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| | | | | | | The Housing and Development Board built nearly 4,400 new flats in the past year and will scale up its building programme over the next 12 months as demand and the property market pick up.
In its annual report just released, it also says it is likely to launch three Build-To-Order projects before the end of the year.
Providing customised housing for the silver generation is one focus of the HDB in the year ahead.
It will be building more studio apartments and is anticipating good demand.
The latest Build-to-Order project, Golden Jasmine at Bishan, is already three times oversubscribed.
Demand is similarly upbeat for new 2-room flats at Fernvale Vista in Sengkang and converted units at Jurong West to be launched in the first half of 2007, with subscription rates of over 2 and 3 times respectively.
So there are plans to offer more smaller flats for sale to lower-income families.
These will be integrated with larger flat types in estates like Sengkang and Punggol.
Property agents say the influx of new flats is unlikely to have a significant impact on the resale market.
Another key focus is enhancing the living environment.
Tay Kim Poh, CEO, HDB, said: "We are also exploring the idea of making HDB estates more sustainable by introducing more environmental-friendly designs. In this regard, we have formed the Committee on Environmental Sustainability, led by our chairman, to spearhead the study on creation of sustainable housing estates."
HDB is also studying ways to clear its stock of unsold flats, which fell from 9,000 to 6,000 surplus units, and may revisit an initial plan to sell some of the units on the resale market.
But some flats will sell easily, like the eight blocks along Tampines Avenue 6 to be launched in early October.
They are the first privately-developed public housing (by Sim Lian Group) under the Design, Build and Sell Scheme (DBSS).
HDB will monitor its take-up rate and the housing market before deciding on subsequent DBSS projects.
Those flats are likely to attract better-off home buyers, but the needy have not been left out.
HDB also reported that the additional housing grant of between S$5,000 and S$20,000, introduced in March to facilitate home ownership among the lower-income households, has benefited some 900 families.
Also introduced in March, a reverse mortgage scheme to allow the elderly to monetise their assets.
But this has met with poor response with just 10 approved loans in 6 months.
NTUC Income says this is due to a lack of public awareness and a strong culture of home ownership.
HDB incurred an operating deficit of S$1.4 billion for the year ending March 2006 - up from S$850 million the year before, and one of the largest in since 1998.
Mr Tay said: "This is largely because we made provision for possible impairment losses in industrial land, industrial properties and there're also some provisions for doubtful mortgaged loans. Other than this, the other financial results have not changed very much."
It is also expected to roll out programmes to help HDB shop tenants this year. - CNA/ch |
