Tag Archives: HDB flats

Demand for HDB resale flats to remain strong in 2017

In the latest figure for public housing resale transactions, the number of resale flats sold rose 7.8% in 2016 compared to 2015 (20,813 cases vs 19,306 cases). One identified factor is that HDB buyers have perceived that the prices for resale flats has stabilised and unlikely to fall significantly further. Also together with the pickup in more property completions, both HDB and private housing, HDB upgraders are compelled to sell their existing HDB flats in order to take possession of their new properties.

Estimated demand for resale flats is between 20,000 to 23,000 units. On the other hand HDB will offer 17,000 new flats for sale in 2017, of which the first BTO exercise will be launched in the current month. Locations includes Clementi, Punggol, Tampines, and Woodlands.

Reduction in propery tax for HDB flats

SINGAPORE – Owners residing in Housing Board flats will enjoy a reduction in their property tax in 2015 compared to this year, said the Inland Revenue Authority of Singapore (Iras) on Monday.

This comes as the Annual Values of three-, four-, five-room, and executive flats will be lowered from January by about 3 per cent to reflect the dip in market rentals.

Along with the implementation of more progressive tax rates this year, the latest revision in Annual Values means that HDB residents will save between $42 and $54 in taxes in 2015, compared to two years ago, said the Iras.

One- and two-room HDB flat owner-occupiers will continue to pay no property tax.

– See more at: http://www.straitstimes.com/news/singapore/housing/story/hdb-property-tax-next-year-reduced-bigger-flats-iras-20141208#sthash.wiG49ztQ.dpuf