authority (URA) data.
\nThe figure marked the lowest monthly sales since February 2016 when only 303 units were shifted.
\nEdmund Tie\u2019s Head of Research and Consulting Lam Chern Woon said the low sales volume was likely due to \u201ca dearth of new major project launches in October 2022 in the immediate aftermath of the cooling measures\u201d.
\nIn October, developers launched 102 units, down 90% from September\u2019s 913 units.
\nOf the total sales, the Core Central Region (CCR) accounted for 54.8%, while the Rest of Central Region (RCR) and Outside Central Region (OCR) made up 26% and 19.2%, respectively.
\n\u201cAs the CCR tends to attract more purchases by foreigners, the proportion of foreigners in October shot up to 11.7%, up from 4.5% in September,\u201d said Lee Sze Teck, Huttons Asia\u2018s Senior Director for Research.
\nThe higher sales in the CCR also meant that the proportion of sales for properties priced at $2 million and above accounted for 64.4% of last month\u2019s total sales, he added.
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\n3) Government reviewing housing estate classification
\nNational Development Minister Desmond Lee said the Government is currently reviewing whether its public housing estate classification should be adjusted to \u201ckeep pace with the times\u201d, reported TODAY.
\n\u201cAs the non-mature estates start to come of age and the lines between them and the mature estates blur, such distinctions are becoming less relevant,\u201d he said during a government engagement session.
\n\u201cFor example, those staying in Jurong East and Sengkang, currently classified as non-mature estates, may share with you the wide array of amenities in their towns, which are comparable to those in some mature estates.\u201d
\nLee shared that the Government is also looking at how it can further prioritise access to public housing for those with more pressing needs.
\nHe noted that most Singaporeans agreed that even among first-timer applicants, lower-income families and couples with children should be given more priority.
\n\u201cBut it is not easy to reach a consensus on how we define whose needs are more urgent, as evident from the direct tensions observed from the suggestions we have received,\u201d added the minister.
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\n4) No need to review SERS since not many more eligible sites are expected, says MND
\nThe blocks chosen for the Ang Mo Kio Housing and Development Board\u2019s Selective En Bloc Redevelopment Scheme are 562, 563, 564 and 565. Source: Google Maps
\nThe Ministry of National Development (MND) has turned down a petition to place the Selective En Bloc Redevelopment Scheme (SERS) on moratorium or further review, saying it \u201cdoes not expect many more sites to be eligible\u201d.
\n\u201cSERS is highly selective and the Housing and Development Board (HDB) estimates that only around 5% of all HDB flats are suitable for SERS,\u201d it said as quoted by TODAY.
\n\u201cMost of the projects with high redevelopment potential have already been selected\u2026 As such, an extensive review of SERS would be unnecessary.\u201d
\nThe ministry made the statement in response to the Public Petitions Committee handling the petition submitted by Non-Constituency Member of Parliament (MP) Leong Mun Wai.
\nLeong made the petition on behalf of five Ang Mo Kio residents who were affected by a recent SERS exercise.
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\n5) DBS and OCBC raise fixed home loans rates<\/p>\n